Wausau pilot. [volume] (Wausau, Wis.) 1896-1940, 1908-01-07
ing deposits and for establishing a

ing deposits and for establishing a
system of through bank examination.
Twelftn-This plan would not be
good thing for stock gamblers, because
if the government were guaranteeing
depositors they would see to it that no
money was loaned on stocks with too
much water in them. But this plan
would not be bad thing for the man
who wished to buy stock for a
legitimate investment
Thirteenth--This plan would not be
good thing for over-capitalized trusts,
because they could not borrow more
than they ought to have, and because
no one bank should be allowed to loan
more than reasonable percentage of
their capital stock, which amount they
could lose and still be sound.
Fourteenth-Tnis plan would be a
good thing for every legitimate bust
ness, for all of these above reasons and
it would prevent any panic that might
otherwise arise, because the country
would not be subjected to the viii of
few financiers who, under the present
banking system can cause panic any
time they want it, by refusing to give
to their depositors their money, upon
demand
STATE BANKS.
Mr.. Bryan's solution of the state bank
problem is an easy one. The states
would have to guarantee the depositors
in state banks, just the same as the
government would guarantee de-
positors in national banks, otherwise
the people would put their money in
national banks instead of state banks,
and furthermore, the state banks could
share in the national guaranty by put
ting themselves on equal footing with
national banks.
private individuals from loaning their
money to anybody they wanted to, at
whatever hazard they wish to risk.
Stock gamblers could get their money
from private people if the private
people would let them have it, but they
could not get the peoples money de-
posted in banks and gamble with
that" Buyers of stocks, however,
could borrow money on legitimate
stock investments, just the same as
merchant could borrow money on his
merchandise or farmer could borrow
money on his farm.
POSTAL BANKS.
This plan is better than our having
postal savings banks, because the
people and business men would have
greater use of the volume of money if
it were in banks where private indi-
viduals who owned the national banks
could loan money on legitimate enter
prises
The postal banks would have TO de- |
posit their money in other banks and |
then we would have all the dangers
that we now have, and while the postal
bank plan would be some improvement |
upon our present plan it would not be ]
as good as the plan of the govern |
ment's guaranteeing all depositors in |
national banks against loss
EMERGENCY ASSET CURRENCY.
This kind of money would mean /
simply this: that the banks could issue |
money upon their assets, buy more /
assets with this money and issue more /
money and, on a given amount of |
capital make their liabilities so great |
that when the top-heavy top quit /
spinning it would fall over and smash /
to pieces.
There is just as much money in the L
country as there was SIX months ago |
and yet all business is tied up and /
scarcely a man in America is not |
suffering loss right now. and every
body under our present banking
system viii keep on being In danger of
having = panic come any time that q
few financiers may say so.
I believe Mr.. Bryan's plan to be a
sane, Easy. quick solution of the present
money problem and / believe, as
business man, that If his plan 10 put TO
work il win be kept nj work and that
America win never again feel another |
panic CHARLES N. CHEwDsoS-