The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-01-23

a law, and should he wreck another
bank a real, genuine, honest, conserva-
tive banker will pay Mr. Marcell's de-
positors.
"'The governor says that I own
chain of banks In this he shows his
lack of knowledge of banking laws
both state and national. If he will
consult the law he will find that there
can not exist such a thing as a chain
system and that every bank must have
its individual identity and that it
must have its own capital and stand
on its own responsibility, but if ne
could put through his socialistic
sch eme of guarantee deposits he
would destroy this individuality and
put all of the banks into a chain, and
every good bank and conservative
banker would have to take care of Mr..
MARCEL, even though the governor
would continue to pardon him out.
Il am of the opinion that there was
about as much demand for a special
session of the legislature to pass a
guarantee law as there is for the par
doning of men like MARCEL
1.-The governor arraigns me as a ma
tional banker and says that I am
against the law because I am a nation
al banker. The governor is not salts
fled with already having misrepresent-
ed the banking fraternity but tells one
truth is I am interested in more state
banks than national banks and my OPP
position to this proposed socialistic
scheme is that the assets of these state
banks in which I am interested may be
held in sacred trust which they are.
for the benefit of the depositors who
have intrusted their deposits with these
banks, but II the governor can have
his wayne shall be compelled to pledge
the assets Of these Individual banks to
take care of Marcells and the like.
THE governor fails to recognize the
fact that nearly all of the state banks
in which I am interested lie along the
border right where he was claiming
that they were frantically rushing to
him to save them from the Oklahoma
law.
Now then, as regards to Mr.. Ridg
ley: Since the governors interview, I
see from the Washington dispatches
that the controller has written to the
governor defining his position and since
the controller does not agree with the
governor he claims that Ridgley's opin-
ion is merely the opinion of one man.
The difference between Controller Ridg-
leys opinion and tile governors opinion
is the difference between a careful
study on the part Of Mr.. Ridgley and a
hasty conclusion by the governor In
giving his opinion after careful study
and consideration, the controller bases
the opinion on long list of legal de-
cisions giving honest, good reasons why
one bank cannot pledge it's assets for
another bank.
Possibly the Populistic governor of
Oklahoma does ridicule the idea that
national bankers cannot come in under
such a law but I submit 20 all fair
minded men that the carefully prepared
opinion of the controller of the cur
rency on financial legislation is worth
considerably more than that of the new
and untried and inexperienced governor
| of Oklahoma.
1.-The governor goes into a display of
oratorical fireworks on the subject of
| the burning demand for this socialistic
| law of his and says that he could get a
| petition with 100000 names to it asking
for the law. Maybe he could and may
| be he could not. All we have is his
| statement for it. We had his state
ment for it that the bankers were clam
oring for a special session of the legiS-
| lature to enact a guarantee law but he
| has failed to furnish the evidence.
| Broad, blank statements are easily
made but sometimes not so easily
| proven.
I'm 1896 Mr.. Bryan went up and down
| the country and said with due sola,nni-
| ty that unless we had free silver we
were utterly ruined. We did not have
| free silver and we were not ruined and
| so the mere statement that there Is q
! terrific demand from the people Is not
|
does exist.
| 1.-THE governor publishes a petition
| from Wichita asking for the special
session of the legislature, if he had had
| any desire to be fair and frank in this
matter he would have published right
| by the side of this petition a copy of q
telegram signed by every bank in
| Wichita but two, urging him not 70 cal
| a special session of the legislature al
| this time to enact any so-called guaran-
| tee law, from time to time the governor
! was giving out to the press names OF
| bankers whom he claimed had written
him they were for it but unfair as he
| was all the time in this whole matter he
| had kilograms and letters from bankers
all over the state who had written him
| protesting against the session and tine
| law, but not one of these did he ever
! mention.
1.-THE governor says that unless some
thing is done quickly that it will be-
come a political issue. Now I agair
Il submit that there is no demand fol
/ something to be done quickly and or
| the other hand the proper thing is to
take time and consider this matter
| Oklahoma. has passed a law, let's see
| how it works. Already 1t has been as
| serted on the most excellent legal au-
| thority that the Oklahoma law viii
prove unconstitutional. Why not be
| sane? Why not take time and investi
| gate matter OF SO great Importance
| Let it become a political issue and &c
before the people, discuss it thorough
| ly, fully and sanely and then act
| Would not this be American? In 1885,
| there were those who regretted thai
the money question should become {
political question and yet we took it VI
| and studied it, we discussed it and We
| took time and solved 1t and no harm
| was done by taking time to discuss 1t
| Il can think of nothing better thar
1 that the matter be made an issue in the
next campaign and that the people b.
| allowed to have this feature discussed
on the stump and in the papers. Let u:
be sane, let us be reasonable, let Us
| know fully and UNDERSTANDINGS mis-