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About Custer County Republican. (Broken Bow, Neb.) 1882-1921 | View Entire Issue (Oct. 15, 1908)
TIJlil KKK'BUUAN , UlOTMR UOUiNfTY , \ y Eliall Unnkii Be Mntlo IJ.ililc for Gnu Another's DcItsV Rocognteed Authority on Plnnnclal Questloun DlscusBon 1'rnotlcal Bearings of Proposed Gunr- autco Plan. ( By doorse E. HnlirrlH , Connor Di rector of the Mint. ) The proposal to require the Imnks of Iho country to gimrnntoe ouch other's fleiwnllH owes Ito preHcnt BtroiiBlli to llio ( Inniicltil dlsturbiinco of hint full. It IH urged HH a menus of prevent Inn panics , nml there Is no dlsiiKm-mont nbout the ilwtlrnblllty of iicfoiii'illHli- Ing Unit purpose. Most of im unreo Unit n repetition of the condllloiin which oxlHted lust fall should ho ninilu Impossible , hut this IH by no IDOUIIH the only \vuy to do It , or the bent < vny. For years the advocutcH of compre hensive curronry reform have pointed out Unit with tt\\,000,000,000 \ of hunk dcpoHlla In the country and only about $11,000,000,000 of money nil told In the country , ooth In the bnnkH and out , there should be Bomo method provided by which , on the bnHlu of K"1 ' ' KHOS | , the supply of lawful currpney could he readily Increased to meet exceptional demands , whether such dcinnndw were due to soasoiiH of unumml buHl'icm * ac-- tlvlty or to alarm mnonc depcmllors. Their forcHlKht and iirgumuntii did not avail , but they arc hardly to bo swept off their feet now by Impatient zeal for this now , and , as they reward It. Ill- consldurcd oelieino. They utnnd for n complete and scientific treatment of the subject The cnarnnty of dppoults IB u crude and Imperfect remedy at best. It dona not recoKiilzc or attempt to euro the iMocts In our bunking and eurrouey pyHtems , but alms only at depositors not to draw tliolr The loascH to depositors by the failure of national banks has become an liml - olllcant percentage , and IH growing ICKH every year , as n result of natural , evolutionary lutionary progress In banking. The standards nr belnjj conetiuitly raised , nnd the ctllclency of ofllelal Inspection nnd Hupervlslon constantly Improved. The true line of development is not by any revolutionary policy , but by hold- Inc Individual bankprH to yet stricter account , and at the same tlmu enabling ev * ry properly conducted bank to readily obtain a supply of cur rency to meet all demands upon It. The fundamental weakness In our currency system Is lu the fact that It IH not readily responsive to the needs of the country. The legitimate demand for money varies from year to year , ami from Benson to season In the utimu year. It Is a famlllur fact that there Is u great deal more business to be handled from September 1st to Decem ber 31st each year than In any other four months of the year , but there Is no more money In the country unless gold Is Imported for the purpose. Would Iiciul tu necUlux * Iliinklnif. As a remedial measure the guaranty of bank deposits Is not only inudctpiate , but It IB worse than Inadequate , for It proposes to overturn the principle of Individual responsibility by means of which the banking business has been raised to Its present high standards , and upon which all Individual and so cial progress Is based. The proposal contemplates that the public shall be relieved entirely from the exercise of Judgment and dis crimination In the choice of banks , and while It Is highly dtvslrahlo that all banks shall be made safe , to the end that even the most Ignorant and con fiding may be protected , It Is still true that an alert public opinion has great Influence In maintaining proper hank- Ing standards. We cannot afford to do without that Influence. Under pr s nt conditions the Invest ments , the personal habits , the general character and abilities of the banker arc under the constant scrutiny of the community , and a matter of public In terest. Notwithstanding occasional In stances In which the public has been deceived , It may be stated as a general proposition that an unblemished char acter and a reputation for good bust- ness ability and conservative judgment have boon necessary to success In the banking business. The public looks over the Individual who Is to receive , and Invest and be responsible for ltd laoney with some discrimination , and the elimination of the unlit by the scrutiny and composite judgment of the community Is a factor of the highest value In maintaining the standards of tbt banking business. It Is , however , * factor entirely overlooked by the ad vocates of this scheme. They cult. 