The Butler Weekly Times Newspaper, October 1, 1908, Page 6

b or as a Republican Represen- 1 voted ic amendment to t bill to put on the free list every article manufactured by a trust kv Republican Congress voted agaist it, as Mr. Hadley would have ‘done had he stood on that floor as a Missouri Representative. Voted Against the Railroads. ‘l made the mimority report and led the fight against an appropriation of mullions of dollars im land and money to be given to the two great railroad anies entering the City of Wash- ington to gid them in building de- pots and elevating their tracks. And, though defeated at tirst, it was due to the fight 1 led that in the end we co reduced the apprepriation a million ‘ dollars and gave the present magni- ficent Union Station to the City of Washington, Had Mr, Hadley made such a fight im any representative body he would now be posing as a builder of the station and calling up- t ! to erect his monument place adorns made the minority report and Jed the fight against the bill incteas- ing the capitalization of the Wash- ington Gas Light Company Nine nuihon dollars, without any corres~ ponding benetit to the people of that enty, and, notwithstanding 1 was a Republican Congress and the measure supported by every Republican but a" one upon the committee, it was de- feated “When I went upon the Committee on Post Offices and Post Roads the Governinent was appropriating about 0,000 for rural tree delivery. | served six years on that committee, a portion of the time a member of the subcommittee that framed the greatest appropriation bill that comes before Congress, and during my set- vice the rural free delivery grew from a handful of carriers to an army and the appropriation for that service from $250,000 to more than $20,000, ooo, 1 did my part in giving to the farmers of Missouri and the United States the benefit of a daly mail, and every traveler over Missouri roads may find a monument to that work the humble boxes before ev- ery farmer's house What Would He Have Done? “Had Mr. Hadley taken an equal be posing before the people of the State as the father and founder of the systen Sut when he challenges me to give reasons from my record why ] should be selected to this office in opposition to himself, 1 do not need to answer him in my own words. I do not need to follow him through his flights of vain-glorious boasting, He and I weree both in the service of Jackson County from 1000 to 1902; ’ 1 as a member of Congress, he as Prosecuting Attorney of that county. Nineteen hundred and two was not 4 presidential year; there were no na tional questions to, take the minds ot people away from local issues; there was no enthusiasm for a presidential candidate to distract the voter, and he had then the opportunity of voting for the man. Kansas City has given a majority to every Republican Pres ident with one exception since the} BT Civil War. Two-thirds of the time it elects a Republican to the office ot Mayor. 3 “Mr, Hadley made the campaign for the Republican ticket in 1002, I made the campaign for the Democrat- ic ticket; he stood upon his record, I on mine, and the people whom we both had served, the people of our home who knew us both, the people who were better able than any gther to decide upon the value of our ser- vice, elected me by 6,235 majority and defeated him by 3,647 “Mr, Hadley sdys I was defeated for Congress in 1904. He knows full well that in that campaign as chair man of the Democratic C ngressional Committee I spent but five days in my district, giving my entire time to the duties of my position at head- quarters in Washington and in New York. He knows, too, that in a fit of temporary insanity that year Mis souri went Republican and ten Mis- souri Democrats were compelled to yield their seats in Congress to Re- publicans, largely because of the pop- ¢ ularity of Mr. Roosevelt and the un- popularity of Mr. Parker. But when he calls attention to the fact that in this landslide I went down with better men I call his attention to the fact that, notwithstanding I made no cam- paign, I ran 4,000 votes ahead vf the national ticket in Jackson County and ‘ Jed most of the local ticket by a like is majority. Sewer-Pipe and Trusts. “Posing as a trust buster, Mr, Had- | ley selects Walter S. Dickey of Kan- 4 sas City as his campaign manager. No £ sewer pipe is sold in Mr, Dickey’s ‘ territory except such as comes from 4 his plants, and since by some device he ¢ gained control of all the factories in a that territory. and his comnetitors é verv generously decided not to inter- fere with him, he has more than | doubled the cost of every foot of pipe that is laid in that portion of the United States. A trust-busting cam- paign managed by Dickey and an anti-brewery camp*ien managed by Stiefel presents the climax of false pretense in politics. “Mr. Hadley left public office as a result of the campaign of 1902, but he retired to the more lucrative posi- tion of attorney for the Metropolitan Street Railroad Company and the M., K. & T. road. I have no fault to find with him for such employment. It was honorable and proper work for a man in his profession, but his mouth- ings against railroads comes with bad grace from a railroad attorney. “I do not know where the railroads of the State stand in this campaign, but I shall not denounce any great in- dustr; by playing the demagogue gain the vote of the discontented. 