The weekly times-record. (Valley City, N.D.) 1912-1922, 1922-10-05
MAKE A CLEAN JOB OF 1T

MAKE A CLEAN JOB OF IT
With the experience gained in try
ling to bring to justice the men who
looted the Scandinavian American
bank, Attorney General Johnson sug-
|gests certain changes that are neces.
permitting directors to become mere
dummies" would be ended.
He wants steps taken to prevent
|subterfuges by which excess loans are
made, as was done in the Scandina-
Wan American bank by mere "straw
men" who signed accommodation
notes."
Another change which Mr.. johnson
does not suggest, is one giving some
force to an affidavit. Under our pres
emit law and the construction placed
upon it, a sworn affidavit before no.
tary has little more meaning than a
street corner conversation. That was
also revealed in the Scandinavian
American bank case.
Mr.. Johnson's suggestions are good
as far as they go, but why not make Il
good job of it while we are at it?
Why not have commission consist
ing of a few of the most reputable
bankers and lawyers we have in the
Estate, with proper representation of
farmers and the public in general.
appointed to work out a new code Of
banking laws based on the very best
legislation now in effect in other
states?
1t is far too easy to engage in the
banking business in North Dakota.
Enough safeguards are not thrown
about the depositor's money.
When state can have so failures
among its banking institutions in one
year, there is something wrong with
it's banking laws, even though a Sc
we're panic and drastic deflation might
be pleaded as an excuse for the fail
ures.
, If the banking laws are to be
changed, let us make thorough job
of it and get the best code that is
available.-Forum.
THE VETO OF THE BONUS BILL
President Harding's veto of the bo-
nus bill is logical conclusion from
the premises on which he has so con-
, sistently stood in dealing with this
question since it was first mooted. He
champions aid to the utmost for those
who cleft the armies injured, disabled
or diseased, so that they could not re-
sumo their places in the normal activ-
tiles of life"-and that this champion
ship is not of words, but of deeds is
evidenced by the impressive total of
expenditures under his administra-
; ton for maintenance, benefit and i'm
provement of such. He is conscious of
the debt of gratitude that the nation
owes it's ex-service men. But he is al
so conscious of obligations of steward
ship that are on him as the nations
chief magistrate to guard its Golfers
against unnecessary expenditure, to
safeguard it's future from unnecessary
burdens, to subordinate political to ma
tiona] considerations in dealing with
proposed legislation that would confer
questionable benefit on a few million
at the expense Of all the people, to
render justice to the many rather than
favor to the comparative few-and
therefore he has vetoed the bonus.
The Presidents veto message is a
statesmanlike document that will car
Try conviction to every fair minded cit
lien that it's author wrote it as he
heard the nations welfare dictate and
that the bill to which it refused assent
is unworthy of enactment. With clear
cut logic the President exposes the in
justice that would be worked on the
American people by such legislation
and demolishes this proposal to donate
approximately $5,O00O 100000 of the
peoples money.
The bill would donate, but not fin
lance. The majorities that put it thru
: the two houses would enact the role of
bonus donors, but the task of supply
ling the wherewithal they would leave
to others and to other days. The
whole thing smacks so plainly of an
: effort to curry favor with ex-service
: men, regardless of consequences to
the nation, that it is vetoed by the log
: ic Of citizenship as convincingly as by
i the Presidents message.
The veto will create no surprise in
those who have followed the Presi-
L.