The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1908-09-27
Also Tells Why He Recon-
mended Standard Oil At
torney For Judgeship.
Says He Paid For Use of
Private Car In Which He
Rode and He Rode in the
Private Yacht as Guest of
Fishing Club-Big Meet
ings in the Twin Cities.
BY Associated Dress

MINNEAPOLIS, Mimi. Sept. 26.-The
fourth day of William II. TaftS cam
paign tour ended here tonight with
delivery of his views favOring postal
savings banks and opposing Mr.. Bry-
ans theory regarding the guarantee Of
bank deposits, both vital issues # thu
campaign in the territory which sii .
Taft is to cover in the next few days.
Mr. Taft will rest here tomorrow, con-
tinTTing his tour Monday
In a brief statement today, Mr.
Taft answered the criticism of himself
by Senator Foraker, explaining that
his recommendation of Judge Doyle
for she federal judGeship was made
on the strength of Mr. Doyle's great
professional attachments and high
character after notifying President
Roosevelt that Doyle had represented
the Standard Oil Company as attorney
but Mr. Roosevelt had seen fit to APP
point Judge Taylor instead.
Mr.. Taft explained that he paid for
the use of the private car of Mr.. Lewis
and that he rode in the private yacht
provided by the fishing club whose
guest he was.
TOday'S work began early at Cedar
Rapids and continued nOrthwaTd
through Iowa and Minnesota, ending
with mammoth meetings in the twin
cities tonight, an even dozen speeches
being made by Mr. Taft.
Attacks Guaranty Plan.
In his speech here tonight, Mr.. Taft
said, in reference to the guaranty OF
alsankl deposits go -.
Mr.. Bryan says that as the govern
ment has security for its deposits in
the banks, why should not the individ-
ual deposition have security? The gov
ernment's deposits usually are not a
commercial matter and they are usual
ly passive deposits that are not check
ed out every day. but are allowed to
lie a long time in the banks The
government is rich enough and strong
enough not to give deposits to banks
if it does not choose to, and it may
keep them with entire security in a
safe of its own 1t only makes de-
posits for the purpose of releasing the
proceeds of taxes which are not I'M
mediately necessary for the use of the
government and which it is in the pub
lie interest to have deposited in order
that the money may go back into
trade. But as the government geneT
ally makes nothing out of the loan ex
cept to benefit the public as just stat
ed, and as the government would be
greatly embarrassed by the inability
TO secure the money when needed,
ana as the money IS the money or ali
of the people, the statutes require
such security
And the advantage to the bank in
getting the money and prestige are
such as to make it worth while for
the bank to give security, but if the
bank were required to give security
for all of its deposits, it would require
an investment of all of its capital in
securities. and banking would cease to
be attractive TO any one But this ex-
ample of the security for deposits does
not justify the proposed system be-
cause the government gets security
from the banks that receive deposits.
It does not get its security from other
banks in the community and they are
not required to furnish security for
that which they do not control or have
the custody Of. which is the system
proposed by the democratic platform"