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te lets il a th h 'a àt A BANKI9 .E~S ,là In 'an address delive..bef re the Montana Bankers' association on July 25, Orval W. Adams, avice-president of the American *Bankers ssociation and executive vice-president of -the Utah State National Bank at Sait Lake City, sounded a warning of disaster if the'financial policie.3 of' the present administration are continuéd,. After stating that the bank depoitor is the very backbone of the nation because of, the fact that lie supports himself and bears tbe brunt of taxation, Mr. Adams avers that the first duty of a hank is to its depositors. He then goes on to enumerate the duties and responsibilities which shou1d just now be discharged by banice of, the country to their depositors. Among them are the follo.wing: "First: If we are obliged to surrender the to some other person, persons or agencles, 1 believe It Is our duty. to Inform our depositors of that fact. "Second: if. we are obllged to abandon praetices whichhI the past have proved necessary. to the securlty of our Institutions and our depositorS, we shouid Inform our depositore of that fact. "Tbird: It is our duty to use our best efforts toinsure ou,. g1uDnnitor t'A further fact ehould bé noted as refiecting Ahe mînsuse or Instrumentalitleà lntended to serve tho, purpose of lndustry: Of the total obille and securities now owned' by the 12 Fedetal Ueserve banks, more than 98 pér cent comnsiets of obiga-. *tions of the Federal Government. lai 1926 this percentage was approximately 27."1 1How long, can this country go on taxing the poor ta niaintain the poor? Did you ever try lifting yourself by the. boot straps?h4-W. C. G., 1Elmwood, Ili. James A. Farley, variously known, as 'Surplus Jim," "Cali Me Jim" and "Tbree Fingered Jim," Referring again' ta the duty of bankers ta in- forni their depositors of dangers confronting them, is having a hearty, laugb. His fat, sides are fairly shakinig with, merriment, and 'j he blandly annôunces that thr Mr.Adaissaid: "If euch a dutyý was ever owed, then today It is in iecullar setise imposed upon us by reason of the present condition of affairs in thie country,. >We. cannot justlfy ourseives In negiecting this duty by ;any plea that so to- act. wouid eubJect us to a charge of partlsahshlp, '!As bankers we recognize that there are certain basic truthsi that have withstood* ail the fiery heat of experience; that they are free >of ail dross;- that they persiet. We have iearned that certain fiscal poiicies are Inherentiy sound or uinàound, constructive or destructive, Irrespeetive of who may advocate or who may oppose theni, no matter how intense public clainor may be. for or against thein. We know that fundarnental principies fIn MIlrealme of activity '-physical, me~ntal, moral and economic--cannot be abrogated or even euepended by the. whims or ediets fit of hilarity will, continue untii the ballots are counted or management o ourbans In whOe or in part November 3. Merry peal after &ýtc merry peai of 1augteris he sent- fortb on the ether. waves by the.jolly New Dealers. the irrepressible jim leading the choruis at. psychological moments. It's an id a which Jini thought up aIl by himself. Carefu' ly counting noseslie heu -corne to the defitite coniclusion that the new Deal party will " of mien, no more than.we can stay the operation of the iaws of gravitation." a fair retUrn on the EVERY MAN'S PAY -RoLL The foiiowing éditorial f rom the Boston Herald makes vividly, clear what has been happening ta the civil service system during the past three carry 96 of. the 48 states, Ieaving just none at al for the real Democrats and the-Republicans. The laughter is ta be of the derisive brand, which Jim acquired while promoting prize flghts, and employed whenever any "punk" had the temerity t<> engage one of bis champions in mortal comba t in the squared circle. It's the Iatest strategy of Jim and his cohorts in the campaign. The election being ini the bag, so to speak, they have decided to iust laugh Landon off, nokino- fun at .Warning that a continuance of the, preseut borrowing and spending poiticy of the governmenf' will lead' to a destruction of the savings of depasitars, Mr. Adams says, "Tedepositor, as such has refused to buy Government bonds. Does hie know that in the past year five out of every six dollars of the new nioneys borrow.ed by the Federal Government have been borrowed from banks? Baniks today hold obligations of~ the government totaling sorne three times their aggregate capital. A drop of even ten poinlts ln the market of such bonds would wipe out 40 per cent of the capital of. pay rail. of the federai governinent without benefit of civil service. The resuit is here tald in graphic fashiôn: "Rvery man, wamnan 'andchild in America hias k wsiono.Heny a arolwhteh a i lt nw to apyriwehrh not own aily property, he may not pay any incame fax, or any (direct?ý) taxes of any kind. Ail the same, he is contributing to the support of the 3,000O,000 officiais who are employed by aur being conducted over the country. wiil no doubt add ta Jim's merriment. Besides which, memory runs to aur lboyhood, when the aid copy book motta which we were required ta write many tinmes a day went something like this: "He laughs best ivho laughs last." In spite of the 7 t discovered Iast. week football players are ail sional pride must have 7 score, the Detroit Lionsý that the Al-Star college stars. The fall of profesbeen terrific. * federal, state, and local governments. ave Li: That Chicago chicken fancier who Iost Lis flock onot. and It Io our duty té endeavor, of our ability, ta make these facts 'In the recovery agenci< employes have latel.y b whorn are exempt from, of fowls neeain't lo~ok our way. We know a better way of getting 'cm. cOf nme7 service THE P~iaNTou REPORtzp I