, 1908-03-19
STATE PRESS
Guarantee Of Deposits


In discussing the Oklahoma statute
relating 10 the guarantee of deposits
in banks in that state, the Encampment
Herald says:
1T is toe early 10 make accurate
forecast of all the results that may
spring from this Law. There may be
flaws, weak spots, etc, necessitating
further action on the part of the legis-
%lature, but when this has been attend
ed to and the law is in working shape
1t Is not hard to predict at least a few
of the results.
For one thing, those industries that
are moved by and are dependent upon
local capital will not be subject to the
periodical s~toppages consequent Oh
withdrawal of deposits by an alarmed
public. Banks can use the funds in
their hands without the eyer-prese ut
nightmare of a possible run coming
without warning or reason. Depositors
can sleep nights in the knowledge thar
their accounts will not vanish while
they rest. This security of capital will
so encourage all industries dependent
upon capital hat we may look for an
era of prosperity in Oklahoma such as
will amaze the most sanguine.
1T will encourage the habit of saw
ing. Many a man would put away
some money were he insured against
its loss who now spends II as soon as
he earns 1t. This habit Of thrift and
| sd pfpu will In n fau, Nraar. urnr1y uppn-
Iders. A population Whose Zach indi-
vidual has a bank account will exhibit
developments impossible otherwise.
Capital will come to the state as
under no other conditions. Just watch
Oklahoma a few years, or until this
iaw has been tested and found to work.
Her bank deposits will increase by
leaps and bounds, and banks and busi
ness men all over the United States
will find themselves cashing checks
drawn upon banks in that state. We
may be laughed at for this prediction
but just keep your Eyes open AMI see
If we are speaking truth or not All
through this country-right here in En-.
campment-are people who have a few
hundreds OIL a few thousands of dollars
which they are unable to invest salts.
factorily and this money is in some
bank. Every day We meet men who
have lost a part or all of such deposit
through some bank failure. What will
people do when they know their money
will be absolutely safe in On Oklahoma
bank? What will you do with all mo-
ney that is not tied up in your bust
ness?
ut is certainly apparent to even the
most obtuse that other states must fol
low Oklahoma's lead in this matter, or
see their home banks depleted of ey-
cry dollar that is not necessary for the
transaction of daily business. If the
tenth legislative assembly of the state
of Wyoming would go down 20 poster.
ity as having done something of last
ing benefit for the state, let us have
some such legislation. 1t mas become
apparent that nothing but wishes,
hopes and promise a be expected
from the national congress. Even now,
while statesmen such as Roosevelt an /
Bryan are sounding warnings, the. mil.
iionaires' club is busy forging new fet-
tiers for our financial life. Whom the
gods would destroy and these are
surely mad with m%oney-lust, else would
they see the signs that their destruc.
ton is close at hand. The people are
demanding relief and they will get it
somehow
clhcE ehNpopN,e olo,o-o-