The Robesonian. [volume] (Lumberton, N.C.) 1870-current, 1908-10-29
GUARANTEED BANKS
The Democratic Plan for Securing Bank Depositors
Simple Practical Method That Will Secure the De.
positor, Establish Confde nce Prevent Panics and
Keep Money in Circulation.

tell YOU that ninc-tenths of Il is fur
nished 10y the individual depositOrS-
Then ask him If these individual de
positors are secured and he will say
oh, no, they are not insured; they get
no security or guarantee.
Is that fair? Is it the correct prIn-
ciple. Is it the wisest policy? MI
Bryan says no, the Democratic party
says no. Every panic that happens
every money scare that occurs-every
frightened dollar that's in hidiL-;
every uneasy depositor-they all, IN
acclaim that is loud and growing
louder, say that it is neither a correct
principle or a wise policy. Every
clearing house certificate and every
cashiers check that went out upon
the financial furry year ago was
warning that neither the principle or
| the policy is safe, sound or fair.
Every declaration on the part of Mr..
! Taft or any of the Republican leaders
in favor of postal savings bank or
other government method of currency
concentration is a warning to business
men, tinanciers and the people every
where that this diseased spot in our
| financial system must have safe ana
| effective treatment, if 4 steady flow
! of our currency into Wall street and
! other money centres is to be averted
And what's the matter with the
method proposed by the Democratic
/ party? IT. is practically the same
! cooperative principle that the in
/ Surance company adopts to enable it
TO pay the loss sustained by the burn
| ing of the bank building. or the death
| of the banker whose life is insured
It's the same principle upon which
the State raises a fund for the build
| ing of schools and educating the Chi
| dren, weak and strong alike without
discrimination. Do away with this
principle of taxing the strong for tie
benefit of the weak and you would de-
stroy our system of government, both
State and national
But AIR. Taft says it is q wfld-cat
| proposition. He did not say that unit
he got close to New York. Out ~
Kansas and the Dakotas, where his
party has adopted the plan in their
State platforms, he said nothing
about it being a wildcat proposition.
Out in Oklahoma, where the plan Is
in successful operation and almost
universally endorsed by his own party
| and where only one out of five hun
drcd and twenty banks have failed
since the plan went into operation, h.
would not think of saying anything
about it being a wildcat proposition.
If he cid the first banker he n
| would tell him that between the dat.s
of February II and July % the indr-
| Nluudi deposits IN the secured bar. rs
III Oklahoma increased more than
$4.000,000 while there was a decreaso
in the unsecured banks of more than &.
2 million dollars. This Oklahoma bank
er whether Democrat or r.
publican, would tell him that betwecu
the dates of July %, and October s.
of this year, just 20 days. notwl-.-
: standing the continuance of the IL
: publican panic the individual depcz rs
Ill the protected banks in Oklah5ma
increased over three million eight hum
dred thousand dollars These O- IT,
hofna bankers, merchants, coal nj, Is
and men of all dealings would tell ID
| that there were no frightened do r.
or even dimes in Oklahoma and u
instead of the money flowing o. &
: oklahoma into the money centers Il
! 1t is rapidly flowing into Oklaholr 10
! secure the protection furnished D. q
PLAN which Mr.. Taft says-whcu lie
gets near Washington or New Yol. -;
5 a wildcat scheme. But Mr.. Taft ID
2 | some of his sympathizers say thu he
z plan would invite into the ba- =
: business unreliable, unsafe and W "a:
s banks and bankers. which is &c 7-
t lent to saying that the nationa. II
e state administrations are goiu- 70
i nave no more sense than to go I'M II.
y business of chartering, iegalizir- nd
u turning loose upon the public a q.
Wild unreliable and irrespu e
I banks and bankers. Mr. Taft al IL
[ party if they are kept in z 81
e might do this. but Mr.. Bryan al ~
$ party never would.
Il f E. ARENpT