The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-04-01

lion dollars will have to be deposited
with the state treasurer, either in
state or national securities. to guaran-
tee the payment of deposits, and the
dues or insurance premiums will be
only one-twentieth of l per cent.
The plan is not only considered q
great undertaking, but our people are
anxious for its enforcement all over
the state. It Is the fruit of years OF
experience and study on the part OF
our leading business men, and VIII pc
appreciated by other states after it Is
put in practice The banks in Okla
homa, Texas, Nebraska, and Iowa al
ready have a state law similar to ours,
and the national banks are suffering n
those states because they are not al
lowed to participate in the Dement'S en-
joyed by the private banks.
when the government deposits
money it insists on having its deposit
protected by guarantee fund, the
state and county does the same. For
that reason We in Kansas believe the
individual depositor should not be left
out. If one bank in a certain COM
munity cannot give a guarantee, then
the individual depositors Will deal
with another, and it is to prevent this
wholesale denationalizing that we de-
sire the attorney general to ratify our
plan.'
Questioned as to the similarity be-
tween the Kansas law and the pet
project of william ]. Bryan inserted
in the Democratic national platform,
Gov. Stubs said:
1T think Bryan's plan is not consti-
tutional. He would make the guaran-
tee of deposits compulsory, we leave
the matter entirely at the option OF
the bank directors. If a bank does
not want to share in the profits by
paying one-quarter of 1 per cent Of
its yearly deposits to the state treasur-
or fund IL wit hdT0w
Postal Savings Banks.
GAS to postal savings banks, we will
gladly welcome the enactment OF a
law to make such a system possible.
Their operation will not interfere with
our method. 1t is usually the small
depositor that will take advantage OF
this opportunity of guaranteeing his
deposits. The large depositor will still
maintain business with the national
and state concerns Both systems
working together will insure a stable
condition of the nations finances
Panics will be less frequent and model
banking institutions will cover the
country"
The party spent the day at the cap
itol in conference with the Kansas
representatives. Facts and figures
were gathered together for presenta-
port of the plan. A hearing will be
arranged between Secretary Wicker
sham and Gov. Stubs and his asso-
ciates some time this week. A visit
to the White House is also on the pro-
gram of the governors party.
The state bank guarantee law goes
into effect in Kansas July 1, and the
delegates hope to have matters ar
ranged for the national institutions
before that date. They also hope to
eliminate the bitter campaign that
was carried on in Oklahoma between
the state banks and the national
banks A war of advertising was
fought in the new state, the state in
situations representing their superior
feature of guaranty of deposits by
lurid posters.
William Allen White. who accom-
panied the party as far as Washing
ton, will leave America for Europe
in a few days, and will go to New
York today.