Ashland tidings. [volume] (Ashland, Or.) 1876-1919, 1912-09-16
AGAINST COUNTY BANK
II. ID. Sanford Protests Against
Movement i'm Initiative Petition
for Such an Institution.

Editor Tidings: On opening my
prediction pamphlet the first thing
discovered was a loose leaflet (ap5
parently delayed, from lack of confil
dence in their scheme, until the last
moment, like a rattlesnake who is
compelled by an inexorable law to
give warning before he strikes your
death Blow setting forth an act for
the consideration of the taxpayers of
Jackson county, who will eventually
have to foot the bills in taxes, enti-
tied AN act to provide funds to
build roads and bridges in Jackson
county, Oregon, under what is known
as the Scott plan to save Jackson
county, Oregon, 100000 a year in
interest, and provide for the redemp-
tion of all outstanding Jackson coun-
ty warrants in excess of the legal
limitations. After studying the
matter, | feel like exclaiming with
the Psalmist, The words of his
mouth were smoother than butter,
but war was in his heart; his words
were softer than oil, yet were they
were drawn swords" And | feel like
Patrick Henry when he exclaimed,
Shall we lie supinely on our backs
until the enemy shall have bound us
hand and foot" or shall we arise in
our might with that strong club, NO,
and kill the reptile before his poison
Gus fangs are fastened upon us?
The Taxpayers National Bank of
Jackson County, Oregon," Oh, what
Joyful sound" if run in the inter
nC nf Tho NXrhnln nnnnla inctnaI Of a
clique, who, not satisfied with bur-
dening the taxpayers with 100000
Indebtedness above the legal limit,
which warrants | hear they have
bought up at about 80 cents on the
dollar, and drawing interest at per
cent face value, want the taxpayers
to bond their homes to borrow
money from Uncle Sam to place in
easy reach, and in legal money, so
they can get their warrants cashed
after the bank has been in operation
six months, at their face value, with
accrued interest, and thereby make
a clean rakeoff from the taxpayers of
Z p per cent interest since purchase
of these warrants, on the money act
ually invested in these illegal war
rants. It's a wonder to me they
could even allow six months opera
tion of the bank 10 elapse, before
asking for such an easy though dan
gerous rakeoff.
Now, my taXpaying brother who
has a vote, and my taXpaying sister
who has none, let us look carefully
into this deceitfully worded act, and
protect our interests by voting it
down, or forever hold our peace"
so far as complaining to one another
about high taxes"
If this county bank is authorized
and run on the lines set out in the
act, it means, of course, that the
principal will all be exhausted in pay
ing of these illegal warrants, with a
I271a per cent rakeoff to the holders
thereof, who probably are largely
bankers, and in paying exhorbitant
salaries to a great horde of officials,
and the little balance left will be ap-
piled to our road and bridge build
/ ing, to at least keep within the act to
make a showing, and then, Mr. Tax
payer, your jackson County. Ma
tional Bank" is busted, and you have
such an encumbrance on your prop
erty due to Uncle Sam, that you will
not be able to work it out during
your lifetime, and you can't sell out
and run away from Jackson county,
because no one wants as a premium
! for getting "one subscriber" a nice
farm in Jackson county, Oregon, full
| ly fenced and set to trees, with a
mortgage on it for all it's WORTH
Now suppose we initiate a meas
ure to start a Jackson county
bank" and carry it on in the interest
of the whole people, as the other
banks do to their private interests,
and not spend the principal at all,
but loan it out to our own people
who want to improve the country in
production, manufacturing and busi-
ness lines, at per cent interest,
which would amount to 100000 per
year clear, to be expended on our
roads and bridges, or be again loaned
to accumulate more road and bridge
money. When we did get enough
ahead to begin the job, and later
when we accomplished our purpose,
we would yet have the principal to
pay back to Uncle Sam, and remove
every encumbrance from our proper
ties without a cent of taxes having
been paid for this purpose. | figure
such bank would receive enough
general business from the publicc
outside of this to be self-supporting
and make money besides. Other
banks do. R. D. SANFORD.