Waterbury evening Democrat., 1908-10-26
EASILY UNDERSTOOD
MT. Bryan Shove Why the In. dividuaI Favors Protection
 of Bank Deposits.
MATTER OF 1HTELL1eEHCE
Banks Should Attend to the Banking Business and Not tho
 Government.

the protection of bank deposits. Thou sands and thousands of republicans will vote for Mir. Bryan on account Of this one issue, which he has presented so clearly to the people of the nation.
 In a recent speech MT. Bryan pre- sented this issue in simple and most wH. He said:
 "Of the many policies proposed in our platform, the protection of bank depositors is the simplest and most easily understood. Why, my friends, this question is so easily understood that suppose there is not a person in this audience who is not able to understand it. I do not mean that every one, everywhere, can understand 1t. l draw the line here: When every person reaches the period of intel lectual development, where he is able to see that when man puts his money in the bank he ought to be able to get 1t again, he ought to have intelligence enough to understand this subject; but until he gets to this point I do not know how to reach him. take 1t for granted. however, that you are all sufficiently advanced to be able to understand that when you put your money in bank you ought to be able to get 1t out again. Now, my friends, there are just two questions to be con sidered in this matter. One of these have given you. The other question is, who must make it secure? Our position is that as the banks make their profits out of the peoples money the bankers ought to give the insur- ance the people require. Now, had supposed that that was self evident truth and that it would not be denied.
 T have made no speech without dis cussing the guaranty of bank deposits in all parts of the country. After l had made my speech in Baltimore, ex. blaming our system and presenting our arguments in support of it, my atten ton was called to an advertisement in one of the papers In my speech had said that you could insure your house, you could insure your life, you could insure your buggy or your barn, but that you could not insure your money. And In this advertisement my Ian. guage was quoted and the advertise ment went on to say that 1 was mis- taken, for certain fidelity company was prepared to insure deposits. And then I found out how they do it down there. You put your money in bank, and then go and get somebody to in- sure it so that you can get it out of the bank again. I believe the time has come to compel all the banks to stand back of the banks and make good the presumption upon which you deposit your money in the bank.
 Now, my friends, you may ask if the banks are not now sufficiently se- cured. That is what the bankers say. They will even tell you that only occa- sionally bank fails, but the trouble is that we cannot tell in advance which bank is going to fall. Look at the no tice they hang up. Does 1t say. this bank will fail9 No, the notice says this bank is closed and If bankers follow out this plan I will agree not to urge this fnsuring of deposits. Let the bank give notice three months in advance of failure so the people can get their money out before the failure
 Do you think the banks are suffi- ciently secure now? The postmaster general says. in his report in favor of the postal savings bank, that we are sending millions of dollars to Europe to be deposited in government say. ings banks there, and the people who send their money there would rather send it across an ocean three thousand miles wide than to risk the banks of this country. say to you that we ought to make our banks here so se- cure that money will not be driven out of the United States to find a safe place of deposit. That money which is driven to Europe ought to be kept here and used in the business of this coun- try. Not only does money go to Eu- rope, but money goes into hiding, and this Is about the time of year when we discover some of 1t. You will see in the paper every once in a while that Mrs. So and So for the first time this fall made fire and was mortified to find that her husband. without her knowledge. had been using 1t as a bank. A man in New York said last fall. when the panic was on, that a billion dollars was in hiding under car pets. I do not know whether that estimate is too high or too low, but know this, that if I were a banker I would be ashamed to have an old rag carpet running rivalry with me as a safety deposit vault, in time of danger. "If any man says that the banks are sufficiently secure I will remind him that there is not national bank in the United States that can get dollar pf Uncle Sam's money without putting up security The state demands se- curity: the county demands security;
 the city demands security; and each village demands security; and the fra I ternal orders are now demanding se- curity, and believe the time has come
 when the farmer. the merchant and the laboring man should have security when they put their money in a bank.
 "In Oklahoma they have had this
 plan in operation for now some six
 months. learned of one failure there
 and in forty-two minutes after the
 bank suspended. the man in charge
 had an order from the government to
 pay every depositor in full. and the I business went on without interruption.
 And when he telephoned out to the
 farmers and said to them, The bank has suspended. come in and get your i money they answered, We are busy
 with the cr1ps now, we win be in in a
 few days fs 1t the way you do here | an your state when a bank gets shaky1