Jasper County Democrat, Volume 11, Number 35, Rensselaer, Jasper County, 29 August 1908 — GUARANTY DEFENDED [ARTICLE]

GUARANTY DEFENDED

Brykin Speaks In Advocacy of Making Depositors in Banks Absolutely Safe. HIS SEASONS FOR THE SCHEME Thinks It Already a Complete Success in Oklahoma. Declares It Would Benefit All, Including Bankers—Hot Springs’ Farewell to Judge Taft and Family. Topeka. Kan., Aug. 28.—Before nn audience which filled the Auditorium to overflowing \V. J. Bryan spoke on tiie subject of guaranty of bank deposits. Previously he had delivered three other addresses—two from the veranda of tlie hotel and the third at Garfield park, where he attended a picnic by the Knights of Pythias, his latter theme being “Fraternity.” When the Democratic candidate and his party nr rived here they were at once taken in hand by a reception committee composed of leading Democrats of the city and state, and conducted to the hotel in automobiles. A great crowd greeted lln an at the station and at the hotel. Postal Banks on ilw> Guaranty. Bryan in bis Auditorium -speech discussed the bank deposit guaranty question. lie took up the alleged advantages of the guaranty system and re pli' d to the objections made to it by Taft and others. He began by asking why the do|a>sitor should lie left unsecured when the national government demanded security of any bank ■with which it deposited money. He pointed out that the choice was between the postal savings bank and the guaranty bank, ami accused Taft of favoring an unnecessary extension of the sphere of government in advocating the postal savings bank instead of the guaranty hank. Reasons for the Guaranty.

Bryan said that while all the banks were reasonably secure for depositors they were not absolutely so. and added as proof that the president advocate* postal savings banks, and that citizens of foreign birth send million* every year to Europe to deposit if there for safety: that fear of the security Incites many to hide their money—thus withdrawing it from circulation—especially in panic times, and this because depositors are not absolutely secure; that thousands now take out monev orders payable to themselves, with their surplus, getting no interest there on, while the hanks pay interest on deposits. Then he quoted Oklahoma's experience. showing that all the state banks and fifty-four national banks availed themselves of the guaranty plan, and that the guaranteed banks have Increased their deposits more than while those not guaranteed have lost more than $1,000,000. He closed his prepared speech by saying that guaranty would benefit ail classes, including the bankers them■elves.

GIVES GUARANTEE FIGURES

Makes a Little Investigation on His Own Initiative. Upon the conclusion of his prepared speech Bryan said: “I ask Mr. Rreidenthal. a banker of Kansas City, to make Injury among the bankers of Kansas and ascertain what proportion of them favored the guaranty law. I learned that of the banks that had expressed themselves on this subject about three-fourths of them favored a guaranty law and one-fourth opposed it. That is an excellent showing. Among the depositors there Is no opposition at all. and it is evident that the Kansas baukers recognize, first, that something must be-'done, nnd second, that the guaranteed bank Is better than the postal savings bank. I also inquired of Governor Haskell in regard to the number of national banks which have surrendered their (-barters and become state banks in order to have the benefits of the guaranty system. “I have a telegram from him saving that four national banks have already made the chance and are operating under the state bank laws, and that sixteen other national banks have applied for state charters. This is conclusive proof that the Oklahoma law la a success. A national char’er ts supposed to have some advantages over a state charter, and the benefits of the guaranty law must be admitted when twenty national banks will in a abort time chance from the national system to the state system in order to give their depositors the ad\ antages furnished by the guaranty system.” Bryan then took up the Kansas Republican platform which hns a plank on the subject favoring the guaranty ldn«. lie said that the plank does not go far enough, as it only proposes to enable state banks “mentally and voluntarily’’ to guarantee deposits. The Kansas platform' 1 also requests candidates for congress to favor such a law. but Brynnsald that was a mere chance s* the Republican national platform is silent on the subject. “What the peo pie need,” he said, “is a system whereby both state banks and national banks will be compelled to guarantee depositors.” and he concluded that only Democratic victory would secure “what the people need.” Bryan lef here this morning for Llu-