1 want the vote of every honest man. business. are entitled istration of the guilty, protection for the cent. in this State in the hope that may I want the support of every honest But whether they supvort me or not, as Governor of this State IT shall endeavor to see that in the administration of the law each is given that and that only to which all a fair deal, a just admin- the law, punishment for COUNTRY PRESS THE pe | leveland, re REAL EDUCATOR. estate, the New York Times, faith what purported t political utterances of Mr. v eived a letter from F. 8 liustings, executor Cleveland's which, after referring to the ar- of Mr. which ticle published and an interview on the The Republican part: po! lishment of a postal savings bank system; the Democratic party prefers the guar- anteed bank because it is better for the depositor and better for the banker—it gives the depositor the security which he needs and yet leaves the banking busi- you of my conclusion regarding the ar-| or officials of the bank. This is the fruit ticle and beg .to express the hope and/ ful cause of disaster, 7nd it has been belief that you will promptly give to this | impossible to secure legislation protect communication the same degree of prom. | ing banks from their own officials an¢ inence in the Times that was given to | directors. Why? Because there haz the statement made by me in your issue | been no mutal responsibility. When al! respectfully, | banks become lable for the deposits of of September 3. You subject, printed on September 23, says: FS HASTINGS. each, the stockholders will insist upon | ness in the hands of the banks. But the I now desire to say that there has the enactment of a law making It : | Democratic platform declares for “a pos- Charles W. Knapp Exploits Its since come to my knowledge “evidence” | The Times received a letter from Mrs.| criminal offense for a bank official to tal savings ik if the guaranteed bank which leaves in my mind no doubt that| Cleveland several @ays after publication }!oan more than the prescribed amount; can not be secured,” and in November the said Value in Matters of Public Policy, Particularly in article was not written nor signed by Mr. Cleveland, and, therefore, is, in my opinion, no longer entitled to more than ninety per cent of the voters will by their ballots demand either the guaranteed bank or the posta! savings to one individual. At present we have a law prohibiting the loaning of more than one-tenth of the capital and surplus to of the alleged letter reflecting on Mr. Bryan and the Democratic party, in which she expressed doubts as to the io “ credit as his production. genuineness of the article. An investi-}one person or corporation, but the law|bank. Can the financiers prevent the Political Campaigns. Mrs. Cleveland, in my judgment, was| gation was immediately started, with] is only directory. Of course, the comp- carrying out of this demand? right in regarding it a forgery, when| the result that’both Mrs. Cleveland and] troller can suspend a bank if it violates} The Republican platform does not go Charles W. Knapp, editor of The Re-]she positively declared to us since its] Mr. Hastings now repudiate the article| the law, but the law is not enforced, | into detail, but it is fair to assume that public, In his welcoming address at the] publication: “I do not belleve it is gen-]| as the product of the pen of the former because ‘the enforcement of such a law| the postal savings bank plank is intend dinner, said: uine.” therefore, hasten inform | President would throw the punishment upon In-|ed as an Indorsement of the postal sa’ “The pleasing duty has come to me to _ nocent Meeknosete and upon thé com-|ings bank system proposed by the Prest —— Welcome to this splendid assembly re sitice — suspension of . os dent and pocimastee-cenetel. | ae —_ of fighti Democrats, and 1 am grati- ARANT nflicts great loss upon stockholders| plan the eral government wou! n= fied that | can extend felicitations to the GU EED BANKS. and disturbs the business of the city or|vite the deposit of savings, @ limit Democratic editors of Missouri on the town in which the bank is located. being placed upon the amount that ardor and hopefulness with which they are supporting their party's cause. The sumulaung enthusiasm which has char- erized their meeting today is encour- aging augury of coming victory. It fore- shadows a great Democratic triumph tor Missouri in the November election, “United and aggressive, the Democrat- ic press of Missouri fitingly typifies the militant party for which it speaks. Its own unity and accord certify to the spirit ot harmony which has brought all -fac- tions back into one fold, a harmony no internal dissensions disturbs, and they contirm the confidence which a clean past record and a progressive future policy tuspire