The Richfield recorder. (Richfield, Idaho) 1909-1931, 1909-09-02
BANK GUARANTEE LAW.

No is dissatisfied with the way the banks Of Idaho
being conducted The they through the panic OF two
shows that they safe and sound ont
that you couldn't egate any better brand business ability
OF personal honesty into them il you try un
your grandchildren were gray headed, or bald.
But STILL there things in banking which might do
haIm Idaho The national supposed
guarantee national banksa pleasant fiction, the MAN, but
still one that is currently believed Down Oklahoma, the
state has attempted to guarantee the state banks 1t has
Ioundy crcsed has been called paternastic socastc,
revolutionary and all that Yet it really be working
out we'll Ia theory, it must work right for it makes
whole state government the insurance company for
deposit The state has control these banks
make the insurance safe and costly; the
his hands and then he does what he says best Why shouldn't
the people be able to safeguard their interests they
out to so?
1t has been said that this democratic actonhat for the
republicans to think of using it treason and all that Any
to be the mad house the supplemented ward The prnc
pie is at best part Of the original platform
OF Americans not aliens necessary If this
posory law good it should be taken up by the people
gardles OF party and business by its aid
can be done.
pete and satisfying
big Chicago bank the following is given:
his opposition voiced IN the letter which Mr. Roberts
publishes
First It has increased the number banks beyond tie
proportion Of the increase in deposits.
''.Secondt has enabled incompetent and unscrupuous
get into the banking business and in many cases such
'Ihrd-1t demolalzes business for the that the
banker who the highest rates OF interest and
lowest the least security and aaround good fellow
sets the deposits
Fomth-It has forced seventfve good national banks
out Of business and most replaced them with
smaller capital
We are in an unsettled condition the failure Of
big bank in the state would knock the guaranty law
cooked hat and make the worst bank panic had
Mr.. Roberts conducted has Investigation of the Oklahoma
system by correspondence conducted by personal
spection.
First do have the statistics at hand to verify the
statement that the Oklahoma banks have increased in number
out OF proportion to the increase deposits However do
not believe the statement any accurate than the
statements made.
''Second- This absolutely untrue Perhaps
should modify this declaration and say that the bankers of Ok
ahoma crupuous and competent bankers in other
states i
'Ihrd-lhe impression this paragraph gives is that the Ok
ahoma state banks doing wild cat business The truth
hat any wild cat banking is being done being done by the
atona banks and not by the state banks The and
lis bank commissioner have repeatedly refused to permit the
banks to meet the competition Of the national banks in the
Ugh rates deposits and the low rates loans
sFourthThe national hanks which have given their r.
harters have reincorporaed state banks The fact that
lost them have decreased their capital stock does dis
ed the system Mr. Roberts has repeatedly declared
good faith and the standing Of the bankers Of the country
ks hp