The free lance. (Fredericksburg, Va.) 1885-1926, 1908-08-29
BRYAN ON
BANK GUARANTY
Answers Objections Made BY
hT. Taft.
POINTS OUT ITS ADVANTAGES

Nebrasksn Asks Why Depositors
Should se Unsecured When the Gov
eminent Demands Security From
Banks Fer Money Csposised-say e
Il Is . Choice Between the Guss-
anty Plan and Postal Savings Bank.
and He Favcrs the Former - Cc-
elarss Plan IN Ckishona . sueeea-
Topeka. Kan. aug. S-Bc.ore on
audience which filled the Auditoriun
10 oYoriowinE. W. j. BRYAN Dem,
cratic candidate for president. spot .
ON the subject of guaranty of bank
posits
As announced by him before his DE-
p2r,urc from Kansas City Mr Brva
I'm view OF the action OF the Kans
Republican state convention. vhic.
indosscd the guaranty 20 bank Gepos
its. made some remarks supplemoa
tary 20 his prepared speech on THAI
subject He took up the adyantac b
OF The guaranty system and then ar-
swored the objections made TO 10 hv
Mr. Taft and others he bean D
asking why the dcpasltor saculd De-
LETT unsecured when the national rcr.
erument demanded security of an
p4nk with which IL deposited none.
Tie pointed out that che choice was
between the postal savings bank a.
che guaranty plan and accused Mr.
Iait OF iavorins an unnecessary o.
tension OF the sphere OF governm rl
IN advocating the postal savings larE
instead OF tho guaranty bank
Mr.. By ar declared that he prefc-
red the guaranty bank proposri,-
which wouli allow the banks To-
tcnd 70 the banking business. and v.
compel thcm % give their dcposito-s
necessary security
Upon the conclusion OF his prepare
speech. Mr.. Bryan said.
4 ask Mr.. Broidcnthal a banker a.
kansas City. TO make INQUIRY smo-r
the bankers OF Kansas and asce~ta,
what proportion Of them favored %
guaranty law. learned that OF tie
banks tlat bad expire sed themsalv.
on this subject. about tarce-fou-ths a.
them favored a guaranty law. an
onefourth opposed e. That is an c~
ceient showing Among the dcrcsi
ors there is no opposition % all an
Il Is evident tLat the Kansas banker
recognize. FIRST that something must
be done. ana. second. that tte ciarau
tccd bank is better than the postal
savings bank. ! also inquired of Gov.
ernor hasscl of Oklahoma. in regard
20 the namler OF national banks the-
have surrendered their charters an
become state banks IN order 20 hav
the benefits OF the guaranty system
l have telegam from him SAYING
that four national banks have alreld,
made the change ana are orcrarln-
under the state bank laws. ana tina
sixteen other national banks have az
piled for state charters. Tlis is con
elusive proof that the Oklahoma plan
IS a success.
since The preparation Of my speech
on this subject the Republicans cf|
Kansas have held convention az
adopted a state platform Tle uIa-t
on abe guaranty OF banks is rec 3
milton 81 the necessity for sccu-if
bat The plank is so Wordad as 70 DID.
practically useless so far as the pr-
lection ~ The people is concerned. Tho
Republicans propose TO enable q.
state banks 20 mutually and y0,un
tariiy' guarantee deposits. But that
Is not enough. suppose thar The ba-
mutually a.reod not 70 DO g. 1lu-t|
the ieposi-or Dee iefi uusecured2
The Kansas Republican platform
also requests the Republican can
dates for congress anl the Unite
States senate 10 favor a law auoVne
a national bank 10 participate in o.
proposed mutual and voluntary -vs
tenn But what chance is there of s.
curing such a law when the r pubi-
can national convention refuses 20 paw
any attention 10 the subject. and whcr
the Republican candidate opposes the
whole proposition OF the guaranty
His denunciarion Of the guaranty is S.
sweeping thar n tisiuterested parsc~
can believe for a minute that he W
either encourage or permit a law al
lowing national banks 20 parricin--s
in state banks. What the people r..
Is system whereby both state ban
and national banks VIII be compellc
10 guarantee depositors. ana only r.
Democratic victory can secure hi
reform. With 2 Democratic president
and a Democratic congress. il VIII b.
easy to secure the adoption Of a svs.
TEN which viii make both state and
national banks secure"