The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1908-12-09

bhhhillb niaiAulious.
"Seconl We should know that the
Sc 'ings of the masses In all the states
are invested in specified securities
OF conservative character and not
used fcr speculative purposes whicn
invaribly leads to an unhealthy condl-
tion. disaster and untolI misfortune
lihls aihtCSbeidesirci en1 can only
re secured throughout the United
States by a uniform supervision of all
commercial banks, which. during the
past few years, have been receiving
savings accounts and using them for
commercial and speculative purposes
when such accounts should be confin.
ed to conservative Investments.
Third: During the last twenty
years & distinctly new phase of the
banking business has developed enol'-
mously in the United States known
as the trust company business. All
trust funds should be segregated from
the commercial accounts, and not d.
vertel b. scheming spectators TO the
promotion OF their enterprises there.
by developing unhealthy conditions.
which in turn breed and preciptate
panlcs. Such proper and uniform
administration of all trusts can only
be secured by the application uf sound
principles through a uniform system:
an this is essential, since the whole
banking fabric of the country may be
thrown Into utter confusion by loose
methods, abusive trusts and especial
~ BY dishonesty in any single city, as
we have lately learned through sad
ana serious experience. We haye
jus. had lesson which ought not to
be forgotten nCT that We have learn.
ed II SO recently, and at so great cost.
The welfare o. the people Il The
supreme law" or giving It a b.oader
Interpretation the protection Of all Is
the supreme law of the land. This
all does not mean the people of the
city or the state where she falling
bank Is located but rather the whole
people from the Atlantic 10 the Pael.
iic from Canada to the Gulf indeed
II includes all those who may be az
ieoied directly or lniirectly.
These perils to our whole com.
mcrcial world must be removed. How2
Precisely as fear is quelled by the as
sociation OF all the banks IN q city IN
time of impending or threatening
danger 1Re Immediate aud over.
whelming thought Is th9t each bank
startling alone, all OF them must fail;
Dut taat all Of them unltei, no one OF
them can fail. This Is the American
ilea of federation united we stand
ana ilvidel we fall
The fact that all Of our banks are
di@.asociatad. separated and unrela.
ted, subjects the business OF the whole
country, our laborers, our manufac.
turers, our merchants-lnleej all
( business Interests of whatevG. kinl--
70 the ever lurking danger in the
! failure OF even tee weakest OF them
since it may fo- some reason. extend
Us influence until panic con litons
really prevail. Immediately All
-epositors run upon the banks, and ali
the Oanks run upon each other The
banks on the one hand demand thei
balances, the banks holding the bal
onces on the other hand refuse i,
pay them which Is no less run on
their part simply because they haze
possession. For their re9usal 10 ia,
reshlt IA completely breaking icxi
- NtANAtAtAN N'if IftHA 81 , aaliN NlNI ~
breaking up all normal con
ditions, and terminates in loss i'm
measurable AM sun ing nlescrlb
able.
The problem before the people O
the Unitel sta.es Is peculiarly ou
Cwn and cannot be solved By simpll
aoipg some other n-"~n Wp par-
s!gay our own conditions and vii
sfsp ssfully solve the greatest prob
ltoH noR confronting tne wbOe on.
lized word only by the application 4
our oSl peculiar conditions OF thosi
fundamental principles which are 40
solutely uherripg ~ their operation.
TO Icserve and maintain the prin
c'Dle cf indiv.lUal hanking which I
70 risingiy necullr to taa Upite
Si4tes AMI al the same time secur
that strength ami protection than 4
essential 10 absolute confidence and a
in aregnabie defense 10 America
commerce We must accomplish thre
things
ffs...-t. -. i n .-. &C., -