The Ellensburg dawn. [volume] (Ellensburg, Wash.) 1898-1914, 1909-02-11

o., NJ 4 matter OF fact, the banks
~, - 4 rule, gain more from the law
49,, ,hey will lose by the tax imposed
!, the law. The experience OF the
n.lahoma banks shows this. The in
~. collected upon the increased de-
..,l,a sill far more than pay the losses
s.e..ieued by insolvency. But two
s.,k. have failed and the assets have
j, both cases been sufficient to REIN
bur,s the fund.
Than. too, the banks must remember
.A.t the question is not merely whether
a..oaItors shall be made secure, but
vhsthsr the security shall be given 10y
~ hanks themselves or by the govern
mt through a postal savings bank.
The refusal OF the banks TO permit
Ia massage OF law granting security
70 depositors is responsible for the
ncuth Of the sentiment in favor OF the
soverpmsnt savings bank, and the SEN
ament will continue TO grow unless
pusthipg is done to satisfy the de-
rauds Of the people upon this subject.
The republican party proposes the
establishment Of postal savings bank
vsssm; the democratic party prefers
,he euarsnteed bank because it is bet
N for the deposition and better for the
boaksr-it gives the depositor the Sc
curitv which be needs and yet leaves
he banking business in the hands OF
ths hanks. But the democratic plat
form declares for "a postal savings
bank II the guaranteed oank can not be
ncured," and In November more than
ninety Dor cent OF the voters will 10y
heir ballots demand either the gusran-
nsd bank or the postal savings bank.
Can the 6nancisrs prevent the carrying
ont Of this demand:
The republican platform does not go
Into detail, but Is is fair to assume that
~ postal savings bank system pro-
pused BY the President and postal gen
al. Under this plan the Federal gov
9nnent would invite the deposit Of
swings, limi; being placed upon the
snount that each person or each family
could deposit According to this plan,
he business man would not be pro.
tected, for he uses a checking account:
bot no one can doubt that the success
hloperation Of q government savings
hnk would ultimately lead to an sx-
isnsion Of the plan until the govern
nest bank would include the ordinary
cascking account and be open to de-
paiU without limit. 1t would mean 4
kug contest between repositors and
hs bankers, but G contest which must
b The end be decided on the side OF the
dopeoitors The bank must decide,
therefore,, whether be will favor a pos
Msavings bank which, ia the absence
dthe guaranteed bank, will grow I'M
u It absorbs the banking business, or
Fnerve the present system OF banking
y giving to the people, through =
guaranty law, the protection which
ney must otherwise find in govern
neut bank.
The democratic plan, therefore, con-
umpates less radical change than
nsrepublican plan. In his notification
Peech Mr.. Taft charged the demo
0as With being socialistic in some OF
'selr remedies. The charge was not
vel fouoded, but ! might reply by
snasging him with advocating an un-
a.eeesary extsntion Of the governments
p0ere Of activity in the establishment
v The postal savings bank, when the
suaantsed bank would answer the
.ne purpose without any considerable
Increase 10 the number of government
suployesl l would rather see the banks
."snd TO the banking business than to
''vs " transferred to the government,
:" oscause prefer to have the bank
~ business done by the banks rather
"'a oy the government | urge the
aa'fanty Of deposits as the easies sOlu-
700 Of our difficulties.
mere are only 10000 banks, while
s''s are 100000 deposilors, and
~ nos hesitate to declare that ia con
y" between the two, The deposito's