Jasper County Democrat, Volume 11, Number 37, Rensselaer, Jasper County, 10 October 1908 — PROTECTING DEPOSITS IN BANKS. [ARTICLE]

PROTECTING DEPOSITS IN BANKS.

An Ohio Example of Taft's Position •nd Oklahoma's Proof of Bryan's Position. ( One of the planks of the Denver platform favors guaranteed bank deposits. Mr. Bryan addressed the Ohio legislature in February favoring guaranteed deposits. Former Governor Herrick subsequently addressed the legislature in reply to Mr. Bryan, opposing any such protection for banks and bank depositors. Mr. Taft, in his speech of acceptance, denounced the plank of the Denver platform, which declares for a national law for banks similar to the Oklahoma law for state banks, thereby coinciding in the views of Mr. Herrick and opposing the views of Mr. Bryan. Below are two dispatches showing what Mr Bryan stands for and what Mr. Taft stands for: \ THE OHIO WAY. Cleveland, 0., Aug. 17.—The creditors’ committee, charged with an investigation of the affairs of the defunct Farmers and Merchants’ bank, the cashier of which, Henry W. Gazell, is under arrest charged with embezzlement, tonight reported that the depositors will be forced to shoulder • loss of $415,000. The report, made ip a meeting of 2,800 depositors, charged the deficit to Gasoil, alleging his speculations proved disastrous to the institution. TAFT STANDS FOR THIS. THE OKLAHOMA WAY. Guthrie, Okla., May 21.—Within one hour from the time H. H. Smock, Oklahoma banking commission, had taken charge of the International Bank of Colgate he had authority to pay the depositors in full, though the bank’s cash and available funds tn other banks fell $22,000 short of the total amount of deposits. The commissioner was able to do this uni der the operation of the new banking I law, and this is the first time it has been called into use. BRYAN STANDS FOR THiS. t