The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1908-08-28
'Bl | \ ADVICE Il I! ]!
10 REPUBLICANS
TgLLs TAFT MGN or KANSAS
Il 70 voTe DEMOCRATIC TICKET.
HE SPEAKS ON BANKS
Delivers Lengthy Address In Topeka,
il which he Favors the Guaranty Of
Bank Deposits ~ Levying Z Tax Y
Which Depositors Must Pay.

Es&&FfSN HSEHa aANfaIA .rGGH
Topeka, Aug. 27.-Before an audi
eace which filed the auditorium te
overlooking. w. J. Bryan. Democratic
candidate for president tonight spoke
on the subject Of the guaranty Of de
pssits. Previous to this, he delivered
three other addresses, two from the
veranda OF the hotel and the third at
Garfield Park, where ne attended Z
picnic by the Knights Of Pythias, his
latter theme being Fraternity" The
candidate and his party arrived at I
o'clock and were at once taken In
hand by = reception committee Of lead
ing Democrats and conducted to the
hotel In automobiles. "A great crowd
greeted MI. Bryan at the station and
at the hotel.
He took up the advantages of the
guaranty system and then answered
the objections made to it by Mr. Taft
andssothers. He began by asking why
the depositor shouldsbe unsecured,
when the national government de-
mlands security Of any bank with which
II deposited money. He pointed out
that the choice was between the postal
sayings bank and the guaranty bank
and accused MI. TAFT as favoring an
Unnecessary extension of the sphere
OF government In advocating the post
al savings bank instead Of guaranty
Of bank deposits. Mr.. Bryan declar-
ed that he preferred. the guaranty Of
deposits. which would allow the banks
to attend the banking business and yet
compel them to give their .depositors
the necessary security. Upon the
conclusion Of the prepared speech Mr..
Bryan said:
q asked Mr.. B~riedenthal. a banker
of Kansas City, to make inquiry
among the bankers OF Kansas and es-
certain what proportion Of them fav-
ored the guaranty law. I learned that
OF the bankers that had expressed
themselves on the subject. about
three-fourths OF them favored a guar
,anty law and one-fourth were against
it,,
This is an excellent showing.
Among the depositors there is no OPP
position at all and it is evident that
the Kansas bankers recognize first,
that something must be done and sec
ond, that the guaranteed bank is bot
ter than the postal savings bank.
Il also inquired Of Governor Haskell
in regard to the number Of national
banks which have surrendered their
charters and become state banks In
order to have the benefit of the guar
anty system. / have a telegram from
him saying that four national banks
have already made the change and
are operating under the state charters.
This is conclusive proof that the law
is q success. A national charter Is
supposed to have some advantages
over q state charter and the benefits
OF the guaranty must be admitted
when twenty national banks will in
a short time change from the national
system to the state system in order to
give their depositors the advantage
furnished by the guaranty system.
Since the preparation OF my speech
on the subject, the Republicans of
Kansas have held q convention and
adopted q state plank. The plank OF
guaranty of banks Is a recommends
ton Of security. but the plank is SO
Worded as to be practically useless so
far as the protection OF the people Is
concerned. The Republicans propose
to have the state banks to mutually
guaranty deposits.
aBut that Is not enough. Suppose
that the banks mutually agree not to
do It. Must. the depositors be left I'M
secured? The Kansas Republican
platform also requests the Republic
can candidates for congress and SEN
ate to favor . Law on the aiding Of the
national banks to participate in the
proposed mutual and voluntary sys-
TEN. Butawhat chance is there of Sc
curing such a law when the Republic
can convention refused to pay any at
tention to the subject and when the
Republican candidate O the