Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1908-09-06

spAY MORNING. SEPTEMBER 6, 1908
pointed out its weakness, and Mr..
Bryan, DESPITE his skill, has been I'M
able effectively to answer his criti-
cisms. The plan proposes to make
the honest and prudent banks meet
losses for which they are in no way
responsible. Mr.. Bryan replies that
all banking. restrictions operate to-
curtail the freedom, Of the prudent
because of the dangers arising from
the abuses of others. But it is one
thing to put business under needed.
restrictions operating impartially and
quite another to compel banks to-
make. good, specific losses not attri-
butable in any way to their neglect or
default. s@
It this plan Is good one for the
banks, why should It not be applied
to insurance companies? They. are,
chartered by the state and are sub
ject to its close supervision. Life
insurance, for example, is one Of the
essential safeguards Of the home;
and the interests of the policy-hoId-:
.ers cannot be too surely protected.
But what would be thought Of a prop
fosition to compel the well-managed
and conservative life insurance COM
pany to make good the losses which
would be sustained by those insured
in other companies that become in
solvent? This would largely deprive
the former of the just benifit of its
own conservatism and well-earned
reputation and make easy the efforts
lof the INSCRIPTIONS.
4 The business of banking and in
surance must be transacted under
3strict supervision; but those insti-
buttons which operate fairly and pru-
IDENTIFY within the law should not suf-
4 fer either from laxity of government
j al supervision with regard to others
, or from imprudences and frauds with
4 which they have no concern.
Mr.. Bryan tries in vain to meet the
criticisms that the plan proposed
would encourage reckless and dishon-
est men, who would seek deposits or
!. the faith of such an assurance. Il
!: must not be forgotten that they dc
not conduct their enterprises with the
expectation of failure nor do the!
4 contemplate loss to the depositors
but deposits are the sinews of bank
ing enterprise and to the extent tina
], such a guaranty would facilitate
H them in obtaining deposits, the op
portunity for the play of illegitimat'
purposes and the temptation to in
! dulge such purposes, would obviousl
be increased. Mr.. Bryan ask
would it not be worth somethin,
to the stakeholder in peace Of min
t to know that the maximum of hi
AZ loss would be the value of his stocl
2 and the one hundred per cent. liabili
s ty,, and that no depositor could los
2 anything" 1t may be supposed tina
e there would be an added peace G
: mind" on the part of managing off
: Gals. And this diminution of ankle
: ty and of the sense of moral respons
+ bility with regard to deposits coul
0 not fail to have it's effect upon til
: prudent conduct of the business, an
t place severer strain upon govern
q mental supervision. The condition
j under such a plan would inevitabI
: tend to increase banking losses, how
: ever they might be made up. It ma
t be added that the guaranty fund 4
:, 1t were to ensure the required protet
e ton. would furnish difficulties bot
t with regard to it's investment and it
o availability in emergencies. stti9
o This proposed plan does not NEE
: the demand for an elastic currenc
f system through which the monetar
t wants of the country may be SUI
Piled TO supply such system is a
: urgent necessity and its Sprovisio
s would obviate many of the danger
: which have hitherto existed; but t
3 make banks pay for losses they hav
g not caused 1t to depart from princi
! pies and TO encourage improper pra
: tices. - ?" ~ ,..ve .su-a<,. vi 2
q Interests of Labor.
The republican party has been st
I licitous OF the rights of labor. Mi
Taft is clearly right when he say
= that ''hot since the beginning OF tn
y government has any aother Nationa
= administration done so much for til
cause OF labor by the enactment Q
remedial legislation as has Theodor
) Rooseve1t's and the republican cor
crosses elected to sit during his teri
of office. And in support Of thi
: assertion he instances the re-enacte