Goldsboro weekly argus., 1908-10-29
GUARANTEED BANKS
The Democratic Plan for Securing Bank DepOsitors.
Simple Practical Method That Will Secure the De-
positor Establish Confde nee, Prevent Panics and
Keep Money in Circulatio n.

tell you that nine-tenths Of it is fur
nished by the individual depositors-
Then ask him if these individual de-
positors are secured and he will say
oh, no, they are not insured; they get
no security Or guarantee.
Is that fair? Is it the correct prin-
cip1e. Is it the wisest policy? Mr..
Bryan says no, the Democratic party
says no. Every panic that happens
every money scare that occurs-every
frightened dollar that's in hiding;
every uneasy depostor-they all, in
acclaim that is loud and growing
louder, say that it is neither a correct
principle or a wise policy. Every
clearing house certificate and every
cashiers check that went out upon
the financial furry year ago was q
warning that neither the principle or
the policy is safe, sound or fair.
Taft or any of the Republican leaders
in favor of postal savings bank or
other government method of currency
concentration is a warning to business
men, hnancierS and the people every
where that this diseased spot in our
| financial system must have safe and
| effective treatment, if a steady flow
! of our currency into Wall street and
other money centres is to be averted.
And what's the matter with the
method proposed by the Democratic
! party? 1t is practically the same
/ cooperative principle that the in
surance company adopts to enable it
! to pay the loss sustained by the burn
/ ing of the bank building, or the death
/ Of the banker whose life is insured.
/ It's the same principle upon which
/ the State raises a fund for the build
| ing of schools and educating the chill
dren, weak and strong alike without
/ discrimination. Do away with this
I principle of taxing the strong for the
| benefit of the weak and you woud de-
stroy our system of government, both
1 State and national.
But Mr.. Taft says it is a wild cat
| proposition: He did not say that until
! he got close to New York. Out in
! Kansas and the Dakotas, where his
| party has adopted the plan in their
/ State platforms, he said nothing
about it being a wildcat proposition.
/ Out in Oklahoma, where the plan is
in successful operation and almost
| universally endorsed by his own party
i and where only one out of five hun
dred and twenty banks have failed
since the plan went into operation, he
would not think of saying anything
1 about it being a wildcat proposition.
| If he did the first banker he met
/ would tell him that between the dates
/ of February IL and July 25 the in6li-
/ vidual deposits in the secured banks
/ in Oklahoma increased more than
i $4.000.000 while there was a decrease
in the unsecured banks of more than
million dollars. This Oklahoma bank
L IL
/ publican, would tell him that between
1 the dates of July Is, and October 6,
j Of this year, just 10 days. notwith-
standing the continuance of the Re-
j publican panic the individual deposits
in the protected banks in Oklahoma
/ increased over three million eight hun
4 dred thousand dollars. These Okla
i Iloma bankers, merchants. coal miners
| and men of all dealings would tell him
that there were no frightened dollars
i or even dimes in Oklahoma and that
instead of the money flowing out of
Oklahoma into the money centers, that
it is rapidly flowing into Oklahoma to
secure the protection furnished by a
plan which MIR. Taft says-when he
4 gets near Washington or New. 'York-ls
I a wildcat scheme. But Mr.. Taft and
I some Of his sympathizers say that the
3 plan would invite into the banking
4 business unreliable. unsafe and wildcat
7 banks and bankers. which is equivo-
4 lent to saving that the national and
Il State administrations are going to
q have no mere sense than to go into the
business of chartering, 1egalizing and
Iturning loose upon the public lot: of
Il Wild, unreIiab1e and irresponsible
81 baa1lzs and bankers. Mr.. TAFT and his
81 party IL they arc kept In power,
nf8tt 10 this hut Mr.. Bryan and his
slparty never would