in the heart of every Democrat. Why_ not make the 27, 1908. By William Jennings Bryan, Topeka, Kansas, August | Mr. Chairman, Ladies and Gentlemen: depositor secure? The United States government requires the deposit of specific security: when it ‘The entrusts money to a national bank, al- though it can examine the bank at any time: the state requires security when it The law should make it a criminal of- fense to loan more than the prescribed amount to one person, and we would beh Se Site catty sp taaie of a law prohibiting market lation by bank officials. ieee The Oklahoma plan is working satis- factorily. A bank recently failed in Ok- lahoma; within forty-eight minutes af- ter the notice of suspension, the officer in charge had authority to pay all de- positors, and then the banking board sregery to collect the assets of the hank and to prosecute the officials crimi- nally, When the business was closed up, the stockholders passed a __ resolution thanking the state board for its prompt each person or each family could de- posit. geen | to this plan, the busi- ness man would not be protected, for he uses a checking account instead of a savings account; but no one can doubt that the successful operation of a gov~ ernment savings bank would ultimately lead to an extension of the plan until the ernment bank would include the or- mary checking account and open to deposits without limit. It would mean a long contest between the depositors and the bankers, but a contest which must in the end be decided on the side of the depositors. The bank must de- cide, therefore, whether he will favor a postal savings bank which, in the ab- date not only does not advocate a com- pulsory system, but specifically and em- phatically opposes it, He says: * Democratic platform recommends a tax upon national banks and upon such state banks as may come in, in the nature of enforced insurance to raise a I appreciate the opportunity 1 am afford- - * action, the action of the board being a|sence of the guaranteed bank, will grow 4 prefore ~ . sore-} deposits money in a bank; the county guaranty fund to pay the depositors of cd, therefore, to. congratulate my co-| deposits money In, 0, Milks Me, ciuires | any bank which MA protection to the stockholders, as well as | until it, absorbs the banking, Dus nene. workers In a great cause on the splendid ticket and the admirable platform we ure privileged to present to the voters of Missouri in this campaign, from his chances? UNITED MILITANT DEMOCRACY. “The high personal character, the deep sympathy with opp! «i and over- burdened humanity, the sincere and ar- dent patriotism of the great leader to whom we have given our presidential nomination for the third time, no friend hag ever douvted, no’ political opponent ity, lected? will dare impeach. It is true, We have had our differences in the past, differ- ences over economic Issues which have] o¢ his money, esuunged some Democrats, but these e the ‘ differences are now buried, and the Dem- | -pp ; he depositor, ocratic party. is again united, with to] prcker | Parker, its Olney, terson and other lea its Francis, its Wat- rs who were security; even the ban the officials have a mortgage on the gilt-e sets and the depositor must ge as best he can with what remains, Why are the interests of depositors thus neg- A bank asks deposits on that the depositor is sure banker himself will be bene: which will give to every depositor ssurance that that which is com: ks require security who handle money. Why should the depositor be left to take Not only is the depositor without pro- tection, but the security given to nation, state, county and city lessens his secur- They are preferred creditors; they ged as- | t along the tiory of the return and the laws ought to facts conform to. the theory, the community and. the fited by legis- to the depositors and to the public gen- And then he questions the right of the erally, ing by giving to the people, through a government to enact such a law, saying: Compare this fail bs c ure under the guaranty | guaranty law, the protection which they Be ng pitied banks can be included in} svstem with a failure where there is no | must ‘otherwise find. in a government og? net is one the constitution | eyaranty. In Oklahoma the bank com- | bank. and aaretiare Mr ieeneaete atte missioner telephoned the farmers to| The Democratic plan, therefore, con- the meaning and purpose of the ron ee come in and get their money, and the| templates a less radical charge than the of the platform. If they come bn ‘under | &8wer was: “Tam busy today withmy|Republigan plan. In his notification ; crop; I will be in in a day or two.” speech Mr, Taft charged the Democrats such a system, they must necessarily be brought within the closest national con- trol, and so they must really cease to be state banks and become national banks." His solicitude for the state bank will hardly impress the country, for he is quite indifierent to states and their re- served rights when he deals with other subjects. When Congress is in the con- trol of those who want to legislate for the whole people