The Topeka state journal., 1909-02-26
KNOCKED IT OUT.
CONTINUED from Page one.)


be no danger in second conference for
he declared 1--WE are going to have a
guaranty law, anyway"
I believe great deal of harm may
second conference, declared Senator
Hamilton. Il think when we vote on
this motion we ought to put it on the
basis that those who vote to concur in
the conference committees report, vote
in favor of a guaranty law, and those
who vote to disagree are voting against
a guaranty law
Senators Glenn and Porter objected
to Senator Hamilton'S construction on
the question. They declared such a
Characterization of the matter is not
fair. They both said they favor a guar
anty law, but are not entirely satisfied
with all the provisions in the bill as
agreed upon in the conference report.
Senator Lower asked Senator Cam
bern II the bill as agreed upon by the
eonferees would prevent panics, and II
it would make impossible such a panic
as that of 1907.
In reply Senator Cambern stated that
he believed there would not be another
panic such as that of 1907, because OF
provisions made by the national gov
ernment concerning issuance of cur
rency- 1 would not undertake to say,
said Senator Cambern. that this law
will absolutely prevent people becoming
panic stricken over banks, but 1 will
say 1 believe it will lessen the danger
Of panics arising"
Senator Stannard urged the senators
to stand by the report of the confereeS,
because he believed nothing further
could be accomplished by second con-
ference and that there is danger of los
ing what has already been conceded.
Price Asks Questions.
At this point Senator Price took
hand in the debate and put a number of
pointed questions to Senator Quincy.
In what particulars do you expect
second conference committee to I'M
prove the bill? What kind of bill
will satisfy you?" asked Senator Price.
Eliminate savings deposits and al
low per cent interest on certfncateS
given to depositors in failed banks,
replied Senator Quincy.
when you urge per cent interest
on certificates are you speaking for
the bankers or for the depos1tors!
For the depositors."
rs the guaranty bill designed to pro-
vide for bank failures or to prevent
them?"
''To prevent failures"
DO You expect any bank failures in
Saline county?'
mo. 1 don't expect any bank fail
ures in Saline county. but that may
occur in other counties
''Well do your deposltprS want 10
profit by your misfortune?
'eWouId not they be satisfied to re-
ceive 100 cents on the dollar for their
-
mo, I don't believe they would
'.Wen, tell me then. if depositor,
who is satisfied to get. 3 percent on ms
deposit when a bank is sold' why
would he want to get 6 percent on ms
deposit when it fails and his money
might be lost unless guaranteed
To this question no lucid reply was
ventured.
Senator Price then ceased his
examination of the leader of the
nd favor
holding the conference agreement.
'"The other day. he said, ''the sena-
tors who opposed this leglslatlon III
the senate, said that If the trust COM
panies and bank reserve deposits were
eliminated from the bill 1t would be
a pretty good bill. The conferees on
the part of the senate nave secured
the elimination of those vices. put
nov the opponents of the legislation
come in and magnify some of the
minor vices-for the sake of argu-
ment. I will call them vices-and en-
deavor to delay action on this bill.
But the senate could not have every
thing all their own way. we are
dealing with 125 intelligent citizens at
order to wipe out the two principal
vices in the bill, we conceded two
minor points
Can't Agree on Satisfactory Bill.
"I do not believe it will be possible
for a second conference committee to
fix up a bill that will be any more sat
isfactory to the majority of both
houses 1 do not believe a second con-
ference committee will fix up a bill
that will be entirely satisfactory to the
senator from Salina. 1 am not entire
ly satisfied myself with the bill, but
I believe it is the best bill we can get,
and I think as senator's representing
the people we should personally ac-
cept a bill agreed upon and which is
the result of the combined Judgment
of our personal ideas on some minor
points for the sake of getting a bill
that will be passed at this sessin.''
The debate was concluded by Sen
ator Cambern who declared: I'VE
want a law that will guaranty some
thing. I fear some of the legislators
want a guaranty law that will not
guaranty anything l believe a bill
that will be more satisfactory cannot
be agreed upon by the two houses.
Senator Cambern moved the previous
question, which was carried and the
vote was taken.
Twenty-six senators voted in favor
of Senator Quincy'S motion to dis
requested a second conference and the
motion prevailed. no call being made
for negative votes
The senate then took a recess until
2 p. m.
X. L. Bill Is Passed.
The senate this morning passed the
bill making appropriation for the
support of the State university for the
years 1910 and 1911, and for certain
buildings and improvements For the
year 1910, the sum of $43s,137 is ap-
propriated and for the 1911, $544,122.
New Conference Committee.
Lieutenant Governor Fitzgerald this
afternoon appointed as the senate mem
bers of the second conference commit
tee on the bank guaranty bill: Price
and Quincy.
DEAL IDVcu D0TATnrc