Daily press. [volume] (Newport News, Va.) 1896-current, 1908-08-28
BRYAN ON GUARANTY
OF BANx pEPOFiTS
Continued from First Pags.)


the Republican national convention
refuses to pay any attention to the
subject and when the Republican
candidate opposes the whole ,propo-
Esition OF the guaranty. His dennh'
citation of the guaranty Is SO sweep
ing that no disinterested person eau
believe for a minute that he Will
either encourage or permit law al
lowing national banks to participate
In state systems. What the people
need is a system whereby both state
banks and national banks will be
compelled to guaranty depositors and
|only a Democratic victory can secure
this reform. With q Democratic
sPresident and a Democratic Congress
Il will be easy 10 secure the adop-
tien of system which makes both
state and national banks secure.
And speaking OF platforms. am
glad TO call attention to the fact that
the Republican, platform adopted In
Kansas indorses the Democratic plat
form on two important questions.
First, IL :favors the election OF United
States senators by direct vote OF
the people. A reform which the Re
publican convention rejected by a
vote of Z to l and which Mr.. TAFT
has never advocated but once. ana
that only in half-hearted way. In
his notification speech he said that
personally he vas inclined to favor
such a law, but It requires more
than a mere inclination toward the
law to secure such a reform.
Endorses Democratic Platform.
Another plank indorsing the DEM
Ocratic platform Is TO be found in the
condemnation of the political rules
Of the House OF Representatives and
Ia modification Of the rules while
Mr.. Sherman name is not mentioned
he is so prominently connected with
the rules OF the House thar the Re-
publican platform on this subject
cannot be construed otherwise than
as a Genunciation OF him.
Here We have the Republicans
Fof Kansas heartily indorsing the
nomination of Taft and Sherman.
ever commencing the speech of &C
ceptance Of Mr. Taft-while the con-
vention proceeds to condemn Mr..
Taft's position on the guaranty OF
banks and Mr.. Sherman's position on
the subject of rules
Mr.. Bryan's speech delivered at To-
.peka follows:
Guaranteed Banks.
|. Mr.. Chairman. Ladies and Gentle
men:
Why not make the depcsitor secure?
The United States government re-
quires the deposit of specific security
when it entrnsts money to a-natlenai
bank, although II can examine the
hank at any time: the state requires
security when 1t deposits money in a
bank: the county requires security
and the CITY requires security: even
the banks require security from the
officials who handle money. why
should the depositor be left to take MS
chance?
Not only is the deposition without
, protection, but the security given %
nation. state, county and city lessons
his security. They are preferred
creditors: they have a mortgage o.,
pthe gilt edged assets and the deposit
tor must get along as best he can with
what remains. Why are the inter
ests of depositors thus neglected!
A bank asks deposits on the theo"y
ktnat the depositor is sure o. the re-
turn of his money. and the laws ought
to make the facts conform 20 the
theory. The depositor. the comman'-
ty and the banker himself VIII D.
benefited by legislation which VIII
give to every depositor the assurance
that that which Is committed TO the
keeping Of the hank WI! be avahaofe
to meet his needs at any time. Sucn
IA not absolutely So This statement
can be verified in. several ways. -
First: The President has advo'
Gated a postal savings bank. and BIS
postmaster general. in presenting an
argument in its favor. pointed out
; that manv millions are sent to EuTop'
ean saving hanks every year o!
Americans of foreign bi!ta who prefSr
to trust the state Institutions Of thp
nations beyond the sea, rather than
the private banking institutions here.
Money Now "in t4sdi"s'
Second: II Is known that eohs'des-
able amosnt Of money-is tn hiding. the
amount increasing with the ap-
preach, of panic or business depres-
sion: This money lie not only with
drawn from active use. but 10 lively
to he withdrawn sust at. the tine when
ncney ia most needed and when the
withdrawal win increase the ftnan-
ciaI dis;uybance. 1t Is im"ossib'e
to reason with fear: It Is futile to
tell men that they viii probably get
.Ao;, ,,c,sv Tho moment tho Aepos-