The Falls City tribune., 1908-09-04
The New Bryan Panacea

closed Il lew banks and Bryan,
the great opportunist, hobs up
with another paramount, an
other panacea, viz. guarantee of
bank deposits. As free silver,
militarism. Imperialism, etc.
! have all been gathered to their
long rest, so in afew months the
citizens of America will bear
the latest creation of Bryan's
fertile mind to JOIN them. In
the meantime the eternal prin-
ciples of government move on in
their uninterrupted course grant
ing to the people their full meas
ure of peace, happiness and pros
perity.
The Kansas City Star had this
to say of the latest issue:
ut would seem to be the pur-
pose of Mr.. Bryan to make the
bank guaranty question the lead
ing issue of his campaign, at least
III the West. This must be genu-
inely disappointing to those num-
erous voters of both political or
CARNATIONS who believe that the
best interests of the nation are con-
served by the existence and rivalry
of two strong parties, led by men
of mature, sound thought.
"Tht Democratic platform of
this year is calculated to put the
party on a better footing. Its OBJ
jectionable features are incidental
rather than essential. 1t does not
defue a new paramount issue, as
did the other Bryan platforms.
But Mr.. Bryan, who never seems
to be comfortable except in the
role of discoverer, inventor or ex-
perlmenter, has seized upon one of
these Objectionable issues and has
thrust it into conspicuous promi-
nence. The New Bryan" has
promptly abdicated in favor of the
"Old Bryan the opportunist.
"There is no crisis in the bank
ing business to Justify emergency
measures. The reserves in the
banks are exceptionally large. The
outlook is hopeful. Depositors are
not uneasy. Yet the country knows
that there should be-and will be
"a better banking system; that
the safeguards of the depositors
should be made stronger. But
there are convincing objections to
the proposal to compel the banks
to guarantee their depositors. The
Democratic platform demands such
a guaranty, and Mr.. Bryan is bring
ing that demand into the fore
ground.
IF rst of all. it is extremely
doubtful whether a law taxing
sound banks t. insure the deposi
tors of unsound banks, or even
taxing one sound bank to insure
the depositors Of another sound
bank, would be valid. The prin-
ciple involved might have a far
reaching application. Under the
.c%ompulsion plan the collective
banks would partake of the weak
ness of the individual bank. And
if a great panic should come, dis
trust cf all banks would be n
HANGED by the enforced liability of
all banks, for this mutual liability
would not be limited by the assess
ment originally presumed to cover
contingencies.
Whatever merit the guaranty
system has could be utilized, with
out encountering it's most danger
ous features, under the plan coun-
tenanced by Mr.. Taft and proposed
In the Kansas Republican platform
that of voluntary insurance, the
state or the federal government to
provide for the holding of the fund
and the liquidation of depositors'
claims. This method would enable
the insuring banks to guard against
association with and responsibility
for doubtful institutions. And the
care thus exercised through the