The Spokane press. [volume] (Spokane, Wash.) 1902-1939, 1908-10-19
DEADLY
PARALLEL

| NebraSkan with being wind JAM
mer and theorist and especially
is he weak on the plan of govern
ment guaranty of bank deposits. 1t
might be well to quote few lines
from it's editorial page during the
turbulent days of November, 1907,
in which the feasibility of this
bank guaranty plan is lauded in
the strongest English. 1t says,
after a bold heading:
.."Mr. Bryan's Plan Good One.
Every note put out by a national
bank is guaranteed or insured by
the United States government. If
national bank fail it's currency
remains as sound as a gold dollar,
and this fact establishes perfect
confidence in national bank cur
rency. Mr.. Bryan would extend this
safeguard to the deposits Of ma
tional banks. He would have the
government insure the payment in
full of every dollar deposited in a
national bank. The cost of this
insurance to be collected as a tax
from all the national banks"
This editorial further says: "If
this reform can be effected it will
prove the greatest financial boon
ever extended to the American
people. Under it bank panics would
cease. Credit in national bank
would be as good and unquestioned
as a note from a national bank.
There would be no motives for
runs on national banks, and these
tragedies of the present banking
system would soon become dark
and unhappy memory"
And further: THE moral effect
would be tremendous. 1t would i'm
part great impetus to the virtue OF
thrift and economy. Under the ex
listing conditions every severe
financial panic deals terrific blow
to the savings of the people. Men
are led to reason that it is not
worth while to save. That large
element which is inclined to live
up to it's income points to the Ill
fortune of others who lost theil
savings in broken banks and sc
fall back on the demoralizing doc
trine that it is best to spend al
and enjoy. life while you can"
All this is from an editorial o.
the Spokesman-Review, published
Saturday morning, November %
1907.
Behold TIN change in the atti
tude of this papers editorials anC
ask yourselves the reasons for thu
change. Why does it switch ant
at this hour repudiate the yer,
principals and theories which ;
few months ago were good ant
sound? / cannot see how any pub
LEGATION can retain the confidence
of the people and indulge in sucl
wishy-washy tactics as those o
which the Review is guilty. 1t nov
denounces as a theorist and
dreamer, who never did offer any
thing to the public but hot air. l
= it has changed its mind upon guar
anty of bank deposits, why does /
not take the people into it's conf
dence and give them the reasons
whereby its conclusions are reach
ed?
There is another editorial in thu
Spokesman-Review Friday morn
ing, January 10, 1908, under thi'
heading, Fowler Takes Bryan
Plan" Mr.. Fowler, it will be re
membered, was chairman of thu
committee on banking and finance
1t says:
THE currency bill which has
been introduced in congress by
Chairman Fowler of the house
banking and currency committee
has the great merit of providing
for insurance of deposits.
"Mr. Bryan may complain that
Congressman Fowler, like Presi
dent Roosevelt, is stealing his
thunder, but he is doubtless pa
triotic enough to rejoice If his
ideas are adopted, even though he
may have no part in putting then
into effect. If the deposit guaranty
plan should be adopted he will
have the satisfaction of knowing
that his views on this subject have
obtained recognition"
The Spokesman-Review further
shows, by a cartoon on the day
above mentioned, Mr.. Roosevelt
humping away at piano playins
) the different productions of Mr.
! Bryan. The first piece of music IL
entitled "Curbing the Trusts
Written and Composed by w. j
| Bryan" Control of Railroads
: Written and Composed by w. J
| Bryan" inheritance Tax" Writ
ten and Composed by w. ]
: Bryan" Labor Arbitration-Writ
ten and Composed by w. J. Bryan.
1t shows Mr.. Bryan in another
quarter of the room with his last
composition, Government Guar
antV Of Rank DeOOSite " and Mr.