Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1908-10-30
Mr. Erlan Shows Why The IE,li
,idual FaNor- Protection
If Bank ncTo-it-.
A MATTER OF INTELLIGENCE
Bank should Attend To the banking
business and Not the
Governments.

OF Tho many policies proposed in
or platform. the protection of bank
Grpusitors is the simplest and most
easily understood Why. my friends.
this question is SO easily understood
that | suppose there is not person
In this audience who Is not abb" to
understand it do not mean that
every one. everywhere. can understand
il. | draw the lin" here: When every
person reaches the period of intel
loCtual development. where he is able
To Sc" that when a man puts his money
in the bank he ou@ht to he able To get
il again. he ought To have intelligence
enough 10 understand this subject; but
until he gets To this point | do not
know how To reach him. take 1t for
granted, however. that You are all
sufficiently advanced to be able to
understand that when YOU put your
money in a bank YOU ought To be able
To Get il out again. Now. my friends.
there are just two questions to be con.
sidercd III this matter. one of these
! have given YOU. The other question
is. who must make ii secure Our
position is that as the banks make
their profits out of the peoples money.
the bankers ought to give the insur-
anCe the people require. Now. | had
supposed that that was self evident
truth and that il would not be denied
Il have made no speech without dis
GUESSING the guaranty of bank deposits
In all parts of the country After |
Ia made my speech in Baltimore cX-
planning or system ANA presenting our
- ,I'tt@ ~ support of il. ms attcu-
& % 49, Cal!"d To an advertisement in
CA 4 tie papers. In my speech had
.-i! that Yol could insure your hous"
lou could insure your life. You could
insure your buggy or your barn. but
that YOU could not insure your morcy.
And i'll this advertisement my Ian
guaSe was quoted and the advertise
mcnt went on to say that | WAS mis-
TAX II. for a certain fidelity company
was prepared To insure deposits And
then | found ont how they do il down
there. You put your money in a bank.
and then 80 and get somebody To in
sure il SO Il at yuu can get il out of the
bank again believe the time has
come To compel all the banks to stand
back of the banks and make good the
PRESUMPTION upon which you deposit
your money in the bank
Now. my friends. YOU may ask II
the banks are not now sufficiently Sc
cured. That is what the bankers say.
They will even tell YOU that only occa-
s!onally bank fails. bat the trouble
is that We cannot tell in advance which
bank is going to fail Look AT the no
tlce they hang NJ. Does il say. this
bank will fall No. the notice saws
this bank is closed. and if bankers
follow out this plan will agree not To
urge this inSuring of deposits Let
the bank give notice three months in
advance of a failure SO the people can
get their money out before the failure.
do you think the banks are sufli-
cirntly secure now? The postmaster
general says. in his report in favor
OF the postal savings bank. that we are
sending millions of dollars to Europe
To be deposited in government saw.
ings banks there. and the people who
send their money there would rather
send II across an ocean three thousand
miles wide than to risk the banks of
this country | say to YOU that we
ought to make our banks here SO Sc
cure that money will not he driven cut
of the United States TO find a safe
place of deposit. That money which is
driven To Europe ought To be kept here
and used i'll the business of this coun-
try. Not only does money go to Eu-
rope. but money goes into hiding. and
this is about the time of year when we
discover some of ii. You will see in
the paper every once in while that
Mrs. So and SO for the first time this
fall made fire and was mortified To
find that her husband without her
knowledge. had been using il as a
bank. man in New York said last
fall. when the panic was on. that a
billion dollars WAS in hiding under car
pets. | do not know whether that
estimate is too high or too low. but |
know this that If | were a banker |
would be ashamed to have an old RI.
carpet running rivalry with me as "A
safety deposit vault. in time of danger.
III any man says that the banks are
sufficiently secure | will remind him
that there is not a national bank In
the United States that can Cct "A dollar
OF Uncle Sam money without putting
up security. The state demands Sc.
dlrity; the county demands security.
the city demands security: and each
village demands security: and the fra
ternal orders are now demanding Sc
curity. and believe the time has come
when the farmer the merchant and
the laborinS man should have security
when they put their money in a bank.
I'm Oklahoma they have had this
.'!2n in operation for now some six
months. ! learned Of one failure there
and in forty-two minutes after the
bank suspended. the man in charge
had an order from the government to
pay every deposition in full. and the
business went on without interruption
and when he telephoncd ont 10 the
farmers and said to them The bank
has suspended. come in and get you1
iloney. they answered We are busy
with The crops now. We will be in in 3
fc" days Is it the way YOU do here
In Your state when a bank gets shaky'
STR .NEE nc ~ may S.n,, a., g..