'ate ' the Insignificant per- tntage of leas to total deposits under present conditions , and absumu thut no greater losses would occur after char acter i-enstu to be a factor In the busl- BOKB , uud all deposits were tlren blind ly to whoever would bid highest for them. 1o the objection that this elim ination f character u factor in the acquisition of deposits must tend to promote reckless bai'lMnff , reply | ado t'nt ' banker * will la d urred from t > iklessneM Lj ft i * t ' smg tfulr os u money. Tu < 1 r pl > nils * s the IttlRt. MI ' ' ' "M are m-t it li.rcd from MCklessiu a by tear of tadag tfcelr WB WOIHV i but reckltM BMM M * MVT. c an a rule. ii < ? pt out Of the bulking busi- in" f < b.\ UiHvllllUKiii'Hi of the public to nlr.ini nmiio.v In lliolr raro. On refill HntikliiK lli- . I'mlor present conditions there are conipoii tilloim In favor nf < a refill and onm.'rvallvo bunking. There are pro ill wh are not Inlliioiurd In Ibelr ne- eel Ion of a hank by the highest ratn of Inlrresl offered on deposits , and who have tliolr suspicions aroused by tint lender of exceptional Inducomeiitn. Vhoy know thai mirli ollVi-H put a Mnilii upon the business , and they rt - Illioraloly prefer to place Ilitilr money with a banker who will not subject himself to such strain. Those deposit- i/rs o.stoom tf.ifoty ab6vo all other con- li-niliiniH. and they arc numeroiiH enough lo t'fi'rrlM * a vorj whiiloxoiiin restraInt upon rooklfss tendencies In ( ho business. A hanker now prl/es the icpntallon of < lng a safe htislnosH. urn ! cannot all'ord to have a reputation for Imprudence and speculative In- rllnatloiiH. And yet , although hold In i hod ; by those powerful considerations , tln > prcsmit'o of competition carries the business near the danger line even now There IN lee much competition for deposits , and the ambitions of the more venturesome members of the fr.i- lornlly , and the pace they not , puts the whole system under strain. lint what are likely lo bo the con ditions In the business when the public IH no longer concerned about the man- iigcniont of a bank , and all the re wards for conservatism and restrains upon recklessness are removed V The considerations which In the punt hav tended to safeguard the busings and advance Its Htandardn would bo gone The public would care nothing for the personality of the banker. Instead of looking to the Institution which receiv ed the deposits , the depositor would rely - ly on an outside fund. A > ankor might bet all the deposits on horne races without the fact becoming a matter of any concern to his custom ers. And how would the consttrvatlv ; , prudent banker fare under these con ditions ? The legitimate reward for maintaining that character would be lost to him. lie would gut no deposits inloss he bid as high for them as his Ivals , for the government would stand iclilnil the latter , and unsure the pub ic that they were Just au saf as ho. mil tax him to make them so. In short the reckless and Incompetent pao ilo , who are now either excluded from ho banking business , or held In check i.Iho . distrust which a discriminating ii'hllc fools towards them , would make the pare to which everybody else In the banking business would bo obliged to conform or get out of the business. \Volll < l lluliiurlllls.n Ilunliiumi. The hardest competitor In any line of bii.sinoHS Is the Incompetent or dis honest man who does anything to gut business. .Such people get Into the banking business even now , but their number and Influence for mlschUf would be greatly Increased If they wore backed up by unlimited credit. In other linen there may be uoniu question as to the quality or service offered by rivals , but all bankers deal In the same kind of monop , and If deposits were made u Joint liability , ( hero Is no rea son why they should not .go to the bankers who offer the greatest Induce ments to attract them. The careful