The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1908-10-14
Bankers Argument Punctured
u * * " " IS S. s. 81 4 II u * 81 " 81 81 M y M M q

That is a fundamental requirement
All the financial genius in the world
combined could not make a bank sue
cessfui unless the people hai conf
dence In IT, That Is the first consider.
alton, II Is the basic fact But not
only is the success OF a bank fundh-
mentally dependent upon the conf
dence of the people, but the very life
Of the banks of this country has depen
ded upon the peoples confidence T.
gel right down to our own city there
isn't a hank in Joplin today but owos
It's existence to the confidence the pe3
pie demonstrated in our banks a &
time when the banks needed thato con
iidence supremely
What was it that prevented tn,
panic OF last October from developing
into the most fearful indust ,Al GAIA.
clysm in our history?
Il was not The Republican party
alleged partnership with Providence
was ,t2
1t was not the wonderful. indescrb
able commercial magic somewhere
mysteriously concealed within tn
Dingley tariff law. was it2
II wasn't The fact that Teddy was
going to nominate Taft for president
was IL?
And il wasnt the sagacity, prudence,
ability and resourcefuness of any
American banker or of all our bank
ers. though unquestionably the policl
adopted by the banks, born of the wis
6om OF bankers, was Il great help.
But The great, splendid, impregnablL
and sublime foriiiicaiion which Dis
aster could neither oyerrun or under
mine, was the poise the good inde
ment. the patriotism aud If YOU please
( the exalted sentiment OF the people.
Sixteen million depositors are con
ing into the court OF equity seckin.
: absolute security for their deposits J.
Z is maxim of the law that he VIII
comes into a court Of equity shal
come with clean hands. The hands o
+ the Sixteen Million deposiiors arr
clean
lf President Roosevclt. with ih
stampede ol last Oclober fresh IN hi
mind and all IFS evil consequence
which still bear down depressingly ~
on industry, viii admit that ther
would have been no stampede If th
people knew every dollar they had
deposit i'm every bank of the countr
was protected, If need be. by all thr
resources OF an the banks that there
could not have been q panic for ID
very reason that there could nave bee
no FEAR OF a panic to give a PAM
birih--if President Roosevelt will ad
nit that much, he viii have admitted
the splendid constructiveness Of thi
equitable. righteous and inevitable law
This law. as The Globe observed
the time IL was proposed by Mr., Bry
an. is the one constructive item o
financial legislation advanced sine
the inadequacy and Figidity OF our sys
tenn OF currency became the theme o
general discussion. II was advance
BY Mr. Bryan al a moment when.
generously refusing to oriticise th
Roosevelt administration he sough
to bring relief to a manacled naioi
And from no other source than Brya
has a constructive financial suggestion
come. We don't suppose Feslus '
Wade approved of the Aldrich-Nrec
land currency law, We don't suppos
that Festus ] Warde or A II Wait
will seriously approve of the propose
postal savings bank system advocated
by the Republican candidate for tn
presidency. but not advocated serious
ly by him, and not proposed sncerel
by his party You Republicans wn
affect TO be terrified because Mr. Brya
once tentatively suggested the possib
ity OF the government going into Oh
railroad business, seem 20 be com
placently expecting the advent OF th
government into The banking business