rather than for the few, it will not be difficult to frame a law under which state banks can avail themselves of the advantages of a fed- with being socialistic in some of their remedies. The charge was not well founded, but I might reply by charging him with advocating an unnecessary ex- tension’ of the government's sphere of. activity in the establishment of the pos- tal savings bank, when the guaranteed bank would answer the same purpose without any considerable increase in the number of government employes. I would rather see the banks attend to the bank- ing business than to have It transferred to the government, and because I prefer In Cleveland, Ohio, a bank failed about the same time, and the papers announced “twelve hundred infuriated — Italians stormed the closed doors of the busted banking house of Costan Liopea, on Orange street, today. The police drove the crowd back.” An objection is sometimes made to the guaranty law that a “new bank would start up across the street," and, being able to promise its depositors absolute security through the guaranty law, could draw the deposits away from conserva- ated a dozen years ago now earne: 1 to the keeping of the bank wilk/ eral la 1 tively mevaged banks by offering a|to have the banking business done by enthusiastic supporters of | the be available to pa his needs at any national” pitta dust se ve Bh. ened fe higher rate of interest than the latter} the banks rather than by the govern- Commo! of Nebraska, The time, Such is not the case today, for} Oklahoma to frame a law which areas could pay. This objection is urged as if} ment, I urge the guaranty of deposits tio ss, gentlemen, justify us in recalling | while all banks are reasonably secure, | ted national banks to take advantage it were an unanswerable one. But let | as_the easiest solution for our difficulties. we algnifoant face that Democracy they are not absolutely so, ‘This state: | of the state guaranty system, It will also us see how easily it can be met, Since| There are only 20,000 banks, while there united and harmon ous has never yet{ Mey, She MN Verified in several Ways. | be vasy to enact a federal law which will the law makes all of the banks Hable for | are. 15,001,000 depositors, and 1 do not been beaten, First:. The President has advocated @] permit national banks to avail them- the obligations of each bank, the law] hesitate to declare that In a conflict be- he tight in Missourt this year is on postal savings bank, and his postmaster | selves of state guaranty systems until should prohibit any abuse of this se-| tween the two, the depositors have a linge (Shet, shonl atouee te ete poetal in presenting an argument in its/a national system can be secured, Ate] Curity by any bank, and in Ollahoma the prior claim to considerations. If, we es- an ate ne energy of every Dem¢ favor, ‘pointed out that many millions | torney-General Bonaparte's Tuling, | banking board has already fixed the rate timate the average number of stock editor, ‘The issues invite the ae Vor ont to European savings banks | whether is correctly interprets the law | of interest that can be pald to depositors, holders of each bank at seventy-five terest and highest endeavor of every year by Amer! s of foreign! or not, would not bring such consterna- According to the rules of the banking. and that ts a liberal estimate—the total who fecla the fervor of the true Demo-| birth, who profer to trust the state Iie) tion as it does if the Rcpuntican candi. | board, no bank is permitted to pay more | Number of stockholders would only be a cratic apie Missouri is battling to hold] Sirutions of the nations beyond the sea}date favored a law allowing national than three per cent on short-time de- | million and a half, or one-tenth as many self’ constitutes the. issu ae tee in it] either than the private banking institu-| banks to take advantage of state systems posits ore than four per cent on|as there are depositors, |The stookhold- SE eee eee cue ator néhelent mubiic| Core oe for the protection of depositors. but Mr.| time deposits running for six months or | ¢F is not compelled to buy stock, while paig' ol record of efficient public saa : ; at a consider-| ‘Taft's hostility to all : more. the depositor is compelled to use the Kervice no Democrat need offer explana-| Second: It ig known that a. consid | a Nie" own in ha eee an Tt has algo been urged_as_an objection! banks, both for his own sake and for Se eee ainhe_atrent—of moneys tn idling the vero mters: patie That under the guaranty svatem a bie Tire aatee othe commuritty, fer ony Mae iusiness depression. "this money | "The proposition is to tax the honest} Hine wrod mine iP, advantage over 3 E ine, BABES Can MS Se ee one POWER OF THE PRESS. i ot ony. IE ae trom active a and prudent banker to make up for ne Nttle bank, Even if thi miment we reulating inedium, ‘} “LE fa not from: tite {impassioned lipk of | Mut je Ukely fo be witharawn just sri Gisnanesty aug lmprucence ab others aunde Se Scull nak wel ta Ias ae pes is the geentat TUMOR "Re the daUeeulenGd bhealbrae whose sios | the time wher money 1s most