Bluefield evening leader. [volume] (Bluefield, W. Va.) 1906-1911, 1908-08-27

Topeka. Kan. Aug. 27.-william
j. Bryan delivered one OF the prin.
cipal speeches of his campaign here
today. the subject selected being the
guarantee OF bank deposits as enun-
ciated in the party platform. MIR.
Bryan considers this issue a highly
fmportant and vital one and be-
heves that it will appeal to thous-
ands OF Republican and independent
voters. Ii is stated that a move
ment has been set on foot to form
a national campaign organization OF
persons who have lost money
through bank failures.
Democrats from all parts of Kan
sas began pouring into the capital
this morning to greet the candidate
and the Nsbraskan was given n
great ovation when he appeared on
the platform to deliver his address.
Mr.. Bryan said in part:
Mr.. Chairman, Ladies and Gent
lemen.
Why not make the depositor Sc.
cure? The United States govern
ment requires the deposit OF specific
security when It entrusts money TO
a national bank, although IL can ex-
anime the bank at any time; the
state requires security when It de-
posts money in a bank: the county
requires security and the city re-
quires security; even the banks re.
qulre security from the officials
who handle money. Why should
the depositor be left to take his
chances?
Not only is the depositor with
out protection, but the security Civ
en- to nation, state, county and city
lessons his security. They are pre-
ferred creditors; they have a mort
gage on the gilt edge assets and the
depositors must get along as best
he can with what remains. why
are the interests of depositors thus
neglected?
A bank asks depositors on the
theory that the depostor is sure OF
the return of his money, and the
laws ought to make the facts con
form to the theory. The depositor
the community and the banker him
self will be benefited by legislation
which will give to every depositor
the assurance that that which IS
committed TO the keeping OF IN
bank will be available to meet his
needs at any time. Such is not the
case today, for while all banks are
reasonably secure. they are not alb
solutely so. This statement can DC
verified in several ways.
First: The President has advo-
Gated postal savings bank, and
his postmaster general. in present
ing an argument in its favor. point
ed out that many millions are sent
TO Europe savings banks every year
by Americans OF foreign birth who
prefer to trust the state institu-
tons of the nations beyond the sea,
rather than the private banking in
stitutions here
Second: It is known that a con-
siderable amount OF money is in
hiding, the amount increasing with
the approach OF panic or business
depression. This money is not only
withdrawn from active use. but is
likely to be Withdrawn just at the
time when money is most needed
and when the withdrawal will in
crease the financial disturbance. II
IS impossible TO reason with fear;
IL is futile to tell men that they will
probably get their money. The
moment the depositors suspect a
bank they hasten to destroy its SOL
vency. Distrust. and jistrust alone.
can explain the hiding of money.
Third The increase in the issue
Of money orders. payable to the or
der OF the purchaser. is another
evidence that people are eeking
greater security for their money.
The banks will pay an interest upon
deposits, and yet those who buy