The Miller press. [volume] (Miller, S.D.) 190?-current, 1921-01-13
1t would be the BART Of wisdom un.

If a bank oil $500, 900 of deposits finds
that its reserve is depleted and II can
not obtain further credit it now be-
comes the duty of the bank examiner
to close the bank and draw OF the de-
post and guaranty fund for $500, 900.
II on the other haId, the bank examin-
er were empowered by suitable legis-
latin to tide over banks whose assets
were sound, by drawing for a limited
amount upon the guaranty fund, valu-
able institutions might be saved with
out loss and a slight expense.
State Warrants
The hail insurance warrants bearing
a maximum rate of interest of six per
cent, are unstable.
This is a matter that needs prompt
attention by the legislature. Temper
arily, at least, the rate Of interest must
be increased so these warrants may
be sold and hail claims promptly paid.
The revenue and general warrants
also are limited TO five per cent inter-
est and at the present time are unsal-
able at that rate. The finances OF the
state make it imperative that this rate
be Immediately changed for the time
being, in order that the state may
maintain its credit and promptly meet
the obligations.
Economy
Great business depression prevails
throughout the nation. The crop val
ues of the farmers during the past six
months have shrunk by more than five
billions of dollars. The State of South
Dakota, like many other states is pass
ing through a financial crisis compare
BILE only to the distressing years Of the
period between 1893 and 1896. The
farmers are in the depths of deponden-
Cy and encouragement and this de-
pressing influence has been felt throu-
gnout every line Of business. By ne
cessity the farmer, the business and
professional man, are exercising the
most rigid economy in the conduct OF
their business as we'll as in their per
3Onal affairs.
1t is the solemn bounden duty Of a
legislator or public official to conduct
governmental affairs with the same
prudence and careful consideration he
would apply TO his own business al
fairs. In time Of great emergency and
distress no undue, unjust or unneces-
sary burdens should be placed upon
the taxpayers of the state. 1t should
he the tax payers hour in court.
| therefore recommend, because the
times demand it, that in your appropri-
atoms you exercise thorough, rigid
and old-fashioned economy but to the
extent only that no injury be worked
to the best welfare of the state.
No Governors House Now
On the subject of economy | wish &c
be specific in one reference, i. e. that
no appropriation be made for the
building Of a COVER oT's home. Whilt
a suitable home would be a source Of
pleasure and delight to the present
incumbent and his family, yet if the
chief executive, recommends a pro,
gram of economy he should gladly
meet and face the Inconvenience there
of. The argument may be advanced
that for twenty years the %appropria
tons have constantly increased, anC
at each succeeding election have me-
with the approval Of the people. THAI
is true, but during this period we have
been constantly borne forward on the
lSilS W. VI piOSpNl ny al II pNOpi'
of South Dakota, fair, just and honest
in their verdicts in prosperous times
: 90 not object to liberal appropriations
for worthy objects.
But in emergency times, in a finan.
cial crisis, we cannot follow the fam
liar and beaten pathway OF the past
You must pioneer amid new and
strange conditions and formulate
strong policies to meet those condi
lions. / trust that you will permit NJ
influence or appeal to swerve you from
the course of plain and unmistakablt
duty, bearing in mind the essentia
and vital needs of the state.
Education
There is no state activity of greater
importance or of more far reaching
influence than education. The ques
ton Of what is the greatest thing tina
can be done for a state has been pro,
pounded time and time again. and in.
~variably the ablest men of the country
have answered, education.
The achievements of today, our Op
p%ortunities and privileges, had theil
foundations laid in the past, and the
forces set in motion in days gone by
have, to a very large extent, determin.
ed present conditions. So we of to,
day are laying the foundations, shap.
ing the mold, creating forces that are
going TO determine, in a very definite
manner, what the condition of the
state will be twenty-five years hence
investments made in education pay
dividends far in excess Of any Other
form OF investment. Every child in
the State of South Dakota should re,
ceive a common school education
nothing is more essential to the wei.
tare of the state. Common school edu,
cation is necessary for the protection
and preservation of our institutions
and, in addition it is a duty we owe
to the children for their own sakes
They are helpless to help themselves
II is a cruel injustice to childhood 10
permit its future opportunities and
best interests to be dwarfed and cur
tailed throuhg lack of a common
school education.
This matter is of much paramount
importance and strikes so deep into
the very life of the state that the state