Image provided by: Morrow County Museum; Heppner, OR
About The Ione independent. (Ione, Or.) 1916-19?? | View Entire Issue (March 27, 1931)
IONE INDEPENDENT lONlS, OMGON Friday, Manh 27, 1931. i I f i 5 'V ft The Day and the Work To ouch man in Riven n day nnd bin work for the day; And once rnd no more iH he uivon to travel this way. And woe if he flicsfrom tlic tank, wha.evcr the odds; Fuf the task is appointed to him on the HcrollofthcKodH. There in waiting a work where only hi.s hands can avail; An ho, if he falters, a chr-rd in the music wi'l fail. He may lumdito thenky, Ik; may lie for an hour in thesun; Hut he dare tot go hence till .he lahor appointed is done. To each man is given um:.rhle to carve for the wall; A Mono that is needed to heighten the beauty of all; And only his houI has the magic to give it a grace.; And only hi hands have the cunning to put it in place. f 5 2 si DUAL BANK SYSTEM FAVORED BY BANKER State and National Institution Supplement Each Other in Serving Country' Varied Financial Need We are given"ouehour to parley and struggle with Fate, j Our wild hearts filled with the dream, ot r Irani with the high debate. It is gien to !o kon life oi.cj and ome oV to J'c; One testing and then at a sign we go otu .,i the sky. lu! u' in Miirkltjin. lit BUS COMPEffiTji! Danker Anociation President AiU If Unfair Aid b Given Motorized Transport for Hail Mergers. JIUV YOllK. 1'atr tP-M-wil fur tin motor co:npwt ttliMi wu tailed Inr by Homo C. Stci'l" iiHon, l'r'j-UiMit A:im Iran Hunker Association, l:i ier..t add re bore. Hi also s.rongly in ilorsi.tl "iouikI fcfiritmil': nil'-ay . !Mntl n" ntnl raln-d J'r'.i;ltiit How (T for hU InHlitlWu In tliii ri'sprrt. "I niu very struiKly of oplitiuii I luil (i no of tli 0 muuiuri'.i which wuuM help matfiially to ii.it lj.uk busluos tvlci' It ought to bo U the i;teta (uur ) .oiii ij 1 ft u of railroad tum.oli ll.l'il'll Ul BUUOUlited recent iy follow ing negotiations Instituted by l'u el lent Hoover." said Mr. Stephenson. "Its adoption by the Intrrsta'.o Com ii.erco Commission would tend to staid ll.o the traniipoitntlon Induulry, fit ci'ltale operation and exert a favorable lnluviaa on biuiliuni In general. "It U a fait Well known to businc 1'iadtr that our railroad aro now fne lug a crisis. Not only do thry need t'tutt-ctl vo laws to mert coin pet Iti.o lUtiatlona mining from lncr(V.ed ii'D (f our highways uml weU'rways by cilicr carrlt'in, but they ncnl ui.lnYi lieu iriit h an tho l .ropo.i d fnur-syateni plan provlds. O.ir IVnWlcnl hti iiit''d wl.Hi-ly In atfuiiiltiK a Ii-adorsli-p In thla r'.iii t ami liU imvo dems J tlio Hunnoit of nvcry rU ar tliiuLInc ! titiivn." Mr. KtcphPiiHoii dortartd that the r.illKiad have "i ved this rou;.try "no ui'Tla!lvely will that wo nro jnono lit otir imhMc affairs lo overlook our dv !'!. ilrmo upon thftn otjd our ibll.,.i tious tu thinn. Tim past, present pnl fist nro prosro: a of tim fn't-'d Stated l ln-oparatdy hound up with thrlr wet f.iic. In Ui'Kli'ctlliR Jil.'t orvildi raUc i fur thi'Wi wo are fven nioio nrrlnct.'iil of tin' piilillu's hci.t i-conomli! lntri'sti. V.) A Oncitum oi 1'uhlic Inicrett aro controntad w'lth tha quim- tluii a.t to how much muro tho public ccuuomlc ItitoroKt will aland an li.w aion of tho welfare of tao M.ilro.ui y forces and dllllcultlcs not of their ok.i crtutins and uut within tho acopo ot thulr own uualdud powora to cuiuiiat," uld Mr. Sti'phi'iiBou. "I refer especially to now conipotllluiia that arc undorinlu in tho liard oarnod portion of tho rail r.)!uU, not only with tho aid ot uiuurul eciiiioiule foreua but alao tiiunr li tho uidot govoruiiiuut pjllelea whteli, posU lively or negative 1. , tend to give t.ie.ioj lompotltors uinlmi -invantaKca ov.r tha lalironda. ' "It goes without i .lying that tho nil ioikIh have no rlulu, uor tliUni a.;j, ao far us I have been ablo lo UImcitii, to Louiplaln at legitimate competition lu the Hold ot traiiHportatlon, for tho pub lic Is oulUlud to tho bout posalblo tiaiin puliation at tho lowest practical coat, lint equally doea It go without nylii;; that thla cannot bo fairly brought about hy ualiig, or by f.tlMng to use', tha tax ing powers of government to enablo competltlvo niothodH of tramipartatlon to do things they could not othorwlno do as unaided private enlPrpriBCB, par ticularly whon Hticli action ttupnlrs tho Invented rlghta hold la good fulth by great niUHues of our pooplo In cutub liahod cnterpriaca that are uorvlng tho public well." Mr. Stephenson said It was not his pui'POHO to arguo againat aueh com !! Itlve tranHportutlon us tho highway passenger inotorbus and motor truck iuj mteli, whon comluetod under proper condition!) and In keeping with public woli'iu'o and benollt. Ho declared, how cvci', thoro Is need for aerlous conchl eratloii wholhor such competition li helitK developed