Gilpin observer., 1908-10-29
EASILY UNDERSTOOD
NJ. Bryan Shows why the In.
dividual Favors Protection
/ Of Bank Deposits.
MATTER OF INTELLIGENCE
8anks Should Attend to the. Banking
Business and Not tho
Government. '"

more strongly to the individual than
the protection of bank deposits, Thou
sands and thousands Of republicans
will vote for Mr.. Bryan on account OF
this one issue. which he has presented
SO clearly to the people of the nation.
In q recent speech Mr.. Bryan pre-
scented this issue in simple and most
convincing way. He said: -
"Of the many policies proposed In
our platform. the protection OF bank
ldepositors is the, simplest and most
easily understood.. Why. my friends,
this question is 80 easily understood
that suppose there is not a person
In this audience who is not able to
understand 1t. l do not mean that
every one, everywhere. can understand
" I draw the line here: When every
person reaches the period Of intel
llectual development. where he is able
TO see that when q man puts his money
Ia the bank he ought to be able to get
'!t again. he ought to have intelligence
enough to understand this subject: but
until he gets to- this point do not
know. how to reach him. take 1t for
granted. however. that you are all
sufficiently advanced to be able to
understand that when you put your
money In . bank you ought to be able
70 get It out again. Now. my friends
there are Just two questions to be con.
Isidered In this matter. One OF these
z have given you. Tho other question
Ia. who must make 1t secure? Our
position II that As the banks make
their profits out OF the peoples money.
The bankers ought to give the insur.
ance the people require. Now. had
lsupposed that that was self evident
truth and that 1t would not be denied.
Il have made no speech without dis.
eussing the guaranty Of bank deposits
in, all parts Of the country, After l
|hAd made my speech in Baltimore, ex-
planning cur system and presenting our
arguments In support OF. It. my atten.
ltSon was called to an advertisement in
Ions Of the papers. In my speech had
said that you could insure your house,
you could insure your life. you could
insure your buggy or your barn. but
that you could not insure your money.
And in this Advertisement my Ian.
guage waa quoted and the advertise
ment went on to say that was mis-
taken. for a certain. fidelity company
was prepared to insure deposits. And
then found out. how they do 1t down
there. You put your money in q bank.
land then 60 and get somebody to in.
lsure 1t 20 that you can gstait ont OF the
bank again. I believe the time has
come to compel all the banks to stand
back Of the banks and make good the
presumption upon which you deposit
lyour money in the bank.
"Nov. my friends, you may ask II
the banks. are not now sufficiently Sc.
cured. That Is what the bankers say.
They will even tell you that only occa-
sionally bank fails. but the trouble
is that we cannot tell In advance which
bank is going to fail. Look at the no
tice they hang up. Does It say. this
bank will, fail?' No. the notice says
this bank is closed and II bankers
follow out this plan will agree not to
urge this insurins Of deposits. Let
the bank give notice three months in
advance Of failure 20 the people can
get their money out before the failure.
DO you think the banks are sum.
ciently secure now? The postmaster
general says. in his report in favor
OF the postal savings bank. that we are
sending millions OF dollars to Europe
TO be deposited, in government say
ings banks there. and the people who
send their money there would rather
send 1t across an ocean three thousand
miles wide than to risk the banks OF
lthis country. I say to you that We
ought to make our banks here SO &C.
cure that money will not be driven out
of the United States to find safe
place Of deposit That money which is
driven to Europe ought to be kept here
bnd used IN the business OF this coun.
Ty. Not only does money go to Eu.
rope. but money goes into hiding, and
this Is about the time Of year when we
discover some Of It. You will see In
Ehe paper every once in a while that
Mrs. 30 and So for the fret time this
Fall made q nre and was mortified to
hnd that her husband. without her
knowledge, had been using It as a
bank. A man In New York said last
Fall. when the panic was on, that a
Pilllon dollars was "a hiding under ca..
pets. l do not know whether that
E,stimate Is too high or too low, but I
know this. that II I we're a banker I
would be ashamed to have an old rag
carpet running rivalry with me as a
Safety deposit vault. in time OF danger.
III any man says that the banks are
suhaciently secure will remind him
that there Is not q national bank in
fhe. United States that can, get dollar
bf Uncle Sans money without putting
PIP security. The state demands Sc.
curity; the county demands security:
fhe city demands security: and each
village demands security; and the fra.
ternal orders are now demanding Sc.
curity. and ! believe the time has come
when the farmer. the merchant and
fhe laborins man should have security
when they put their money In a bank.
In Oklahoma they have had this
plan In operation for now some six
months. I learned OF one failure there
and In forty.two minutes after the
bank suspended. the man In charge
bad an order from the government 10