Evening star., 1908-01-28
MR.. BRYAN'S BUSY DAY
Spent All the Time Talking
With Democrats.
NEWLANDS GIVES DINNER
One-Half Democratic Membership of
Senate.
THE FINANCIAL SITUATION
He Dictated an Interview Setting
Forth Briefly His Views on the
Money Condition.
One Half Democratic Membership of
Senate.
THE FINANCIAL SITUATION

Any democratic gent desirous of in
| forming Mr.. BRYAN that he hadn't oughtcr
run for the presidency? Walk right up.
| now's your chance: Mr. Bryan is ready
TO take YOU all on. one down, come
tother. No? Nothn' doin'.
Mr.. Bryan spent all of Yesterday and
up to bedtime last night hobnobbing
with prominent democrats. He remained
at the Capitol for the better part of the
day and in the evening attended a dinner
given in his honor by Senator Newlands.
| at the latter's country home, Woodley. to
which were invited one-half the demo-
cratic membership of the Senate. \ din
ner will be given tonight to be attended
| by the other democratic senator's
The guests last night We're Senators
Bacon, Bailey. Bankhead. Bryan. Clarke,
Clay. Culberson. Daniel. jeff Davis, Fos-
| ter. Frazier. Johnston. Latimer and Nc
Creary. Senator Bailey was not present
Democratic policies of legislation. rather
| than politics. formed the principal topic
| of discussion and Mr.. Bryan was more of
d listener than talker.
Mr. Bryan on Finance.
Mr.. Bryan yesterday dictated the follow
ing interview setting forth briefly his
views on the financial situation:
Lack of public confidence is what
drives money out of circulation Restore
public confidence, and money returns to
its accustomed channels For lack Of
confidence the best remedy is insurance
of bank deposits. and | have urged upon
the various states and Congress the pas
sage of some measure similar to the law
adopted by Oklahoma. This provides for
the creation of guaranty fund by as
Sessments upon banks in proportion to
their deposits, and authorizes the bank
ing board to make such assessments from
time to time as may be necessary to re-
store the guaranty fund when it is low
cred by the payment of money 10 de-
positors of failed banks.
This permits the resources of all the
banks to be the resources of each bank,
and insures each depositor against loss.
The Oklahoma statute permits national
banks to take advantage of the state law
and a national law should permit state
banks to come in under the provisions of
that law in states which have no guar
anty systems.
LAS to an elastic currency, l thing pro-
vision could be made for sufficient elias
tlclty in times of emergency by a law pro-
viding for the issue of United States
notes. such notes to be loaned by the
government to the banks upon adequate
security and at rate of interest which
would compel the retirement of the notes
when the emergency is over. ! suppose
nearly all members of Congress and SEN
ators favor some provision for an emer-
gency currency.
The democrats a rule favor a sys-
tenn under which the government will is
sue and control the value of emergency
currency, while most republicans favor
some system under which it would be
issued and controlled by the banks. his
presents the point in dispute between the
two parties. The high fnanciers have
been largely responsible for the present
panic by reason of their reckless meth
ods: and / satisfied that a large ma
jority of the people would prefer to risk
the government rather than risk these
men. Somebody must decide upon the
needs of the people. and SO far as | am
concerned | prefer that the concessions
be with the public officers responsible to
the public. rather than with private in
dviduals who would be guided by lneir
own interests instead of by the interests
of the public