The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1924-05-08

must be gradual and that the bust
ness institutions of the country
should lower wages and prices OF
materials slowly, but surely to pre-
vent a panic and to give everybody
chance to unload, but on smaller
margins of pront. The whole
country expected lower prices and
were getting ready for it. Then
came the offer of government loans
to get the gold of the world spread
out among the American people on
various kinds of paper with red tape
and delays. The government, acting
thru the federal reserve bank and
various other organizations, tied up
with mortgages the herds and fiocks,
the COWS, the pigs, the work horses.
and everything for loans that gen.
orally came to hand too late to serve
the purpose intended, and left the
borrower handicapped so he could
not transact ordinary business with
the resources he had. The plans of
the business institutions of the
country based on what the Chamber
of Commerce had recommended were
swamped by this unsound economic
venture and prices scared higher
LudU ever anu oPCOoO0 VI
to meet an infamed and unnatural
demand. The country was saturated
with products, warehouses were full
everywhere, and then came the rush
for liquidation under command of
the Federal Reserve bank that
pressed for cash payments from the
very banks it had been advising to
be active in getting the money out
among the people, the banks, of
course, guaranteeing the individual
loans on the assurance of the Federal
Reserve bank that was their policy
to furnish plenty of money.
1t was these conditions that broke
the Standrod bank along with sixty
others in Idaho; that broke every
third bank in Montana and every
fourth bank in the Dakotas. In
Montana they gambled in wheat, dry
farm land and cattle. In the Dakotas
they gambled in grain and fool leg
islation, including state owned ele7
.vators and packing plants. In North
Dakota the arrogant politicians had
told a farmer delegation few years
ago to go home and slOp the hogs,
and the resentment of that insult
built up the nonpartisian league,
with all the unsound legislation and
business that followed, and now the
farmers of the three states, North
and South Dakota and Montana are
actually accepting hogs and heifers
as gifts from former political enemies
and are glad to have something to
slop. In those states the bankers did
everything which the mind of man
could devise in high finance during
the boom days, and then went to the
opposite limits in violations OF the
banking laws trying to save them
selves during the panic. There are
whole counties in Montana that had
country banks at so many cross
roads, and all of them broke now,
and all the cashiers guilty OF some
thing, they haven't money enough
left to put the guilty parties on trial.
Idaho thinks she is in hard straits,
but in comparison with the states
named above, Idaho is in pretty good
shape.
The Other Case
at Boise
The other unusual case decided
last week at Boise was an infraction
of the moral law by people of posi-
ton and beauty amounting to prom
inence. Guilt was practically ad-
mitted, but it was considered that
unfair and dishonorable tactics were
resorted to in securing proof of such
guilt. The man held position of
honor and trust and when he was
caught, he was told at the moment
that what they wanted was his resig-
nation, for there was political enmity
He is said to have agreed to resign
if that would save disgrace for him
self and humiliation for his family,
and that was agreed upon as being
all that both parties desired. AS soon
as his resignation was filed and &C
copied, the whole story was given to
a hostile press and prosecution was
started
The public press of the city told
and retold the story at every chance
they had until both old and young
were made aware of all that had
transpired. 1t is doubtful if any
percentage OF people IN
Ada county had not considered 1t and
taken sides by the time it was tried
in court The press had been so bold
and so hostile to the man and woman
accused that the case was tried be-
hind closed doors and the reporters
we're barred, and were told by the
presiding magistrate, Judge R. W.
Adair, OF Bingham county, that II
they gave any more such publicity to
the case while it was being tried,
they would be dealt with for con-
tempt of court.
Four days were spent in finding |
Twelve men of the people who could |
near the case and promise to render
l true verdict The defendants
themselves took the witness stand |
and frankly admitted that as a gen
,ral thing they two were not keeping |
he seventh commandment, but
denied violating it on the particular
occasion named in the complaint as
he basis of the suit. Knowing their
guilt as well as they knew they were
alive, the jury returned a verdict OF
lot guilty, and have been receiving
ever since. The at
.orney, who defended them and
brought about this verdict, was kept |