Devils Lake inter-ocean. (Devils Lake, N.D.) 1909-1915, 1913-06-13
fldence Of the people Il this city has
ono bank cap zed at $40, 5000 !, the

has exactly double the security for Its
money and in addition has the ad.
Editional benefits and courtesies that
comp petition always brings. We. rail
at comp Edition, yet competition is the
milestone that sharpens business life
and makes men and business progress
sive. 1t is the spur that makes good
business better. Under the law no
man can start a bank unless he has,
and is able to show the bank examin-
er that the capital is on hand to- do
business with. That capital is in,
vested in the city or town and helps
to finance and carry on the Industries
and businesses Of the. city or town.
Why should there be any attempt
made to prevent that investment. No,
the increased number Of banks, while
it may sometimes be hard on the bank.
.ers, does not diminish the safety OF
the depositors' money nor does it in
present, system is insufficient to Gre
ate confidence in the banks why not
revert to. the guarantee Of bank de-
posts question which Governor Han
ma advocated some years ago, and
which he dropped very suddenly. That
would be a cure y ~ -z$& n ID 9s.;i.
One may ask why this sudden move
to prevent the creation of more banks
and Ito protect those that are in ex-
istence from new competition? The
resolutions have sort of diffidently
disquieting sound, as though the state
banks were in peril. Are the state
banks rickety? If so, are, they any
that the national banks in the state?
It is safe to say that the state bank
ing history will show-despite the
care exercised to prevent the starting
of new national banks by the federal
officials-that as many national banks
have played Titanic and gone down
with the money that people confided
to their care as state banks-and may
be more. So that the resolution is
the present state banks-if it would
aster in the future.
F. It is argued that when two or three
banks are conducted in a community
that would properly sustain one,
eventually the three combine and there
Is a wide margin Of loss in the com.
bination. Buildings are generally put
up and fixtures secured and when the
combination Is made, the fixtures are
almostSa total loss while the buildings
may be a dead investment and lie
idle. thus tying up the capital that
might otherwise be active. But that
loss doesn'a AFFECT the depositor or
|endanger his money. And there are
mighty few towns in this state where
an extra building Is not grabbed UP
soon for some other line Of business.
In Lidgerwood we have built
years, but the other buildings these
banks occupied are not vacant or a
lost investrnAnts How many old bank
buildings are empty in North Dako.
Ita? Why, it's a kind of reflection on
the growth of the towns in the state
and the state itself, to even inslnuate
that an extra building ds money lost
in a town. r
We are afraid that after all, this
talk OF protecting the depositor is but
a specious pretense, done to cover an.
other motive. The resolution may
seem to say two words for the dear
depositor and one for the poor banker
but it means Just the opposite.
II you are going to to give
onss man power to prevent new com.
petition in banking and at the same
time placing in his hands the names
of every bank stockholder and the
number of shares he owns, is not mo
| nopoly It is dangerously near it. And
If that one man is himself banker
his own line Of banks and with an as
tute insight into banking operations
this prohibition Of new banks loolne
more monopolistic than ever-omin
ously SO. o." -. =. -. So
! No there is no politics in this. We
are satisfied OF that. It is a purely
business deal, with it's margin of pro
tit and its advantage. It is not even
good politics. It is just Big Business
setting itself to either swallow or con
troll the little fish. f. It is on a par witt
the agent Of the Rockefeller bank hav
ing desk in the United States Treas
ury department, keeping his LITTLE
dnger upon the pulse Of the nations
finance, for the Rockefeller profits
Good business! Good Hunttng!" Of
Kaa, the Python said when he danced
In the ruined palace OF tlaa cold
liars by moonlight and hypnotized Il
their death the Bandar Log. 4
BETTER pU9Llc SENTIMENT.
Every few years we suddenly wake
up toIthe TACT that the community has
taken q long step ahead on some sub
5ect Uf vital interest 70 dts citizens. "A
few years ago the man who said We
could ever have strict law enforce
ment In Devils Lake was laughed az
Today men accept dt and say Ct wal
bound to come after ali. VI ia actual