Coeur d'Alene evening press. (Coeur d'Alene, Idaho) 1907-1929, 1908-09-25
PROTECT DEPOSITS
GUARANTEE PLANK ONE or MR.
BRYAN's WINNING CARDS.
The object Lesson In Oklahoma and
Convincing Men that their Savings
In Banks Should be Protected a.
Well 40 Government DepoeIts.

AuC OGmOCEhttC INhtlOual EldlLOEm
favors guaranteed bank deposits; the
Republican platform is silent on that
subject Mr.. Bryan heartily cham.
Dions the plan; Mr.. Taft is strongly
opposed TO 1t.
Mr.. Taft and Guaranteed Deposits.
In his speech OF acceptance Mr.. Taft
puts himself squarely on record as be
Ing opposed to guaranteed deposits
He says: The Democratic platform
recommends a tax upon national
banks and upon such state banks as
may come in, in the nature OF en-
forced insurance to raise a guaranty
fund to pay the depositors of any
bank which fails. The proposal Is
wholly impracticable unless It is to
be accompanied by a complete revo
supervision so close as practically to
create a government bank. II the
proposal were adopted exactly as tho
Democratic platform suggests. it
would bring the whole banking system
Of the country down in ruin"
Why seek to confuse the people on
. simple proposition? We are sup
posed to have Government super
vision OF national banks now Super
vision does not mean a government
bank; It simply means that the ma
tional hank inspectors will do just as
they are expected to do under exist
ing law--make their examination OF
banks thorough and make prompt and
effective correction of any irregularl-
ties discovered So It will be difficult
to brighten the people by the claim
that guaranteed deposits means tho.
rough supervision OF banks, That's
Just exactly what the people want.
II is absurd to say that guaranteed
deposits would bring the whole bank.
Ing system Of the country down to
ruin"
What does guaranteed deposits"
mean? II means that the savings OF
the masses shall be secured so that
when men and women deposit their
hard-earned money in banking insti.
tutions. they need not worry for fear
ness and dishonesty of bank officials.
The Federal Government demands Of
these banks security for the money
u deposits. As a rule state govern
ments and county governments and
municipal governments make similar
requirements. But now that II is pro-
posed that depositors generally shall
have some such assurance for the
safe keeping of their wealth. we are
told by the Republican candidate for
the Presidency that the adoption OF
such a plan would bring the whole
banking system OF the country down
TO ruin"
okiahoma's object Lesson.
Oklahoma has the guaranteed de.
posIt plan and the following Associat.
ed Press dispatch tells of its opera.
ton In the first bank failure since the
Law went into effect:
Guthrie, Okla. May 81. 1909
Within one hour from the time H. H.
smook, Oklahoma banking commits.
kloner. had taken charge OF the In.
lernatlonal Bank of Colgate he had
authority TO pay the depositors in full
though the banks cash and available
furds in other banks fell $4,000 short
OF the total amount Of deposits The
commissioner was enabled TO do this
under the operation OF the new bank
Ing law, and this is the first time It
has teen called into use Under the
operation OF the guaranty banking
law OF Oklahoma a tariff Of cent Is
levied upon the average annual de-
pssits Of the banks, and this money
is used in payment in full of all de-
positors of an lnsolvent state bank.
after the funds have been exhausted. :"
VIII the Banks Answer ThIs9
In addition to the arguments al
ready presented in favor Of the guar.
anteed bank. the following is sub
mitted;
The United States Government re-
euiros deposit OF specific security
when Il deposits money in a national
bank; the state also requires secur.
ity. and the county and city deposits
arc secured either oy bonds or BY the
deposit Of specific securities.
Now the question arises. II the
United States Government, which can
at any time inspect a bank and and
out Just what Il is doing and how its
business Il being conducted. requires
security for its deposits. Why should
not security be given to the depos
itor who cannot examine fer himself
and does not know anything about
the banks sola, y or methodist And
loss 60 the national government, t.
tie state. 10 the county or to the city
would be borne By all the people aud
thus be small upon each one. while
the loss 10 the individual has to b
horne entirely BY himself and ma,
wipe out his entire savings. Is no
tie argument stronger IN favor OF Ii,
protection Of depositoFs than Il is II