The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-12-30
STAND BY GUNS.
CONTINUED from Page One,

CONTINUED from Page One.)
clined to believe on the whole that the,
are wise. Wall street and the moneye6
| interests of the east which have beer
/ using the banking system of the coun
| or fiction and disturbing the legitimate
business interests in furtherance OF
their speculative schemes, would doubt
| less be solidly arrayed against any ac-
| ton along this line by congress. In my
Judgment no one thing would con-
tribute so much toward the restoration
| OF confidence as a good, carefully
| guarded. depositor's guarantee law. The
most conservative bankers believe this
L do not question the motives and the
conservatism of those who oppose this
proposition, but / do object to those
who favor it being classed as noncon-
servatfves And the business men and
the bankers and the people generally
who favor this plan do so from no dis
trust of the present soundness of Kan
sas banks, and there is no occasion for
such distrust for our banks were never
In sounder condition and never had
so large reserve on hand. They do
so simply to contribute to a permanent
policy in the interest of depositors and
bankers alike that shall forever, as
they believe, prevent a recurrence of
recent troubles and bring out of hiding
the money which timid people nave
boarded. tu--
MIR. Royce's Defense of Proposed Law.
The statement issued by Mr.. Royce
follows:
Without any reference to the ques-
ton of whether there Is a sufficient
emergency to Justify the governor of
this state in calling a special session
of the legislature, I wish to offer a
word In defense of the proposition
to guarantee deposits in the banks of
Kansas against the assault OF even so
disinterested a person as our senior
United States senator. Having given
the subject such study and considera-
ton as l am capab BILE of doing, have
come to the conclusion that the inter-
ests of the bankers in this state, as
well as the interests of the depositors
in banks, will be greatly conserved by
the passage of some law, which will
guarantee the deposits of all money
in the banks in this state.
A regular examination and study of
the quarterly reports of the state
banks in Kansas and of the four called
statements each year and of the re-
port of one personal examination of
each banks in each year for the last
confidence in the solvency of the
banks in this state and almost impels
me to say that 1 do not believe there
is one single dollar of money deposited
in all of the nine hundred banks in
Kansas, that there is any danger of
my faith in the solvency of these in
stitutions and the honesty of the men,
who conduct them, has not in the least
been shaken by the financial disturb
instead. If the public
generally could only know how ,abso-
lutely safe every dollar of money is |
that is deposited in the banks of this
state, there would be no Withdrawals |
Of deposits during such a panic as that |
W met
for the banking inter- |
eSts and for the great commercial in |
terests of our state, the people do not !
all understand the splendid security |
nishes and a great deal of money, |
which ought to be in the banks and |
helping to transact the business of the |
country, is being withheld and in |
many places hidden away out of sight, I
where it neither benefits It's owner nor |
the commercial interests of the count
try.
In addition to the money, which |
mas never yet found its way into the |
banks, there is in the neighborhood
Of ten million dollars in deposits, which
nave been withdrawn from the banks +
Of this state within the last sixty days,
% the detriment of the business in
erests of the country and without any
benefit to those who have withdrawn
t. The proposition to guarantee de-
he interest Of the bank itself and were
t not for the fact that there is diff
;ulty in constructing law, which will
permit deposits in both state and ma
ional banks to be guaranteed at the
anne time, there would be practically
10 opposition to such a measure in
his state. 9sfszcf issrr- =s
Can Stop Wildcat Banking.
No banker in the state has objected, +
10 far as has come to my knowledge,
o this measure on account of the lex-
'ense and SO far as I have been able
o learn the opposition to guarantee
ng deposits comes from the fact that
t will encourage wildcat banking. If
did not believe that ample safe
yards could be thrown around such
law, as would prevent entirely the
'uilding up Of banks by dishonest or
'ocate 1t. But I believe that the wis
ON Of the men, who are engaged in
he business Of banking in Kansas, to-
ether with the good judgment of the
men, who may represent us in the
legislature, will be able to frame a law,
yhich will dispel any such fear.
The financial panic through which j..
re have just passed, has resulted in !,
cry much greater excitement and
nxiety on the part of bankers than it
as from those, who have their mon .
Y deposited in the banks, and this
-orry on the part of the bankers, has /.
OF been to protect their own money .
D much as it has been to take care of
ne men. who had money deposited
18th them and thus preserve the
God name and reputation for honesty, :
hich long years of service has built
p for them. Their fear during all of
he exciting time has been that they
light possibly not be able to pay the
hecks. of their depositors as they were {
and they have gone up and {
own the state in an endeavor to
uild up their cash reserve as high as {
ossible, and If the individual deposit /
,rs, composing the farmers and busf- {
ess men, had not kept their heads 9
etter than many bankers did. a very !