The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-08-28


the bankers of Kansas, and ascertain
what proportion of them favored the
guaranty law. l learned that of the
bankers that had expressed themselves
on this subject, about three-fourths OF
them favored a guaranty law and one
iourth opposed it. This is an excel
lent showing Among the depositors
tnere is no opposition at all, and 1t is
evident that the Kansas bankers recog-
nlze, nrst, that something must be
done, and. second that the guaranteed
oank is better than the postal savings
oank. l also inquired of Governor Has
kell In regard to the number of nation
al banks which have surrendered their
charters and become state banks in
order TO have the benefits of the guar
anty system. 1 have telegram from
MIN saying that four national banks
nave already made the change and are
operating under the state bank laws.
and that 10 other national banks have
applied for state charters. This is con-
elusive proof that the Oklahoma law
is a success. A national charter is sup
posed TO have some advantages over
state charter, and >se benefits of the
guaranty law must De admitted, when
20 national banks will in so short
time change from the national system
70 the state system in order to give
their depositors the advantages fur
nlshed by the guaranty system.
The Republican Plank.
Since the preparation of my speech
on this subject, the Republicans of
Kansas have held a convention and
adopted a state platform. The plank
on the guaranty of banks is a recogni
ton OF the necessity for security, but
the plank Is so worded as to be practi-
cally useless so far as the protection
or the people is concerned. The Re
publicans propose to enable the state
banks to mutually and voluntarily
guarantee deposits. But that is not
enough. Suppose that the banks mu
tually agreed not to do it, Must the
depositor be left insecure?
The Kansas Republican platform
also requests the Republican candl-
dates for congress and United States
senate to favor a law in aiding ma
tional bank to participate in the pro-
posed mutual and voluntary system.
But what chance is there of securing
such a law when the Republican ma
tional convention refuses to pay any
attention to the subject and when the
Republican candidate opposes the
whole principle of guaranty? Mr.. Taft's
denunciation of the guaranty system Is
so sweeping that no disinterested per-
son can for a moment believe that he
will either encourage or permit a law
enabling national banks to participate
in state systems. What the people
need is a system where both state
banks and national banks will be COM
PEELED to guarantee depositors. and
only a Democratic victory can secure
this reform. With a Democratic presi-
dent and a Democratic congress, 1t VIII
be easy to secure the adoption of
system which will make both state and
national banks secure.
Where Platforms Agree.
And speaking of platforms, I am
glad to call attention to the fact that
the Republican platform adopted in
Kansas indorses the / amocratic ma
tional platform on two important
questions. First. It favors the election
of senators by direct vote of the peo-
pie. a reform which the Republican ma
tional convention rejected by vote of
seven to one, and which Mr.. Taft has
never advocated but once and that
only in a half-hearted way. In his
notification speech he said that per-
sonally he was inclined to favor such
a law, but 1t requires more than
mere inclination toward the law to Sc
cure such a reform.
Another plank indorsing the Demo-
cratic platform is to be found in the
condemnation Of the present rules of
the house and in the demand for a
modification of the rules. This is the
position taken by the Democratic ma
tional convention, and it is gratifying
to know that the Republicans of Kan
sas have supported us in the position
taken. But what shall we say of the
condemnation of the vice presidential
candidate, Sherman? While Mr.. Sher-
mans name is not mentioned, he is so
prominently connected with the pres
ent rules of the house, that the Re-
publican platform on this subject can
not be construed otherwise than as a
denunciation of him.
Here we have the Republicans of
Kansas heartily indorsing the nomina-
ton of Mr. Taft and Mr.. Sherman
even commencing the speech of ac-
ceptance of Mr.. Taft-while the con-
vention proceeds TO condemn Mr..
Taft's position on the guaranty of
banks. and Mr.. Sherman's position on
the subject of rules. There is no doubt
that there is a strong reform senti-
ment among the Republicans of KAN
sas, and the best way that they can
give expressionn to it is to vote for
the Democratic electors and thus Sc
cure a national administration in har-
mony with reform ideas and then
elect Democratic state ticket which
stands for reform, a Democratic legiS-
lature which will not only stand for the
guaranty law, but elect Mr.. Farrelly to
vote for reforms in the United States
senate, and then the Republicans of
Kansas ought to complete their work
by electing Democratic members of
congress to help reform the rules of
the house and help to carry out the
reforms pledged in the Democratic
platform