The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1908-09-29

and the railroads conform to the law,
and then the prosperity that we have
Will be honest prosperity. It will be
prosperity in which we can all joiri.
and this injustice that has arisen from
undue discrimination will disappear.
I thank YOU"
Big Crowd at Fargo.
Fargo. N. D., Sept. 29.-Thousands
OF people greeted William II. Taft on
his arrival here last night from Grand
Forks, enthusiasm being rampant
during the entire evening. Because of
the cold night, Judge Taft spoke for
only few minutes out of doors, de-
livertng an address at the opera
house to about $500 people after
wards, while ]. Adam Bede of Duluth
spoke at the rink auditorium to an
| other large gathering on general cam
paign issues.
In his address, Judge Taft discuss
ed tariff revision, the trusts and the
banking laws, speaking on the latter
as follows:
The Democratic platform pledges
the party to support OF system by
which all of the national banks Of
the country are required to guarantee
the deposits to depositors in every
bank, and this guarantee Is to be per-
formed by a tax upon each bank in
proportion to its deposits and ii the
amount OF the tax is not sufficient to
raise the fund required, then 1t is to
be raised by subsequent assessments
on all the banks of the country, and
state banks are to be allowed to
come In and get the benefit Of the
same guarantee under conditions i'm
posed by law. It Is to be inferred
that the provisions are to be like the
Oklahoma law.
mo one can dispute the Importance
OF making the deposits in every ma
t!onal bank as secure as possible, pro-
vided that the remedy adopted is not
itself worse than the evil to be cured.
The government has imposed certain
limitations upon national banks. The
first of these provisions is that every
stakeholder shall be responsible for
the debts of the banks. In addition.
there. are rules imposed by statutes
governing the investment of assets.
The bank is not permitted to invest
IN real estate. 1t may not receive
more than eight per cent interest. 1t
may not lend more than one-tenth Of
its capital to any director and 1t is
subject to periodical examinations.
The result has been to introduce
In the national banks class of men
OF high character and great business
and banking ability, and the average
annual loss to depositors Is one
twenty-sixth of one per cent.
If the loss. though even small,
could be avoided. 1t would undoubt-
eddy be of great benefit. The question
Is whether we are to bring about an
avoidance of this loss by the proposed
Democratic remedy, or reach 1t in a
more conservative way by protecting
the examination Of banks by rigid
prosecution of all who violate the
banking laws.
Let us now analyze the remedy
now proposed by Mr. Bryan. 1t GER
tainly proposes to make the conserva-
tive banker-pay for the negligence,
carelessness, lack of confidence or
dishonesty of the failing banker. 1t
takes from one man, without fault on
his part, money to pay for the default
Of another. That, I submit, is social
istic in the extreme. II the fault or
misfortune Of one banker is to be paid
for by his colleague who is without
fault, there is not the slightest reason
why all of the insurance COMPANIES.
life and fire, should not be compelled
to guarantee the loss of all compa-
MES"
In South Dakota
Aberdeen, S. D., Sept. 29-The South
Dakota campaign of Candidate Taft
began at this place today with big
meeting. Judge Taft spoke from a
platform erected close by the station.
His voice was husky and hardly equal
to the heavy days work ahead of him.
His itinerary includes meetings at
Mellette. Redf1eld and Wolsey and an
hour and half at Mitchell and short
stops at Trip, Yankton and vermil-
lion and a rally tonight at Sioux City
Iowa.