Jasper County Democrat, Volume 11, Number 25, Rensselaer, Jasper County, 25 July 1908 — GUARANTEED BANK DEPOSITS. [ARTICLE]

GUARANTEED BANK DEPOSITS.

Hon. Thomas R. Marshall, Democratic candidate for governor, addressed the Twelfth district bankers at Fort Wayne, the other day. In an editorial commenting on the address the Fort Wayne Journal-Ga-zette says: “Mr. Marshall’s explanation of the bank guaranty plank of the Democratic platform will appeal to the average voter as a most forceful argument in support of the Democratic national ticket. It appeals particularly to the people of northern Indiana, thousands of whom lost heavily during the past few years by reason of the lack of just such a law as the Democratic platform demands. The government exacts security from the banks for its own deposits, and there is no valid reason why the man who has accumulated a few dollars or the widow or orphan whose modest competence is a sole possession, should not be guaranteed equal protection. And, as Mr. Marshall points out lucidly, the banker as well as the depositor will be a gainer by the enactment of a guaranty law. Unless such a law is passed the government is certain to establish postal savings banks, which will have the honor and faith of the government as an assurance of safety, and once the people are given such depositaries the banks are bound to suffer. A law guaranteeing the security of deposits would maintain mutual confidence between the banker and his clientage, make the depositor secure against loss and insure the banker against loss of patronage caused by lack of confidence.”