The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1908-10-15
PUT TING
FOWLER
IN VERY
RA[|
HOLE:
sreelaI 10 1aiiy lender.

speciql to Daily Leader.
Chicag H.. Oct. 15.--ln IA recent
statement by Representative Charles
n, Fowler. Republican, chairman 0f
me house committee en- banking ard
currency made public by the Republi-
can National committee, he is quoted
es denouncing the pan of guarantee
ing bank deposits He declares thai
the insurance of bank deposits is the
'rankest demagoguery" Il doubt
whether there is any one more utterly
and absolutely opposed 10 Mr.. Bryan's
preposterous and ridiculous scheme
for guaranteeing bank deposits, taan
am" said Mr. Fowler.
If Mr. Fowler is c0rrec,iy repC. red
In the statement euapating from the
Republican committee aud those are
the views which he entertains. his
opinions have undergone a radical
Change since last January. and since
the Republican party in COM anton re-.
fused T. endorse the Idea.
On january Sth OF the present year.
Mr.. Fowler introduced In the house OF
representatives bill (H. II. i267Gl the
title of Which was ITO establish
simple aud scientific monetary sys.
tenn, etc. etc. To guarantee
all deposits, etc. etc.
On Jang Wy 27. 1908. Mr.. Fowler
made speech IN the house in wnlch
he denounced the provisions OF the
Aldrich currency bill aud advocated
the adoption of the ideas which he In
c rporated in his measure introduced
on 5anuary Sth On page llii, Cen.
gressiOnal Record. volume ~. part 3,
First session 6Oth. congress. Mr.
Fowler in advocating his own measure
said among other things: Fourth, II
will establish In the United States
treasury such a guarantee fund as Will
absolutely protect all depositors and
thcreby prevent panic and the hoard
ing OF money
On the f-llcwng page In enumcrat,
ing what his bill would do, Mr.. Fowler
said: Second. ALLOW national banks
10 guarantee their deposits By estab-
fishing "a guaranty fund -, the United
states treasury etc, etc"
Continuing bis dicsussion of tie sub
iect MIR Fowler illustrated the ad-
Visibility of man insuring his life
and insuring his house, then he added
1 page ili3l Mr. Chairman, II there is
one reason why this man should insure
his life and that man his home | AS
| SERT THAT THERE ARE A THOU-
/ SAND REASONS WHY THE BANK
DEPOSITS or THIS COUNTRY
SHOULD BE GUARANTEED"
Mr.. Fowler then proceeded T. tell OF
! The disaster not only 20 individuals
but 10 communities which followed a
bank failure. He also gave several
Instances which had come under his
personal observation where large sums
OF money had been Withdrawn from
hanks, and accordingly from clrculd-
| lion, and placed in dep sit vaults 70
insure safety. Continuing he said
1T Is known that thousands upon
/ thousands of foreign laborers in this
country have been purchasing domes.
tic post office orders for their savings
losing interest simply to be safe, as
they would be VITA the guaranty pro
pcsed. and as they know they would
he
! AR Chairman, more than this, the
states are already taking this matter
mp aud Oklahoma has already passed
The law providing for the guaranty OF
depOsilors. The legislature OF Kansas
has been called IN extra session for tho
express purpose OF considering the
I sanle subject, the banks on the south
ern boundary of that state having
complained that they were losing de
lpcsits