Jasper County Democrat, Volume 11, Number 35, Rensselaer, Jasper County, 29 August 1908 — A MARE’S NEST. [ARTICLE]

A MARE’S NEST.

The Indianapolis Star has found mare’s nest in the Oklahoma guarantee bank deposit law. It says theOklahotna practice has been to invest the guarantee fund in state warrants bearing 3 per cent, but some wise man had discovered that In case of panic and this fund was to be used these warrants could not be instantly -turned into cash. Indeed! But who started the report that this fund was created for panic uses? This fund Is only to be used to pay the deposits of bankers who have gone “democratic” and for no other purpose. Can any one give a valid reason why this fund should not remain in the state treasury in cash just as it comes from the banker? Did any one hear of such an idiotic suggestion as that the $150,000,000 gold reserve in the National Treasury should be invested? Is the 5 per cent redemtion fund that national banks are required to deposit with the U. S. Treasurer at Washington to redeem uncurrent national bank notes, ever invested? The Star will have to think of a much worse objection than this to injure the guarantee bank deposit proposition.