The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1909-09-30
STATE UNITY

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No better example OF the power OF
unity for all good purposes could be
obtained than the unanimity with
whiea the friends OF the Oklahoma
state guarantee law rallied when the
news OF the Columbia Bank and Trust
company failure was sent throughout
The state. As usual in matters Of suca
grave import. the news did not get
less in gravity as il vas hurtled over
the wires
II was reported the state was $500
OC0 to the bad-that The state de
posits we're improperly protected.
even that the $4,000 of the guaTan-
tee fund was irrevocably lost
The men VINO never oppose in the
open and trail behind all movements;
ready TO approve If It be a winner and
TO sc0ld II Il fail. best termed Trail
ers Reserves" were out with their
little knocking machines. charging,
with assumed gravity. that some one
was at fault; pretending sorrow, etc.
But there came from the southwest,
nor Invest. northeast southeast, east,
west north. south and central parts
OF the state a & eat welcome chorus
the messages of the men who do; who
understand the game of life, the needs
of the state and the necessity of be
ing prompt OF action. one grand sen
tence. some to Mr. Young, bank com
II IaalFali
all saving only.
"How much do you need?"
No eroakers nor cutters those
sons of Americans
They are for Oklahoma and her bene
ficent law regarding the guarantee OF
bank deposits,
They knew well the state fund was
hig enough. they did not know wheth-
er the actual currency could be go ten
Go Oklahoma CITY in time TO meet
the demand of depositors.
They wanted Oklahoma, through her
constituted authorities, to make good
on demand. They are bankers ana
know that when a man calls for MS
deposit. he should have /, then, mot
tomorrow.
The ever-present eyil-tidings bearer
had told / mot q few localities there
was deficiency of million and thal
"the oklahoma st9te bank guarantee
law has been tried, f1ilel and killed.
That was bad news, II true, bad
also if false.
Bu' these Oklahoma !oyals $ we
not afraid: their reserves were ready
for the emergency the state banking
board could be made safe at the
least within few hours.
The result is most satisfying. The
people. learning that the great guar
antee institution they have been build
ing ful two years past was unlimited
in its resources. asked no furiner ques-
iion.
Depositors went to the fallen ins +
tuition to merely ask If the state bank
commissioner were in charge The
presence OF Mr.. Young and tue sight
of Secretary Oakes, back Of piles or
gold. willing End ready 10 pay de
posito.s. sent all away few indeed
taking their deposi $, the vast majorr
" stating. Tll take Ii If the bank Is
10 closed otherwise will check II out
as usual
4 great financial institution bad
been pushed TO the wall Suffice !
to say that whether it was IN error
or victim Of opponents, the y7s' mil
lions in It's vaults. ii tied up By tht
courts. would have closed several
small banks stopped upendous bus
mess deals and otherwise stagnoted
commerce in not few circles.
The Okahomans beheveing and
abiding by the state bank deposit
guarantee law met that eme -gency
They dH not tlke advantage of mo.
ment that might have been gained by
delay A solid phalanx Of bankers
i,.vhpi have been able to stand every
test. stood as one man behind the
state with gold sufficient to pay with.
with credit TO tide over temporary
bridge
No one can describe or appreciate
etAs zlaaermast feeling of another No
FDne can describe the feeling of the
skovernor Of this commonwealth when
hhese messages f1Hoss Z eIuelll 50 YOU
Heed. commenced 10 pour In. What
tate bank $mmssosg& in tha. holh
when false fepUrtssAnf MID eNasgnra
1ion was vending its way throughout
Ihe state, 10 realize il was not a ques-
zion of how nigh 10 he mark he could
come. but how many uncounted thou
sands OF surplus was il bis disposal
2 Il was the Haskell demand for pro.
teetion Of deposits. fayorably respond.
ed TO by the First legislative body
that created he State guarantee OF
lheposts. The enactment OF that law
made the state. its chief executive.
and it's legislative body the target
toi all who cling o thc idea thof nr"
seedent as the only guide; the past
ifhe only safeguard fer fuluri.y.
y The Federal attorney-gene- al and al
50 the recent Naliofal 1ank associa.