Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1909-02-25


not yet passed the guaranty bill, bu
before that body ceased the con
sideratlon of the measure yesterda
afternoon 1t passed an amendmen
which makes the guaranty proposi
tion compulsory with about one
third of the state banks in Kansas
The House still has time to re
serve this action. This is exactl!
what the minority wants and is IL
direct opposition to the stand taker
by Republican party leaders who
have consistently stood for a vol
untary guaranty deposit law.
This amendment was offered by
Representative John A, Edwards
chairman OF the House committee
on banks and banking, and was
adopted by a vote of 81 to 40. The
original bill provided that new
bank could not participate in the
benefits Of the guaranty proposition
until they had been in business for
one year. The amendment offered
House provides that this shall not
apply to new banks in new towns
nor to new banks in old towns in
which the old banks refused to come
under the provisions Of the guaranty
law.
In other words it compels the old
banks in old towns to come under
the provisions of the law in order to
prevent new banks from stepping in
and beginning business with the full
protection of the guaranty fund.
This is one of the tenets of the
minority. The House has just voted
down an amendment offered by Rep
resentative C. F. Foley, providing for
compulsory participation in the
guaranty deposit provision and
Speaker Dolley was indignant over
the action of the chairman of the
banks and banking committee and
those Republicans who spoke for the
amendment.
Il am beginning to. feel" he de-
"that the minority is to be
for parting company
with the majority. You have just
voted down an amendment providing |
for a compulsory law and now You
are talking about making it compul-
sorry to about one-third of the banks
of the state in round about way. If
you are going to go one-third of the
way, why not go all the way and
fulfill the pledge made in the DEM
ocratic PLATFORM"
Mr.. Edwards contended that un-
less such an amendment were
adopted the law would create
monopoly; that no new banks would
be organized for the reason that
they could not succeed outside the
pale Of the law, when other banks
in the same city had the protection
of the state fund. Speaker Dolley
held that the amendment would
make the law unconstitutional.
the House adopted 1t
With almost as many Republicans as
Democrats voting for it.
when the consideration of the
guaranty bill prepared by the House {
committee began, Representative c.
!. Foley of Rice county offered an
which consisted of an |
,ntirely new bill drawn along the
ines suggested in the Democratic {
,latform. 1t provided for compul- I
ory participation in the guaranty i
und and was admitted by Speaker I
)olley to contain some features I
which we're better than the commit /
ee bill. However the only feature b
Z the amendment discussed yester- I
az was that relating to compulsory I
t
Mr.. Foley took twenty minutes to ?
xplain his measure and made
trong clean-cut talk. The argument t
,ade against his amendment was v
hat 1t would make the guaranty bill u
unconstitutional. Most Of the lawyers t
I the House took this position. Mr.. c
'oley held that there was nothing
, his measure to make II unconsti- n
ntional and Representative w. L. t
cunningham, on the Republican side b
I the House took the same posi- o
on. However when 1t came time 0
, vote the amendment was defeated b
y a vote Of rs to 40. 1t is likely "
lat sections Of the Foley amend o
lent will be offered for sections Of
,e committee as the discussion goes II
! ana that some Of them will be Il
iopted. u
The bin passed the Senate yester- p
AZ morning and was Immediately v
mt over to the House. Senator Clad q
amilton Of Shawnee county regis b
red TIE only vote against the bilL Z
! L