tinder conditions that nro unfair to tho railroads, bocuimu either the outright or obscure aid ot government policy la t'ti deciding eco nomic factor la that cctrpatltlou. Would hvotijtat Hut Truflit Railroad rights ot way, be declared, rcpri'Huiit trntiiitndous capital Invent inuiits, on which tho railroads have alto hi-avy cirrent conts to meet. ' Thy pay ovory day a million dollars In taxet and most of this Is on tlu lr rights ot way," he said. "Abo thry Kpi-nd dally ovt-r two million doilara ad ditional for tho proper maintenance ot way," I lo asserted that tho motor Imihcs have not had to pay for tlifir i l;:l!tnof way la any ncnsu that tho rail loads paid for theirs. "They have Imply taken posnesdon of public highways built by publlo funds, both statu and national." bo con tinued, "and they have oxtonslvoly; la.'do tho( highways vsstly lens com fortahlo, less safo and less serviceable for private motorist and others who are contributing chiefly to their crea tion and maintenance." Mr. Stephenson declared that all thcie matters should bo thoroughly In quired Into by competent public bodies, bn'li state and national, with a view of determining the equities and basic public economic Interests In volved, "particularly In respect to the ir tffects upon tho nation's railroads. "I venture to say," he added, "that inch Inquiries would show whether It In to the public interest to M thing remain as they are, whether the situa tion calls for a new bisli of motorbj s".d truck taes to satisfy tho equ!tl"j of tho rase or whether It would call for Mi h drantic action as the rxclutdon ot this trafiic from our public general lil,-hw:ys, and the requirement thr.f, e.i'ii a tho railways. It provide as a part of !s own private rspltnl Invest mo-it In own rkht of way and for Its own maintenance ot way out of open'. li.g Income." :-o::;.viii;iir is t;i:: v. r.-v.vn a'l I liiiow h what I read In tae 1 ii i t. ail lliiithei- listen J havent rcml a pa I'er In two weeks. '""''iL.f v I,,.,.,, g,,iliK too I - ' .'"-' - i rust 10 read. ir:a I v' Y about an acrl;:l t lr- 1 " a 0,10 N,!:!" e' , r?fl Stand troop, a Kar- 'if j v' V't ,ll,rul! ,Ult ,vo nie ' J ' V:t a emahli::it!on of all ,., J iJ theso nii't then "Jl AlSr i home more. 1 started my little tour tj i also to:i:e extra mo -.cy f..r tht needy n ; ! encni ployed 1 1 Tcx.ih. J'tart 'l hi Austin tho ('.".'. I' I. I had been 1. 1 tbo Movies for a eo;i!o of years, and all tho Jokes I knew I ha I rsed rm in my plr-rs, Sj v.!ie:i I i:tai tod nut on this 1 miii'ity i.hoit hau.lu.l on laugh:'. My wife said ta me, "You cant go out nnd do an evening's thnw. You havent u. " material." I told her well Hum , it for Charity nnd maliy I ran net by. Wlia said, "lie a .'too:! t'.ilng It Is for i".in:'ily, or y.-i; would bo In danger of your life." Then I got to thlnki that I diikiu have much materiel r I decided ni I was Htartlng la Texna t'.iat I batter I drop by Austin whe:. Hie State Lor.lf' i laturo was In sohsIo'.i t .d get somo ma i terlal. Well thnts v'.-y I v'.'.o o It. and Jit was a God send l i iti. It turned I out great, not that t o Texas login ; l.'.turo Is enpeclally bu: roua. Its not. I IH Jiirt tho average, In fact I think tliey got n pretty gi'n.l body there, i j Iieglidutors go. They j," t hndent done I anything, which m::do them on a p:;' j with nil others. I Met all tho K (lovc;,..a;':i. Dan Moody win had Just gouo cat. Always llker. 1 Dan. lie Is a line youir; fellow. Then i In roino my old Friend Jim Kur,;ei(on. j Jim and Mn enmo pretty near getting In again Inst time. Their nlo;;an wuh "Two Governors for t'ao prlco of one." I Out ot tliero rtter tlio Matinee and ; down lo tho old historic Han Antonio, ! v.'ucro wo suro had a flno great big House, somo nine thnuuaml didlars, j' Callleinons or. nnl.-.utlouH gave men ; reception before our show, and thai really kinder got mo, for tliero Is one I clans of men that wont be replaced. I Hvery other lino of business Is being carried on from Father to Son, nnd on , by nuwHconiei'B In the unmo business. but tho old Trail Drlvors, and the old I time Cattlemen, thoro can novor be any RECENT suggestions that all bank In the United Btutes be under l'e eral Jurisdiction, doing away with the chartering of bank by the various state recalls the opposition to this plan presented at the recent conven tion of the American Hankers Associa tion by II. 8. Hocht of New Orleans, Chairman of Its Economic Tollcy Com mission. Mr. Hocht said: , "There aro Jui,t an good reason why thoro should bo state as well as na tional banks, as that there should be state as well as a national government. I do not think that analogy Is far- I fetched. Tho stntet i.hould not sur- render all political Jurisdiction to the central government, and tho local busi ness lite of tho states should not be niado to surrender all control over financial functions to national flnancla' ! Instrumentalities. There are many ra 1 rlatlons of business conditio::-, from state to slat" and the; are l ueclal ! fiscal requli ....tiils ot the various I spates. ! "It Is entirely logical, therefore, that ! the st: lor should retain the right to charier banks so at to mold and direct j their affairs In aecorda:.co with the ) staler" g.iVi.M-e. .4.1 &;.U business re- qu!ciat:iU and l.