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Lethbridge Herald Newspaper Archives

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Lethbridge Daily Herald, The (Newspaper) - November 21, 1911, Lethbridge, Alberta "TITF WAILY HERALD Tuesday, November LETHBRIDGE DAILY HERALD ESTABLISHED DECEMBER 1907 W. A. Director :T. W. Editor JOHN Business Manager Published by The Lethbridge Herald Publishes Co., Ltd., every lawful evening at its office, Sixth Street, Letl.bridge, Alberta, Can. PHONE: PHONE: Editorial, Reportorial, and News 1224 Advertising Circulation and Job Depts 1252 DAILV SUBSCRIPTION RATES 1 year delivered ...J-i.'OO 1 year, by mail fi months delivered 3 months delivered 1 month delivered fS.OO {1.00 ooc.. 6 mouths, by mall.....SI-''0 1 month, by Addresses changed (is often us desired, bill both new and old ail- dreyses must be glvou THE WEEKLY HERALD Published every Wednesday iu eiKlit or more pages, and contains summary or news ot tho week, local and 1 year in advance .....J1.50 j months in advance ...50o. 6 months iu advance 76c. THE DAILY HERALD FOR.SALE AT Cross prug Book tore, J.G. RoBert- son Co.. Jackson Cope, Alexandra People's Drug Store. Co., R.W. Hamilton. Plncher J. Mitchell. D. L. McCrea. Bros. Drug Book Co. Fernle, 8. Beal. Medicine Northam Cranbrook, B. Atc.hiuson. U RelllOTka. Diamond City Drug Co. Vancouver. B. C. News Co. Urowu 219 St. Jurnieson News Co., 705 Riverside Ave. Also on all C. P. R. Trains M Throttled R. ROBERT REID, a Toronto Iion' thnt we have men who Conservative, lias had pu-1are Dot afrald ot beln6 outspoken, and blished a-two-column article, Iwuo are not behindhand In. drawing of ngo yvBtotday and he was mor virile in utterance urnl vigorous attiick than ho was ten years ago. IT Is truly Canada's Grand Old la tho don't overlook to n moment ttio important fact thnt thj Dry Fanning Congress la coming ti Lethbrldjro year. And don't lo auyono VJlso forgot tt. Three men have positively ami de finitely decided to remain iu ttiv field as mayoralty candidates, hot us liuve no more of compromise. Get iloru to business, sentlemon, and the ratepayers what principles you stand for ami give tho man on the street a glimpse of your vision of the futiiiv o't the city. Narrow gunge men are not wanted. H. B. Bennett has spoken. The HIES lias heard his speech. They will hear it again and then some. When H. it. quits wandering through 'Westminster halls" and inheriting tile "glories of Lumly's Lane anil Qaeenston he will havo grown wiugs and soared to higher heights and wider lanes. R. B. i: some spell binder. Vssailinj the Borden government for being held in the clutches of corpor- ktlons and moneyed interests. He twites: corporations and finan- cial interests have this country by throat today in a manner which Is a disgrace to the Conservative party. Tho honors of governing Ca- nada at this date are pretty evonly attention to a state of things which j should not be allowed, wen where j their own leaders are concerned. Ac- cording to these accusations, Mr. Bor- dau is fairly in tbe grip of a body of men whose presence in the gover- uuiet cannot 'but be detrimental to the welfare of the people'. This is to be the guerdon of those who were led to give allegiance to the Conserva- Divided between the railway compan- tiire Prejuler under the sentiment of a tes, the bloated capitalists and monop- loyalty to the Empire falsely obtaiu- the unscrupulous corporation jiollticians ,and the financial inter- ests. These are the chief govern- ing factors at Ottawa, and the soon- the source of this form of govern- ment is destroyed and the growth torn out, root, branch and fungus, the Matter it will be for the Conserva- tive, administration in this country." Here are pretty strong terms of con damnation, and coming 'from one iu Conservatives following, be taken as 'written without bias, and out prejudice. Mr. Gordon, with- as cap- tain of the good shtp Canada, has cer-, taiuly got a mutinous crew. His first, voyage looks as if It is going to start in troubled waters. It is good, how- ever, for the welfare ot our Domf ti- ed. But this is not the only throttling to which Mr. 3orden will be subject; there Is the dictation to be reckoned with from his first mate, Hon. F. B. Monk, with the weight of all .the au- thority of Henri Bourassa behind him. Really it looks as if Mr. Borden is "between the devil and the deep sea." It rests with him to assert himself, and show himself to be the great man his choice to his present position leads one to believe. The country will anxiously look forward to Eome signs of independence on the part of., the Prime Minister. By his actions he will be judged or condemn- ed, whoa the time for rendering an account of .his. stewardship approach' Sir Wilfrid Uuirlcr was 70 to tho Immediate UKC of It. .It is tlio duty of tho bank.to forthwith lint tlfti money at tho disposal of ho Provincial for., expenditure upon ,tho public undartnklhgB. Wiy should this by the refusal of the bank to regard tho of tho Province, to comply with