The commonwealth. (Scotland Neck, N.C.) 1896-1929, 1908-10-29
GUARANTEED BANKS
The Democratic Plan for Securing Bank DepOSG
Simple, Practical Method That Will Secure the
positor, Establish Confidence, Prevent Pants
Keep Money in Circulation.

The following presentation of tn"
guarantee of bank deposits was pre-
pared by COL +. Il. Arendcn, who
spent some time in Oklahoma, where
the plan is now in successful operation.
lie has investigated and seen the bcuc-
ficcnt effects of its operations, ana
presents its advantages and answers
it's opponents simply, clearly and
forcefull.-:
The Democratic party in its plat
form proposes Il safe, sound, Simple
and economical method of guarantee
ing the bank deposits of the great
mass of individual depositors without
whose money the banking business
of this country could not survive for
q single day. 1t is a practicable, fea-
siblc business proposition. the princi-
pie OF which is being applied every
day to almost every phase of business
and commercial life. A cooperative
plan based on common sense, without
frills or necessary friction. plan that
has riVeted the attention ana won the
support of thousands and hundreds OF
thousands of the brainieSt and most
prominent men Of all parties, ana all
sections OF the country, who realize
the fact that there is a growing de
mand for some practical and effective
method, the provisions OF which vii!
furnish security to the people who fur
msh nnr-tenths of the money upon
which Tho banks of the country do
business.
The p!an proposed by Mr.. Bryan
and embraced in the Denver platform
is simple, sensible. sound.
1t provides for a guarantee fund to
be raised by a small tax on bank de-
posts. t. be paid by the banks and
held in the national treasury. and to
be used only for rc-imbursing the
depoSitorS in case a bank should fail
or Il bank official should squandcr the
depOSitor's money,
That's all there is in it, II simply
proposes to guarantee the depositor's
money, and il carried into effect it
viii do it.
Should the Individual dcpositor Toe
protector" Why not And why should
the banker be the only person and
tie bank the only institution that de
mand the use Of the peoples money
without security?
IF the National Government wants
money, and it frequently does. it will
give to the man who furnishes the
money United States bonds bearing
interest as security. Not even the
government asks for the people
money without security. If q railroad
company wants your money il will
give YOU interest bearing bonds Sc
cured by a mortgage on the railroad
1T cotton mill company wants your
money il will give YOU Il mortgage on
It's mill. If AN individual wants your
money he viii give you as security
Il mortSag" on his home with his
Wlic signature attached, and il lie
'on pay YOU back, principal and in
tereSt, the law provides that YOU may
sell the homo and apply the proceeds
To the payment of the debt. And when
you come to think about il who else,
beside the individual dcpositor con-
hected with our banking system arc
not protected or insured
ASK the president Of the bank if the
ndhk pulldlng. the furniture and even
lle pldte glass windows are insured
alid II ne IS prudent man he will
ecil you yes. Ask him ii the bank Of
tDI"!S are required to furnish security
'"c iaithtut performance of their
60 60 eh1 ne viii tell YOU that each
oie vi lhem is required to furnish
good ara sufficient bonds ro,. mis- ~
u.s. NOR Is this requirement regard
ed as a reflection upon tn bapIsn,,:s
tiot "ttef or ability Ask him if the
oiitIcd States government or tho Stata
~ IN carolina eXacts security for.
one deposits they carry in his ham.
I T ne will tell YOU yes. Ask hin, II
~, heepS ms own life insured and he
W., ~ most likely tell YOU YES, And
iidnE OF them viii tell Won tbat ~.
,, 81 burSlaAy insurance and you
liquid naturally conclude that a,,e,.,.1
fIs anu cN@rNhudN around tbo+
~ I'm, ,> was protect Il and Insured Rut
S'u VIII ask hisi " ~ r,u.uicIn.. IN
money upon which "A. - ~ ~
''i'osS ana makes it, FL. me viii