The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1908-02-06

| will remember that the bankers nad not
time to urge remedy for wild cat cur,
rency. and the government, single hand
ed, substituted the National Bank notes,
which all admit was blessing.
Rep: Yes, l know. The main OBJ
lection l hear against deposit insurance
is that it would create reckless banking.
What answer can you make to that?
! ConSt: As said these objections come
from the large, influential bankers who
believe they are beyond suspicion and
superior to their smaller competitors.
Like mother, my baby is the best
baby" They fear that insurance will
remove that discrimination now excer-
cised by depositors to select the safest
bank As if such discrimination is of
much value. remember when | excer-
cised this caution to the fullest extent,
and in spite of it was bitten. This was
in one of Chicago's largest banks, con-
sidered one of the safest. The stock was
worth three times its face value, yet it
failed, and was kept on the anxious
seat for ten years until the receiver fin.
ally ended my suffering by ending the
receivership. have answered this ques.
tion time and again, and cannot see why
the bankers should become reckless.
Neither their capital, their double liabili.
ty, nor their reputation and honor are
insured. Would person who has his
life insured, become more reckless of his
health, deliberately going into danger
GUS living because his family is insured
own throat The more watchfulness
the stricter the examinations and the
more severe prosecution which would
obtain under the Insurance plan (far
more than is now in force would not
encourage banker to be reckless, and
thereby risk Imprisonment. There is
not single valid reason why the insur
ance of deposits should not be the most
practical, the sanest and the soundest
leRlsldulOD COuCelNdDle.
Req: Our national convention will
soon meet, why not put deposit insur
ance, as one of it's planks, in the plat
form and let the people vote on it?
Const: Why, that is not necessary,
as we already know that ninety five per
cent of our people will vote in favor Of
it, But supposing it will have to come
to this, let me assure you that this plank
will be the most popular ever put in any
political platform, beside which all other
planks will sink into insignificance.
When the voter comes to the plank We
are In furor Of IdriRg Banks to Insure
their depOSitorS they will at once know
what this means to them, and will
sweep all opposition from the face Of
the earth, politically. | have endeavor.
ed to explain the different phases of De
post Insurance and to prove that prac-
tically AL our people, including your
constituents, are in favor of it, and the
sooner it is accomplished the better sat.
isfied they will be. hear the wheels
of legislation beginning to move, and
will detaip you no longer and am ever
so much obliged for the attention you
have given me. Iu case anyone should
attempt to contradict anything | have
said in favor of Deposit Insurance, please
let me know and will defend it, for in
my fifteen years of missionary work
never failed in this particular. hope
l need not bother you again, and should
be pleased to see your constituents plac-
ed under such obligation to you, that
your next campaign will be pleasure.
My address is 922 South Eighth Street,
Manitowoc, Wisconsin.
GOOD BYE.