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About Valentine Democrat. (Valentine, Neb.) 1900-1930 | View Entire Issue (March 26, 1908)
E I. M. RICE Editor and Proprietor. MARK ZAKTI Foreman. Entered at the postoflice at Valentine , Cherry county , Nebr. . as Second UJa ? & Matter. TERMS : Cherry Co. Subscriptions : { | [ ; K , - , . 0 . . , . \ Si 50 ppr'voar in advance ; paper dis- Foreign Subscriptions -J atexliralion if not renewed. A j * . r > - . J i 15 < ; P 'i' i'lth ' padi is ue ; by contract , 12c. . Advertising Rates TnillsiL nt adl , 20c I1r incll. Iocals 10ca line. Foreign rates for stereotyped advertising , 13 months or longer 10 cents per inch , net. Local notices , obituaries , lodge resolutions and socials for revenue 5 cents * per line each insertion. ' THURSDAY , MAliCU 2i > , 1008. Needed Last week's Kepublican con tained the correspondence between the village board ajid S. F. Oil man , relating to their contract , for village pumping and lights , aUa letters to Congressman Kinkaul regarding the transfer of 24:1) : ) acres of land from the Fort Kin- brara military reservation to the village of Valentine. The facts disclosed by these letters indicate that the present village board has been looking well to the interests of our city and that it is their in tention to provide a water system , owned and operated by our city , with reservoir on the hill north ul town , and to dam the .Mmni-clm- duza below Mr. Oilman's dam for our water power. Jt is proposed to build a dam that will provide a much larger pond than .Mr. Gil- man's and pump our water all we can use and run our electric lights night and day , too , so that people can have a li ht in a dirk room or cellar at any time. Power can also be furnished in this way to run saws , grindstones , pump water from a well , and all oth * r mechanical work. W. S. Marker , A. N. Compton and \Y. Jackbon are men of ability , and , as members of the village board the past year , have been doing something for the per manent good of our city. They have plans laid for carrying on this work and their efforts should be encouraged by a vote of con fidence. Of course , there is some trouble over an old hog ordinance that sent some people into the air , and Oeo. Elliott and Grant Dunn wanted sidewalks built in the we t part of town , which were needed and have been built. We need more of them in other parts of our town. City * improvements I'ur- nibh work for the unemployed and the money expended goes mostly to our home people. The old water tank is fast go ing to decay and we need a bigirer and higher one. At present the pressure is not great enough for fire protection in the higher parts of town and the court house is higher than the tank. Gentlemen , this is not a time for parleying over small matters. . They will be properly adjusted l > . \ the present town board in course of time as satisfactorily as anyone can do , without partiality or fav oritism. j\Ve need these public improvements and we need good , competent and capable men to handle them men of experience in doing and providing ; men of business ability who have succeed ed in business for themselves , and we need the revenue to do business with. The greatest movement of the time a movement that is going to preevnt this government from be coming an aristocracy of wottlrh is now on It i not a narrow , selfish movement ; it is not social istic ; it is antagonistic to the merited rewards of superior gen ius or business ability. Bur , it is opposed to Special Privileges : it is against unjust discrimination ; it is for the , squ-ire' deal. And this fight is goinir to be fou rht until the people win. The success of the people in thi engagement is essential to the success of democ racy in the United States. Lin- coin Star ( rep ) . Church IV f . . Sunday's subjects : 11:00 a. in , * 4'rli lie ward of thi RechabiU'K " 7 : # > p. m. . "Shall We K > cp Saturday or Sunday ? ' ' ' . .50 | > . m. Lca ler of Christian j Kn.--u\-nr ] v.ill hi- Henry Ninas. Topic : kTroM'i . the Wiilip- pines. " ' AfenilMM- * i.lio conjure-J Cation are hereby n .i".did of thcj fljirbigb missionary /liocdon. r . < 5rjory Coxsafry Wet. From the Bonesteel Herald in ; the Norfolk news \ve notice the following results : BOXKSTKKL ! There \UH only one ticket in the , field al lionesteel and the only coutentioi , was a > to whether or j not the town should be wet or dry. i The wets won by a vote of 94 to 14 ! BUHKE Of all other towns in the county | Burke showed the large-t per cent jof prohibition sentiment. The vote was : wet , 41 , dry 24. DALLAS At Dallas there were two tickets I in the field and a bitter ii hr , was wayed for the supremacy. There were 12. votes cast. The liquor vote stood : wet JO , dry 16. GllEGOUY ' A most strenuous effort was made at Gregory to overthrow the present government and in a meas ure it wa < suci cs ful. .There we e two tickets in the field and the fio'it willed rather warm with a result that a part of each was elect- el by very close margins. 