The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1908-03-14

The other day and sent ont q cir.
tular leiier TO an national banks
Stating that they would have 90 try
TO DO business withont projection. os
become ftnte banks. ol organize an
Insurance commny Tie committee
cane to noe and asked noe what /
Thought of e. Their plan was 10 put
rp interest drawing municipal secur
tiles to the extent Of one per cent of
their dep0siis-not plain straight
money ! told them that they were
trying io buy sealskm sncque az
"a bargain counter i0r q quarter The
truth is the peoplr win have more
fsiih 81 the rich ACRES of The whole
OF oklahoma than they viii ia an IN
sdrauce company composed of part
~ the people rhey. ihe national
bankers. say ia their consultations In
case any bank So insured Hcpmcs
ihsolpent liis corporation may nr
range through the stockholders, or
with the comptroller OF the currency
to omen said bank and restore the
Impaired oaDnel or may take over
the assets and pay the depOsliors' :
Their plan Is a may with municipal
honis 10 fall hack on Our plan IS
a must. with the real coin on hand.
Now. what do You think the people
are ening ~ do? Put their money
ga guaranteed national Dank on
put lt in secure state bankff
Belno Courteous to the Comptroller.
"Bat. governor the interviewer
remarked. Naiiunal Comptroller of
the Currency Ridniy viii not let the
national banks of oklahoma come IN
on yut plan"
That's little kiuk Ina irving 70
straighten ont today answered the
governor Section of our law
states that national banks may come
~ the same as state banks, provided
tile comptroller Of the currency gives
bis consent We thought we would
extend q little courtesy to the comp
troller. h1t If he doesn't want to take
II we win cut that out and 50 ahead
anyhow Here is a telegram sent to
our United States senator, owen, az
Washington in this telegram ! have
told the senator that we wy!Jld cut
out that part Of the law requiring the
consent, and that We
would limit the amount OF interest
that banks cocld pay for deposits to
three per cent. and and not allow
banks to accept as deposits more
than ten times the amount Of their
capital toek without increasing their
capital st0sli without increasing their
bility of wildcat Banking. Senator
Owen has wired back that he thought
this would go through with these re-
stTictions-Ythat the suggestion would
be acceptable a. vote OF the stock
holders OF any national bank would
give complete justification for the
OF insurance under the state
plan This viii arrange matters 20
that the national banks can take ad-
eanlage Of the Oklahoma state bank
law.
'Bown here Ia Oklahoma we feel
that the banking business IS semi
public business and above all things
else that the people who put their
money in a bank should feel that
what they put in they can get out.
You would be surprised to see the
Of letters that have come in
frs 10 people in surrounding states who
suy they are going 20 withdraw their
money from titii uAllkF WHICH dit
not guaranteed and put it into Okla
homa state banks which are guar
anteed This VIII make the other
states get busy aud do what we have
done Kansas has today passed laws
depositors Oklahoma
I the middle Of the pond in which
the pebble has been east What we
have done here win spread all over
the United States, and spread fast
Before calling on the governor /
had during the previous four weeks,
been over large section OF Oklahoma
and talked with many people mclud-
ing bankers; about the Oklahoma
bfniing law ] asked a liveryman
who was driving me how he liked II.
"Wel. l'l ten YOU. pardner," an
swered nay driver when things
was a-p1ppin' round here | felt kind
o. juberous about the little wad had
in The bank an n could'a'got her
ont ld'aetnck mine IN my jeans and
took chances on some feller's setting