needed and No, ONS San foresee the burden which, vantages of the system, for banks are ake oat ara ioy eee ere, Meee eT when the. withdrawal ‘will increage the} under this ayatem, would be Imposed made Toe the People, Not. te peonle: tor wag ct MN lO Missouri will Pet ial disturbance. It ix impossible-to| Upon the sound and conservative bank- | {7° banks, While there are _advants Fen TD re nese perir-Neiige-rhver Cia correct understands finanelal distarbanerrsa futite to tell men | ers of the country by this obligation to| M having Dik banks, the hdvantages te | o¢ Ne elon tithe. olatt what Democracy has done for the freer tr arobably get their money. {Make good the losses caused by the | Ret suman’ fo tify the Jeovardizing Of the delakhotder: ‘the stockholder. his and what its continug cr wili| ‘The moment the depositors suspect a|reckless, speculative and dishonest men, of the depositor or of the business In- of Lhe scree el bane oh thn assure in the future, y can be} bank, they hasten to destroy its solvency, who would be enabled to secure deposits | terests of a community. or verre a ‘, “ vehoe iy of ‘eau nk Sere ee tee ihe Damocratlo press, and | Distrust, and distrust alons, can explain | Under such 4 system on the feith of the asa matter of fact, the bie bank officials; the depositor has not. gy the editor, far more certainly than the | the hiding of money. - Proposed Insurance; as in ite present HU Hane severe OE eae ee Gaemene. te ouen We Peantt or trator, can inform. and convince the| Third: ‘The increase in the issue of shape, the proposal would remove all] the simail one, In the tl ont ed aang AL ‘ iy ete SER tOF oan ety campalan of education | money orders, payable to. the roar, of) snrewusrys Amelie: Pechlessnaes tn Danke make larger loans thi ae rg ee a as ee fel Monet een ct the work falls to. the) the purchaser, is another evidence that) ing, and the chief, and, in the end, For instance, a bank with $1,000,000 capt vie ae rust eneh Se etonit ‘and it is so in this campaign of| people are seeking greater security for probably the only benefit’ would accrue | {@! and. surplus could, as at present, | not tuay eel Rh Snows Meet aitescurh, ‘The Inemocentic nowee| their money, The banks will pay an ine} to. the speculator, who would be de- loan $100,000 to one person, while a bank CADUCE: the: AepOSIEGTS: LOPE URE: She se ie nat Inatruot the people. apouc| terest upon deposits, and yet those Whol] Lented. to siter the, banking business With Sn, 08 capital and ua could “o fortunate, however, in that w the honest and faithful se of thir buy money orders prefer to, loge the Inc] Nien Mat thar would accrues while. the OU Joan F000 to one pereons | Eh a Yt come! A chuaee, becweon nut its high aims and laudable] terest, and, in addition to that, pay the/®ny profit that would accrue, while the| Vantage would in itself draw to the larg» ee the barr ag Soe te . price of the money order to secure the}Tisk would have to be assumed by his bank the large deposits and the men do- ote th r and justice to the Republican party conducting | government's guaranty, honest and hard-working. fellow.” ing business upon a large scale, for de-, the stockholder, for as has been shown a ign of cant and hypocrisy, with] Fourth: National banks confess that Fike rchat Ritupee dire disaster and de. Dosis we Aisne ar gee busi pea ta A oh wh a iniies . ti oa ons 48 . ‘ “ ate WF clares that “if t 1 hen, too, there is a certain. business | Ct loge JustiC oth, its candidates committed to a programme | their banks are not secure when they) Cui coe ae re propnnat aban ne advantage in depositing with a big bank, | 8dvancage to be More than that. of pretense and dissimulation, the Dem- ocratic newspaper as an exceptional op- evident is, of necessity, the true exem- plar of the real nobility of journalism, cured banks, MAINTAIN A HIGH STANDARD. drawals, “Let us resolve, therefore, to keep our pelitics within the lines of truth, to fear- lessly attack evil no matter what party mask it may hide behind, to uphold the law whether Its enforcement means em- barrassment or advantage in our politi- cal alliances. These standards faithfully preserved, the highest reward that can come to a newspaper from a_ political victory is assured. It is the strengthened confidence of subscribers who respect, even when they disagree with, the news- paper they read. “In this spirit let us unite, fellow- Democrats, to give Bryan and Kern, Cowherd and Painter, with their associ- ates on our ticket, an old-time Missouri majority, Let us exhaust every energy we can command, exert our best en- deavors, to make the victory of 198 monument to the vi us aggressiveness of Missouri's splendid Democratic press. FORGERY. Letter of Cleveland on Taft, Circulated by Republican tion. & nary humous letter of Grover Cleveland, in- payments on checks, everywhere brought to a that their deposits are, jemand under ordi- but payable at the! Oklahoma The | regulations stricter. iderable loss leclares: yments, and lesson which circumstances, wilk of the bank in emergencies. depositors suffered a consi during the suspension