The Birmingham age-herald., 1903-10-04

gument He made a clear explanation of the differences between the substi- tute presented by himself and that pre- sented by MT. Lusk He especially re- ferred 10 the provision in his bill that 15 per cent of deposits must be kept in the bank for the protection of depositors. Without this provision, said Captain Simpson, the banks can SC along with out any surplus, and there Is nc power on the face of earth to stop them until they struck the wall of disaster. The speaker also declared that the Lusk substitute lacked proficiency in so much as it did not give authority for state of ficials to act when the state examiner might report a bank in bad condition.
 Court Lill Amended.
 While MT. Simpson was speaking 8 message from the governor amending the consolidated court for Birmingham was received The governor amended the bill so as to pr ovlde that the state pay $24OO of the salaries of only four Of the judges instead of all seven. as re- quired in the original bill The state supplements the salaries of the first, second, third and fourth assistant judges The bill as amended passed without opposition.
 MT Simpson concluded his speech, de- claring that he thought the substitute presented by him to be better and safer to the depositor than the Lusk substi- tute. He did not want to injure the business of any man, but the legislature could not fail to do what the cpnstitu- tion said it should do.
 When MT. Simpson concluded, MT. Scheussler of Chambers, who is a mem Der of the committee on banking and in- surance, arose to question of personal privilege, and he sent to the clerk a protest signed by Messrs. Peters, Scheus- sler and Byars of the committee to a pro- test by other members filed Wednesday. Mir. Scheusslers protest set out that the members in the discharge of their duty did not desire to conceal anything that had transpired and then gave the facts that MT. Peters had moved to re- port the bill back to the house without recommendation, Mir. Almon offering as a. substitute that it be reported adversely. The Almon substitute was defeated, and the Peters substitute was adopted.
 An aye and nay vote was then taken on the motion to indefinitely postpone the Simpson substitute. resulting in ayes 37, nays 52. Pairs were announced as fol- lows, the first named voting aye and the last no: Lyons and Hall, Warren and Wheeless.
 Mir Lusk secured the floor in opposition to the Simpson substitute, pointing out provisions which he considered wrong. He said that in following after the stlye of the national banking system. the Simpson substitute also followed in the wake of the republican party.
 MT. Handley Makes Strong Speech.
 MT. Handley said he wanted to tell the house something of the banking history in Alabama. He began by relating the re- suit of the state banking system inau- gurated in 1923. The people were now paying interest on s3,OOO,O00 of bonds is- sued to settle up the matter. Besides the people had lost much money, being about the hardest times the people ever knew in this state. Coming up to the present he read a list of sixteen banks that had failed in Alabama within the last twelve years, and In each case the people had suffered big losses. It was the duty of the state to protect its citizens.
 Mr. Hoffman asked MT. Handley if he knew that the Mobile bank which failed had paid more than dollar for dollar when it settled
 No; but what I do know said Col onel Handley, lis that there was a member of the constitutional convention who fought to the last to keep the con stitution from making any reference to this banking bill, and today this man