Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1908-08-28
Bryan Urges Merits Of Okla
homa Scheme in Kansas
Where Both Great Parties
Have Endorsed It.
CLAIMS MAJORITY OF
BANKERS DESIRE IT
Scores State Republicans for.
Inconsistency in Working for
Taft and Sherman While
DiSagreeing With Platform.

DlodSl OOlllS WIN ! ldlIOlllh
IBy Morning Journal Special Leased WIrel
Topeka, Kan, Aug. 27.-Before an
audience which filled the Auditorium
to overllowing, w, j. Bryan tonight
spoke on the subject of guaranty of
hank deposits Previously he had de-
livered three other addresses, two from
the veranda of the hotel and the third
at Garfield park, where he attended
a picnic by the Knights of Pythias,
his latter theme being "Fraternity."
The democratic candidate and his
party arrived here at o'clock and
We're at once taken in hand by a re-
ception committee composed of lead.
ing democrats of the city and state,
and conducted to the hotel in auto
mobiles. A great crowd greeted Mr..
Bryan at the station and at the hotel.
AS announced by him before his de-
parture from Kansas City, Mr.. Bryan,
in view of the action OF the Kansas
republican state convention. which en-
dorsed the guaranty of deposit propo-
sition, made some remarks supple
mentary to his prepared speed on that
subject. He took up the advantages
of the guaranty system and then an
swered the oh ,ections made to it by
Mr.. Taft ana Athers He 'began by
asking why the depositor should ba
left unsecured when the national gov
ernment demanded security Of any
| bank with which it deposited money.
He pointed out that the choice was
between the postal savings bank and
the guaranty bank, and accused Mr..
Taft of favOring an unnecessary eX-
tension of the sphere of government
in advocating the postal savings bank
instead of the guaranty bank. Mr..
Bryan declared that he preferred the
guaranty bank proposition, which
would allow the banks to attend to the
banking business and yet compel that
they give their deposltors necessary
security.
Upon the conclusion of his prepared
speech Mr.. Bryan said
81 asked Mr. Briedenthal, a banker
of Kansas City. to make inquiry among
the bankers of Kansas and ascertain
what proportion of them favored the
guaranty law. | learned that of the
bankers that had expressed themselves
on this subject about three-fourths of
them favored a guaranty law and one
fourth opposed it. This is an excellent
showing. Among the depositors there
IS no opposition at all and 1t Is evil
dent that the Kansas bankers recog
nize first, that something must be
done, and second. that the guaran-
teed bank is better than tie postal
savings bank. / also inquired OF Gov
ernor Haskell in regard to the num-
ber of national banks which have sur
rendered their charters and become
state banks in order to have the bene-
fits of the guaranty system. I have
telegram from him saying that four
national banks have already made the
change and are operating under the
state bank laws and that sixteen 9TH
er national banks have applied for
state charters. This is conclusive PROOF
that the Oklahoma law Is a success.
A national charter Is supposed to
have some advantages over a state
charter. and the benefits of the guar
anty law must be admitted when
twenty national banks will in a short
time change from the national sys-
TEN to the state system in order to,
give their deposltors the advantages
furnished by the guaranty system
"Since the preparation of my speech
on the subject, the republicans Of Kan
sas have held a convention and adopt
ed n platform. The republicans pro-
pose to enable the state banks tOI
mutually and voluntarily guarantee
deposits. But that is not enough.
Suppose that the banks mutually
agreed not to do It. Must the de-
posltors be left unsecured?
"The Kansas republican platform
also requests the republican candidates
for congress and united States senate
TO favor a law In aiding a national
bank to participate in the proposed
mutual and voluntary system. But
| what chance Is there Of securing such
law when the republican national
convention refuses to pay any atten-
tion TO the subject and when the re-
publican candidate opposes the whole
principle of the guaranty Mr.. Tafts
denunciation of the guaranty system
is so sweeping that no disinterested
person can for moment believe that
, he will either encourage or permit a
law enabling national banks to par
ticipate I'm state systems What the
people need is a system whereby both
state banks and national banks viii
be compelled to guarantee deposltors
and only democratic victory can Sc
cure this reform. With a democratic
CONTINUED from Page 4; Column ~
president and a democratic congress Il