The Montgomery advertiser., 1908-07-29

enormous ezgsnsisn: V. is generally rec. well states that we must have a more elastic ana aaaptaole system to meet manufacturers. merchants and busi- ness men generally must be automatic n operation. recognIzing the auetua- dollar shall be as good as gold. and which shall prevent rather than aid financial strinGency in bringing on a Postal Savings Bank and Its Aavnn-
 Tn. addition to this. the Republican platform recommends the adoption of of course. the sovsrnnent would be- come responsible to the depositors for the payment of principal and interest. U ds thought that the goyernras:Inltt | places much ' monsy oF 1ss Which Sl may De turned into wealth producing capital. and that t will be e great Incentive the % country " ins hsvins msny now sTa no savings bank facilities which are reached By the Postcfffce Department It will ering to every one. however remote feet safety for deposits. with interest gress. which of course the Republican sss ssd n b nS s,sy syogsdss in national banks in the very places in which it is gatherer. or as near thereto az may be practicabie. This Is an an Democratic platform that under the system the money gathered in the country. will be deposited in Wall ssrsst sysr. 0sE bank The system tr,.s Sf many countries successfully that It cannot be regarded longer as s new and untried experiment.
 Collections te Democrstic Proposal to
 Enforce Insurnnce of Bank
 Deposits.
 The Democratic platform recommends a tax upon national banks and upon such State banks as may come in. in the nature of enforced Insurance to positors of any bank which falls. How State banks can be included in such a scheme under the constitution Is left and Federalism SO frequently dtmming the meaning and purpose of the prom ises of the platform. If they come in under such 2 system. they must neces- national control. and so they must real ly cease to be State banks and become National banks.
 The proposition Is to tax the honest and prudent banker to make up Tor the No one can foresee the burden which under this system would be imposed upon the sound and conservative bank cISs OI tno CCuuttl uy UllS OOAAeattVh to make good the losses caused by the reckless. Speculative and dishonest men who would be enabled to secure depos- dts under such a system on the faith of the proposed insurance; as In It's pres ent shape the proposal would remove ali safeguards against recklessness In banking, and the chief, and in the end probably the only benefit would accrue to. the speculator, who would be de- lighted to enter the banking business when it was certain that he could en- joy any prott that would accrue. while the risk would have to be assumed by short, the proposal Is wholly imprac-' ttcabIe unless 1t is to be accompanied by a complete revolution in our bank ing system, with a-supervision so close as practically to create government bank. If the proposal were adopted exactly as the Democratic platform suggests. it would bring the whole banking system of the country down in ruin. and thiss proposal ts itself an ex- national control of q party which will commit itself to sch eme of this na- ture without the slightest sense of re- sponsibility for the practical operation of theslaw proposed. Postal Savings Banks Much to Be Pres
 xeFTed.
 The Democratic party announces its adhesion to thig plan. and only recom- mends the tried system of postal saw inRs banks as an alternative If the new experimental panacea is not available. The Republican party prefers the pos- tai savings bank as one tried, safe. and known to be effective. ana as reaching many more people now without bank.