Omaha daily bee., 1908-05-22
BANKERS DISCUSS GUARANTY
Practically All Of Speakers Of Opinion
it Would Be Good Thing.
SYSTEM NEEDS SAFEGUARDS
Attendance at COnvention In
History of Group Five-omcers
Elected for the Ensuing
Year.

with governmental guaranty you
have the absolute confidence OF the public
and every dollar of money can do busi-
ness" declared D. L. Heinsheimer, pres
ldent Of the First National bank Of Glen
wood. at the annual meeting Of group five,
Iowa Bankers association, which was held
at the Grand hotel yesterday.
The proposed governmental guaranty OF
bank deposits was the principal subject
discussed informally at the meeting. Mr..
Heinsheimer, who for many years has
been a vigorous advocate OF the proposed
system, opening the discussion by request.
The discussion was most general and all
of the speakers practically endorsed the
plan as a good one. providing It could be
carried out in q safe and practical man
ner.
Mr.. Heinsheimer emphasized the argu-
ment that governmental guaranty would
inspire confidence in every depositor and
would prevent panics that arise through
lack OF confidence He declared his be-
lief that private deposits were entitled to
the same privilege as the deposits of pub
lie FUNDS, which are guaranteed.
Attention was called to the adoption of
the plan in Oklahoma, but the speakers
agreed that It had not been in operation
there sufficiently long for judgment to be
passed upon its probable success. One of
the speakers advanced the opinion that II
the guarantee was to be made, ali banking
institutions, including national, state and
private, should have their deposits guar
anteed after thorough examination by the
proper officials. 1t was also suggested that
the guaranty plan would do much to fore
stall postal savings banks.
Plan Needs safeguarding.
Hon. ]. T. Brooks expressed 1t as his
opinion that the plan of a governmental
guaranty would eventually come, but the
plan would have to be properly safe
guarded to prevent dishonest men goinC
into the banking business. The necessity
for a banker to have personally the con-
fidence of the people would be done away
with under the governmental guarantee sys-
tenn, Mr.. Brooks contended.
The meeting was the largest attended
ever held by the group, no less than
seventy representatives of the leading
banking interests oe southwestern Iowa
being in attendance. AS many of the
bankers desired to leave for home on the
early afternoon trains, the program was
carried out at one continuous session,
lasting from 10 a. m. to 1880 at which time
t0e meeting ClOseu anu lne DhHkeTs du-
journed to the dining room. wheI q
daintily appointed luncheon was served.
The election OF officers for the ensuing
year and the adoption by unanimous vote
OF resolution endorsing James Hunter OF
| Minden for treasurer of the Iowa Bankers
! association, the annual meeting Of which
is to be held in Sioux City. June II and 12
constituted the entire business transacted
by the meeting
These officers were elected: Chairman
James Hunter, Minden; secretary. G. w
Cole. Woodbine; executive committee
| Charles Wood Logan; z. r. Hart. August
Beresheim. C. f. Price, Council Bluffs
l.. z. Potter. Harlan.
| Praise for Bankers.
In his address of welcome w. s. Baird
| vice president OF the state Savings banl
/ OF this city. referred TO the high tribut,
paid the bankers Of the country during tn,