of pa: they have not forgotten the they then lea’ uired to establish a and this, too, law, $1, 153, 026.27 and, if necessary, however. rned, The Democratic oppose the guaranty of state banks on the ground that it would lessen the do- cured banks, and deposited it in the se- in spite of the fact that in order to prevent with~ the unsecured banks, instances, offered a higher rate of inter- est than the secured banks were permit- ted to pay; and it must be remembered also that the banks which suffered a loss of deposits were all national banks. And to make it certain that the differ oer nti ot fiake gat ed, hile th cui national banks gained, while the| sound and c rativ unsecured banks lost. While the deposits | country by tha cnipatlon te mal = the pte? mee ins the (age ta anne the losses caused by the reckless, Hoon 0 lahoma, they were failing in_ the ve an ” 9 state banks and trust companies of Kan- i d dishonest men,” ete. We have sas—the decrease being tween March a ang Sune Te tania No amount of criticism of ie timid| when banks become depositor can change the facts; the peo-| for each peepee tee! responsible le Mga eg peso Mg ll curity than the laws at presen ive | favor better regu curity (recy will change banks to. get| striction. > ations and greater re- more security, will send their money to another state. | pos’ For many years efforts have been made | tion? While he refuses to in Congress and in the various states to secure a law guaranteeing deposits, the influence of the tutions has been sufficient to prevent ac- Last fall, banks, by a pee mag oe Fo ge in banking,” tt lepositors were | norance of the subject, Teallzation of | does pe a in in fact, in some a ae foresee the burden which, under this be- they but t banking insti- when the guaranty fund tg that law would still dorsing Taft, the Republican candidate ment of the It for the presidency, published throughout oe aaah st eent national tank, ehder an| would either have ag the pg oe 5 aaron ig now declared | equitable em which shall be avail- or secure the of men by Mrs. Clev and F. 8. Hastings, | apie to state banking institutions} who had the capital. this executor of the Cleveland estate, to wishing to use it.” with the 100 cent % a fe § ‘This principle has been applied in Ok-| would a t the M com: ved from the|jahoma and the results have been very| ers not_ int ielect care- bl ton of the story by Repub-| satisfactory. The a’ annual loss | less Why a Flean ational tee, which saw/to depositors in banks during] be “ enter busi- to it that the utterances of the| the last forty years has been lesa than/| ness” guaranty | He man who was elected to the presi- | one-tenth of one cent of the ig’ not relieved from obliga- oa the Dememeiie Seer wre aoa 5 loss to fund in nor is he criminal Gg make nothing iN — Ieappear, that Cleveland: up the | ste months fateh. toe ln bos Dose te suything to gain it platform is silent on the plan which w |bonker—and it is opose protects the It is worth something to be able to refer only protection— sts, it would brin, a be & the whole banking} ¢4 a pig bank when one’s financial stand- system of the country down in ruin.” BN yortunity for a ssive journalism. =| in national banks; and state bank-, < e © j P| rove Tran onporeunity nat 8 ante walle ae se hat there banks Ly oe yoc| AS an after thought, he suggests that| iNé ts belug Investigated, and worth: stilt | git gate eh. inden its "eneroach= for vinerous work ly whet we are in the| cure when they oppose a national guare| ® YOIUNtSrY aystem might be tolerated, feces se fare She: orice OF erence misht, upen'the bankens business. With fill af tertning. the-countey_proms,"_theLanty. syetem—on—the-ground—that-t¢_wilt-| DUR _ea_his objections 16a compulsory large business experience when business | TO" i tonivod bank estabilahed, it verte daily of the smaller towns and the coun- | draw deposits away from state banks, | System apply just as well to a voluntary enterprises are being considered, ood ipoiee ny Beitr ye ne 4 ev ‘ded Hee Muha the men whoyif you want to find whether batike ace;eree ve may teris comune ine tentret Besides these,—there-is-a social advan ee et eed villives, Where there tirect these papers, (he meh who ait] absolutely Aecuré, .auk the ditectors. to, fe lemIRRHGN WHIGH fins for ite onject tage in being on good terms with the antes wiki about these tables to-night, are accom-| give you their personal note to secure the guaranty of depositors, tee hs, are prombient in he. ee 0: ‘antage which the ee aoe” acd vonurageous Of | Sonr.deposlt and you will learn that they| As Mr. Tatts argument ie that pre | oii bead MENA A Lae ee al #. brings. to. the the metropolitan daily can give | will not bear the risk which they ask you sented by the big banks which put their aes Worth enough to it under ths ley tal The Republic, sending more | to bear. own. selfish interests above the welfare | @tranty tem; it should not begrudye | h cae ‘ e-quarters of & million” copies Fifth: The experience of Oklmoma of_the depgsitors and the safety of the the sin it banks the advantage which fall ie the pan