banker would have no off-set or protec tion against demoralizing competition , and he would bu placed lu the strung ! . * position of being liable for his com petitor's obligations. All efforts to make It appear that the Interests of bunkers are on one side of this question and the Interests of de positors on the other are untruu to thu facts. Nothing that In the long run IB harmful to the banking business , that puts It under strain and tends to low er Its standards , can be boneticlal to depositors or the public. It cannot be advantageous to the community to have Its savings and working capital puss Into the bunds of the venturesome class of bankers who will bid most for them. The actual waste and loss through unwise Investments would In evitably Increase. It would fall at tlrat on the conservative bankers and penal- l/.e them. Instead of an diminution of the unfit , which Is the true process of evolution , the tendency would be to an elimination of the best. Eventually thu burden of increasing waste would have to bo borne by all depositors and the whole community. Uklitlioiini Trial liicoiiclualve. The fact that thu 11 rat bank failure In Oklahoma after the law went Into effect , was followed by Immediate re imbursement of the depositors , proves nothing us to the practicability of the system in the long run. The fact that the State banks of Oklahoma have gained deposits since the system went Into operation , \\hlle national banks within the State have lost , If true , proves nothing as to the merits of the system. The law Itself requires that all public deposits must be kept in banks that belong to the system , and this provision alone would cause a con- Kldorublc transfer of deposits and In fluence some banks to Join the system. The real test of the policy will come In its Influence upou the banking busi ness In the long run. Will it tend to necuro more careful and prudtnt la- vestment of the vast sums rrklch thu people of the country k op in banks , or will It tend to weaken the personal re sponsibility for these funds and dlrtrt thorn Into Incapable and wasteful ha mis It IH a superficial vttnv which IIM a i m upon the luia 4lat ruMiU.i i ii uu uud sites no con sideration to Its violation of funCu- mental principles awl Uio wklck must fell * * . Republican Record In Nebraska En titles Party to Public Confidence. Taxes arc raised fiom Iho pcoplo and are snout by ilu * public oillelnln flooto.l by Iho people , consequently the public tdllcla ! . " are thu business agents of the taxpayers pure and simple . The InturnUtt of the people are const'quontly bound up In the InlolllKcnco , honesty and efllcluncy of our public otllclalH. How have the republican olllclalu of Nohrasku dlH'jharKC'd Ilils buslnohx trust for tin * people of Nebraska ? One Illustra tion will go far to show. The state debt of Nebraska , created by fusion extr/ivagunco and inlsmiinaKumont largely , reached its high point in December , 1I05 ! , amounting to two and oiif-third million doll.u-s ut that dale , Republican legislation and tlio euiofiil.idmlnlstratlon of ropuli- lican st.Uu ollicoi'd minced tills dolit to $ I7OIU ! ) ) , on August 1st , 190S , without noticeable burden to the ta\ pajors. Tl'iat is the way the- repub lican parly disehuiKOK a busiuoHs trust confided to it by the peoplo. The leconl Is ouo lo bo proud of. What else has the republican party achieved for good government In Ne braska to ontlUe It to u continuance of public confidence ? The republican party Is In power In the Htato now. It is giving the. . Nebraska people clean , ptogri'sslvt ; and foicolul xtute government , the very best state government we ever hud. hud.Wo Wo have had progressive state legislation. The two cent per mile pasxeuger rate law , tin ; railroad commission law reducing freight rates and express niton , the anti-pass law , the primary election law , the pure food law and other progressive measures , all put forward UH the result of higher ideals evolved and orystall/o.l Into the sontl- nionl and the progressive spirit that dominates the lepubllcau party In this stale. | All those things have come through the republican part > of Nebraska and not through the Influence of Candidate Hrynii or his political associates In Nebraska , for noltnor ho nor they have helpud loork out lho.se bet tered conditions. 