The news=record. [volume] (Enterprise, Wallowa County, Oregon) 1907-1910, 1908-09-10
DEPOSIT GUARANTY
IS CAMPAIGN ISSUE
FAMOUS CORRESPONDENT SAYS
ELECTION WILL HINGE ON
BANK INSURANCE.

paper cores pondent who has more
correctly forecastei political cam
paigns and results since 1896 than
any other authority, had the follow
ing letter in the Chicago Record
Herald of August 27:
New York, Aug. 26-Reports from
| the West are to the effect that guar
antee of bank deposits is rapidly be
| coming one of the chief isuses of
he campaign. Down East here they
cannot understand; but that is not
surprising, because the East does not
understand the West in any way
LAST March, after trip through the
Northwest as far as Idaho, | express
ID the opinion that one of the luck.
est and strongest acts of Mr.. Bry
| ms political career was in identify
.ng his name with the idea of bank
| leposit guarantee or insurance. Sub
iequent Developments have proved
he correctness of that diagnosis
| Ir Bryan told me at Lincoln in
| July that the idea was suggested tC
him when he was in Congress. But
he had the quick wit to lay hold of
it as an asset in this campaign, and
it is proving one of the most prom
Using of all the issues he has in his
campaign battery. He is to make a
speech on the subject tomorrow out
in Kansas, and in it, no doubt, he
will try with all his cleverness tc
clinch his advantage.
The reports from the West are
that this idea has gained such a
hold upon the masses of the peo.
pie that the Republicans have been
forced to take it up in many places
requiring that their candidates fol
Congress and for the legislature com
NIT themselves to the principle
Only yesterday the Republican state
committee of Kansas voted to make
bank guarantee one of it's party prin.
ciples. In view of such facts as
these the Republican leaders ano
managers in the East are beginning
to wake up and to realize that while
they have the advantage of Mr.. Bry.
an in other issues on this one he is
likely to score heavily against them
They do not as yet see what they
can do about it; but it is obvious
that if anything can be done they
would better do it, and as quickly
as possible. No one believes Bryan
can overturn the big Republican ma
jorities in the West on this one is
sue alone, but it is perceived that il
might help along with other things.
On the record as it stands, the Re
publicans are at a disadvantage. The
Chicago platform declared for posta
!: savings banks. The Denver plat
J form for bank deposit guarantee, ant
for postal savings banks if that could
not be secured. Judge Taft makes &
: speech condemn.ng deposit guaran
: tee as Socialistic; Mr. Bryan will
take the other side of the question
in his speech tomorrow. To make
) matters worse, Attorney General Bon
aparte ruled that national banks il
Oklahoma could not participate il
the state guarantee system. Thu:
? the issue is pretty clearly drawn be
5 tween the two parties.
The more we study the attitude o
$ mind of the American people at thi.
E time the more must we be impress
ed by the fact that the popula
thought runs to practical business
questions. and that the creates
E event Of recent years was the mon
D ey panic of last fall. Presiden
Roosevelt recognized this in a tall
c with a visitor recently, when h
e pointed out that the great ques
tions before the American peopl
during the next few years were t
e be economic, pertaining to currency
banks, tariffs, trusts, railroad rate
c and wages. Mr.. Roosevelt though
o that in the pressure of these purel
economic questions the moral issu
raised by him might be at least ten
porariiy submerged. He may
c right about that.
b But in any event it is clear tina
n the nation is already confronted wit
at least one of the problems GROWN
out of or accentuated by last year
c panic, and that on this one .th
Democratic party has taken tn
Il more popular. even If not the sount
er side.
y In the West they tell me, a. grea
Is majority of farmers have money |
e bank. When the money panic star
; ed In New York last October an
e caused a wave of more or less neet
u less alarm to run throughout tn
country. many farmers took thei
e automobiles. their carriages or thel
" wagons. went to town, withdre'
{ their money from the banks and hi
t. 1t at home in stockings, or trunks
3 I u