a ne its varioys editions to Missouri read-| furnishes conclusive proof that deposi- if, it is worth while to answer re UATAKY CE BEBORIS, WOE BPO 0 togue nka wanted to eee rope oil atrive hard to do its | tre donot feel that thelr money is safe (ene several propositions which he ad-| ree with nthe clis of the work. But after all is|in unsecured banks. On the 17th of De- , Vances. beth ot pase from this subject with: | bank in th lid the great responsibility rests on the] cember, 1907, the Oklahoma legislature ont nanan PHA EREaene , eae nope el TL AB MR ae ts: were rot pared meet the country press. enacted a depositors’ guaranty law, |} m3 lent banker would | Hie Boe for but banks fail as well as| With deposits guaranteed, the Which became operative February 4th, | taxed to make up for the dishonesty | little one, for big banks fail as well a3] aio ng puns on focal banks aud . f er ry 4th. | and imprudence of others" Is not this | small barks, and the bigger the bank thes Go," withdrawal i ks an DEMOCRATIC EDITORS ARE FIGHT. | 14S. “By the provisions of this Law. all) rye ot” all resteietions’ on’ basking? to the community | 0m Wither wal Ot cartel of th ity wea tlesire to avail themselves of the law, | Dose net ie Honest end prudent banker, uk is SE ercaarcs (he crnee nacruntin “No one who is acquainted with the| are taxed one per cent on their deposit Pua Coa EWS Sonor ie Ondeh thas! community ‘h pond Bl for the delivery of a sHeceh aban, hi Dee ae Tee aed atarl, “ne. cne|and the money thus collected is put into a | (Re Gepositor may be protected trom the |i nant nst the | subject, because your newghbor upon uh Demosrale prewe or seats Calton cel euaranty fund The baling Hoard. iW] cenmueus ta URErueanes 2E (We DAG the Sannre of the @me an against | South has been a pioneer in this reform Who knw eine at ioe a moment their | authorised to make. additional. saeem,|Uo OADEe, laws a) Bl, Ane Banking) "7 pet AR Sati aes Her plun, as you Know, has been such « ability or their willingness to fully meet| ments from time to time to keep the was done by private Individuals, the} , fe Bee Soci Ween Coie that | signal success that. deposiis have been all their responsibilities, No state in the] fund up to this amount, and is directed honest and prudent banker would save) {Ve Pullin system would bring into} Grawn across the Ine from your state Union can show such a list of fighting | to take possession of any Insolvent bank, he aponey that he now pave for enforced | men and ing buainess a lower class Oflinto Oklahoma. ‘The alatm caused by tdiiors as the roster of this association | pay the depositors in full, and reimburse i. ‘ me contiry, te 4 i , £} thi vasior 2 ing “tor. will disclose, and when the returns are img fuga ty collecting the asseta of the| *¢. tumes make interest on a part of the RA ee Sah ie SUR ie caused. your Mnlude ct Will dieclose, and Wher the Ferree ea |talied banks Five hundred mud cfty-five | micuee sunni’ we, Mm cow segues to Weep FO eR eeu ee en ihe | Gall tor. wpe ion & recomme Bae avert adileea have Wonedicanim. including Arty-Rewe ~ Wationl | tesa eeu Ge 6 Slee cowerre” Fue Dee Hoe rene re eticr alee ‘of men | HOR of the passage of a law similer to their political fighting to good purpose, | banks, had come under the provisions of | those laws p bankers are not prudent, | anne ae at better class of men} that of UKla i. When the legi “But there is another and a higher ob-| this law on the Hth of last May, leay- these laws place a burden upon the good | 200 Btst: if that is possible, the aver-| ture met, however, the influence of ae ligation which every self-respecting editor | ing but 255 unsecured banks (all national) 1 28 Well as won the bad. it being difficult | Gieoreait thint ter es notte that one | large banks was ‘sufficient to provert place above 2 pol ra Ys | 3! \- sta S a Bh 7 is e “ nae islati as y s € ye ar ‘ite * uitention ne aa ee et peeruns Sit ieee Be ca monent one until a bank actually oo. fel sa’ should lose, ragnay se oni Tine. ey wesote OF Heaaaae Save which must always rank abov a | twee , ric anks : ; an 6 ee roan ar Not | Bad eszon; they know the Which must, always, rank above the, 26-) tween, thoes periogy eras 2 avhile. the | ari tke, manner it might be sald that 10] fet oa name should be eareful of | Necessity “or a law guaraneclng depos- MT ds or ieee civ the call of gunsolente, [naecured banks, Gl nevonal anewed. &1 Weimenee cotta seed hat be ae Nich. on is Rood name and considerate of the | ig“ "'hiey have seen its. beneficent. te ton wich fipee On Gears’ Games ak | dnctonss dn theponita. OC HULMIMe Alteecaen Werihe aun haus te ae extern of his fellows? At present & Su0-| suits ‘in a sister state; they have seen the press, be he editor or reporter, must {large part of this increase represented they are, but the careful have to pay ful farmer or business man may bel rfty-four national banks taking advan- recognize as the paramount. law. No} monev brought from hiding or from with- higher rates than they should, because | duced to take stock in a bank. It may | tage of the state system and reaping