Mexico weekly ledger., 1908-10-01

1r the Democrattc aFlngs /
s~uertnteed bank beoan.p party pref.,'
tee nepositor and bettar y Is beiis.
eltes ule deposition ~ iof the b,s.
~ noeus and yet leaves \. Security :.
nSss m NE hands or X tue bankinp 4.
egmocratic platform A.. panks. Bsss
saFlngs bank II the ies for
nnvt DC secured. T" az fuaranteed I
n11e unun ninety per m Nova,
VIII py their ballots Ssll Of The ~
fu1.Anteed bank Or fbeniAnd eithap
penh. Can the ananciee postal a.,
out OF this De- preyent :
me Republican Ia,ssIiandi
thto detail, but II Ii fsSr does ma,
ule POSTAL savings banb 20 ASSUME I
~ ~ an Endorsement ~ PUNK Is M
nlss nailk system prone. sne postaI !
ornt ana postmaster-ecnNr oy tie p,
piah the Federal goVsrnre- Under
rtse tne deposit OF savi,nent Would
nle paced upon the ass a limlt
pefsgn or each family ca~9llht that 4
cvfuinB TO this plan tbel DEPOSIT /
nou,u not be protected DuslaeN n
cnecklhg account instesa 10y be ~
Mccouhti but no one can ol a an
s~uccessLul operation Of ! uouht tha h
lnes Dank would ulfi,os syvernmeul y
extension OF the plan rssH Lead III
ment Dank would ineb1Hel the eu.l
cneciung account and 10 ue ofd,1
without limit. 1t wouId 'pen to dsnl
contest between the mean IL
nankers, but a contest whssittors and
ena pc decided on Tia IA, w must d b
p~ositors. The bank nnss sius Of ths /
iore, whether he Will fa1o ueede ~
lnss pank which, IN ths Z poStl
guaranteed bank, will @osenee II +
soros 2 banking bnsi5asn undl I
.ne present system OF banS Or pnS<
70 tne people, through a as by 81
ene projection which thsye uatany I
wise nnd IN a g~overnmen, must "a
Ine democratic plan. tbs Sahk
Tempiates a less radical chSeietoIs I
pupiic plan. In bis nal
speecn Mr.. Taft charged 1ottazt
Win peing socialistic in se Denor
remeales. The charge w Sosae q
tounoeu. but l might rani, not =
MN with advocating an my W ehu7
OF the n0VeSsaI
activity IN the establjsbmans spnen
SAVINGS bank, when IN VI
o9nk would answer the suaH11
wienoul = considerable incrae pq
nulhper OF government emnlovss u
,atnSr e n banks attend ~
~ business than to have 1, ue
70 me government, and becsrsusa 9aa
- nave the banking bi1sInsss
Sne uhnks rather than by IN So, uuae
urge the guaranty OF ey.eEnu
easiest solution OF our diTicrials q
Inere are only 20,0O0 han.ueA
mere are 10, 900, 900 deposltnra
Y hesitate 10 declare that Il ~
oetWeen n two, the depos,to-sa ~
pIlor calm to consideration ~ n1l
nsaes .he average number al sto,hIh.
" etch pank at seventy-ive-s 80 "
y lsDerai estimate-the total rS.u y
stocknolders would only 10 I n ngni4ps1
. mar, or one-tenth az man. asa
IRE uepositcrs. The stoekboidsr
Compelled 10 buy stock. Will y
positor Is compelled 10 uss H. ue
NUN Q mis- own sake and "a M
of the community, for only bo NJ
uanhs can no keep his money
lne circulating medium Tha wv
iaws therefore, brings the 9rs.t ~
70 the greatest number. AZ psii' ~
side. eQuity upon
There is another reason wbv IA.
ot the deposition is superior Il W.
OF tne st0ckholder. Tho gtoctheis.s
a voice In the selection Of a.
OFFICIALS the deposltor has not 70
~ must lose, therefore as Il.
o. nad MANAGEMENT, II ought N ~
stocknoluer rather than the denol
ana, ! venture 10 ask, II tho banLsr1
not trust each other, why sbonlS
expect the depositOra To trijst M X
We are fortunate, however in M
are not compelled TO choose batwaae 3
ice y the deposition and jastios
s~tucklolner, for, ms has been Show
lore, inc plan which we nroposa not
uoes Justice 10 both, but brings 4
uaHe 70 both. More than that ira
when we propose protects the bau
huu " " his only protecti0n-agalns
establishment of a government
with Indefinite encroachments unon
Danker's business, With the quaint
Dank established, government "a
banks would only be needed In INA 4
ana villages where there were no gul
teed banks.
There ~ another advantage vheh
guaranty or depOsltOrs brings 10
banks-ir protects the reserves dend
~ other banks. During the panic las
M reserves caused the most Of
trouble. The small banks wante e.
Withdraw their reserves from the
banks. and the big banks in the 81
We're not prepared to meet the 81
With deposits guaranteed, there w0u
runs on local banks and no sd e
withdrawal OF reserves.
| have selected the capital Of the Z
OF Kansas as the most appropriate
Tor the delivery Of a speech upon
subject, because your neighboF upor
south has been a pioneer in this rel
Her plan, as you know. has been -
a signal success that deposits have E
drawn across the line from your
Oklahoma. The alarm caused
this invasion of your banking teri
caused your governor to include
call for a special session a rec0mma
ton of the passage Of a law simil
that of Oklahoma, When the legisl g
met, however. the influence Of the
banks was sufficient TO prevent the
ed legislation, and your state still sI
The people OF Kansas have had y
ject lesson; they know the n~ecessiqt
a law guaranteeing deposits. They
seen its beneficient results in
they have seen fifty-four "a
banks taking advantage Of the STAY
and reapipg a rich reward
made inquiry and find that many
bankers favor the adoption Of a qua
Observation-Disclosures Of those WY
have declared for the guara
bank. They have heard the g
blow that has been struck az VI
.ional banks of Oklahoma by me
ley-generaPs ruling, which denies %
banks the right TO share In the %
lf the state guaranty s~ysten-lhsl
being the surrender OF charters
-ional banks which prefer to become
ranks rather than surrender the e
II the guaranty system. -Four nal
banks have surrendered their W.
md are now conducted as stale
While sixteen more have applied ior
;harters. Your people have asp
the Influence Of q few DIG
concentrated upon n legislature "
eat the wishes OF the smaller oansZ
he desire OF the depositors all |"
tate. -
| submit that in this effort to pa
lanks secure, the Democratic w
he champion OF the farmer, the
ng man, the business man. we
ilonal man, the champion OF M
- we'll. No class Is outside OF w
Its Of this law, for II bestows us
nss upon all.
Why has the Republican parry
Inick TO respond 10 the denlahns
treet and so slow to Yield 10
hands OF the masses? There
easons. first. the Republican ~
.llowed itself to become tne ssd