Goldsboro weekly argus., 1908-10-29

The following presentation of the
guarantee of bank deposits was pre-
pared by Col. T. B. Arendell, 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, vanu
presents it's advantages and answers
it's opponents simply. clearly ana
forcefu1ly:
The Democratic party in its plat
form proposes q 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
of this country could not survive TOR
a single day. It is a practicable, Tea
sib1e business proposition, the prlnc1-
pie of which is being applied every
day to almost every phase OF business
and commercial life. A cooperative
plan based on common sense, WlliIout ~ :
frills or necessary friction, a plan that
has riyeted the attention and Won the
support of thousands and hundreds OF
thousands of the bralnlest ana moSI
prominent men of all parties, ana all
sections of the country, who reallZe
the fact that there is a growing de-
mand for some practical and effective
method, the provisions OF which olli
furnish security to the people VINO IuI :
nish nine-tenths of the money upon
which the banks OF the country uo
business.
The plan proposed by Mr.. Bryan
and embraced in the Denver platform
is simple, sensible, sound.
1t provides for a guarantee tund TO
be raised by a small tax on bank de-
| posits. to be paid by the banks ana
| held in the national treasury, ana 70
be used only for re-imbursing the
| depositors in case bank shouIo 1ailn H.
! or a bank official Shouiu SqudhooA eii
| money.
| That's all there is in it. 1t simply
| proposes to guarantee the deposltor
| money and if carried into erect Ii
| Will do it.
| sho,,ld the individual depositor be
! Drotected? Whv not? And why shoulo
| the banker be the only person ano
! the bank the only institution that ue
! nland the use of the peoples money
| without security?
money, and it frequently does, II VIII VIII
! give to the man who furnishes Tue
money United States bonds pearius
interest as security. NOT even ,,e
/ government asks for the people
! naoney without security. If railroad
lcon1pany wants your money II VIII
give YOU interest bearing BONDS Sc
cured by a mortgage on the faliioau.
IF a cotton mill company wants your
money il will give you mortgage on
Its mill If an individual wants your
money he will give you as security
| a mortgage on his home with h.s
/ wifa,s signature attached, and II ne
don't pay you back, principal ana IN
terest the law provides that you may
sell the home and apply the proceeds
/ to the payment of the debt. And When
YOU come to think about 1T VINO etss
1 beside the individual depositor con
Injected with our banking system are
mot protected or insured.
Ask the president of the bank II the
bank building, the furniture and ever
the plate glass windows are insured
Iand if he is a prudent man he VIII
tell YOU yes Ask him if the bank of
IficiaIs are required to furnish security
flor the faithful performance of then
tduty and he will tell you that each
4 one of them is required to furnish
4 good and sufficient bonds for this pur
pose Nor is this requirement regard
LED as a reflection upon the banker
lcharacter or ability Ask him ii thu
limited States government or the STATE
/ of North Carolina exacts security fol
tine deposits they carry in his banl
land he will tell you yes. Ask him l
a he keeps his own life insured and h
Twill most likely tell you yes. Ant
5E many of them will tell you that the.
carry burglary insurance and Vol
would naturally cfanclude that every
timing and evershetiy around tha
Il bank was projects md insured. BM
IIf you will ask linn, Is no furnishes th
s money u Ipofl which tHfn hank doe