coin 'where ho will arrlvt this afta*■ooa. LOVING CUPS FOB THE TAFTS Judge, Mrs. Taft and Charlie Are Given Farewell GiftsHot Springs, Va„ Aug. 2S.—The three hundred and fifty guests of the Homestead hotel presented Judge Taft, Mrs. Taft and Master Charles Taft, each, with a silver loving cup as a formal farewell expression of their regard The nig hotel family gathered in the bull room, where for an hour Burr Mclntosh lectured and showed lneltfentally a half lnmdred views of Taft in his various occupations and patirnes. taken during his stay of nearly two months in this mountain resort. Speech-making of a lighter vein, interspersed with music, and followed by a rec a ption wherein the candidate and ids family shook the hand of every guest, constituting an evening of goodfellowsliio and animation. Judge Horace 11. Burton, of Tennessee, a long time persona! friend of Judge Taft, presided, and opened the presentation exercises with an expression of the personal interest which had been aroused In the eahdidate ants his family by tlie* daily friendly intercourse in the hotel. Judge Taft, and Col. John C. MeAnerney were escorted to the front while “Dixie” was played, and the colonel, in a most happy vein, presented the eup to the candidate and Taft responded. Mrs. Taft was next brought forward, and received her cup at the hands of Mrs. Luke D. Blackburn. An even dozen little girls in white surrounded Master Charles Taft, and made him the blushing recipient of a miniature loving cup. Judge Taft and iiis family left here today for Athens. where lie will address the slate Grand Army gathering.

WITH TIIE TWO MANAGERS Hltclieoek and Ma<-k Roth on Duty at New York. New York. Aug. 28.—Some of the plans Republican politicians in the south are making in an elTort to in crease the Republican representation In congress from their states were made known to Chairman Hitchcock by visitors from .Virginia, Alabama and Louisiana. The plan for “the invasion of the south” was outlined hv Judge Taft in recent speeches when he expressed the opinion that an effort ought to be made by the Republican national campaign committee to carry close districts, and Hitchcock eoncurs in that view. As a first step toward an effort to restore harmony in the ranks of the Democratic party in New York stat*Ohainmtn Mack conferred with Charles F. Murphy, leader of Tammany Hail. Senator Patrick H. McCarren. of Brooklyn, whose leadership in tha* - borough is threatened by his break with tin- Tammany leader, was at the Hoffman House; but did not visit national headquarters. Mack, however, intimated tiiat he expected to see McCarren within a few days.

SHAW’S SLAP AT BRYAN

Intiniates That the Sage of Fairview Is a Czar Himself. Burlington. Vt„ Aug. 28.—Leslie M. Shaw, ex-secretary of the treasury, and Judge Henry C. Ide, of St. Johnsbury. ex-governor general of the Philippines, were the principal speakers at a Republican rally held in the Strong theater in this city. In the course of his speech Shaw said: “I submit that it 111 becomes a man who brooks no opposition in his domination of a political party to ask the question ’Shall the people ruleV’ It is another example of ‘Stop thief.’ “If the matchless orator nnd ambitious leader of the opposition party were once seated in the White House there would be no further use for congress or court, governor or justice of the peace. Should the people rule? Verily they shall. They had something to say in November. 1896. They were more emphatic in November, 1900. and they will he vocal in November, 1908. The interrogatory raises no Issue unless our opponents intend to change the method by which the people shall rule.”

WORDS‘‘WITH THE BARK ON”

Roosevelt Lays Down the Law Plainly to a Kevenne Official. Buffalo. N. Y.. Aug. 28.—A dispatch from ltatavia gives the following as the text of a telegram received by Archie I>. Sanders, internal revenue collector from Oyster Bay: "Am in formed that notwithstanding my telegram of Aug. 30 you are still actively engaged in manipulating local politics. I wish yon to understand distinctly that this you cannot do, as I shall retain nc one In the service who does not comply with the strict rules of the department nnd my orders with regard to factional contests in the party. If you will not comply with these orders wire yoiir resignation at once. Wire answer immediately.” To this telegram Sanders is said to have replied as follows: “Telegram received Conditions compiled with.”