New-York tribune., 1909-01-05

wrote me recently on this subject and will refer
10 his language: 1T is plain to that the stare
hanks cannot stand this competition The "a per
cent interest proposed by the oil we cono staiu,
from The Claims of credit it is equivalent about
la per cent or per cen In an we nus Tpre
certainly seems 10 be much truth in what TINS
banker has 10 say. a., -.
In this state as several other states. the state
institutions are under equally as strict ana eAaet
supervision the national banks IN tns
state the law requires two examinations or ever.
state bank 10 be made by the Banking department
each year. II requires the directors 10 & max "a
like number of examinations in the same ,me' 1 1e
sides published statements are required OF the
condition of the banks at the same time ano as az
often cal is issued Tor t1at puLpusfe Lf os ~
Controller with reference 10 national banks ,,,,.
In addition the foregoing. the laws OF Mcni- D.
con largely preseribe the nature of investments
which state banks may make Thus you VIII read read
Fly that should the prorosea postaI tad
the many splendid state banks established ns y ny
many of the states would he seriously anecteu' anu
apparently without any justlncatlon'
MISSOURI, John e. swanger. Secretary of State;
% / think not. C2) No. CD No answer 90 TO
Them in national banks co. One thousand and seven
ave M po scy afs savings banks % Yes q they
supply adequate facilities. G0 No aswer
MONTANA. F. II. Ray. Assistant State Bank
Examiner
hank deposs or i that is not ohtainaoe s. 6hen en
csnzlass as far as l know of banks merchants
their attitude know however that ll .I,eIe e
spainstP the pestaI savings and believe that a
great many merchants would support the view OF
their local banker in this matter. (S( ! construe
this question TO mean why It is gpposeo' pSa1
question q The erect on existing banks would
be divert from them large amount IN oer agere
55 o. and @ Technically, only one bank in Mon
tana is savings bank that Is TpSsI State
and private banks have savings Departments, sew
& ea 36 % fRsSe PaSS nd m Of em issuing
tfcates OF deposit the rates q 4ins e per
cent Answering specially question TT think nso4is eS
and If a guarantees law were enacted there would
be popular demand for postal savings. Inc
poses by large number. and small banks are
started in new towns frequently in advance OF a e
the bank is Incorporated state or national one
bankers against the postal savings are; FIrsL
business when its proper function is the regulation
thereof Second, that under the proposed law the
tors This IS rank class legislation and
2usS , o nder the nranose6 y nut
out reach of their creditors the amount they de
is no assurance that the postal savings would be
redosited in the community thus psThaps drain
titles Fifth is doubtful IL the expense thus in
ference 0f IN interest reeeTd and paid bv the
eminent, and the result would probably be an IN IN
q @ On o onlT SS of which Interest would he paid
barred pan u
NEBRASKA. E. Royse. Secretary Of Banking De-
partment:
o. I think no general demand (2l Banks. no. In
my opinion, merchants do not care for tneIn
are not considered a convenience commercially
go The opposition, ! think. is principally among
financial institutions. who fear loss OF peInshehIs
deposits a certain extent, among the more tiraid
depositors % think m the ,o above m answers TS @ yls
the building and loan associations. seem TO, with
the aid of the commercial banks in the smaller
time certificates of deposit amounting TO S2lO'5-
2e upon which various rates of interest are paid
C9 No answer.
NORTH CAROLINA. Franklin MCNEIL, chair
man Corporation Commission:
n, No such demand, if IT exists. has found pub
lie expression. i2) Our impression is that banks
and merchants are unfavorable; banks. because 1t
would afford opportunity to reduce their deposlts
dependent upon the deposits in banks for their
facilities. 90 No answer. "a II successful. IL
erai banks and trust companies. 90 There are
eighteen savings banks. with $3.50 sl6 deposits IN
this state (6l Savings and general banks and trust
companies furnish good facilities for the needs OF
the people OF this state. "a No answer. % NO
| answer.
OREGON James Steel State Bank Examiner:
OBJ cannot state that there is a popular DE-
| state but my observation leads me to the conclu-
sion that very large majority of the people OF me
As sLs' 4u Tue. think the banks are not favorable;
M9n has c9n been dons TO Tes9n hne fe
Some favor it, others DO not Lhiii1, * -6 R6"eHe I
opposition TO the establishing of postal savings
banks that / have learned Of from any source mas
tendency to draw money from the banks and & piace
! ii in the postal savings banks. where the CniIed
mems menf 81 same a. Aside from the national banks
in the state all banks doing business in the state
DincorpoTate private and foreign-have no dis
tinct cIassifcation under the state law. but are
all subject the same provisions OF the laW- We
have no special laws for the goyernment OF @ tTust
companies. give as my opinion that me @ eaie 5aS
would favorable 90 There are at ms tIne ISz
hanks in the state subject to the provisions OF
the state banking law nciqaed IN ings Isr dapaTf
| ment The aggregate savings deposits reported 20
/ / give II as my personal opinion that the needs
Of the people would be facilitated by the establish;
have the utmost confidence in the government. and
The disposition now existing more or or eSs and
millions of money now out Of clTcuIaton MotIo VIC
| absence Of savings banks" that term is gen
eraIly understood the banks conduct what they
Gambt Conclude that am very much in favor OF
the establishing o. system Of postal ,a,d saTnggs e.
svorabl The banks as vel as, as to d,9t all 0the1 e
lines Of f Hous be Brought or rom its dine
| places where II Is doing no one any good: !
/ ronid then mass into general circulation through
che hanks that would be made repositories fol
| the funds coming into the postal savings banks
| RHODE ISLAND. W. P. Goodwin. State Bank
| Commissioner:
| ID There does not seem TO be any general inter
.e. IN the subject hereabout Inquiries made bring
out variety of views. as might be eSpecIeG. =.
Not generally as they consider II undesirable foi
chants do not appear 10 nave given me supJee
| much thought. t0 The views expressed seem -
! he more those of questioning the wisdom or such
an 1Indertak king by the government than opposition
| 80 the idea from fear OF competition t) EAlstlns
savings hanks might be re.aTdea Td es ouf
not be affected unless there we're great 81,