The midland journal. (Rising Sun, Md.) 1885-1947, 1933-03-31
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National Topics Interpreted "a fFMTRFRSSA
by William Bruckart @T3fF
National Topics Interpreted
by William Bruckart

above and one Of the ablest banking
students of the time, says there are
actually thousands of banks in oper-
alton that ought never have been or
ganized. There was no need for them.
He referred to some Of the real small
institutions as pawn shops, adding
that they were of no service to their
communities and that they toppled
over at the first sign of storm.
But there is another school of
thought. Those on this side Of the
! question argue against extension OF
the branch system and the limitation
on the number of banks as placing
dangerous power over currency and
credit in the hands of small number
of individuals instead of distribution
of that power among the communities
where the banks are located. From
this viewpoint. too, it is said local COM
munities will be denied accommodations
at the bank with which they must do
business. have heard 1t argued at
length that branch of bank In
distant city will have its hard and fast
rules, and either the local citizens
meet those requirements or fail to
get loan. If that be true. of course,
it means destruction of one of the
basic rules of credit, namely, the char
acter and record of the borrower.
At any rate, these are the points set
up on each side of the question. I'm
doubtedly, there is merit to each ar
gument. Moreover, experience seems
to have demonstrated that varying
conditions make the two propositions
work differently in different communi-
ties. Yet, whatever may be the view
one holds, it cannot be denied that the
emergency banking act is an enor-
nous stride in the direction Of a uni
fed banking system. If it produces
stronger banks everywhere, 1t surely
will have been blessing even though
it leaves sore spots and heartaches in
many communities for the time being
as a result of the harshneSS of its
terms.
President Roosevelt's bold action re-
specting the banking situation resulted
in many persons
Move Required overlooking what /
Courage am inclined to re-
gard as move that
required more courage when consid-
cred from the political standpoint. He
was able to gain quick and decisive
and almost unanimous action on the
banking legislation because OF the
perilous situation. He had no such
united support when he asked congress
to give him dictatorial powers to cut
government expenses. Especially Is
this true concerning the right he
sought to trim down the payments be-
ing made to former soldiers, sailors
and marines whose compensation was
being given in cases of physical dlsa-
bility that did not result from actual
service in the fighting lines.
No one knows, nor can anyone tell
how much money is being paid for dis
ability not connected with the service.
It is known, however, that the total
payments to veterans exceeds $780,
100000, a vast sum even for our rich
country.
There seems to be no eQuivocatiOn
about the willingness to pay compen-
sation to veterans who received in
juries in the fighting lines. That is
undoubtedly their due. 1t is the least
a government can do. But where the
compensation is being paid for things
that have happened since the war,
there surely is room for doubt. That
is the type of payment which the Pres
ident says he is going to eliminate.
Now that congress has put through
the legislation permitting tile manu-
facture and sale Of
Drys Keep Up beer with an alco-
Fight on Beer hOlic content, some
thing near what
beer had before the days Of prohibit
ton, much speculation has arisen as
to now the matter will be viewed by
the Supreme Court of the United
States. The question surely will get to
the Supreme court III rather short or
der. Prohibitionists are not going to
be licked without that final test.
In view of these circumstances, it
may be interesting to recall an argu-
ment made privately by former Sen
ator John ]. Blaine of Wisconsin,
when he sought to get action on beer
bill In the last session of congress be-
fore his term expired. Senator Blaine
took the position that it would be I'M
constitutional for congress to pass
beer legislation that would authorize"
the manufacture and sale of beer
where it contained an alcoholic con-
tent in excess of one-half of per cent.
But he contended that if congress en-
acted legislation declaring there was
no penalty to be used where the alco-
holic content was below stated fig
ure. there was nothing which the Su-
preme court could hold to be uncon-
stitutional.
In other words, the way he proposed
to make beer legitimate was by a neg
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