New-York tribune., 1908-09-27
TAFT TO FORAKER
Continued from first page.


1T gives to every banker" said Mr.. Taft.
however inexperienced and reckless and how
ever small his capital credit without any
adequate limitation restraint and is certain
10 lead to speculation and disaster in instances
enough to Increase hank failures and losses
BRYAN'S ARGUMENT ANSWERED.
Replying to Mr.. Bryan's argument. Mr. Taft
said:
MIR. Bryan says that as the government has
security for deposits in the banks why should
not the individual depositor have security. The
governments deposits usually not CONNER
clal matter, and they usually passive de-
poslts that are not checked out every day, but
are allowed to lie long time in the banks. The
government is rich enough and strong enough
not to give deposits to the bank If II does not
choose TO, and may keep them with entire
curlty In safe of its own. 1t only makes the
deposits for the purpose of releasing the pro-
ceeds OF taxes which are not Immediately neces
sary for the use OF the government and which
1t is in the public interest to have deposited in
order that the money may go back into trade,
out as the government generally makes nothing
OUT or the loan except the benefit to the public
JUS stated; and as the government would be
greatly embarrassed by inability to secure it's
money when it needs it, and the money is the
money OF all the people the statutes require such
security, and the advantage to the bank in get
ting the money and the prestige such to
make it worth while for the bank to give
cur1ty. but If a bank required to give
curity for all its deposits It would require the
investment of all the capital in securities and
banking would cease to be attractive to any one
But the example of the security for deposits
does not justify the proposed system. because
the government gets its security from the bank
that receives the deposit. 1t does gets it's
security from all the other banks in the COM
munity, and they are not required to furnish Sc
curity for that which they do not control or
have custody of, which is the system proposed
by the Democratic platform.
Discussing the working of the system in Okla
homa, he said:
My information with respect to the Oklahoma
system is that it is developing as might be ex-
pected. have a correspondent who is intimate
ly acquainted with the conditions in Oklahoma,
In letter of September D. 1908. in speaking
of the effect of the guarantee of deposit law he
uses the following language:
Conditions in Oklahoma are growing worse than
S Was expected. on account Of the recent decision
missioner has no right to refuse to grant charter
to parties proposing to organize bank AS an in
as many as four banks have been organized. Ap-
bank in one town Of only 40 population ii n ME Men
whose past record proved them to be incompetent
in control Of banking institutions I have knowI-
@esrs He @s1 tn
another town and engaged in the same line of
affairs in such unbusinessllke way that she
homa Territory and started small G stafe bank but
found ne could not succeed and sold to other par
however, he returned and started another state
bank, advertsing that the depositors are secured
under the state guarantee law. and after sixty
6ays ay operation be now owl has M more ret than de-
he purposes to start fifteen new state banks
throughout t the state, two of which have already
been organized and one now doing business
Mr.. Taft's clear-cut argument judicial man
ner and forceful method Of delivery the
sympathy of his audience which enthusiastic
from the beginning, became steadily more so,
and at the close of his speech cheered vocifer-
ously
St Pauls great Auditorium, seating ten thou
sand people, well filed when Mr.. Taft and
his party arrived this afternoon The appear
ance of the candidate proved the signal for a
tremendous outburst of cheering. Mr.. Taft
spoke for some time, reviewing the record OF
the Republican party since 1896 and the
achievements of Mr.. Roosevelt. He said 1t
with pride and pleasure that he pledged
himself to devote all his energies and abilities
to carrying the Roosevelt policies He
pledged the party to honest revision of the
tariff and himself to such enforcement of the
law as would render its violation perilous to
rich or poor.
TRIP THROUGH IOWA.
The morning trip through Iowa. beginning at
Cedar Rapids early this morning and ending
at Mason City. characterized by the same
large and enthusiastic crowds which made yes
terday notable in the history of Republican |
campaigns. Old and experienced politicians de-
clare that their state has before turned |
date for President or shown such delight at |
seeing one No little credit is due to C. F. |
Frank. chairman Of the Republican State Com
mittee, who has a card index of his organza- |
ton and an organization itself which amounts |
practically to twenty-five hundred committee |
men. Mr. Frank, through this organization, |
spread the news broadcast that Mr. Taft was |
to visit the state and gave the places and hours |
of his stops. which seemed all that was neces- |
sary to bring out tremendous crowds. The trip |
was so planned as to take the candidate through |
eight of Iowas eleven Congress districts in |
Guiding the 1st, I'd and 9Th. the only districts |
not surely Republican. The 18th District will |
be visited when the candidate reaches Sioux
City
COMPLIMENTS TO GOMPERs
To audience of laboring men at Waterloo |
Mr. Taft paid his compliments to Samuel Com
pers In the following vigorous language:
Mr. Samuel Gompers has already delivered the
labor vote to the Democrats, and that makes 1t
rather hopeless for one who is struggling for the
Republican party to deal at all with the labor
question. He to have removed IT from
doubt by carrying the vote in his pocket He
leaves no place outside for me- Now venture
to think that the laborng Of this country
think for themselves and have an intelligence
that enables them to take their own Judgment
as to the party and the candidate whom they
select 1t is rather a cheap method of attacking
a candidate to say that he is opposed to labor
that he is in favor Of expressing and tyrannizing
labor and that he has nothing In his heart that
with labor The only way you can
meet that is to say that IL is not so, and that !
is what do say ] yield to no man in nv svu- |
pathy with labor a class. in its efforts to
organize to make itself properly a power in the
to maintain its equality and it's level
in the struggle for life and in dealing with
capital on those issues where it's interests and
those Of capital opposed.
Senator Clapp. of Minnesota, Joined the party
early this morning, and at Albert Lea Repre-
sentatives Davis and Stevens boarded the train