The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1908-12-08
BANK acLosEp. EUMns CONE p

BANK "cLosEo. FUNDS GONE"
The captisn of this article is one we
often see and yet II is the most unwel
come in our doings in this beloved
United States. lH Springfield, Mis-
souri,. all during the campaign the Re.
publican newspaper had much to say
against the Oklahoma bank guarantee
act, and all sorts of wild speculative
fallacies were accredited to this state
Monday the Associated Press sent .ver
the wires the distressing news that the
bank examiner had closed the doors OF
large banking institution of that city
The reports are that the bank may
be able to pay the depositors." That
means, as usual. the receiver, t1e court
costs etc, will get a whack at the
n-ney, then, If the courts are strict in
holding down the expenses to an ordt
nary notch, the men and women wha
put their money in that bank, may
have the right to call and get some
of il.
The Leader is waging the contest for
different system because IL is but
fair to the bankers and dep sitors that
such be not'allowed to further disgrace
the statutes of the Federal govern.
ment.
The failure of the Springfield bank
and the weary weeks the deposition S
must wait for their money, II they get
any, adds to the fear throughouttthe
United States that cur banking sys.
tenn is not good.
The Leader understands the seven
1annIaG of rrofnIfaa hnf, H.. a..
ers In their fight to avoid a change;
realizes many of them classify the ef.
fort TO secure deposits in the banks as
personal assault upon their honor.
But such is far from true The panic
Of 1907 was not. as declared by the
foolish political spellbigders. a pre-.
conceived panic made by any class
1t was the revolt of the depositing pub.
lie against the banking system of the
United States, and each year taat re-
volt grows and will never cease until
the men who hoard their pennies I
the proyerblal rainy day" season are
given the protection to their funds
they so richly merit.
Here is a case in personally
known to be- true by The Leader
stockman and farmer, after forty
years cf effort, had large fortune, as
fortunes are measured in the com.
munity in which he had been bred.
born and reared. He bad seven child.
rem whom he had educated given q
start and wanted to further show his
parental affection by giving them a
handsome Christmas present. The
vile and mother she who had been his
actual partner in poverty and travail:
then shared the days of peaceful plenty
and proudly borne her maternal -ffer.
ings with her husband, had been con.
suited and the agreement was that
each of the children was to receive
$4,000 on Christmas day. 1t was the
desire OF the proud parents to make
this gift In cash. without reservation.
Thirty days before the day for the
gift the bank closed it's ors, and Il is
a question whether there will be saved
twenty cents on the dollar of this proud
parental offering!
or course $4,000 is not all the
money in this world. and those child
rem will not suffer. But the man and
woman wh9 had toiled for half cen.
tnry; arrived at the yer ythreshold OF
the supreme moment of their existence
We're plunged into sadness and desoia.
tion by the act OF those whom they
were in no manner responsible for 7
had aided in doing wrong.
Do you. reader, feel that prejudice
should stand In the way of prevent
Ing such occurrences?
How many. too. are not cnly de.
prived OF their presents, but of their
allg How many people. frightened
because of repeated failures in the
large cities. begin to wonder ii there
be no remedy?
In the year OF 1908 the m ney sent
by those of foreign birth back 10 their
fatherlands was thrice what had been
true OF the past. These sons OF other
lands. making their money In our great,
free country, become frightened al
-ur financial houses and send the
earnings beyond hope OF ever doing us
further good,
The bankers win have TO meet the
people half way. They are TO be par
doned ,fcr advancing the argumen,
that they handle billions without a
d-llar going wrong; they are also cor
rect in stating that 9990 out of zach
10000 are always ready and do pay
the depositors when asked--that thes
are builders and strive for the better
ellizepspip a4a safd AsEelf fpneaa IN
thelr respective, cQipmpn 4 lesl giAl
these facts are 10 th2 credit Of tas
men who conduct ur financial llstl
tutions. But, what they do forget, Il
that outside people know not who 8.
going 10 be the neXt 20 yield l. temp
tation, 20 make tie bad Investment
and then the ruin That is toe rub
the wheel which spins around ana
around. and leaves the ignorant and
the poor distressed beyond power to
describe.
II the present pr tectlye measure OF
Oklahoma be not the best let Us mako