Courier Democrat. (Langdon, N.D.) 1891-1920, 1912-10-31
A BANKER
GOVERNOR
NOW L. B. HANNA COULD MIX
"el0 BUSINESS" AND POLITICS
TO HIS FINANCIAL
ADVANTAGE
A GREAT OPPORTUNITY
A Banker-Governor Gould Make $685.
600 to $4,000 for Himself and
Associates on Bank
Deposits

"Whose Bu%siness?"
1t is the debate on that question
that has aroused the American peo-
PIE today as they have never been
aroused before. Big interests, syndi.
Gated wealth, privilege-seeking corpor-
atoms have been making politics their
business. That's how they became
big and powerful. The people, the
business man, are o saying they
propose making politics their bust
ness.
MI. Hanna is a big business man, a
big banker, directly or indirectly in,
terested in a chain of banks CROSS
a%ectioning the state. The nucleus OF
bis wealth has been rapidly and vast
~ multiplied during the last seven.
teen years and during these seventeen
vasrs he has been actively engaged
An politics. So politics and business
pust have been highly profitable to
Ar. Hanna, for he has ostensibly Civ.
en- more time to politics than to bust.
ness.
a4r. Hanna, Al a banker-governor,
would not sacrifice his business in.
4~erests. divorce politics and business
e elected governor. There are Ger.
tain business opportunities for a
banker-governor in North Dakota that
p1aces the governorship at a high pre-
nfnm, with politics and business in
s%eparable. It is not saying Mr.. Hanna
would avail himself Of the opportuni-
~ to make $4,000 to $50, 900 or more
q year, make it legally without the
Investment Of cent other than the
investment of a few thousand dollars
for campaign expenses. It is a good
investment, this investment in poll
tics, that makes it possible to collect
interest in the thousand percentage
column.
Here is a business problem in state
politics that every tax payer and
those who have not enough worldly
goods to pay taxes on, should care
fully consider, analyze, and arrive at
their own conclusion.
Section 232, of the revised code of
North Dakota reads:
All funds of, the state shall be de-
posted by the treasurer in one or
more designated state or national
banks in the state Of North Dakota
on or before the first day Of each
month In the name of the state. Such
bank or banks shall be designated by
the board of auditors in conjunction
with the governor"
What "bank or banks" do you sup
pose a banker-governor would desig-
nate as a depositary or depositaries?
His W and those in which he is d.
Fect1y or Indirectly interested, or he
little banks throughout the state in
which he is not interested?
The state has on deposit approxi.
mately 100000 a year. The banks
are. required to pay the state from 2
to 3 per cent interest. The legal rate
OF interest that may be charged on
loans is IL per cent. Twelve per cent
interest on $2,000,900 is $4,000 a
year: This $4,000 interest is paid
TO the depositary and the depositary
Then makes a division with the state,
gives the state 100000 If it pays the
state 3 per cent. and keeps $3.50, 600
for the special privilege of loaning the
peoples money paid in taxes back to
them at an exorbitant rate of inter.
est. Take a pencil and paper and fig.
ure it out Yourself
Do you think a banker-eovernor
with the legal opportunity to make
$4,000 a year for himself and his
banking associates, without a penny
Investment other than campaign ex.
penses, would throw that opportunity
aside?
The law provides that banks shall
give bond and pay the designated in
terest on the amounts apportioned tc
them. Reports of daily balances
show that deposits in certain of Han
mas pet banks have exceeded the ap
portionment covered by their bond
The sum is neither protected by bono
nor do the banks pay interest there
on: so the banks under such circum
stances would take all of the IL pc,
cent they collect on loaning out state
funds.
The law provides that no deposit
shall exceed n half Of the capita
end surplus Of the deDositary. One
OF the banks mentioned has a capita
and surplus Of $500, 00G. 1t coult
therefore be legally entitled to $500,
oCo a year of state funds, and reck
oned on the legal rate OF interes
charged for loans. make a profit O
$4,000 a year. With one such banl
alone a hanker-governoI could in
crease his income from $4,000 a yea:
to $4,000, through politics and bust
ness. And if ne was Interested in
string of banks ne could further In
crease his income in like proportion
state funds are now wisely distrit
uted throughout the state among ar
p~roXimately 800 small banks.
DO you think a banker-governo
would be inclined to contract thi
wide circulation into his own bank
or leave the money where he coul,
make nothing out Of it? Would it b
a bankers judgment?
Mr.. Hanna insists that politics 1
business" he has been probably en-
gagged in both for seventeen years, an
would probably not change his min
II elected governor.
Do you think he would allow bus
ness to enter politics under such IA
vorable opportunities?