The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1908-01-24
FROM GOV. ROcH.
Issues Letter About Methods of Bank
ers, Association.

Governor Hoch made another contri-
!, button to the rapidly growing literature
on the subject of guaranteed bank de-
posits Thursday afternoon.
| This contribution is in the nature of
an EXPOSE" of the methods being pur-
sued by the State Bankers association
to defeat the guarantee bill. The fol-
| lowing is the governors statement:
There has been returned to me by a
prominent banker, to whom it was sent.
| the letter which has been sent out to
the bankers OF Kansas by the so-ca1led
executive committee of the Kansas
Bankers association, of which the fol-
| lowing is a copy:
KANSAS BANKERS ASSOCIATION
Topeka. Kan, Jan. 16, 1908.
To the Bankers of Kansas:
| without doubt the proposed bank
| guaranty deposit bill will pass the pres
| ent legislature and become a law I'M
| less the bankers of the state get busy
| at once.
1t is the judgment of large majority
of the ablest bankers in the state (both
state and nationaD that the plan is
| dangerous and impractical. If you are
! opposed to the bill, please write, wire Or
| come and see your representatives and
senators without delay and urge them
as strongly as you can to oppose the
measure.
BY order of the
VE,COMMITTEE.
To this letter Mr.. Roy Hesseltine,
cashier of the Citizens State bank of
Sabetha, one of the largest state banks
in Kansas with a capital of $4,000,
made the following most excellent re-
ply:
Sabetha, Kan, Jan. 20, 1908.
W. W. Bowman, Secretary, Topeka,
Kan.
Dear Sir: Your circular letter rela-
tive to the passage of a guarantee bank
III iS of a nd ar
surprised that as great an organization
as the Kansas Bankers association has
not been sufficiently alive and awake
to place their ear to the ground and
listen to the rumbling and demands of
the common people of our great state.
Why, the handwriting is plainly visible
If we fail in procuring the passage of
the measure you are fighting, it will be
the most fatal mistake our state has
ever made Even here in the northern
part of the state, parties threaten to
send their surplus to Oklahoma in case
the bill guaranteeing deposits fails in
its passage. If our state organization
means nothing better or higher than
lobbying in the defeat of worthy meas
ures we, for one, want to be d1sfran-
chised from it's membership. Your
position is mystery to me, unless
YOUR committee is controlled by nation
al banks, and I can't see why you
should take this stand, even IN that
case as a national bill is inevitable, in
which case you simply place the state
banks where they will be compelled to
nationaliZe.
Trusting that you may become en-
lightened and up with the demands o.
the day before your efforts work har ar
Verv truly, ROY HESSELTINE.
It win be observed that this appeal
to get busy at once is only to the bank
ers of the state do not believe that
a large majority, nor any majority at
all of the bankers Of the state are OPP
posed to this guaranty proposition put |
on the contrary, l believe majority
of them are in favor of it. But be this |
as il NAV there can be no question |
where an Overwhelming majority Of the |
depositors stand on this question, and
it is, after all, as have repeatedly
insisted, primarily depositors' and not
a bankers proposition, though potn
will be its beneficiaries in the end. The
bankers and depositors alike, there
fore. who are in favor of this PROPOSE
ton, should also get busy ana elther
write, wire, petition or come ana see,
their representatives and senators IN
reference to this vital matter. l am IN
receipt today of lengthy petitions from
Jefferson county, Norton county, Els
worth county and Smith county, pray
ing for the enactment of this guaranty
law The petition from Smith Center
alone contains the names, SO the writer
says, of nearly every business man IN
town.
AS further contribution to this con-
troversy, I wish to say that the letter
which it was alleged by all. the daily
newspapers by press dispatch from
Washington. was sent to me on Mon
day by Comptroller Ridg1ey, has. not
yet arrived, but have received. a copy
of the following telegram sent. by. Sen
ator Owen of OklahonR himself a
prominent national banker of that
state, to the governor of Oklahoma,
under date of January 20:
please rush national bank concrete
application to comptroller of currency
for permission to avail itself of state
guaranty provision. We can then get
decision Of attorney general. and, if
necessary, may get congressional re-
lief
E. w. HOCH, Governor.