219 votes wore cast. The wets were 1(56 , dry 42. JIKIMIICK The fight at Ilerrick was similar to that at Gregory , insofar as there were two tickets in the Held and a part of each were .successful. The wets mustered 82 votes , drys 41. FAIRFAX The town went wet by a vote of 73 to 25. During the ope week of March ' 23 to 2S , inclusive , the Lincoln Daily News \\iill accept § 2 from mail subscribers for a whole year to April 1 , 1909. the regular price being 83. Tnis cut in price is made possif ble by taking traveling solicitors from the road and doing business with the readers direct , giving them the savings in salaries , rail road fares , hotel bills , etc. The News is a regular $3 paper , but by this method you can save § i. This will be a great year in Ne braska and you will want a daily paper. One that's not afraid to say right out what it thinks. l\o office holders or office seekers aie interested in this paper. It's run on the square deal plan , under no obligation to political bosses. Aren't you interested in the fight that is being made in Nebraska for everybody's goodIf you are , send in your § 2 and get this live paper all through the cam paign and through the next legis lature. Keep tab on whats' being done. The people will never get what's their rightful due until they go after it. The News will always be found helping you lo get what's fair. Remember the bargain week March 23 to 28. The price will be $3 a-fler that week and its a gof-d bargain at even that higher price. House and small barn , with two lots , close in , near school building , for sale at a bargain. House is new , lawn and shade trees , good -idewalk , all fenced. Part cash , balance easy payments. Call on l.\M. llice , agent. This is just the { .lace for some ranch owner or fanner to select for his wife and children to live luring the winter and send chil- Iren to school. Don't delay as Jiis property will find an owner ? oon. It may be yours. Come ind see about this first time you ire in town. v IS Get your property insured by J. VI. l ice and you will be safe. His pay lossespromptly. COMMONER COMMENTS MR. BRYAN'S OPEN LET TER TO MR. FORGAN. SELFISHNESS OF LATTER'S ARGU MENTS POINTED OUT. Interests of Bank Stockholders Placec Above Interests of Depositors How Government Guarantee Law Would Work. James B. Forgan , president of the First National bank of Chicago , gave to the newspapers an open letter ad dressed to Air. Bryan in which lettei Mr. Forgan argued against the pro posed guarantee of hank deposits anil insisted that Mr. Bryan , in a formei ciiticism of Mr. Forgan's position , hat misquoted him. Mr. Bryan understood Mr. Forgan to say that he was op posed to the guarantee of deposits he cause it "would make all banks safe , ' whereas what Mr. Forgan really sail was that it would "make all hanks equally good. " In an open letter ad dressed to Mr. Forgan Mr. Bryan ac cepts the correction , adding that he thinks the distinction drawn is vcrj fine. fine.Mr. Mr. Bryan resumes : "You object to the government's guarantee because it puts all banks on an equality and makes all banks equally good , and you object to it foi two reasons : First , because it woulc deprive banks like your own of the advantage which they have won bj 'conservatism and good management. You intimate that it is not selfis'li foi you to defend yourself and your banL against a policy that would 'despoil you or it 'of vested rights and prop crty , ' and are willing to admit youi selfishness if that can be considered selfish. "Let me make the charge so directly that there can be no question aboul what I mean. I charge that you put the interests of your stockholders above the interests of your depositors and that you put the interests of the big bank above the interests of the various communities and of the pub lie at large. "Let me remind you that that which you regard as 'good will' is largely an advantage created by law. The good Avill which you measure in dollars and cents is not entirely due to good man agement. It is due , in the first place , to the fact that you are a national hank , and you are a national bank because the representatives of the people ple enacted a law that permitted you to organize as a national bank. It is due in part to the fact that national banks are inspected and regulated b'y ' law , and these laws are made by the representatives of the people. It Is due in part to the fact that many people believe that deposits in nation al banks are in some way guaranteed by the government as the bank note is. "When the laws were made , the law makers thought they had provided for the security of the depositors , and it is not only unfair in you to count as entirely personal to yourself or your directors , the confidence shown by the public in your bank , but it is selfish to insist that the people have no right to obtain fuither security , even if , as o result of that , your bank loses some of the advantages which it now has over smaller banks. The bank exists for the benefit of the people. It is a mistake to assume that the people ex ist for the benefit