Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1909-01-15
Willing New Turn Should Be Given to
Prove the Claims.
THINKS FRAMING OF BILL EASY
Unwilling, However, to Accept Invi-
tation to Try 1t On.
SENATOR voLPP READY WITH ONE
Under It's Provisions Time IS Allowed
to Check Up Banks Affairs
Guaranty Fund To De
Redeposited.
Crrnm a staff Correspondent.l

(From starr CorrespondenL)
LINCOLN, Jan. 14.-(Special. )-Notwith-
standing Mr.. Bryan's declaration that he
did not intend to take hand in the af-
fairs of the legislature this winter, he has
on file in writing his ideas OF what should
be embodied in bill to guarantee bank
deposits.
The recommendations which are m tho
possession Of the executive office fan way
below that which Mr.. Bryan's followers
had expected.
In the first place Mr.. Bryan has given
up his plan for the immediate" payment
of losses In case of bank failure. which
he so ardently advocated on the stump
and later, and according to his message to
the legislature on file with the governor
he is willing that a reasonable" time
should be given in which to check over
accounts before the losses paid.
In his orders Mr.. Bryan does not seem
to anticipate that the entire banking laws
of the state must be changed and a new
system entirely adopted, so 1t Is told on
| the most reliable authority. but seems to
think that 1t is an easy matter for anyone
to get up a satisfactory bill which will
provide for the guaranty of deposits.
| Governor Shallenberger will show the
| recommendations to the leading members
of the Legislature, belonging to the
jority party, and they will be expected to
draw a bill In accordance with what Mr.
| Bryan has written out
1t is said Mr.. Bryan went into the matter
only in a general way, just he did in the
campaign. and failed to call the bluff OF
! p. l.. Hall to draft the bill II he thought
| he was capable to do It.
Learns From Hall.
The fact though that Mr.. Bryan is now
in favcr of allowing at least sufficient time
TO eapse before the payment of losses for
the bank examiners to check up tho
records is beyond question the result of his
| first lesson in the banking business under
| DIR. Hall The vice chairman made no
bones about opposing the Immediate" pay
ment OF losses, rs Mr.. Bryan advocated in
his campaign, and the organization of tho
banking committee in the house shows that
DIR. Hall forced the Peerless Leader to take
a back seat.
1t was impossible to learn today whether
Mr.. Bryan has any other orders on filo
with the governor. but he has still to get
up that bill providing for the physical
valuation of railroads, as requested by DR..
Hall.
VoIpp Has Bill Ready.
Senator Volpp of Dodge, chairman Of the
senate banking committee, will introduce
says his bill as originally drawn has been
changed slightly to conform to the ideas
of Governor Shallenberger and Mr.. Bryan.
! He expects his measure to meet with the
approval of the entire membership. He
will make a determined effort 10 have his
name on the bill that is finally passed.
In brief, Senator Volpp has altered his
Views to the extent that the immediate"
portion of the measure shall mean thirty
days and that all losses sustained by fall
ures shall be paid within this time limit,
He indicates that this much has been
ceded by the friends OF the bank guaranty
in its most radical form and that II is In
effect an immediate payment. as this length
.. of time is needed to ascertain the conditloa
of any institution after failure.
He as3o has much confidence in the pro-
vision for the reinvestment OF the bank
guaranty fund In the bank paying It. and
fixing the rate of per cent upon the funds
so held This provision. Senator Volpp
thinks, will be concurred in by the party
leaders 1t was recommended in the recent
message of the governor Of Oklahoma, after
) trial Of the Oklahoma plan for a short
) time, and the senator believes Will meet
with approval by democrats, as the inter
! est will provide fund OF about $4,000
year which, he figures will be enough TO
pay the expenses Of the banking commits
, sion.
, The commission will be appointed by the
governor and the members will have au-
thority to levy additional fund in case
of necessity over and above the guaranty
fund provided in the bill itself, this being
! Incorporated in the bill to make It con-
; stitutional. the idea being It will never be
: necessary to make the levy, but when a
; plan for absolute insurance is proposed. It
must be absolute and contain no limitations
r as to the amount raised Senator Volpp
believes in the guaranty tax advocated by
Governor Shallenberger. which was one
r fourth OF l per cent on the deposits OF the
banks, based on the average for the last
four statements given previous to the en-
actment Of the law. A tax on capital stock
of new banks will be imposed. The guar
anty fund will be levied in inBtallments
every six months, Governor Shallen-
berger indicated in his MESA se until the
aggregate reaches per cent at the deposits
: levied upon. Then the collection shall
cease except as a levy is needed to bring
e the fund up to the required limit The
n senator was first in favor OF raising a fun1
that should be per cent of the deposits
but he has changed his mind after consult
" ing with leading democrats.
" ROCKY ROAD FOR REFORMERs
RanaOmsa Victory Had AuRur for