Jasper County Democrat, Volume 11, Number 29, Rensselaer, Jasper County, 12 September 1908 — BENEFITS OF DEPOSIT GUARANTY [ARTICLE]

BENEFITS OF DEPOSIT GUARANTY

The opponents of the guarantee of bank deposits object to this system on the ground that the honest banker would have to pay a- small premium for the protection of deposits in the hands of dishonest bankers and that the honest banker would derive no benefit from this payment. The actual facts are that the honest banker would derive the greatest benefits from the guarantee of deposits. It is acknowledged that the panic of 1907 was started on its career of devastation by a run on some badly managed banks in New York. This panic spread all over the United States and Western bankers, no matter how “honest,” were compelled to quit making loans. For six months or more they made no money and hardly earned fixed expenses. , It is undeniable that had a guaranty of deposits been in force, the people all over the country would have allowed their money to remain in the banks. The honest banker could have made his usual loans and his general profits for the six months that he made nothing. This gain would have paid him back 100 fold the premiums that he had paid the government. Besides this, the factories would have had the capital to rUn their business and keep our people employed.

Mr. Hearst and his candidate for president, Mr. Hisgen, stopped in Indianapolis last Thursday. After a consultation with Mr. Neal and Mr. Isherwood, they resolved themselves into one state and several congressional convention? and made a few tickets Afterward Hearst made a speech in a theater to a considerable audience — composed mostly of Republicans—who were curious to see what a man who is worth a hundred millions and is the sole proprietor of a whole "party,” looks like. Mr. Hearst put in most of his time abusing Bryan—a fact which will strengthen Mr. Bryan in the estimation of the public. Hearst and his employes boast that they are in the game “to beat Bryan," but the fact that they are against him will cause a large majority of the really decent people to be for him. No Democrat will even think of giving any sort of aid or comfort to such a political ad venturer as Hearst.

Under the Dingley tariff law, which the Republican party made ten years ago for the benefit of the trusts, the cost of living bas Increased 49 per cent. During the same period wages increased only 19 per cent. And since the panic millions of workers have scarcely been able to get enougb work to keep their families from starvation, with the cost of living getting higher all the time. The Democratic party believes that the tariff should be reformed In the interest of the people, but the Republican party believes In revising it in the interest of the trusts —which means to increase the tax.

T. Coleman Du Pont, one of the heads of the powder trust, has been appointed by Mr. Taft's political manager as a member of the national Republican advisory committee. Not oply that,' but Mr. Du Pont has been put in charge of the speakers' bureau of the Republican national committee. Will the speakers who receive their instructions from Du Pont say anything against the trusts?