of the bank. "The law requires that a certain percentage of the deposits shall be kept as a reserve why ? For the ben efit of depositors. The lav/ provides that no rhore than ten per cent , of the capital and surplus shall be loaned to one person why ? For the protec tion of depositors. Everj * law passed for the.protection of depositors tends to equalize the banks , and you can make just as sound an argument in favor of the repeal of all restrictions as you can make against the guaran tee of deposits. The fundamental difficulty is that you look at the ques tion from the standpoint of the bank er and not from the standpoint of the depositor , and you insist that the depositor shall be left unsecured in order that your bank may have an ad vantage over smaller banks. "What security do you give your de positors that other banks do not give their depositors ? Is it that the officers of your bank arc better men9 They may die , and inferior men take their places. Is it because your directors are better thsn other directors ? The board of directors may change. Is it because your stockholders arc better than others ? Your stock is sold < n the market and a change may take place any day in the ownership of the stock , that will entirely change the character of the bank ; and if such change takes place , who will know It ? "In the recent stringency , the banks all over the country 'felt themselves justified in suspending payment upon checks , and for the first time in our history the depositor was told how much of his own money he would be allowed to draw out for the carrying m of his business. Why was this extraordinary step necessary ? Because Jie banks throughout the country had leposited a part of their reserve in Kew York and other reserve cities , nul could not withdraw thorn. Each bank feared a run if it permitted the withdrawal of deposits , and. why .vould * depositors want to withdraw ? Because they were afraid of losing .heir deposits if they did not. ytrur first tore by saying , that you J\- > ' .he personal element in thepx. . v. , that you enjoy and underestimate the ? advantage that you derive from the ' .aw ; and , second , that our laws shouU be made for the benefit of all the people ple and not for the benefit of a few 3of the people. While I can admire the interest which you feel in the wid ows and orphans who are stockhold ers , I must remind you that the wid ows and orphans who deposit money 'in banks are also entitled to consid oration. It is supremely selfish in you to forget the interests of the largef number of depositors who make bank- 'ing profitable. Banking would not be very advantageous if you only loaned the money of the stockholders. The real profit of banking conies from the loan of depositors' money and it is a little heartless in you to look at the question entirely from the stand point of those who get the benefit of the deposits. "Your second argument is , that the guarantee of deposits would lead to reckless banking- and that the busi ness communities would protest against the guarantee system on the ground that it would make all banks insecure and drive the better class of people out o the hanking business. "That , of course , is a prophecy , and a prophecy is more difficult to answer than an argument based upon history. Insofar as experience teaches any thing , it teaches just the contrary. A guarantee law has been passed in Oklahoma , and the result is that the bankers of southern Kansas have joined with the depositors in asking for a special session of the legislature in Kansas to consider a guarantee sys tem , and they have done so because they fear that deposits will be with drawn from Kansas and carried into Oklahoma. Instead of driving men out of the banking business , the Okla homa law has led a number of na tional bankers to take steps toward changing their banks into state banks in order to take advantage of the state law , in case national banks are not allowed to enter the system. "When I tried to secure the passage of a bill in Nebraska , providing a guarantee fund for state banks , it was opposed by the national banks on the ground that people would remove ( heir deposits from the national banks to the state banks , if the state hanks were made absolutely secure ; and it is to avoid injustice to either class of banks , that I have urged that na tional banks should b permitted to take advantage of guarantee systems established in the states and that state banks should be permitted to take advantage of any guarantee sys tem established by congress. "The guarantee of deposits will not produce recklessness in management. Ypu are selected by the stockholders , not by the depositors. You will en deavor to manage your bank in the interest of the stockholders , and your argument shows that you consider their interests paramount. Under a guaranteed system of banks , you would still be responsible to your stockhold ers. They would lose all that they have and be subjected to the 100 per cent , liability in addition , before other banks could lose anything