The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1909-04-15

th# q ~Nttthf} NMYfdItft hV fNu tHtNh
said HENLEY, that is our nubscrlberg'
Deposits insurance as inevitable.
(Dallas, Texas. News.)
Those who are familiar with the law
OF evolution Of human Toclety--frst
the Individual. then the family, then
the tribe and the alliance among
tribes, then lbe modern state. and I'm.
ally federation cf states-earh step I'm.
PEELED by tho Instinct that united we
stand, divided We falrthose who.
know tiege things also know that ali
human Institutions Obey Il similar law
financial installations among The rest
m Tee case of banking We have had
IN this country the wildcat pefiod.
hong IN the '30s. when each bank took
deposit made loans aud issued bills
without any ~cffevtnai regulation &
was the period 0f extreme lndlfld.
uallgm ii banking: the pioneer per-
led Then. after the war, came the
National fanklng system With Ms strict
regulations BY n central authority and
The absolute security Of hank cl rcdia,
ton, but without 4 similar security
lOr deposits. although the pass hook
end the bank note stand exactly on
The eame i0Olins It's bank obligations.
After that with each successive panic,
there developed close and sim closer
Organization and cooperation among
hunks and bankers, 10 Tho shape Of
National Bankers associations AMI
clearing hpneos N large clties. All fUf
Mutual ttlp AID to guard mutual Ia.
forests.
The Newfhk Clearing House assd.
citation, BY cl0ge cooperation. has
averted many panica In times Of lfou.
bic, and LAS been instrumental III nit.
igating others II Il IN erect a stem
In the direction OF a mutual insurance
association. but Of course II can only
operate In large cities where such as.
aociatl0ns ase possible. In foreign
countries this II accomplished By havi
ing . great central bank like the
Bank Of Epelafid and DE Bank d
France. or w . system OF branches
like thai Of the London ana WeslT4in.
sizes bank. and Of the BIG banks IN
Canada. ~ this WAY tho great nlotncf
bank laiips care Of the children IA
times If trouble. and tho branches
iak Ike care on eaeh other, as Il Is ali
but impoeslble that the br1nches ii
remote points from each other will &.
pefleiee the Nmp trouble or neeasi
eiiy At tie same time 1t win be r..
called thar during the panic of 1907
9 Canadian bank was driven t0 susI
pend operation. %lhereupon one Of is
feilowsh ents look charge Of the assets
aud pat on ain thn d6p0sil0rs. Il
lg ~ feAlity q system Of mutual pro
t%oction. and works 50 well that bank
failures IN those countries are ex-
tfemely rare. ~ recent times they
have beer altogether absent
But IN this country. under our pres
ent system. each hank Is on isolated
inhtltugiun and must take care Of itself
h Time d trouble. practically III the
same way that each man or family waa
Isolated in pioneer times Even the
clearing house system. where It ex-
lsted. bruke down during The last pan.
x eSenp. as a meats Of cooperation ia
putting On the It'd. Hence The necee.
aity Of smother atep in the evolution
OF banking analogous to the cenffai
bank am branch banks system OF f1r.
eisn and older countries. only more
progressive. more perfect and hettss
adapted 10 The genius Of our inalltu.
IONS And The next step Ii the FIJI
sufHnef ef guaranty 1t bank deposits,
8 step that will IN time make Che en-
operation OF an the hanks tor mutual
ptnteclion more o1eclual than III any
other country aad will aford abao-
lute safety TO denoaltnfa. at The namn
tlme that Il wiz afford 4 grontcr Dc.
gree Of %secnfltw aud moro profits II
stockholders For Il has boon aomon.
slraiel that ponies aud THE Id arc
neither safe 1ur psuHlable experiences
When We consider ail this Il be-
romesa aleFs that the deposit Insurance
Idea hau not only c0na so stay. but
Il Inevitable as lnefItshln as The Jaw
Of evolution itself and ~ little 10 HH
resisted by any sci n men That Ihe
fe menl IL working IS shown by lhh
fact that both the kfeai narllns prom
Iced The people protection Tor their
NN1NH4s tue NWNtHf HHffHhN NfffHsfHE'
ti9n 81 the Rrnublieans Il lust ~ murh
q guarantee measure. Is FAR MS 4 gees.
mr. The deposit guaranty Of The paln'
ucretie platform.
HuRh McCullneh. Il oi tie m0aE
distinguished ~nnnuelnfs thiN country
ever haai and who MI twlep SECRETARY
81 the Treasury. fnFeaaW The defanl
az The naIlanal hankIuK System IN Iail'
Ing II secure Orc deposits ah web 4
ihe circulation. H Faa ohe o. tn
arEa "a fasllxe lAal The obligation q
ne deposition II IL necessary and d
the same nature ak The obligation a
the h6la holder AMI lhat lhb deposits
Of the nFiyhlg tIllzkns should be Z sde
as safe rs The NtdaslIH nude be The
Government. cther nmlnenl HHaa'
CLERK onnr etnskeeled With the treas
nry lap6 HtmeLt, hut not now DEEPEN
aenl an political of HzEAHtlAI alliances.
hath slsan their unqualified support
10 the Il poslls guaranty proposition.
Similarly such Old. tried and consefK|
alive ~naNsnapefa aH The New XaIk
~ioaFnAl II roWMeFsz md tNe FpHlas|