TOCuEOHES Ae eee cel should eve lant (ie eens, ‘Out the Goniene 10 tA some are not careful. Life insurance| be that his name is desired to givel rich reward. I have made inquiry faa MOR STE OF Polen mediter to forget Craecuved banice can onty be exmtained i |enter ct witee ths Maeael uk We sce” standing and credit to the bank, tut|find that many Kansas bankers favor his moral scruples, and the newspaper in| one way. A large number of depositors roa y egg ra aie ies 96 age sch, tne je -opnatantly, ore yale the adoption of a guaranty system—threc - which the reign of conscience Is always] withdrew their money from the unse-| too” the cautious a telat teeen: of criminal conduct ‘which will bring the fourths of those who have replied have declared for the guaranteed bank. They have heard the echo of the blow that has been struck at the national banks of Oklahoma by the attorney-general’s ruling, which denies to such banks the right to share in the benefits of the state guaranty system—that echo bens the surrender of charters by national banks which prefer to become sta‘e banks rather than surrender the benefits of the jaranty system. Four national banks have surrendered their charters and are now condu as state banks, while sixteen more have applied for state charters. Your people have also seen how the influence of a few big Lemay Page ge upon a legislature, can eat the wishes of the smaller banks and the desire of the depositors all over the state. I submit that in this effort to make all ne Dei tic bank into insolvency. It is even possible that the bank’s assets may be entirely dissipated, and that the honest citizen, who has become a_ stockholder, may either be compelled to go beyond his legal liability or meet the bitter criticism of the depositors who have suffered by the failure. Would it not be worth something to the stockholder, in peace of mind, to know that the maximum of his loss would be the value of his stock and the 100 per cent Mability, and that no depositer could lose anything? Iam convinced that the guaranty of deposits would not lead to degeneration in the personnel of the bankers, To fustify a law guaranteeing depost- tors, it is not necessary to show that the advantage to the bankers would amount to more than the tax. The examination of the banks would continue to be made at the expense of the banks, even if it were certain that the examination was of no pecuniary advantage to the banks. The law would continue to require a cer- tain amovnt of reserve to be kept on hand, even if it were certain that such a law brought no pecuniary gain to the some are careless of their health. All insurance is open to the same objection, and yet insurance of all forms is grow- ing, and the insurance of depositors is growing in popularity more rapidly than ed oe ee 54 L beet aren I ly add, yields the largest retur the investment. sais me Mr. Taft complains that “no one can gystem, would imposed upon the the past to guide us, and we have rea- son to believe that the loss will be less in the future than in the it, because its they will be suffciently interest in each other to ‘What has Mr. Taft done to protect de- itors from recklessness and specula- tect Sepos: rich-Vreciand law, wiich invites speculation and stock fits of ii upon all. has the Republican party been so itors, e praises the Al ry, jobbing. In declaring that the bank; and so the banks ought to respoi proposed by the Democrats “would re-|compelled to insure their depositors es ye og 4 = Sane thy move all safeguards against recklessness | against loss, even if it could not be) mands of the masses? There are two Mr. betrays an ig-| shown that such insurance would bring| reason#: first, the Republican party has allowed a compensating advantage to the bank. itself to become the servant not. pro) the removal of any} The bank charter has a value; if it were|of the favor-seeking corporations; safeguards. In fact, it contemplates |not valuable the bank would not be or- long; and, aatepaatis. in feet it contemplates | oot ro The tank charter is & Gt |{cok et questions’ ftom the enistonnte look at questions from the aristocratic standpoint, the ea of the few, rather than from the Democratic stand- eee the standpoint of the many. They legislate upon the theory that society is suspended from the top, and they fall, therefore, to understand either the evils the people through the law, and the people who authorize the establish- ment of a bank have a right to demand, in return, that the bank shall keep the which it gives when it invites its, and make good its ag gd of that “the only benefit Yo eater the banking certain that he mimi Proven being more free than the Republican | could enjoy any t would ac-| security to those who deal with " ‘ig “i irty ee id bo Fils ewncg En = crue, while = would po be| But as a matter of fact, the banks will, aor ‘tare eed os tamerats mai . A - | ase oa poi Cpe fle nie a acy | baka aso Rand tat Sah — ourselv nm amount New York, Sept. 25—The alleged post-| which the national banks shall be re-|shall be invested in the business, law, for it bestows its bless-: a