The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1909-08-18
Tells Sarcastically Why He
Can Not contribute.
GIVES SOME ADVICE
Better Devote Funds to Support
of State Law
Wonders Why Only National
Bankers Are Represented.

Arkansas City, has written an answer
to the letter recently sent out by The
national bankers litigation" commit
tee soliciting funds with which to en-
ploy counsel to test the constitutions :
ity of the Kansas -1Iaranty law. JEFF
fries reply is a gem of sarcasm. lie
represents the depositors of defunct
bank and is asked to contribute funGs
TO be used to attack the state guarant5'
law In giving voice to the sentiments
of these depositors Receiver Jeftries
speaks from experience with a bank
that had not been protected by the
guaranty law and that had fallen by
the financial wayside.
The letter which is addressed to eX-
Governor Bailey, as member of the
bankers committee. is reproduced be-
August II. 1909
Ex-Governor W. ]. Bailey, Atchkson,
Kansas:
Your circular letter of August 16.
1909, requesting the banks of the state
of Kansas, and particularly. the Ciu-
zens' and Farmers State bank of Ar
kansas City to contribute to fund for
the purpose of employing counsel to de-
feat the guaranty deposit law, was
very appropriately delivered to me as
the receiver of the Citizens and Farm
ers' State bank.
This bank. as a going concern, gave
on deposit about 100000 of the peoples
money. AS receiver of the bank 1 am
supposed, first of all, to represent the
depositors 1 know no one would more
willingly contribute to a fund to aid i'll
destroying any system designed to
render more safe and secure the peo-
pies deposits in banks, than the de-
positors of a defunct bank. These de-
positors are the men to whom the
argument, that all systems designed to
guaranty deposits in banks fosters
reckless banking, appeals most stroE gly:
aud they are the men whose desire for
the return of their deposits IS most
readily satisfied by the statement that
the sufety and security of deposits is
most wisely based upon the personal
character of the officers of the bank.
For these reasons, 1 say. your letter
was most appropriately delivered to
me as the receiver of the defunct Citi-
zens' and Farmers State bank No
liner exhibition of sense of the ap-
propriateness of things has come with,
in my observation in many days
However much 1 should like to
make this contribution which you
ask, do not believe that 1 have the
authority to do so. 1 will gladly sub
NIT the matter to Bank Commissioner
Dolley, or If you prefer, I might call
p meeting of the depositors of the de-
funct Citizens & Farmers State bank
and submit to them this matter
Without making the least pretence to
assertion that your proposition would
not meet with that cordial reception
which. from your letter, you seem to
anticipate. On the contrary, I beg
leave to prophesy that a majority of
the depositors would much more
readily authorize me to contribute to
a fund to help sustain the guaranty
deposit law. than to destroy it
But aside from the thoughts sug-
Eested by the reading of your letter in
lOC9l 7 n
like to ask you why not you attempt
to convey in your letter the impress
sion that the attitude of yourself an
.the parties which you represented in
this matter is not antagOnistic to the
law, but is wholly beneficent in it's de- |
sign caused by a sincere desire to set
tie the question of the constitution |
ality of the law. when it is a matter
of common knowledge, that you as
we'll as every other member of the !
committee which signed this letter |
are now. and at all times when this |
question has been under considera-
ton, have been unalterably opposed to |
the adoption of any guaranty law |
whatever. |
In the interest of fairness, may I |
ask. Governor. why is the committee !
which sent out this letter composed !
entirely of nataional bankers? Could |
you not find any competent state bank !
er who would serve on this committee |
Or are the national bankers the |
only Simon pure supporters .of a
guaranty law? ? who called this well I
attended meeting of representative |
bankers?" Where was it held, in |
Kansas or Missouri? Who was there ? |
] received no notice. If defunct |
bank is required to contribute
81 should certainly be entitled to |
vote on the amount of con-
tributiOn. or at least to appear before |
the assessing board.
Again, governor. if you desire to be |
absolutely fair, and 1 know you do |
counsel to assist in sustaining the law |
instead of destroying it; and why |
would it not be fair to employ law
Sers who have not been fighting the |
guaranty proposition in season and |
out of season? Do you honestly |
think tht Senator Long, B. P. Wag- |
gener and General Webster will |
trying to devise ways and means to |
sustain the law If this is to be an
effort to honestly test the law in |
order that all question as to its con-
stitutionality should be settled why
should not the banks of Kansas |
rather employ counsel to devise |
means to sustain, instead of, de- |
stroy it.
ef testing the constitutionality and
legality of the law before it has be- |
come the settled policy of the state,
and not of putting obstacles in its |
way, etc. / desire to ask, what
have you and the rest of your COM |
mittee, Senator Long, B. P. wag-
doing for the last eighteen months
but putting obstacles in the way of
the adoption of any guaranty law
Have you and these gentlemen,