The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-10-01
FROM OTHER PENS
SHAW ON GUARANTY.

L l..
Since the panic the question of re-
medal legislation has been allah
sorbing. Mr.. Bryan again seems to
have studied sentiment and popular
prejudice. instead of conditions, and
has rushed in, as Is his custom, where
statesmen fear to tread. He advo-
Gates in his platform the creation of
fund for the relief of depositors in
failed and falling institutions, national
and state.
A fund for the relief Of depositors.
to be of any value, must be available
when the panic Is at it's height. Those
IN charge OF such a fund would find
it advisable to respond in a measure
before bank actually closed its doors
or they would be compelled to respond
in full measure Immediately following
suspension. The trust companies of
New York alone lost in deposits $32O,-
100000 In forty days, yet no depositor
has or will lose penny and no stock
holder will realize less than par for
his stock
1t would have required 100000, 900
to safeguard the banks of New York
city alone. and at least 100000. 900
for the entire country during the pan
ic of last year. For with fund
created by assessment and under gov
eminent control directors never
would sacrifice their individual for
tunes, as they did last winter. to save
their institutions. They would throw
the responsibility of suspension and
widespread disaster upon the govern
ment. Let the government assume
such responsibility and the govern
ment will be called upon to make
good. 1t might as we'll be understood
that the government will have to keep
out of the banking business or face
the consequences of banking
Does the Democratic party intend to
withdraw S500,000,000 from the chan
nels of trade and lock it up against the
day Of disaster, which comes once in
ten or fifteen years? Or does 1t pro-
pose that this guaranty fund shall be
invested and the securities sold in the
hour of calamity? If so. to whom
shall they be sold? Their sale in the
very nature of the case would create a
demand upon the banks exactly equal
to the relief afforded. You can never
extricate yourself from financial
strait by changing the insufficient
money you happen to have from one
pocket to another.
Nor is this ALL Banks never fail
except when unable to realize on loans
! they have made. If the banks of the
country could have collected their
loans and could have realized on their
securities there would have been no
panic Poor loans are the one rock
on which banks break. If the DEM
ocratic party will promise the creation
of a fund for the redemption of poor
loans we shall be able the better to
understand the actual merit or the
want of actual merit of the PROPOSE
tion.-Leslie NJ. Shaw, former Secre-
tary of the Treasury.
HORSEBACK RIDING.
One of the present features of the
summer which has just passed has
been the revival of horseback riding.
The increase in the number of persons
who have adopted this delightful ex-
ercise has been very noticeable, and
in the parks some of them are almost
always to be seen, particularly in the
fine morning hours. Many business
men have taken up the habit, and
more women are riding than ever be-
fore.
1t is a fine way of getting exercise
and the outdoor air at the same time.
Better than any number of hair-rais-
ing, tearing rides in an automobile is
the gentle jog or the invigorating gall
lop on horseback over country roads.
1t is one of the natural ways of enjoy
ing nature and is, besides, one of the
best health and youth restorers known.
It is only to be hoped that this revi-
val of eQuestrianism is not merely
fad of one summer, to be dropped for
some other less irvigorating sport an
other season.-Ohio State Register.