The Wahpeton times. [volume], October 24, 1912, Image 6

About The Wahpeton times. [volume] (Wahpeton, Richland County, Dakota [N.D.]) 1879-1919

Image provided by: State Historical Society of North Dakota

                
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HOW L. B. HANNA COULD MIX
CIIQ BUSINESS" AND POLITICS
.TO HIS FINANCIAL
ADVANTAQK
I GREAT OPPORTUNITY
A Banker-Governor Could Malta $2S/
000 to 100,000 for Hlmaalf and
Aoaoolataa on Bank
ffPH
Depoelte.
ana
CoBgraaiman L. B. Hanna
ta 1
atatemant Is true. The only de-
aald
Site
baa re-
"polltloi ta bualneaa.'
7
batable feature of it la the queation:
"Whoae Bualneaa?"
It la the debate on that queation
that baa arouaed the American peo
ple today aa they have never been
•rouasd before. Big lntereata, ayndi
aated wealth, privilege-seeking corpor
ations have been making politics their
Sg
ialneae. That's how they became
and powerful. The people, the
farmers, the mechanics, the amall
bualnesa man, are now saying
propose making politics their
ir. Hanna, aa a banker-governor,
dVld sacrifice hla basinesa in
divorce polltlca and bnainesa
Sleeted governor. Then are cer
bualneaa opportunltlea for
•r-governor In North Dakota that
the governorship at a high pre
with polltlca and business in
•Sparable. It la not saying Mr. Hanna
would avail himself of the opportuni
ty to make $21,000 to $50,000 or more
year, make it legally without the
Invaatment of one cent other than the
fnveatment of a few thouaand dollars
for campaign expenses. It ia a good
Investment, this investment In poll
ties, that makes it possible to collect
Interest in the thousand percentage
column.
Here ia a business problem In atate
politics that every tax payer and
thoae who have not enough worldly
goods to pay taxes on, ahould care
fully consider, analyse, and arrive at
their own concluaion.
Section 232, of the revised coda of
Korth Dakota reada:
"All funds 0^ the state shall be de
poalted by the treasurer in one or
more designated atate or national
banka In the atate ot North Dakota
on or before the tint day of each
month In tfee name of the state. 8ucb
bank or banks shall be designated by
the board of auditora in conjunction
with the governor."
What "bank or banka" do you sup
pose a banker-governor would desig
nate aa a depositary or depositaries?
His own and those in which he is di
rectly or indirectly interested, or the
little banks throughout the state In
Which he is not interested?
The state has on deposit approxi
mately 12,000,000 a year. The banks
are required to pay the state from 2
to S per cent Interest The legal rate
®f in ereat that may be charged on,
loana is 12 per cent. Twelve per cent
ilnterest on $2,000,000 is $240,000 a
year. This $240,000 Interest is paid
,to the depositary and the depositary
then makes a division with the state,
gives the state $60,000 if it pays the
atate 3 per cent, and keeps $180,000
for the special privilege of loaning the
people's money paid in taxes back to
them at an exorbitant rate of inter
est. Take a pencil and paper and fig
ure It out yourself.
Do you think a banker-governor
jrlth the legal opportunity to make
•180,000 a year for himaelf and his
Banking associates, without a penny
Investment other than campaign ex
penses, would throw that opportunity
•side?
1
The law provides that banks shall
give bond and pay the designated in
terest on the amounta apportioned to
them. Reports of dally balances
•how that deposits in certain of Han-,
Has pet banks have exceeded the aft
Aortlonment covered by their bond.
(Bw sum Is neither protected by bond
fior do the banks pay Interest there
•on so the banks under such circum
stances would take all of the 12 per
.cent they collect on loaning out atate
tends.
The law provides that no deposit
•hall exceed one half of the capital
ftaA surplus of the depositary. One
•I the banka mentioned haa a capital
Mrt surplus of $400,000. It could
Igbrofore be legally entitled to $200
j00O a year of atate funds, and reck
oned on the legal rate of interest
'barfed for loans, make a profit of
ifll.OOO a year. With one auch bank
Mona a banker-governor could In*
5**55S A'"
,ncone
from $1,000 a year
$$$.000, through polltlca and buai
£••8. And If he waa Interested in a
Mrlng of banka he could further ln
•mso hla Income In like proportion:
I 8^* funds are now wisely dlatrlb
iflftad throughout tha atate among ap
proximately 800 amall banks.
I think bankerfcovernor
BTomd be Inclined to contract this
prldo circulation Into hla own
W* money where be could
flMke noUilng out ot lit Would it ha
1-bJwkM* Judgment? I
n,tau
HOT arc few epigrams pMfeti
random from CoL Bqwl
Fargo, Oct 10
The chief Mult of Mr. Taft Is that
he la conatltutlonally distrustful «f
the people
The chief fault of Mr. Roosevelt Is
that ha Is constitutionally over-trust
tul ot himself.
I will apeak of Mr. Taft first as tha
president who is of Mr. Rooaevelt
next, as the president who has been,
and of Mr. Wilson, thirds as tha pros*
ident who will be.
