The French Broad hustler. [volume] (Hendersonville, N.C.) 1896-1912, 1908-10-29
GUARANTEED BANKS
The Democratic Plan for Securing Bank DepOsitOrs
Simple Practical Method That VIII Secure the De-
positor, Establish Cenfde nee, Prevent Panics and
Keen Money in Circulate n.

The following presentation Of the
guarantee of bank deposits was pre-
pared by Col. l.. B. Arendel, who
spent some time in Oklahoma where
the plan is now in successful operation.
He has Investigated and seen the bene-
ficent effects of its operations, and
presents its advantages and answers
its opponents simply, clearly ana
forcefully:
3 The Democratic party in its plat
form proposes a safe, sound, simple
and economical method of guarantee
ing the bank deposits of the great
mass of individual depositors without
whose money the banking business
a single day. 1t is a practicable, fea-
sible business proposition, the princ1-
pie of which is being applied every
day to almost every phase of business
and commercial life. A cooperative
plan based-on-c common sense, without
frills or necessary friction, a plan that
has riveted the attention and won the
support of thousands and hundreds or
thousands of the brainiest and most
prominent men of all parties, and all
sections Of the country, who realize
the fact that there is growing de-
mand for some practical and effective
metho], the provisions of which will
furnish security to the people who fur
nish nine-te nthS. of the money, upon
which the banks of the country do
business.
The plan proposed by Mr.. Bryan
and embraced in the Denver platform
is simple, sensible, sound. ~
1t provides for q guarantee FUND to
be raised by a. small tax on bank de-
/ posts. to be paid by the banks and
held in the national treasury and to
| be used only for REIN bursting. the
depositors in case a bank should fall
or bank official should squander the
depositor's money, --E--s55
That's all there is in it, Il simply
proposes to guarantee the ,depositor g
money, and if carried into effect 1t
will do it.
Should the Individual depositor be
protected ?. Why not? And why should
the banker be the only person and
the bank the only institution that de-
mand the use of the peoples money
without security?
IF the National Government wants
money, and it frequently does, it viii
give to the man who furnishes the
money United States bonds bearing
interest as security. Not even the
government asks for the peoples
money without security. IF a railroad
company wants your. money it will
give YOU interest bearing bonds Sc
cured by a mortgage on the railroad.
If a cotton mill company wants your
money it viii give You a mortgage on
its mill. If an individual wants your
money he will give you as security
a mortgage on his home with his
Wife's signature attached, and if he
don't pay YOU back, principal and in
terest, the law provides that you may
sell the hoIne and apply the proceeds
to the payment of the debt And when
you come TO think about-it who else
beside the Individual depositor con-
neeted with our banking system are
not protected or insured.
Ask the president of the bank if the
bank building, the furniture and even
the plate glass windows are insured,
ana II he IS prudent man he will
tell you YES. Ask him if the bank of
hcials are required te furnish security
Tor the. faithful performance Of their
duty ana he viii tell You that each
one OF them is required to furnish,
GOOD anu sufhcient bonds for this pur-
pose. Nor IS this requirement. regard
ed as a reflection upon the bankers
character or ability. Ask him if the
United ll4 States government or the State
OF North Carolina exacts security for
t l5l deposits they carry IN his bank
"a S.l ne VIII tell you yes. Ask him #
ny Keeps MS own life insured and he
vii most likely tell YOU yes. And
MANY OF them viii tell You that they
Ga[Ey burglary insurance and YOU,
~ Mguto naturaily conclude that every
f Iiitz5s ana everybody around that
t nsI AK was prats'cts.d and insured. Hut
= = sou VIII ask hiol. who furnishes the
iiItoiley upon VIII, Il t'la bank does.
!. '0siiiSss and makes l.. ...;e @e he will