The Havre herald. [volume] (Havre, Mont.) 1904-1908, 1908-09-30
DEPOSITS
GUARANTEE PLANK ONE OF Mr..
, BRYAN's WINNING CARDS.
The Object Lesson In Oklahoma and
Convincing Men that their Savings
In Banks Should BIO Protected az
We'll as Government Deposits.

The Democratic National Platform
favors guaranteed bank deposits; tina
Republican platform is silent on that
subject. Mr.. Bryan heartily cham
pions the plan; Mr.. Taft is strongly
opposed to 1t.
MIR. 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 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'
luton In our banking system, with a
supervision SO close as practically to
create government bank. If the
proposal were adopted exactly as the
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 government
bank; 1t simply means that the ma.
tional bank inspectors will do just as
they are expected to do under exist
ing law-make their examination OF
banks thorough and make prompt and
ties discovered. So 1t will be difficult
to frighten the people by the claim
that guaranteed deposits means tho
rough supervision Of banks. That's
Just exactly what the people want
It 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? 1t means that the savings of
the masses shall be secured SO that
when men and women deposit their
hard-earned money in banking insti-
buttons, they need not worry for fear
IL will be lost through the reckless.
ness and dishonesty OF bank officials.
The Federal Government demands OF
these banks security for the money
st 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
cold 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"
Oklahoma's Object Lesson.
Oklahoma has the guaranteed de.
post 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, 1908
Within one hour from the time H. H.
Bmock, Oklahoma banking commits
sioner, had taken charge of the In
ternational Bank of Colgate he had
authority to pay the depositors in full.
though the banks cash and available
funds In other banks fell $22 900 short
Of the total amount OF deposits. The
was enabled to do this
under the operation of the new bank
fng law. and this Is the arst time 1t
has been called into use. Uader the
operation Of the guaranty banking
law Of Oklahoma q tariff OF 1 cent IL
lsvtsd upon the average annual de.