Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1908-01-13
William J. Bryan Plan Considered by Charles
n. CreWdSOn
Author of "Tales of the Road on the Subject of
Government Guarantee of Bank Deposit
ors. The Plan Plainly Outlined so
That All May Understand

Charles n. CreWdsOn, author of
Tales of the Road, has this to say
about the Bryan plan to have the
United States government guarantee
payment of deposits in national
banks:
The Great Power lets the sun
shine; it let's the rain fall; it sprouts
the seed planted in the earth. Man
wants to work A few financiers are
now saying, man must stop work and
that the sun must shine and the
rains must fall upon many unplowed
fields, that when the grain be har-
vested the people shall have no mon
ey for their crops, and that many
men who want to work must stop
work and that every business man
an "'v all bankers themselves
must sutrer.
Mr.. Bryan can stand pat on i'm
perialism, tariff and the trusts, but
the present livest question before the
American people and the question
of more Importance to them than any
other question in our nations his
tory is: How shall the government
provide money for the people?
The plan Mr.. Bryan suggested
seems to me-a business mana
sane, definite solution of this ques-
tiOn.
Mr.. Bryan's plan as I understand
it is this:
First-The United States govern
ment shall guarantee that every
man who puts his money in nation
al bank can go to that bank and
get his money when he wants to.
SecOnd-That not the stockhold.
ers, but the depositors shall, upon
demand, have the return of theil
money guaranteed by the govern
ment.
Third-That the government shall
lightly tax the national banks tc
pay losses brought about by nation
al bank failures.
Fourth-That this tax charge
which would doubtless be less than
one-tenth of one per cent per an
mum of their average deposits, should
be used for two purposes: First, tc
pay for thorough examination of the
national banks, so that the losses to
the government and to sound banks
would be as little as possible; and
second, in case of a national bank
failure to at once pay the depositors
in that bank, their money in full.
Fifth-To punish severely bank
examiners and bankers themselves,
who might be dishonest.
Benefits.
This would benefit:
First-All people, because it would
give them safe place to put their
money; because it would keep all
money in circulation; because, the
people having safe banks in which
to put their money, would not lock
it up or bury it in the ground.
Second-This would benefit all
business men in all kinds of business
because, when they were doing a
sound business and had legitimate
assets, they could at all times borrow
a reasonable amount from the banks.
This plan would give stability to
business and prevent either rapid
increase or decrease in prices.
Third-This plan would benefit
the manufacturer, because the
wholesale merchants, feeling that
their orders would not be cut off,
factories.
would not cut Off their orders at the
Fourth--It would be good thing
for the wholesale merchants, like
Claflin & Co., of New York, or Mar
shall Field & Co., Of Chicago, or the
Simmons Hardware Co., or the Ham
ilton-Brown Shoe Co., of st. Louis,
or any wholesale dealer in any city,
because the retail merchant could
borrow reasonable amounts from
their local banks, would not be
scared to death about having to pay
the money back on short demand and
would not cut off their orders.
Fifth-It would benefit travelling
men, who work for manufacturers
and wholesale merchants, because