The Montgomery advertiser., 1908-08-28

insolvency of one bank Is such a men, ace to the solvency Of others that tnS solvent banks often join togetner ,,ana ana one for their own protection As i an illustration of this. point to the Act.on s,a of the Chicago banks in assuming tns liabilities of the Walsh banks. at heavy loss to themselves.
 There Is another advantage which the guaranty of depositors brings to the tied in other banks During the panic last fall the preserves caused the most of the trouble. The small banks want ed to withdraw their reserves .rvn. sn cities were not prepared to meet the strain. With deposits guaranteed there would be no runs on iocAi banks ana no sudden withdrawal of reserves.
 And to add still another advantage. |. the guaranteed bank, by drawing money from hiding and by preventing runs on the bank. would greatly lessen the need for an emergency currency
 have selected the Capital oa tns as place for the delivery of speech upon this subject, because your neignpor upon the south has been a pioneer in this reform. Her plan, as you know, has been such a signal success tnat de- posits have been drawn across the me from your State into Okiahoma- The alarm caused by this invasion or your hanking territory caused your governor to include in his call. special ses- sion a recommendation of the passage Wi When II the Legisiature met, however. sufficient to prevent the needed icKis- lation. and your state s SUI hss sum an obiecs @ lesson; they know the necessity Tor Jaw guaranteeing deposits. They have seen it's beneficent results & in 2 tieI siEses al banks taking advantage of the state system and reapins q rich reward. They have heard the echo or the nton banks of Oklahoma by the Attorney Generals ruling. which denies 70 such banks the right to share in the benents eebo e p being the surrender of charters by national banks which prefor fo peconv State banks rather than surrender the benefits of the saM sbs Influence oa few big banks. concentrated upon a Legislature, can defeat the wishes ok the smaller banks and the desire or the depositors all over the state.
 submit that in this effort to make all banks secure, the Democratic party is the champion of the farmer. tns professional man. and the champion of the banker. as well. NO class s outside of the benefits of this law, Tor 1t bestows its blessings upon at. x..n so quick to respond to the demands of Wall Street and so slow to yielo to the demands of the masSesf lnerf are two reasons; first, the Republican party has allowed itself to become the Servants of the favor-seeking corpor- ations, and, second. too many Repubh- can leaders look at questions from the aristocratic standpoint. the standpoint of the few-rather than from the Democratic standpoint, the standpoint of the many They legialate upoh the theory that society is suspended from the top, and they fall, therefore, to understand, either the evils that af- flicts the body polite, or the remedies that are needed The Democratic par ty. viewing questions from the stand point of the whole people. easily sees that which Republican leaders do not discover, and it's remedies begin with the relief of the average man. This is the secret, if secret there be, of the primaey of our party in matters Of re- form.
 when Solomon was invited to oh oose what he would. he asked for an un- derstanding heart, that he might dis cern between the good and the bad. and he was told that, because he had chosen wisdom rather than riches or long fife he should have, not only wisdom, but riches and length of days as we'll. And so when a party deter- mines to see first that which benefits the common people. it finds that in acting in the interest of the common people, it promotes the welfare of the smaller classes which rest upon the masses, for when the producers of wealth prosper. their prosperity is shared by every element of society.