The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1909-11-04
Build the viadue..
wHY lie eUARANTEE

LAW % SJDND
Becsuse one or an hundred bank
ers failed % fulfill their duties TO
themselves. their stockholders and d
depositing public is not iustifiaple
cause for attacking the state guar
ahtee Of bank deposits Law. A law is
neither found sound or unsound
through ihe violation Of a moral or
legal obligation by any entrusted with
fulfilling its provisions.
Since Il came into being the Okla
home state guarantee Of bank de-
posit law has had to run the gauntlet
OF most determined and. sometimes,
an unfair list OF opponents Il was
regarded as visionary by the Nation
4 al banking association and the ridi-
Guile given Il was often brutal as well
as coarse Notwithstanding all these
obstacles. so rapidly and foIcibly did
i appeal to the deposiIing public that
Ia Kansas and Nebraska the power
OF the National banks was not suffi-
cient TO protect against enactment OF
Fftttttoi NAAtutic4 ti1 NVHutdf ANnihftA
making it imperative.
Only heroic work upon the part
Of well organized banking system
prevented It's being brought into force
IN Texas.
The law. in the belief Of the mass
es, hastened a restoration of business
in the new state, because In the rich.
ef and older states the bank papic OF
1907 hss not wholly teceded and ii Is
conservative TO affirm that the old
system of banking can never again
enjoy the confidence OF the people.
The declaration Of holidays with
banks issuing cashiers checks In. lieu
el money will not soon be forgotten.
too many people remember the loss In
business ventures and the consequent
depreciation In cash valuation OF hold.
ings
In theory the law must be right
There Is no more reason why a man
tlepcsting his funds in bank should
not have security for his receiving
same when wanted. than there Il
cause to ask The borrower to secure
the banker when he secures a loan o.
the bank funds. The old cry Of long
established. banking record Is Of lit
tie value TO the depositor whose
funds are lost through a bank failure
and NJ feiinvea are not altogether
Farc as The Distressing ease IN MIN
9 al Point WISCONSIN 80 recently Il
lusirated In the clfy instances Ok
lahoma's law has been tested the de
positors have not been distressed and
II for arguments sake one granted
that the law had not been properly
enforced. thar Is evidence 9galnst ths
authorities, NOT against tine law
That bank deposits should be safe
guarded in an possible ways Is moi
controveriible The opponents Of the
state Law have been proiuse in thei.
denauciation of the system. but thes
have SO far failed 10 advance 4 reasor
for their opposition. save the tathel
childlike statement that Il fostefs
wildcat banking whatever that ma,
mean Unless TIE Leader misudges
he people Of the state will think sev
eral times and some years before the,
will forfeit the privileges and protec
ion Of the state guarantee OF bant
deposits. The mere fact that beac,
uf newspapers, backed perhaps b,
other interests. have assaled the ad
mjrisilation Of the law should not n
any manner lessen the demand for il
or cause the most humble 10 need
those who are far more anxious Il
force a repeal than to provide for
The common good. Il is d safeguard
for thc average man aud thc average
man has more need of protection fol
his savings than the great Interests
seeking for a restoration Of that oil
any-day we-are-sh0rt make.ii-a holi
day system.