The Robesonian. [volume] (Lumberton, N.C.) 1870-current, 1908-10-29

Tie following presentation Of the
guarantee of bank deposits was pre-
pared by Col. +. =. Arendell, who
spent some time in oklahoma, where
the plan is now in successful operation.
He has Investigated and seen the bene--
ficent effects of its operations, and
presents its advantages and answers
its opponents simply, clearly ana
forcefully:
The Democratic party in its plat
form proposes d safe, sound, simple
and economical method of guarantee
ing the bank deposits Of the great
mass of individual depositOrs without
whose money the banking business
of this country could not survive for
a single day. 1t is a practicable, fea-
Siblc business proposition, the princl-
pie of which is being applied every
! day to almost every phase of business
| and commercial life. a cooperative
! plan based on common sense, without
| frills or necessary friction, plan that
| has riVeted the attention and won the
| support of thousands and hundreds OF
! thousands of the brainieSt and most
| prominent men Of all parties, and all
| sections of the country, who reallze
| the fact that there is growing de-
| mand for some practical and effective
| method, the provisions of which sill
| furnish security to the people who fur
| nish nine-tenths of the money upon
L which the banks of the country dc
II business.
The plan proposed by Mr. Bryan
and embraced in the Denver platform
is simple, sensible, sound.
1t provides for guarantee fund Il
be raised by d small tax on bank de
posts. t. be paid by the banks anC
held in the national treasury, and t.
be used only for re-imburslng th'
depOSitOrs in case a bank should fail
or bank official should Squ5tnder th'
depOsitor'S money.
That's all there is in it. 1t Simpl,
proposes to guarantee the depOsitOr,
money. ANA if carried into effect i
will do it.
Should ,the individual depositor b.
| protected? Why not? And why SHOULD
the banker be the only person an
the bank the only institution that de
mand the use Of the peoples none
without security?
IL the National Government want
money, and it frequently does, it vii
give to the man who furnishes tn
money United States bonds bearipi
interest as security. Not even tn
government asks for the people
money without security. If railroa
company wants your money 1t WI
give you interest bearing bonds sc
Toured by a mortgage on the railroad
If q cotton mill company wants you
money it will give you q mortgage OF
its mill. If an individual wants you
money he will give you as securit
! a mortgage on his home with n
wifc's signature attached, and if II
don't pay you back, principal and in
terest, the law provides that you ma
sell the home and apply the proceed
to the payment of the debt. And whel
you come to think about it who els
beside the individual depositor con
nected with our banking system ar
not protected or insured.
Ask the president of the bank if tn
bank building, the furniture and eve
the plate glass windows are insured
and it he is Il prudent man he Wi
tell YOU YES. Ask him if the bank of
icials are required to furnish seCurit
for the faithful performance OF thei
duty and he will tell you that cac
one of them is required to furnis
good ard sufficient bonds for this pur
pose. Nor is this requirement regard
ed as reflection upon tho banker
character or ability. Ask him if tn
United States government or the stat
OF North Carolina eXacts security fC
the deposits they carry in his ban
land he will tell YOU yes Ask him
ne Keeps his own life insured and h
Will most likely tell YOU yes An
many of them Will tell you that the
carry burglar insurance and yo
would natural, conclude that every
thing and "E..r> body around tn;
bank was ul"j..,t,r aud insured b
al you Will asN g.. Who furnishes II
money upon vii. d. tank do;
business ana mnj,.- .... he wi