The Vinita daily chieftain. [volume] (Vinita, Indian Territory [Okla.]) 1902-1913, 1913-01-08


voted for this law, have this to say:
yes" was speaker of the house
Of the First legislature that ever pass.
ed a guaranty bank law, and we could
not foretell what the result would be;
the question was novel and largely eX-
perimental, and fro mexperience we
have learned that some changes are
needed If we guarantee the public
and the depositor against the dishon-
guarantee the honest banker against
the dishonest banker. And since bank
ing is a business proposition rather
than judicial one, the banking board
should be the sole judge of the num-
ber of banks that should be established
in given town. Some measure should
be provided whereby a guarantee fund
could be created and enlarged, plac-
ing limit upon the same in given
year, so that the public will have an
interest as we'll as the bank in main
tanning the system. While the maxi
mum rate asked for by the State Bank
ing Association may be too low, they
are, nevertheless, entitled to some re-
lief along this line. | certainly think
they are right in desiring the penalties
for the conviction of any state banker
who wrecks one of those institutions.
1t should be the policy of the law, as
well as that of the courts and the pub
lie, to stand behind of and protect the
honest banker, but to hurl all the
power possible for the degradation and
conviction of the dishonest one, wheth-
er his purpose be to fleece the public
or to fleece the fellow bankers. Okla
homa, having the initiative, the guar
anty system, has proven an example
to other states such as Texas, Kansas
and Nebraska, and it is up to her to
protect this system in the light of trial
and experience. Nothing that can
come before the legislature can re-
quire greater consideration than these
wise amendments to the guaranty law.
A Blue Sky Law
to prevent the sale of bogus stocks
based upon iicticious values together
with a statute similar to one passed
by the house of the first legislature,
that will prevent the secretary of state
from issuing a charter to any corpora
ton for any purpose, unless the terms
of its chartered existence has been
passed upon by the corporation COM
mission, to determine whether it has
complied with all the provisions of
law and the constitution, should be
passed. 1t will be recalled that, al
though the constitution prohibits the
chartering Of corporations to specu-
late in lands, nevertheless such insti-
tutions have been chartered, because
of the lack of such statute.
A Limit Upon Expenditure
of the contingent fund of the various
state officers while travelling out of
the state. should be provided for. In
deed, no state officer. except the gov
ernor, the state treasurer and them
only when handling the fiscal affairs
of the state, the attorney general, while
attending federal court and procuring
evidence, and the corporation commits
sion and its representatives, and them
only when representing the state at
rate hearings, should be permitted All
other officers of the state should be
compelled to pay their own expenses i
while travelling out of the state. \ bit |
of Investigation on part of the legisla- |
ture, during the past two years, of Ger
tain state officers, as to where they |
have been so long" will disclose the |
necessity of such a law, and in this |
connection might add that there is
not department of state but what
some of the assistants might be Topped |
off, and this is especially true of the |
land department
The Farmers Credit System
now in force in Europe should be look
ed into, and an appropriation made for
delegates to attend the trip to Europe |
to investigate the land Sheiften sys
tenn of Germany and Reitisen Bank of
Europe,
Provision should BE- made whereby
every Normal school shall provide for
instruction and training of every teach
er in a knowledge of the laws govern
ing rural health and sanitation, thus
saving these communities great eN
pense and from loss of vitality and
4 mere knowledge of physi-
ology will not suffice to satisfy these
needs.
Gambling in public places or fixed
abodes in our cities and towns has
grown to be almost an institution. One
has to but visit such places in Okla
homa CITY and count the young men