-.-.y t..c a adapted to localized sentiment and conditions, j "Tbo argument Is sometimes d- vancrd that tho daal syt.tui Jcap- ardlzos the li.o o. the rcder.U Iteserve System because ut.ier It tliero Is a largo group ot banks that are free to remain out of or to withdraw from tho system. Facts and figures prove that this I a spocioiu argument. j "It Is truo that tliero hat been some shlflluf from national to state char ters) especially In t asea of merger of ' largo national bzn'.i with bunks op erating under state charters. However, the Federal Keierva System was not weakened In thl process berauso tho merged Institutions utmost universally retained their membership In tho sys tem on a voluntary basis. Moreover, the record, show that state bank mem ters are Just as good members ot the system as national banks and tho ratio of state bank resources In the Federal , Keservo System Is constantly growing, la 1922, national bank held about 63 per cent of the resources of reserve ! members, and state banks about 35 per I cent, while la 19HI!, the iiailonala Lcld ! cn'.y 60 per cent and etate banks 40 J per cent, ' Banking Syitems Help Each Other I "Reciprocally tbo date and national i Ir.nka pyaieir.s have helped each other. 1 tho national banking law has served la sjme respects as something of a model codo toward which state bank ing la w j more and more have ap rrac'aed year by year, to bavo the ktalo codes developed valuable reform which have suggested Improvement for the uailonal laws. A great many undesirable competitive inequalities have been wiped out by this mutual evolutionary process and further prog res along the line of uniformity so far as Is desirable Is anticipated. "However, 1 do not believe that It Is a disadvantage to have two banking ca.ies tl.at dt.Ter in some respects.. It Is quite probable that the stato bank lag codo in many instances represents a closer adjustment to local condition than could be bad under the national banking laws, and this Is a situation thai should be retained. There should, however, not bo competition between the two banking codes. Competition should be between banks themselves and not between the laws under which they operate. Tbo effort to offer too great allurem-".'! h codo rs against tho o':: corld !:..! only to woe!: l'".r.k!ng lurj. lie.t I do tl.b'.t that there nluu'.d bo the ahernatlvo opportunity thrt row exist which banking lustitutlons and local business lulcristn may choo. :, u that they can function or conduct tl'.' lr business re lationships umler. t'rr.t banking coda which best meets tl; . . .ndition of the times and ot the plui . they see them. "This has been lllm trated In both dlrecliono. In stat.; where such un sound measures cs the guarantee ot deposits were ope: .ive stato banks had the opportunity to escape the bale ful effect ot such law 3. On the other hand, when a court decision was handed down in Worcester, Massa chusetts, which rendered uncertain the position of trust as. . : acquired by a national bank through a merger with a stato bank, it was a real advantage for national banks afc cted to take out nnd operate undor n, state charter, either on a temporary or a permanent basis, as clrcumstaiui's make ex pod I ent. "In my opinion, banker, national as well as state, should combat the thought that conceives ot depriving us of the vitalizing benefits ot our dual system." Finance Fights Erosion Farm terracing to stop erosion li of major Importance in Noblo County, Oklahoma, tbo county agent said, and so one ot the county a national banks bought five farm lovc'.a to be loaned to farmer without cliargo. The ma chines were Immediately put to use and tho tanners aro ehowlng keen In terest In terracing. Two terracing school were started for adult and i ll Club boy. At Your Service THE IONE INDPENDENT High School CARNIVAL In the Local Auditorium APRIL 3 "Thursday Evening" - One Act Play "Moonshine" ----- One Act Play Singing by High School Quartet And MUSIC by the BAND COWBOY SONGS By Donald Heliker and Robert Botts Food! First Class Pie, Cake, Coffee ICE CREAM CANDY 8 Booths Will Furnish FUN FOR ALL Admission - - - - 10 ct. A SERIES of EVANGELISTIC SERVICES Will Be Conducted In The 1. 0. O. F. Hall In lone Tuesday, Wednesday, Friday and Sunday evenings At 7:45, by Oliver Barene & Alfred Cardwell Who Extend to You a Cordial Invitation. COME