River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1908-10-01

the modification may be stated as fol.
lows: THAT where a general service
to the public cannot be well dis
charged by a private enterprise. and
can be very effectively and economic.
ally discharged by the government. the
government should undertake It'll The
postal savings bank comes exactly
within this principle. If there were
savings banks in all the country as
numerous and as easy of access as
they are in Massachusetts, in the New
England states and in New York. it
might be said that the postal savings
bank was an invasion of territory
properly occupied by private enter
prises. although even then it could be
pointed out, as the experience in other
countries shows, that the function per-
formed by the postal savings banks is
much more comprehensive than that
of the ordinary savings banks. But
when it is considered that in only IL
of 35 states are there saving bank IA
cilities. when it is known that in the
middle West, east of the Rocky Noun
tains. the average distance from any
postoffice to a bank OF any kind is 33
miles. and west of the Rockies is SIS
miles. it can be readily understood
that private enterprise does not supply
the need of savings banks which in or
der to furnish a motive and opportun-
ity for thrift and savings should be
easy of access to the class whose well
fare it is sought thereby to improve.
OF the $3,5OO,O00,000 deposits in saw
ings banks, 33 per cent is in New
England, SO per cent in New York, 81
per cent in Pennsylvania, Ohio, Illi-
nois, Iowa and California, leaving but
8 per cent of the total in other states.
"This postal savings bank system,
however, does not meet the unqualified
approval of the Democratic party. Ut
has not the vote-catching quality and
involves only the old-fashioned gradual
movement toward better things by
means of industry and thrift and saw
ing) The party under its present
leadership must have something which
offers a short cut to reform at the cost
of the honest and the Industrious.
LET us now analyZe the remedy pro-
posed by Mr.. Bryan and the Democrat
ic party. It certainly proposes to make
the conservative banker pay for the
negligence, carelessness, lack of conf
dence or dishonesty of the falling
banker. It takes from one man with
out fault on his part money to pay for
the default of another
"That I submit is socialistic in the
extreme, and so violates all equitable
principles that the remedy should be
condemned for this reason. If the
fault or misfortune of one banker is
to be paid for by his colleague who is
without fault, there is not the slight
est reason why all insurance compan-
les. life and fire, should not be COM
PEELED to guarantee the losses of all
companies, and it is difficult in princi-
pie to distinguish between such a
proposition and proposition that all
the farmers of the country should
guarantee each others crops, so as to
save each farmer from the drought or
blight that may come to his particular
district in the vicissitudes of farm.
ing.
"To say as Mr.. Bryan does, that the
postal savings bank system lis more
socialistic than this is to give very
curious definition to socialism. Postal
savings banks take no mans money
to make up for the default of another.
1t merely uses an arm of the govern
ment, fully organized and well adapt
ed to the purpose to perform a much
needed business function which is not
and cannot be discharged by private
enterprises. Whereas the enforced
guaranty plan takes out of one mans
pocket engaged in the business or
banking, money to pay for another
mans default. That is pure social
ism.
Expenses Not imposition.
Mr.. Bryan suggests the expenses
connected with the examination of
banks is an imposition Of burden on
one man for the default of another.
There is no analogy whatever between
the reasonable requirements for the
examination of all banks and the TAX
ing out of one mans pocket money to
pay for the ascertained fault Of an
other. If there were but one banker
and he man of known probity and OF
the highest character, public policy
would require an examination of his
bank as thorough as that of any other
bank. Trustees and public officers, no
matter how pure their character or
we'll known their honesty, when they
are subjected to the auditors examin-
alton. have the burden on them to es-
tablish their honesty and correct bust
ness Methods
To those who could not hear Mr.
Taft speak at the Auditorium, the big
event of the rally was the parade from
the Union station when Mr.. Taft and
his party arrived in Minneapolis from
st. Paul.
1t was a picturesque affair with no
details lacking. The red fire, the fam
ing torches, the waving banners and
flags and the campaign music of old
fashioned presidential fights formed
the principal part.
It is probable that there were 1000
men in line and fully 10000 more or
less hidden under sea of umbrellas,
watched the parade escort Mr.. Taft
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