reqiitreuionts of the law, and the order of the court? Why should not the Province raise tho interest) chargeable on this money to tho Tato charged tho province for short loans tho proceed to bor- tho money needed from the Imnka BO ahead with inulertiiklngH? i'hc money, being ihe property of the Tovlnett. tho -Province is entitled to he use of It two or throe oars hence, and the bank if It at- cmpts to withhold tho use of it las a right to bu taxed, with all tho :ost of the luconveuienco to which he Frovlnet) might be put. The proposal is Justified on tho rrotind that tlio hank Is making us uuch out of. the money as it would be .sited to pay its use. The six millions are not lying idle in the They are out at 'avv been for many mouths, and tho Jauk has been getting the benefit f their earning power. As the mon- y belongs to the Province, ami as lie Province has not covenanted with :ie bank for ths use ot tho money at ve per cent., or any other rate, the ank is not entitled to any further enefit from tho earning power of the louoy. This belongs to the Province s much as the money itself, for tho roprletorship of tho Province having een established, the Province is-en- tied to the earning power from this me forward in total. It might not [treasonably be urged that the Prov- ide is entitled to all tho bank has ade by loaning the Province's mon- ey, from the passing o( the act last iJecembvr declaring the funds to be tho property of the Province. Al that date, the nioney came into throught Into a. more reasonable frame of mind by again raising the ante .The money in its possession hag been leclared by the courts to belong to the Province, and it Is the duty of the bank to forthwith hand over that mon- ey with the accumulated interest to the Provincial Treasurer. If, in dis- regard of law and defiance of lire courts, the bank takes the high-hand' ed course af still retaining the mon- ey for its own use. and purposes, why should it mot be made to pay for the privilege? The bank was notified In December last that it would be charg- ed 5 per cent, for the iiae of the mon ey, but it was given no assurance that it would not be charged a higher rat's of interest at eome future date. If, therefore, the hank, in fnce of the de cislon of the court; that the money belongs, to tire Province and should be handed over to the owner without delay, continues to refuse to hand it over, why should the Province not col- lect from It an additional rate of in- terest as compensation for the wrong- ful detention? This is not merely a proposal to do something to spite or unfairly use the Royal bank. Little regard as there may bo coming to that institu- tion If should refuse lo obey tho authority of the court or respect tho of tlra Province, there would be no purpose In needlessly Imposng an additional burden upon It. Hut the Province the moueyj and is en- y handing over .the money of the'pub'- lic to its owners The bank is loss of the money advanced to the Construc- tion company by the syndicate which undertook lo establish the credit of the company. It is guaranteed by the same syndicate agairfst any claim .of the Construction'conipany for the ful- fillment of any contract to loan the company further sums. The bank is, therefore absolutely both in respect of the moneys it has advanced and of any it might be called Tipon to advance to the Construction company. Any loss on either., count must bo made good by the .syndicate which undertook to bank against, loss of money loaned to the company.1 The bank is no't lighting for the re- tention of the moiyay from any real interest of its own, but to save the syndicate from the. -possible conse- quences of their own miscalculations. The aim of this syndicate was to rake n a quarter of a million dollars of the A. and G. funds in return for guaranteeing the bank in making oans to the Construction company. If ;he syndicate made "a miscalculation is to the reliability of the men with whom they were dealing-, or in the security they got for the security they ;ave, that is none of the Province's business, nor the bank's. And if Ihe shareholders of the Royal bank allow that institution to be as a means of holding up the Province or the sake of fattening u school Inanclal sharks, that is the business 'f tbe shareholders. It Is the business f tbe Province to looK out for itself n pursuance of that, the1 governmem vould be fully justified in notifying he bank that hereafter the interes-l barged- on the money wrongfully re- alnetl by H, will be six per cent., or even per or whatever rate vould recoup tho .Provincial treasury or, the cost of borrowing a similar um from tho banks. "Tust a Joke" Almott Convalescent Toronto has had ten degrees of rost, likewise several1 degrees of an- ixation scare, from which she is owly recovering. Wnnted a Window Dreiser see you advertise for dresses Have you had unli exncTlnnne? "I arranged the window In the llUt lop T was employed at, and qvcry fmanVvho passed, stopped, and -look- d in." "That's something like it. You're st -ihe man