Omaha daily bee., 1908-12-13

uonsl provision, as there are some defects
in that measure. he advocated more sub
treasures. which would provide for greater
elasticity OF the currency. and more bRnl
examiner. thus securing stronger instftu-
lions. There is now on deposit $40 coo,
0B0, O0A," he said. We would place q tax
Of one-tsuth Of ] per cent On this. which
world raise a fund Of $4,000 coo. certainly
enough TO pay the net losses OF failures"
You might az wei guarantee the Law
yers fees, the doctors bills OF the mer-
chants accounts, as 10 guarantee 70 the
ospositor that he win get every cent % his
deposit Immediately In case Of a panic, "
then declared Harry Drucker. the neri
speaker for Omaha He showed that II
would be unfair TO make the old banker,
tried and true, Responsible for the short
cominEs and failures Of the new man, who
might enter the business for speculative
reasons with no sense Of honor. feeling se-
cure with the government back Of him. AS
regards the demanding o. q guaranty BY
those placing government funds on deposit
he showed that in this instance the ind
viduRl hank guarantees to the individual
while under the proposed iHw al the bRnkI
you'd be compelled TO give q guaranty &C
all the people.
0NAmDnEe OF me Law
The last speaker for the affirmative
Richard Stout. gave four Advantages Of
the proposed law: prevention Of runs on
banks. attraction Of new deposits, securing
q government deposits. and the com.
pletion Of currency elasticity. He said thai
other bankers. by reason Of being com
PEELED 10 pay q tax into the guaranty fund
: would watch their fellows and prevent
failures; that money now kept IN safety
deposit vaults and stockings would be
placed On deposit and thereby IN ctrruls-
ton: thai the law would make more sub
treasures with government funds; and
hat complete elasticity wuuld result from
increased circulation
Fred Carlson was the last speaker f0l
the negative and he declared that thi
proposed Law would be demonstrations
in thar II wound be class Legislation. re
sulting IN the tearing down Of the s0unt
structures compelled 10 pay = tax to kNe;
afloEt speculative, weak institutions Ne
positors would not discriminate In In.
future and by reason % the guaranteeing
Of funds in al banks they would naturally
20 10 the nearest and plAce their oepositl
IN Ndld cat institutions. where they wUu1s
be frttrsred away In stock gambling. IN,
sound banks would then have 10 maxi
good the loss Such a law would cause
Lot deter, rash speculation" he said Tn
speaker read a number o. letters iron
prominent bankers 10 -sunsrEntizts III
point.
Harry DrucEsr for Omaha and Yer,
Bates for Lincoln were each given nv.
minutes II the close for rebuttal ana N,
case Was then gwen 10 the judges. WI.
r~srurnsd q verdict in favor Of Lincoln.
Before the debate, Frederick Mcconnell
read the result Of the composition berwee'
the high school classes In The sale Of foo
ban tickets during the Season. the state
ment showing that the Junior class woi
by an excess sale 4 ~ tickets. Tn
juniors sold L8G tcketE. the seniors. %.
The BOphum0rss. S74 and the freshmen. &C:
a total Of 2,7W tickets, which brJuKh1 i
s6ss-& for the high school athletic fund
DIT. Davidson then called Edward Bur
dick president q the class, on the Ia
form and IN the name Of the tArulr
presented him with a banner for the Gas
in recuEuitun Of the work done.
IN high school orchestra played severn
selections n Iu1srrEls during the ersuin
and the girls sang 3 class song a eoupl
Of times