The Montgomery advertiser., 1908-08-28
GUARANTY OF BANK DEPOSITS Bryan Speaks at Topeka.
 Kan. ANIMMENsE AUDIENCE PRESENT Favors Guaranty Bank Over Postal
 Savings Bank. Accused Taft of Favorins an Unneces- ssry Extensios of sphere of Geyernment in Aavocating
 Postal Savings Bank.
 

audience which. filled the Auditorium
 to overfowing. W. J, Bryan. Demo
 cratic candidate for President. to-
 night spoke on the subject of guaranty
 of bank deposits.
 Previously he had delivered three
 other addresses two from the varanda
 of the hotel and the third at Garfeid
 Park. where he attended picnic by
 the Knights of Pythias. his latter
 theme. being 'sFraternity."
 The Democratic candidate and his
 party arrived here at o'clock and
 were at once taken m hand by the reception committee, composed of lead ing Democrats of the city and State. A great crowd greeted Mir. Bryan at the station and at the hotel.
 As announced by him before his de- parture from Kansas City, MT. Bryan, in view of the action of the Kansas Republican State Convention, which in- dorsed the guaranty of deposit propo- sition. made some remarks supplement tary to his prepared speech on that subject. He took up the advantages of the guaranty system, and then an- swered the objections made to 1t by Mir. Taft and others. He began by aslxing why the depositor should be left unsecured when the National Gov ernment demanded security of any bank with which 1t deposited money. He pointed out that the choice was between tlle postal savings bank and the guaranty bank, and accused Mr. Taft of favortng an unnecessary exter- sion Of the sphere of Government in advocating the postal savings bank in stead of the guaranty bank. MT. Bryan declared that he preferred the guaranty bank proposition. which would allow the banks to attend to the banking business and yet compel them to give their depositors necessary se- curity.
 Upon the conclusion of his prepared speech. .MF. Bryan said:
 An EExceilent Showing.
 T asked Mir. Brendenthal. a banker
 sf xansae City, to make Inquiry among fifs bankers of Kansas and ascertain what proportion of them favored the guaranty law. learned that of the bankk that had expressed themseives on tlsls subject, about three-f fnuFthe ef them favored . guaranty law aud one fourth opposed 1t. ThatSs an excellent ahowfna Among the deposttors there IA no opposition at all and 1t is evident that the Kansas bankers recognize. arst, that something must be done. ana. second, that the guaranteed bank Is better than the postal savings bank. f also inuuired of Governor Haskell in regard to the number of national banks which have surrendered their charters and heconae State banks in order to have the benefits of the guaranty sys. tenn. I have telegram from him say ing that four national banks nave ai- ready made the change and are operat- ing finder the State bank laws, and thas saSteer other national banks have ap- niIrd for State charters. This is con clusIve proof that the Oklahoma law 10 . suecess 4 national charter IS sup s..ad "a have some advantages over a Ststs charter and the benefits of the guaranty law must be enormous wnen twenty national banks will. In a snort time. change from the national 70 the S4at, svsieyn in order to give their de- positors the advantages iurhiSheu Us the guaranty system. o.h
 "Since the preparation of my speeSns son this subject. the RepuDncsps .S M Kansas have held conyenIIon anS anS au the auaranty of banks Is .recogni. tIor of the necessity for security put tha nlank ts so worded as to De pIac- ticaiiv useless so far as the protecslon ar the people is concerned. The Ne nubIicans propose to aid tne ,,s', s hanks to Mutually and voluntarily guarantee deposits. but tnat IS san%s s snonsh. Suppose that the banks ,,a,,tnally agreed not to do it. Must the danositor be left unsecured In the Knnsas Republican platform also re- cuire the Republican candidates Tor corgress and the United States Senate to favor a law enabling natIoha, hank to participate in the proposes mutual and voluntary system. Sut ,,-bat chance is there of securing a law ,vhsn the Republican national conven- ton refuses to pay any attention to the s,,htect and when the Republican can didsta opposes the whole proposition of the guaranty. His denunciation or the guaranty is so sweeping tnat no person can believe TOT n minute that he will either encourage or nermit law favoring national banks to ,,s rt,cinate in the state system. What fine people need is a system whereby hoth atate banks and national banks yUiII he compelled to guarantee deposi- tors and only Democratic victory can secure this reform. With Demo- cratic President and Democratic con gress 1t vii be easy to secure the aaop- ton of a system which will make noeh state and national banks secure.
 nemocrnttc Platform EndOrsed.
 And. speaking of platforms, am glad 10 call attention to the fact that the Republican platform adopted Tn Kansas indorses the Democratic plat form on two important questions First 1t favorS the eieclloH ot soha- tors by direct vote of the people reform which the Republican national rejected by vote Of seven to one and which MT. Taft has never advocated but once and then only in a halfh earted way. In his notification speech he said that personally ha was Inclined to favor such law, but it required more than a mere inclination the law to secure such re- form.
 Another plank indorsing the Demo- cratic platform Is to be found in the of the present rules of the House and in the demand for a modification of the rules. This Is the position taken by the Democratic Ma tional Convention and It Is gratifying to know that the Republicans of Kan sas have supported us In the position taken. But what shall we say of the condemnation of the Vice Presidential candidate. Sh erman? While MT. Sher- mans name Is not mentioned. he is SO prominently connected with the present rules of the House that the Republican platform on this subject