The Norfolk weekly news-journal., 1908-08-28
BRYAN SPEAKS
At Topeka
NEeRAskAN DELIVERS FOUR Ap.
DRESSES IN KANSAS CAPITAL.
TALKS ON GUARANTEED BANKS

frInCiPal discourse OF Democratlc
Presidential Candidate Concerns
Security Of eposits-Adds Some
Remarks to His Prepared Speech.
Topeka, kan, Aug 2S-Before an
audience which filled the Auditorium
to overlooking, W. J Bryan, Demo.
cratic candidate for president. spoke
ON the subject of guaranty OF bank
deposits, Previously he had deliv.
cred three other addresses. two from
at Garfield park, where he attended
picnic of the knights of Pythias, his
latter theme being "Fraternity."
Mr.. Bryan, in view OF the action of
the Kansas Republican state Conven.
ton. which Endorsed the guaranty
proposition, made some remarks sup.
Elementary to his prepared speech on
that subject He took up the ad.
vantages of the guaranty system and
then answered the objections made to
1t by Mr., Taft and others He began
by asking why the depositor should
be left unsecured when the national
government demanded security of any
bank with which it deposited money.
He pointed out that the choice was
between the postal savings bank and
the guaranty bank, and accused Mr..
Taft of favoring an unnecessary ex-
tension of the sphere of government
in advocating the postal savings bank
instead of the guaranty bank. Mr..
Bryan declared that he preferred the
guaranty bank proposition, which
would allow the banks to attend to
the banking business and yet compel
them to give their depositors neces.
sary security. Upon the conclusion OF
his prepared speech, Mr.. Bryan said:
Kansas Bankers Favor Guaranty.
IL asked Mr.. Breidenthal, banker
OF Kansas City, to make inquiry
among the bankers Of Kansas and as.
certain what proportion Of them IA
yored the guaranty law. | learned
that of the bankers that had ex,
pressed themselves on this subject.
about three-fourths of them favored Q
guaranty law and one-fourth opposed
it. This is an excellent showing.
Among the depositors there is no op-
position at all and it is evident that
the Kansas bankers recognize, first,
that something must be done, and Sec
ond, that the guaranteed bank is bet
ter than the postal savings bank.
also inquired OF Governor Haskell in
regard to the number of national
banks who have surrendered their
charters and became state banks in
order to have the benefits of the guar.
anty system. ! have telegram from
him saying that four national banks
have already made the change and
are operating under the state banking
laws, and that sixteen other national
banks have applied for state charters.
This is conclusive proof that the Okla
hOma law is a success A national
charter is supposed to have some ad-
vantages over a state charter, and the
benefits of the guaranty law must be
admitted, when twenty national banks
will in short time change from the
national system to the state system in
order 10 give their depositors the ad'
vantages furnished by the Guaranty.
Sees No Hope in Republicans: =
Since the preparatiQp Of my speech
on this subject, the Republicans of
Kansas have held a convention and
adopted state platform. The plank
on the guaranty of banks is recogni.
tion of the necessity for security, but
the plank is so worded as to be prac.
tically useless so far as the protec-
ton of the people is concerned. The
Republicans propose to enable the
state banks to mutually and volun.
tarily guarantee deposits, But that is
not enough. Suppose that the banks
mutually agreed not to do it, Must
the depositor be left insecure?
THE Kansas Republican platform
ais3 reduesIs the Republican candi.
dates for congress and United States
senate to favor Jaw in aiding a ma.
tlonal bank to participate In the pro
posed mutual and voluntary system.
But what chance is there Of securing
such a law when the Republican ma
tiOnal convention refuses to pay any
attention to the subject and when tho
Republican candidate opposes the
whole principle of guaranty? MI.
Tat's Gcnuuciation Of the guaranty
system is so sweeping that no disin-
terested person can for a moment be-
Iieye that he will either encourage or
permit a law enabling nationa, banks
to participate in state systems. What
the people need is q system whereby
such state banks and national banks
will be compelled to guarantee dopos.
itors and only a Democratic victory
can secure this reform"
Tragedy at Atlantic City.
Atlantic City n. j., Aug. Is
Charles b, Roberts, president and