The citizen. (Frederick City, Md.) 1895-1923, 1908-09-18

brought to competent understand
ing of its rights aud privileges.
The entire national bank exami-
nation system is predicated upon
the supposition that the exami.
ners will discern faulty methods
and cause their correction in time
to prevent failure or embarrass-
ment, and were the system man.
aged to this end, there would be
small occasion for calling for the
enactment of a guaranty fund
law. 1t is the fact that the sys-
TEN of examination is not able to
prevent failures. added to the re-
markable demonstration of rot
tenness in the management of such
institutions, that gives rise to the
/ demand for this law.
In the last year it has been
proved that national banking
methods may be ihoculated with
the virus of the wild cat. Out Of
such demonstrations last fall
came the runs on the banks, the
succession of bank failures, aAd
the disastrous panic. Had the
depositOrs known that no matter
what would be the fate of the in
stitution, their deposits were SO
cure from loss the lack OF conf
dence which gave birth to the
panic could never have been gen.
Grated. 1t is to give this con.
fidence 0nsle Democratic party
is pledged and the enactment of
a guaranty law, would not only
hold depositOrs safe against loss,
but it would make impossible
such a panic as has held the
country in its throes for the last
ten months. And just SO long as
the government assumes to reg
ulate and supervise the main
branch of the nations banking
system, just so long will it owe it
as solemn duty to protect the
national banks against loss.
What matters it if the bankers
profits are slightly reducedi
They are already earning a heav-
ier percentage with greater regu-
larity than is the capital repre-
sented in any other enterprise.
What is fish for the Govern
ment should. by every rule Of
square dealing, be flesh for the
people, since the government be.
longs to the people. And the
government takes no chances
with Its money. Before it depos-
lisa penny with any of its own
controlled national banks, it re-
quires the depository bank to
place in its hands government
bonds to protect it against the
loss of the deposit. This policy
which is pursued by the govern
ment is insurance of deposits
with vengeance, for instead of
a small annual tax, the national
bank receiving government de-
posits must invest its money In
government bonds at the lowest
prevailing rates of interest, de-
posit those bonds as security with
the governmental depositor, and
besides pay an interest on the
deposit If insurance of deposits
is justified in the case of the gov
ernment, it is certainly justified
in the case of the individual
depositor, and the Federal Gov
ernment, which has all the power
in the premises, cannot very long
dodge compliance with the de-
mand which Is voiced in the
Democratic platform. Mr.. Mey-
er's suggestion that the prop
ositiOn is vicious because it
involves tax upon the savings of
the wage Garner and of the person
of moderate means has its answer
in this: The depositor will every
time prefer to see the bankers
profits slightly reduced in order
that he may be saved against loss
to facing the prospects of loss in
order that the bankers profits
may be kept at excessive figures.
Mr.. Bryan has the Republican
party on the hip on this PROPOSE
tiOn, and it will have 10 advance
better arguments than it is put.
ting forth now, or it will be made
the victim of an expression Of
public sentiment on election day.
-NeUada Mining Neus.
Serious Fire at Williamsport.
The most disastrous fire that
has occurred for years in Viii