on account of your bank's failure. Would this not be sufficient to make you careful ? "Do you think we could improve the character of our bankers by repealing all laws providing for regulation and inspection ? L" not , why do you think it would lower the character of bank officials to increase the security of de positors ? "The fact is. that the country is suf fering to-day from lack of confidence in banks more than from any other cause. The money can not be drawn from" hiding and hoarding unless the depositors are assured of the safety of the banks. The amount of the tax on each bank would be little compared \vith the benefit which it would re ceive from its shore of the increased deposits , and as for making hanks un safe , the guarantee system will insure safer banking. "Nearly every bank failure is due to the appropriation of the money by the directors or officers. "Why have we not been able to secure better regulation of banks ? The answer is simple. The bad banks don't want any regulation and the good banks prefer to make a business advantage out of the recklessness of other banks. When banks become mu tually responsible for each other'- ? depositors , it will be easier to secure the proper regulation of the banks. "It all depends upon the point of view. If legislation is to have for its object the welfare of the whole people ple , then the guaranteed bank ought to come and come to stay. If , how ever , the legislation is to have for its object the securing of privileges tea a few of the community at the ex pense of the rest of the community , your argument is sound. "I believp that it would be perfectly safe for the federal government to guarantee deposits in the national banks , collecting from all the banks j in proportion to deposits the amount - ' that it would have to pay out to the depositors of banks that fail , and I be lieve that it would be safe for states ( o adopt a similar system to guarantee - , tee the depositor in state banks. In , that cnse , the government would have back of it the assets of all the banks. But if objection is made to an absolute - J lute guaranty by the government , the ( same end can be reached by the sys tem adopted in Oklahoma whereby the banking board collects a guarantee fund and is then empowered to make such further assessments as may be accessary to restore the fund in case . .noney is drawn from it to pay the deI I lositors of a failed b'anlu This puts ' ill of the banks behind each bank , .vithout . involving the government in laumaen Bachelor MEAT MARKET to Fresh Salt and Cured Meats , Fish , Oysters , Vegetables , Pickles , Lard. We buy poultry , butter and eggs and all kinds of live stock. , Call or Phone 88. BAUMANN & BACHELOR , Valentine = Nebraska Y p u ff v a anLjm3ri Lump i i U U per ton 7 on Nut I i < Uperton At last a Wyoming- coal has been f..aud which in all respects , for domestic u e , equals Kock .Springs district coal and excels it in some. Rock Springs has for years been unbeatable , but hundred * cf custom ers in the western part of the state now put ElUDSO ahead of it en account of purity , cleanliness and lasting qualities. For cooking \ and heating stoves HUDSON cannot be excelled. C r F Dealer in Hardware , Furniture and Coal. HI _ | The only genuine and absolutely reliable .substitute for tea and coSee is K vC4 ra j H 'ISfe > 5 MM a the new food beverage gives life , health , vigor , joy , comfort and beauty , and is highly recommended 1 for nerve endurance , and building up the constitu ' ? tion. It is a pleasant beverage and contains great nutritive and invigorating qualities. Has the re y freshing properties of fine tea , the nourishment of the best cocoas , a tonic and recuperative force pos w < * sessed by neither , and can be used in all cases wv ] where tea and coffee are prohibited. y. > / ; v ] ! Eggo's Fruit Salt is a great health reviver. V. yA laxative and- thirst quencher. Effervescent and $ ' so delicious to drink that a child likes it. Has all * the properties of a Sedlitz Powder and more , and is recommended in all cases of indigestion , constipation - pation and headache. Eemoves impurities from the blood and can be used freely without causing injury Manufactured by I , IF a * > k i OMAHA , U. S. A. ii i The above preparations may be had from all Grocery and Drug Stores. &arav j jntine's Pore Lipor Center iiblic opinion is unerring , puUic confidence sel dom misplaced : The true worth of every business concern to the community in which it operates is fixed by its clientele the , value-giving power of ev ery commercial institution may be determined by the amount of patronage it receives. The people have unmistakably proclaimed their confidence in and its methods , by bestowing upon it a far greater patronage than that accorded any other place in Valentine , Where the major portion of the fair , the impartial , discriminating public buys its Liquor and Beer , must be a good place for You , the in dividual , to trade. Visit The Stock Exchange when. you need anything in our line. W. F. A. MELTENDORFF I
