The Mellette County pioneer. [volume] (Wood, Mellette County, S.D.) 19??-1971, 1924-03-21

DivERTS INTO DEFUNCT STATE
BANKS.
Mr.. j. w. Batcheller, president OF
the Farmers Union, advises farmers
TO support Sterling and is scathing in
his denunciation Of the governor and
his senatorial ambitions. saying 1.-The
governor would be wholly without
influence in Washington, and as sen.
ator would be wholly without value
to the tillers OF the soil. Something
besides spectacularism is wanted In
Washington.
"As to the gasoline war waged
with such bloody intensity by our gov.
ernor," continues Mr. Batcheller, ut
was tempestuous while it lasted, but
when we go over the fields Of the slain
we find the remains only OF the inde.
pendent dealers, while the Standard
Oil company OF Indiana has been en-.
riched 10 the tune Of over hundred
million dollars. In other words the
governor has succeeded in eliminating
the Independents. Probably he did
not intend to do so, but the fact that
he was capable Of so stupid Tolicy
as to bring that very thing to pass is
proof positive Of his utter inability TO
discharge the duties Of any public
office with any degree Of efficiency.
Let's State Banks Fail.
when | say his policy enriched the
Standard Oil CONF any Of Indiana more
than a hundred million dollars, | have
only to refer to the stock market quo
tations to substantiate my statement.
When the gasoline war started this
stock, the par value of which is $25,
was quoted at around SAT a share In
December, with the war over, this
company's stock w9s qNoted at $63 to
$65. Based on a Capitalization OF
quarter Of a billion dollars. the huge
profits can readily be figured. This
is how he ruined Standard Oil.
but while engaged in his mimic
warfare with an octopus McMaster
did nothing to prevent the actual ruin
|. OF many farmers and business men
in SO tn DllOta He stood helplessly
by while banks topIed over like nine
| pins, he put money in the vaults Of
| perishing banks that were loyal to his
machine. What right had Governor
| McMasteI to put rural credit money In
| banks which he knew to be in shaky
! condition? AS a banker he knew the
! conditions OF the banks which he en-.
! trusted with state funds, money that
| should have gone to the farmers. II
| he did not know Of those conditions
what Is his horde of state bank exam
! iners for? He placed about $4,000,
| 600 in these dead and dying banks. Il
| the head OF any business institution In
| the state had done this thing he would
! have been called upon to face a jury
J Of his peers
Foreclosing Mortgages.
Then again, McMaster said from
the platform at Sioux Falls when de.
batting with George W. Egan two years
, ago that never would a farmer who
! had borrowed money from the rural
credits fund be foreclosed while he
: was governor Of this state
But If anyone will take the trorble to
search the records he will find that
foreclosure proceedings by the scores
have been instituted while McMaster
has held the high executives chair"
Mr.. Batcheller ridiculed the claim
Of McAIaster that il elected to the
United States senate he could relieve
the railway situation and aid the farm
ers to higher price for their grain,
Speaks OF Sterling.
Turning to Senator Sterling, Mr..
Batcheller says "Is 1t not much bet
ter to put a man in office who has
had IL years experience at the nations
capital? Sterling is perhaps not all
we would desire in progressive way,
but he is at least sincere, honest, up
right, trustworthy and efficient. He
has many important committee as.
signments including the judiciary and
reclassifcation committee, and is
chairman Of the committee on post
offices, position Of vast Importance
to South Dakota where the rapid
growth OF the state is constantly de-
manding better postal facilities.
OPEN LETTER TO w. II. M'MAsTER
My Dear Governor:
You have been member OF hoth
houses or the legislature, Lieutenant
governor four years, governor nearly
four years and you are now asking that
the people send you TO the United Sta*es
senate. The following questions natur-
ally arise
What have you done as a member of
| the legislature, as lieutenant-governor
or as governor to demonstrate your Ar
senate?
What constructive piece of leeis,a.
tlon nave you had any prominent part
in during the sixteen years that Won
haVe oeen IN ofice in South Dakota?
just what part of your record do you
point out TO with pride?
What particular law or laws Of bene.
MT to the farmers have you had any
| prominent part in?
Does the mater Of taxation occur to
you as being Of any considerable in
terest? A
What was the per capita cost of the
state government Of South Dakota when
you assumed the executive chair?
what Is the present cost Of the state
! government per capita after you have
been in control for a little more than
three years?
How many banks were doing busines.
In south Dakota when you took the
office OF governor?
How many banks have failed durine
| your term as governor?
rave net these banks been under
your supervision through your hanL