The St. Joseph observer. [volume] (St. Joseph, Mo.) 1906-1932, 1922-01-28
10 the Editor of The Observer:

dream on the Mississippi river or on
tho Tennessee either. But some one
will.
Capital is a friend not an enemy,
Of the people. 1t is capital, not doc
| trlnalre dlsquisition, that puts bread
and butter on the tables OF the people,
clothing on their backs, furniture In
their homes and sunshine in their
hearts. Soviet Russia now realizes
this.
The governor insists that North
| Carolina has established a splendid
record in the growing of crops. but
he wants gardens. lie wants the FAM
| lily to have evely food that is required
to make a balanced ration. Milk,
vegetables and fruit are required,
What did the recent "clean-ups"
clean up, anyway? The more you
learn the more you know.
Latest strike news: Health depart
ment says we must all keep our feet
dry and warm during this moist spell.
A congressional committee Is going
"buy up" all the liquor supplies in
the country. They seem to forget that
Uncle Sam hasn't but fifty billion
"shekols" to his credit.
Well the Night and Day Bank in
st. Louis and It's officers and directors
have discovered that Almighty God
is no "rcspecter Of persons" Just as
Governor Small (smalD OF Illinois has
discovered that he is a rather small
potato" after all.
The Night and Day Bank in St.
Louis has gone "dcfunct" and left the
dcpositors of said bank "out in the
cold" In other words the officers
and directors of said bank have
"looted" and "gutted" It completely.
so it appears. At any rate, the Off
GERS and directors have been indicted
by the grand Jury and placed under
heavy bonds for their appearance in
court and to give a strict accounta-
bi'ity for their deeds done in the
body"-accordinF to Scripture, and
the banking laws OF the great state OF
Missouri.
The accountability OF bank officers
is inesCapable-their financial ac-
countability under the law and their
moral accountability over and beyond
anything defined by law. The bank
ing business Is no mystery" Appar-
emily neither law nor prudence was
followed in the Night and Day bank.
The bank, It seems, was looted" by
! its officers and directors. Great sums
had been withdrawn from its funds
for private speculations, with the GER
tainty that any profits" made would
losses" incurred would be imposed
on the bank. How was it possible for
this to be done without knowledge Of
at least the executive officers? This
bank, it is said, also accepted deposits
while in an insolvcnt condition. The
whole business management Of said
bank looks rotten" to say the least.
Stated in business terms. the patent
fact is that Soviet Russia is paralyzed
by an unbearahle overhead charge"
Its administrative unity requires the
maintenance OF a pOllce-power that
costs too much; the productive system
cannot bear the weight" OF the po-
litical or protective system.
Now comes the news that az per
cent Of the banking power OF the
South was lodged in banks which
have not become members of our Fed
eral Reserve System, and in the West
, 80 per cent OF the banking power was
not included in the system, while In
strength remained outside OF the sys-
tenn. All OF this banking power should
come into the Federal Reserve Sys.
4 TEN without unnecessary delay. NOT
only for the purpose OF strengthening
: the system. but for the purpose OF
!. uniformity and protection Of all mem.
bers OF our federal reserve banking
system and for the purpose OF facili
tatlng ana expediting their banking
business everywhere. Now II tn,
Federal Reserve Board will administer
the system as intended in the Law
Gree from all "dictation" from Wal
street influences), our federal reserve
system is and always will be the bes
: constructive banking system ever de
= ylsed and ordained by the subtle In
tellect OF man and will forever put al
\ end TO all artificial" panics In thes,
| United States OF America.
1 Now as to tho soldier bonus, II ap
| pears that the great and increasing
| volume of monty put into tax-exemp
| securities and thus unfairly escape
I its just burden Of taxation renders /
! ! aompwhat dIfficult fnr Congraaa o.