Goldsboro weekly argus. [volume] (Goldsboro, N.C.) 1885-1909, 1908-09-03
Nominee of the Democratic Party for Presiden
To.Be Commended for His Stand for the
Guaranteessof Bank Deposits---Guar-
antee a Protection Not Only to
Depositors, But to the
Solvent Banks.

Charlotte Observer:
Mr.. D. A. TOmpkins was asked yes
terday what he thought of the stand
taken by Mr.. W. J. Bryan on the quss-
ton Of guaranteed bank deposits and
what he thought of the general prope-
sition itself. He said:
"Mr. Bryan's speech upon the sub
ieet of guaranteed bank deposits ap-
pears to be as an as that
gentleman ever made at the same time
enc Of the best expesitions of the sub
iect that has yet been offered by any
body.
LESS than % years ago there were
many peophs who shuddsred when
some enc they knew well proposed to
take cut life insurance. Many q wife
positively objected to her husband TAX
ing suit insurance for the reason that
it seemed 30 her like setting his life
against n All this prejudice has
new disappeared and'ths feeling about
life insurance il wholesome and good.
Insurance in other lines has made
and is now generally regard
as very advantageous. b new move
ment to insure deposits is as whole
ssms md rational as 10 life insurance.
The objections made to it are as much
based on prejudice as any ever made
against lite insurance.
"Let us suppose that q widow owns
q house. There are none who would
net now consider it feelish for her to
neglect insurance upon the house
against fire, and yet when she sells
the house and deposits the money in
the bank, objection is made to her
paying a very much smaller charge
than a fire insurance premium to in
sure against loss by failure Of the
bank.
1.-THE elaim hat insurance on de-
posts would contribute to reckless
banking is wholly erroneous. All the
stockholders stand with theifull amount
Of then stock and 100 per cent liability
besides between the officers OF a bank,
and any enoroachment upon thu de-
posts. The stockholders elect the
officers and these, together with the
government supervision, constitute
protection against reckless banking.
The insurance of deposits will have
nothing to do with it. The following
is from Mr.. Bryan's address:
"tIp like manner it might be said
that if all people were careful about
fire, fire insurance rates need not be
rs high as they are, but the careful
have to pay higher rates than they
should because some are not careful.
Life insurance rates are higher than
would be necessary to cover the &C
tual risk if everybody took care of his
health, and hero, too, the cautious are
burdsned because some are careless
of their health. All insurance is open
to the same objection, and yet insur-
ance of all forms is growing, and the
insurance of ~depositors is growing in
popularity more rapidly than any other
form of insurancs-and, I may add,
it yields the largest return on the in
vsstment.'
1.-THE insurance Of a house against fire
is solely fer theiprotection Of the owner.
The rest of the town or city in such a
case is protected by a separate fire de
partmsnt.
SIN the case of deposit insurance, it
is not alone the depositor who is pro-
teetsd, but the community is protected
against panic. Mr.. Bryan gives two
very apt Illustrations of how protected