The herald-advance. (Milbank, S.D.) 1890-1922, 1913-01-17

everyone VINO has given serious con
sideration TO the matter. The more
progressive states surrounding us
have n after another adopted it, and
where once adopted there never is
talk of again laying it aside.
inheritance Tax Report.
The attorney general in his report
calls attention to the condition OF our
inheritance tax law, pointing out ser
ious defects in it, which seem to make
it inapplicable 10 our conditions and
practically useless. He states that
acting in conjunction with F. f. Sni.
der states attorney of Faux county,
he has secured and examined every
Inheritance tax statute enacted in the
different states, and has considered
practically every case where such
statutes have been construed, and out
Of this experience recommends the en-
actment of a new statute. ! endorse
this recommendation, and suggest
that you give it your attention. 1t is
a matter OF the utmost Importance to
the state, not only because of the rev.
enue it may bring in, but because a
properly devised and adequate system
Of taxing inheritances is one of the
most equitable methods of taxation.
Primary Elections.
The primary election system Of
making nominations has justified it
self. A new primary law making
some fundamental changes in the sys-
tenn of nominating candidates, enact
ed by the last legislature and submit
ted to the people under the initiative
provision OF the state constitution,
was adopted at the late election. Hav-
ing been thus approved by the voters,
it, of course, must be given careful
and thorough trial without change.
1t will be your duty to make such ap-
preparation of funds as may be neces-
sary to carry it into effect.
Our law defining and prohibiting
corrupt practices in connection with
elections should be improved and
strengthened; those who may contrib
ute to, receive and disburse campaign
funds, defined and limited; candidates
and personal representatives of candt-
dates, political committees, and chair
man, secretaries and treasurers OF
such committees defined and their
duties outlined and limited. ItemiZed
detailed statements of moneys re-
ceived and disbursed should be requir-
ed to be filed with the proper officer,
pending the campaign and before
election, and final, complete state
ments, making full. itemized and de-
tailed reports Of all moneys received
and expended, from whom received,
to whom paid and for what purpose
after the election. The law should also
clearly define who may and may not
contribute TO campaign funds, and
from whom contributions may be ac-
oor+aI Nv nc11aGto1 onI To whom and
for what purpose campaign money
may be disburscd or paid, and limit
ing strictly the purposes for which
money may be expended in political
campaigns; placing a positive limit
on the gross amount that may be ex-
pended by. for or in behalf of any
candidate, such limit being based
either on voting population or the
emoluments Of the office, providing
that in no event shall the amount that
may be so spent by, for or in behalf
of any candidate be so much at any
election a. one years salary OF the
office he is candidate for.
Public Printing Cost.
| call your attention to what be-
1ieve to be the excessive cost of our
public printing. for some reason this
SpeIBS 10 bt SlO"iHS W. CAIN 2H'
cessive biennium, until it O. amounts
to a large sum. This is a very import
ant matter. and merits you most
careful attention. After looking into
it with some degree Of care | feel war
ranted in saying that We are paying
for printing nearly or quite double
what we should.
Guaranty of Bank Deposits.
I recommend and urge the enact
ment OF a we'll considered, carefully
prepared bank deposit guaranty law,
by which depositors may be made
safe beyond peradventure in deposit
ting their money in banks chartered
by the state. The system has been
in operation now for several years
in Kansas and Oklahoma. long
enough to fully test it's effect in opera
ton, and it is giving satisfaction to
the people.
Many of the bankers of this state
seem opposed to such a measure. | am
inclined to believe that their obiec-
ions are we'll taken to some of the
proposed measures. but | believe a
law can be drawn eliminating every
Objectionable feature. | am perfectly
clear on the proposition that the law
should be passed.
investment Companies.
There is a widespread demand for
a law to protect the public from i'm
position through the sale of worth
less stocks. of companies of question
able standing, and the promotion OF
schemes ranging from the visionary
and impartial to the downright fraud
ulent. Schemes OF the most vision
airy and impractical kind, skillfully
advertised by enthusiastic promoters.
are made to look like safe, sure and
very profitable investments n the
public induced to buy in that belief,
when If all the facts were known in
regard to organization, amount OF
nominal capital. number of shares is
sued or to be issued. ancunt OF in
debtedness. character and value or
assets, or whether there are any as
sets at all. no sale could be made.
South Dakota, because of the general
prosperity prevailing among all class
~N% DIIo