The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1908-01-28
CIRCULATION PROFIT
USED As FOUNDATION
Bitter Strife Over BartleS-
Vile POStmaSterShip In
tefeStS Politicians
CBy Walter Shullzl
n.L -

CBy Walter shulizl
Special TO Daily Leader
Washington. Jan ~ Senator r.
T.. Owen has suggested new method
OF providing a fund for the guarantee
of national bank deposits without
taxing the national Mnks at all
His suggestion is that the hriiits
arising on circulation OF the national
banks which amounts to about three
million dollars per annum be used for
this purpose
lie calls attention to Comptroller
Ridgleys report of 1907. which shows
that net loss to creditors for the last
ten years had been less than 100000
! per annum.
The suggestion OF the senator from
| Oklahoma is that the profits on circu-
| hation to the treasury be allowed to
/ accrue untA il reaches twenty-five
millions as a guarantee fund, allow
/ ing to comptroller Of the treasury. il
! necessary, to reqnre a tax on de-
pOsits not exceeding one-tenth of one
/ per cent per annum to supplement
| this fund
This will make insurance to the
national banks cost them practically
nothing.
The deposits OF national banks on
May 30, 1907. amounted to s6,324,-
s42. .359.54. and onetenth OF one per
cent on these deposits would provide
approximately s6,oe00OO a year and
YET be a very small item TO each bank
ana even this tax would not be neces-
sary Judging the future by the past
ten years
The principle OF the Aldrich-Fowler
/ hills arpuIinu fn Cap1ff,t Dunn Is
the same IN that III either case il is
an issue of currency uotes against as
sets, the Aldrich bill proposing bond
assets and the Fowler bill proposing
the general credit Q the bank as as
sets
The Aldrieh bill said Mr. owen.
is Objectionable in allowing railroad
bonds to be used which would add
specific value to the bonds OF a pri-
, yate corporation, infsead OF confining
/ such values TO public bonds
Another objection 20 the Aldrich
bill as first drawn was that it would
deny every bank In the country which
i, had issued its quota of national bank
currency from taking advantage Of
J The proposed remedy
/ The remedy ought to be as wide
open as possible ard not contracted
since the real purpose is 10 protect
the country from panic.
'lf the Aldrich proposition were
available to every person or corpora
ton said the Oltlahoman, "it wonld
serve the same purpose as my bill.
With reference to the Fowler bin
Senator owen said
frhe Fowler bin is a sufficient pen.
atty where imposed by which the is.
sue would be- retired when need
passes, il would serve the same pur-
pose. Any Of these measures should
be so adjusted as 80 provide quick
currency available 10 the country aud
II the bank deposits were guaran
teed there would be no reason why
we should ever again n this country
have amy financial panic
Remove the restrictions from AN
the allOments OF the Five Civilized
tribes with thc exception of fun blood
lndians and The hOmesteads of the
J hall bod Or more These are Repre-
sentative DayenpOrt's sentiments as
engrossod in bin recently intro
ducod in congress FOr The purpose
OF examination and approval of m,
< applications for removal of restric
tions he would have the Interior dc
: partmeui keep "A representative ia
r. Oklahoma
The Davenport idea Is also tha
F" death of an allOttee should automatic
% ally remove the restrictions upon tht
= alienation OF the dead mans land
but probate courts 10 have jurisdic
tiOn of conveyaDces involving thl
? rights OF full blood heirs He woui,
also discontinue the practice OF sell
fr "a
installments and instead sell 60 tn,
highest bidder for cash.
A. Morgan, postmaster of Ban
tlesville, and ~ II Higgins. f0rmerl
secretary of state Of Kansas. hayl
locked horns over the question of sue
cesslOn IN the Bartlcsviile DOstOifict
The former has the endorsement d
SOper while the latter it Is generall
understood, ia being backed by Num-
er. Charges are on Ale against bot
candidates with the result that thcr
hos been some talk Of cOmprOmis
candidate man for the ONCE. Thl
position pays $1,000 year and /
one Of the best pas Ing post offices n
East Oklahoma
Morgan. IL is thought win win Ii
the end. regardless Oi the inRuenc
Higgins has Brought 20 bear in th
shape Of Senators Long and Cnrli
of Kansas. Mr Morgan's brother o
Coneyrille Kansas s. looking afio
- nis interests and has repeatedly iria.
~ set Congressman Davenport nut
the scrape bin the latter Is keeplnI
his hands on AMI has informed MI
Morgan that be has troubles ol M
oNp without going ouJsi0e of hi
own party ranks.