'When thvso. pi ; p- llcul tlilnivH woio being don < ; Caiull- | date Hi1) an was always Honiewhero ' else talking up his candidacy at $500 u talk. The Nebraska people- , proud of the progtoHH of tliolr state , in buslnesn and government , owes nothing to Can didate Drynn for any conatnictlve as sistance rendered by him. The material conditions in the state are such us to hold the public mind in an optimistic mood and optimism It : an antidote to Uryunlsm. Corn is high and it's a corn state. Wheat is high and it's a wheat state. Cattle are high and It's a cattle state. Hogs are high and It's a Tiog state. Land Is high , gotng higher every day and It's a land state , and it's a state of farmer voters. Governor Sheldon has made an en viable record with the Nebraska people plo by being a courageous , level headed , strong , manly man In the executive otllco. As the leader of the party in this campaign ho at tracts universal respect for his high character and universal confidence for his broad minded fairness as an executive. Taking all these things into consideration one can see noth ing in the outlook for the coming election but the usual republican ma jority In Nebraska. The Nebraska voter this year will have 'an opportunity to choose be tween promise and performance. If promises alone will satisfy him ho can vote the democratic ticket with reasonable assurance that he will get promises and nothing else. If no wants performance , If he wants things done , ho will have to vote for the , lepubllcan candidates as that party In the only "do it now" party in this state. This is the proof : In 1897 the democratic party with fusion , con trolled every department of Nebraska government and power. They had the governor and state ofllcors , the legis lature and the supreme court. The part > kept no promise made prior to the election and gave the people no relief from railway domination , trans portation abuses , extortionate freight , passenger or express rates. They grabbed free-passes from the railroads with both hands and left the people to puddle their own canoe. Now note the difference. In 1906 th re publican party promised Nabraak * a long list of reforms and put the prom- la& > lu the platform. A republican legislature enacted every promla late lu every law was uppioved by Oor- uruor Sheldon , republican gUto Oflrs have Intelligently admlnUUrad every law enacted and not a pl 4fe IB left unredeemed. Th&i'a UM M- publican way. M You want one that is WHEN YOU BUY AN simple and easy of operation , that runs light and noiselessly , that climbs the hills with ease and that has the best speed qtialites. Thats the you are n come in mid 1 will demonstrate to your satisfaction that , although the products of the farm are bringing high prices the Buiclc Gar is worth to you every dollar we ask for it ; i The Boick Bow , M\ \ , BOUTELI , OH BRYAN. Is His "Shall the People Kulof" Simply "n Local Issue ? " Congressman Henry .Sherman Uou- tell of Chicago , commenting on .Mr. ISt-yan's bpooch in Iowa , says : .Mr. Ilryan's question , "Shall the people plo ruleV" Implies that .somewhere lu this country the people do not rule. The only Stales whore the people do not rule are the States that are ex- jioetod to give overwhelming majorities for the Democratic ticket. Perhaps .Mr. Ilryan thinks ( hat his question Is purely "a local Issue. " If he Is sin cere , l challenge him to make a speech in VIcksbiirg. .Miss. , on "Government by the People. " Lot him repeat one of his famous antl-lniDcriuIlst snecchca. simply changing three words , substltut- , lug "Mississippi" for "Philippines" and , "black brothers" for "brown brothers. " j Lot him suggest that we have as chair man of his meeting John Sharp Wil liams , loader of the Democrats In Cou- gro.s.s , and as vice-chairmen the other momlior.s of ( bo Congressional delega tion from Mississippi. And after lie has made his speech in Vlcksburg. if lie shall have escaped the rule of the people In that com munity , 1 dare Mr. Hryan to repeat his oration on popular government lu Charleston , S. 0. , with Senator Till- mini as chairman of his meeting. Mr. Ilryan's sentiments