I have made It my buatnaas to know
what is going on In tha United Statea,
We have applied the pure food law
to our newapaper diet, and If a trust
ibuya a newspaper, It will have to put
the polaon label on the outside of tha
can, so that the lubserlbara to tjn
ipaper may know what they are'read
ing.
I It is a very nnnmal thing that ai
man ahould go into oBloe by a ma
jority of over a million, and go out
of it by unanlmoua conaent
1
they
bual-
Mr. Hanna la a big bualnesa man, a
big banker, directly or indirectly In
fereated in a chain of banka croaa
aectloning the atate. The nucleua ot
Iy
lls wealth has been rapidly and vaat
multiplied during the laat seven
lean yeara and during these aeventeen
feara be baa been actively engaged
Jnpolitlca. Bo polltlca and bualneaa
ttut have bean highly profitable to
Mr.' Hanna, for ha baa oatenalbly glv
in mora time to polltlca than to bual-
It ia reaaonable to prarama that
Srests,not
While Mr. Taft thinks that tha
masses of the people have not sense
enough to run their own government,
Mr. Roosevelt does not know ot any
other human being who has sense
^enough to be president. I
Because his Judgment failed hloj
when he picked out Mr. Taft, ha
iseems to have renewed confidence in
his own Judgment when he ploked out
himself.
I On the Initiative and referendum,
Roosevelt is right now, but four yeafl
'ago he sent Mr. Taft all the way to
Oklahoma to oppose the initiative and
teferendum.
I There la not an offloe to which
Roosevelt baa ever been elected that
,he haa not been elected to with tha
aid of Wall street and the predatory
Interests, never an oftiaa to which hi
haa been elevated that the bosses
hare not helped him.
Mr. Roosevelt'a position la now
well known, and aay to yon with da
liberation, and yet with, emphaals,
that no man in tha history of thls aa
titfn haa ever taken a position on the
trust question ao boatlle to the aatei
ty and welfare ot tha American pao
pie.
I, remind yon that tor aevan year*
and a half he waa president and ha
not only did not control the .trusts,
but they controlled him.
A 8YNOPSI8 OP THE DEMOCRATIC
STATE PLATFORM.
1. Endorses the National Democrai
tic platform.
2. Endorses the nomination ot Wll
son and Marshall
3. Calls attention to the growth o|
the enduring prlnclplea advocated by
William J. Bryan.
4. Endorses the candidacy ot Hon.
F. O. Hellatrom tor governor and tha
other nominees tor tha respective
atate offices.
5. Calla attention to protection
given the farmare through tha effi
cient management of the penitentiary
twine plant by oar candidate for govt
ernor.
0. Favors all leglalatton that will
tend to advance the cauae of agricul
ture.
7. Favors the adoption ot manual,
Industrial and agricultural training la
our public schoola and holda that tha
atate achool fund muat forever remalq
aacred to the building up of education,
morala and good oitlaenshlp.
8. Advoeatea leglalatton that win
protect the pbyalcal and menial
health ot our people.
9. Approvea ot the strict enforeei
ment of every law and pledgee Us
candidatea to uphold thle principle.
10. Favora direct leglalatton through
the initiative, referendum and recall.
11. Advocates lawa that will aid In
the establishment and maintenance'of
state and county roada.
12. Favors the Improvement of tha
atate'a navigable rivera.
18. Urgea the votera to support tha
democratic candidatea for congress
that thla atate may benefit from tha
action of the democratic majority.
14. Calla attention to the able and
honorable administration of Governor
John Burke, and polnta to bis record
aa an example ot democratic afficle»
cy, which has placed our atate in thq
front rank of progreaalve states In tha
Union.
IB. Appeala to all partlee and faei
tlons wht believe In government o{
the people to support the democratic
candidates in the election.
SHOUT HURRAH FOR WOODROVt
WILSON.
(Tuna: "Hold tbe Start")
Right will triumph in our country,
Truth la marching on
Man la dearer than the dollar-t
Plutocrat ha gone!
Chorus—
"pontics is
poslMMi" he haa been profitably an
m*4 la both for aeventeen r^n, and
flronld probably not change his mind
jft
Elected governor.
Do you think he W6uld allow bust*
fMM to eater polltlca under auch fa*
forable opportunltlea?
AfS
THI8 THE REASON HE WANTS
tO BE GOVERNOR?
''-v»*'
1
Shout hurrah tor Woodrow Wilson!
Marahall in the van—
We'll sleet them thla Novembers'
Yes, ws know we can. ji?
Bread la soaring aa an eagle,
Hungry mouths unfilled— 1,
Tharell be plenty tor our people, i1
When oppression's UUsi.
Come and Join our mighty army.
And oir Aiitott gi*A
Fk« the sraad of aelfah Interests-*
Wave, Old Glory, wave!
Tha people are not interested
so much In what the big eorpotmt
oontrlMted to th» Roossywt apd
campaign funda as is whftt the
itlons cot est their
lMd yon Over notice
cratlc candidates are
lected from tha plain
fha republican candldafia
from the aristocracy?
Wllaon la staadin* on his record}
Taft la alttlng on bit, and RooMfelt
n""?!*- jt?
-»J
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