West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1908-10-29
EASILY UNDERSTOOD
Mr.. Bryan Shows Why the In
dividual Favors Protection
OF Bank Deposits.
A MATTER OF INTELLIGENCE
Banks should Attend 20 the Ranking
business and Not tho
Government.

sands and thousands OF republicans
VIII vote for MIR. Bryan on account of
this one issue, which he has presented
80 clearly TO the people of the nation.
In recent speech MIR. Bryan pre-.
Sontod this Issue in simple and most
convincing way. lie said:
"Of the many policies proposed in
our platform, the protection OF bank
depositors is the simplest and most
easily understood. Why. my friends.
thls question tx 80 easily understood
that suppose there IL not a person
In this audience who tx not able to
understand IL. | do not mean that
every one, everywhere. can understand
IT, | draw the line here: When every
person reaches the period of intel
lcctual development. where he a. able
To see that when n man puts his money
In tho bank he ought To be able TO gst
II again, he ought To have Intelligence
enough TO understand this subject; but
until he gets To this point | do not
know how TO reach him. take Il for
granted, however. that you are all
sufficiently advanced to be able TO
understand that when YOU put your
money In bank you ought TO be able
To get II out again. Now, my friends.
there arc just two questions to be con.
sidered In this matter. One or these
! have given you. The other question
is, who must make it 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 a self evident
truth and that IL would not he denied
cussing the guaranty of bank deposits
i'm all parts of the country. After I
had madc my speech I'm Baltimore. ex.
planning our system and presenting our
arguments I'm support of &C. my atten-
tlon was called to an advertisement I'm
one of the papers. In my speech had
said that you could insure your house.
you could Insure your life, you could
insure your buggy or your barn, but
mat you could not Insure your money
Ana In this advertisement my Ian
guage was quoted and the ADVERTISE
ment went on to say that | was mis-
taken, Tor certain fidelity company
was prepared to insure deposits. And
then | found out how they do Il down
there. You put your money in n bank.
ana then go and get somebody to In
sure II 80 that you can get II out of the
bank again. ! believe the time has
come TO compel all the banks to stand
back OF the banks and make good tho
presumption upon which you deposit
your money I'm 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.
sionally bank fails. but the trouble
IS that we cannot tell In advance which
bank is going To- fail Look at the no
tlce they hang mp. Does IL say, this
bank Will fail?' No. the notice says
this bank Is closed and II bankers
follow out this plan will agree not TO
urge this insuring of deposits Let
the bank give notice three months i'm
advance OF failure so the people can
get their money out before the failure
DO you think the banks are sufI-
ciently secure now? The postmaster
general says, I'm his report I'm favor
OF the postal savings bank. that we are
sending millions OF dollars 10 Europe
10 be deposited I'm 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 10 risk the banks OF
this country. / say 10 you that we
ought 10 make our banks here so Sc
cure that money Will not be driven out
OF the United States TO find safe
place OF deposit. That money which is
driven 10 Europe ought to be kept here
and used IN the business OF this coun-
try. Not only does money 20 90 Eu-
rope. but money goes into hiding, and
this Is about the time Of year when we
discover some OF n. You will see I'm
the paper every once I'm a while that
Mrs SO and SO for the first time this
iall made q fire and was mortified To
find that her husband. without her
knowledge. had been using n as a
bank A man I'm New York said last
fall whom The panic was on. that a
billion dollars was I'm hiding under car
pets. do not know whether that
estimate is too high or too low. but !
know this. that n I were a banker
would be ashamed to have an old rag
carpet running rivalry with me as a
safety deposit vault. I'm time of danger
IT any man says that the banks are
sufficiently secure I viii remind him
that there is not national bank I'm
the United states that can get dollar
~ Uncle SANS money without putting
up security The state demands &c
curity. the county demands security.
the city demands security: and each
village demands security. and the fra.
tcrnal orders arc now demanding so.
curity and ] believe the time has come
when tho farmer. the merchant and
tho laboring man should have security
whom they put their money I'm a bank.
I'm Oklahoma they have had this
plan iu operation for now somc six
months learned o. one failure there
and in forty-two minutes after tho
bank suspended. the man I'm charge
had an order from the government 20
pay every dcpOsitOr in full. and the
business went on without interruption.
And whom he tolophoncd out TO the
farmers and said 10 them. The bank
has suspended. como in and get your
money they answered. We are busy
with The crops now. we will be I'm ln a
Tow days Us 50 the way you do here
in your state when n bank gets ghaky?
Is IL the way you do when bank sus-
pends2 NOi the very rumor that 4
bank IS n lttlc uncertain makes
rush Of dcpoators and they make it
insoivcHt whe,her Il was insolvoht or
not
This plan protects the depositors:
70 protects the community, and II Is
good for the bank as well.
~ would rather see the banks attend
20 the banking buoiness than 20 have
u transferred 10 the government, and
because 7 prefer 20 have the banking