have a purely geographical graphical sincerity. I'lis epigrams and | stunting conuildrums are esiM'clally de signed to meet local demands. Of this nature are all his views on tariff and luxation. j Mr. Uryan'H proposition that every time a trust is formal a tariff sched ule should be repealed , and every time a trust N dissolved a new duty should bo added , Is too funny even for comic opera. If on .March next Mr. Ilryuu should become President , with u Domocrutlc Congress In both houses , and should actual ! ) place upon the statute books the linanclu ! uud economic vagaries de livered by him iu his speech of last Friday , It would plunge the nation Into bankruptcy and bring on Industrial chaos , if in- should begin by repealing ' the duty on sugar to punish the sugar trust , he would upset the national finances by losing ili,0M,0M ( ( ) ( ) a year In revenues , and would stir up a revo lution in Louisiana , Utah , Colorado ' ami Michigan. Then , If ho .should re peal the duty on cotton goods , because Mtnio hustling manufacturers of Now Kngland or the Carollnas wore dump ing goods In China In rivalry with ling- land and Germany , ho would divert other millions from the treasury and Invite still further industrial ruin. Hut , of course , Mr. Hryau would do none of thcho things , any more than he will Invade the solid South and sum mon the cohorts of Democracy to the defence of the Constitution with the battle cry "Shall the People Hide ? " Mr. Hryan simply does not mean what ho says. What he utters \\lth Chad- bandlau unction in the North ho rcmnll- ates with PooUsnllllan duplicity In the South. IlllxlllI'VN > I 'U llollt'Kl. The biiblncj-s men of our community as a whole are honest and their moth oils are sound. The President bus never said otherwise. Indeed , it is chiefv ] In the Interest of the great body of honest business men thut he has made his tight for lawful business methods Hon. Win. II. Tuft , to Mer- oliants and Manufacturers' Association , Boston , Mtibs. UrnlltmlM tit Mt > Kln1er. The highest claim of William Me- Klnloy for the gratitude of his conn- trillion is that. In spite of the abuse and contumely that was heaped upon his head for tills policy , he placed our country in the forefront of nations as a clvllizer nnd upllfter of unfortunate peoples. - lion. Wui. II. Taf t , at Cleve land , Ohio. 1 believe our strong party with Its great principles (3 ( only in its infancy. Our glory as a nation has but just b - tun There are talghty problems yet i to be solved , grave questions to be ans wered , complex Issues to be wrought ut , but 1 believe wo can trust the Grand Old Party and Its leaders to j care for the entire future of our Na tion and of our peoplu BB It bus cared them so well lu the past. IIou. June * . Sherman. Artistic Tailors. " you ever stop to think that no two f men are alike in form , and that in order ) : to get a perfect fitting suit of clothes you should go to a good tailor where a good fit is guaranteed. When your measure is sent out of town your suit is factory made , no better than a ready made suit to you , and you take it fit or no fit. But when Aye make your suit it has to fit and suit you in every respect. i- , Fall Suits and Overcoats ! "IT We have a large stock of goods for you to pick from. Then , to , did you know that if a suit is made right , made to fit your B form it will Inst three times as long as a i ! hand-me-down suit or overcoat. We make no other kind. Gome and see us. m Lll Up-To-Date Tailors Kealty Block Broken Bow U ANOTHER CAR LOAD -Of The- \ Celebrated Lexington Flour THE BEST MADE Full Line of Husking Gloves > md "J Mittens. We are Headquarters for all Kinds of Dishes , f Tinware and ( j ranir-waro. | ] . W. SCOTT , Hydraulic Tire Setter At Dorri $ ' Blacksmith Shop. It 13 tue best machine made for settingtires. . Come in and see it work , and be convienced. S. M.DORRI8 , Blacksmith. Southeast of the square. , wtC . .W-3 //fi'S'Stt 3 . . . . * . . ' ! . ' " ' . . : * ' mt.tfk * W f > ISitri. $ R te. < SM.SIT / { TUy. * < X'f rV7KVifc.Si&l * : iw .y ' - ' ' w 1wtC ' " 11 J * ty That we cany one of finest and largest the Assortment 1 ' Lumber , Coal , Posts , Etc. , in Broken Bow. 6'f L. TURNEE LUMBER CO.A" A" i 1