Kansas agitator. [volume] (Garnett, Kan.) 1890-1905, 1897-03-19
FIGURES ON BANKS,
STAInfSTdCS WHICH THE COZ.
ERNMENTDOES GATHER.
Ii Is the Duty uOf the Government to
Rrovide,a Safe Banking system for the
RoOple-5Must Come Ia GOverSi,ient
hanks.

Augusta, Ga, Daily Trioa;iie !
Among the many statistics compiled
and published by the government,
there are none giving an account Of ths
money lost by the depOsitors in Nd
tional banks. During the past few
months a large number OF these iDSGi-
tutions have come to grief, and IN
every case the depositors have lost in
whole Or in part, their deposits. which
no doubt lin many cases represented the
bard-earned savings of poor people
laid by for rainy day.
These bank failures often amount TO
nothing more nor less than downright
stealing. The cashier ,skips, or some
| of the big officials gamble and lose the
| money. III such case the depositors'
money is gene, and there is no redress.
Blood cannot be squeezed ont of tur-
alp, neither can depositOrs be paid out
Of an empty cash box. The criminal
.oned thieves. A starving man who
steals loaf Of bread and a slice of
fish may be put in jail and lie there
for four months before he receives his
sentence, but national bank presi-
dent who CANDLES with trust funds and
loses them. or steals them outright, Is
not treated so harshly.
Sometimes bank failures may be due
to incompetent management, with no
criminal intent. But even this does
not make the injury done the deposition
any less. Their money is lost, and SO
far as the effect of the loss to them Is
concerned, whether it be due to
knave or a fool is the difference be-
tween tweedledee and tweedledum.
With its statistics on cotton and
grain acreage, and meteorological re-
ports, and losses caused by strikes,
and all the other endless tables, 1t does
appear strange that the national bank
failures, their classification between
rascality and incompetency, the num-
Der of depositors swindled and the
amount of their losses, should not be
given to the public.
Such statistics would elucidate one
phase of the national banking system
But perhaps it would make people
think, and the result Of the thinking
would be a demand for protection
against these losses, and that is just
what is not wanted by the powers that
be.
The desire to lay up something for
rainy day, to provide for old age or
possible contingencies, is one of the
distinctions between man and brute
And a way should be provided where
these savings could be deposited with
absolute safety and the positive assur-
ance that what was SO deposited would
surely be paid on demand, subject to no
restrictions and imperilled by no in
competence or rascality on the part
Of the custodians.
The government Is the only agency
which can do this. No private bank
ing system is absolutely safe. Every
private corporate bank is subject to
these chances The national banking
system is national only in that it ap-
plies to every state; it is only system
under which private citizens or cor
porations engage in business. 1t is not
national in the sense that it pledges
the faith of the nation to protect the
depositor.
1t is the duty of the government to
provide such banks. Call it paternal-
ism, if you like; all government is
paternGlism. To assure depositor Of
the safety of his deposit at home is no
more paternalism than to assure him
of protection in a foreign country. 1t
is no more paternalism to protect the
people against thieving bank presi-
dents than against thieving road
agents. We need government banks of
deposit.
Postal savings banks could be estab-
lished in connection with the postal
system without much additional cost
to the government. They would offer
the people absolute security against
loss by knaves or fools. There is no
valid objection against them.
Let us have them.