Omaha daily bee., 1909-01-11

deposits as are the poles from each other.
Mr.. Graf has practically the same ideas
about what the proposed banking bill
should contain ss has DR.. Hall So his
selection IL a feather in the cap of the
Nice chairman.
Especially IL the defeat humiliatiHg TO
MIR. Bryan, for the reason that he had
Dr. Hail out at Fairview and read the
riot act to him; gave the banker his or
.ders to be carried out. Instead of TAX
ing orders, DIT. Hall proceeded to give the
presidential candidate his own ideas about
legislation affecting banks. 1t was pre-
dicted at the time that Mr.. Bryan would
have to surrender 20 DR.. Hall. and the
result shows that rather than have an
open rupture he gave up his ideas for
the Immediate payinen of losses in case
Of a bank failure. Surrendered principle
as II were. rather. than have an open
rupture with DIR. Hall. for there is no
doubt the presidential candidate had a
majority Of the democrats in the hollow
Of his hand.
To secure the place for Graf is was neces-
sary for the democratic caucus to defeat
w. ]. Taylor of Custer county. who has
already demonstrated great ability as a
leader OF the majority. Mr.. Toylor has
some ideas OF his own about the banking
business and he is strictly opposed to any
limit being placed upon the liability OF the
banks to make good the losses by failures.
4 The bankers naturally desire a limit txed
as to the amount Of money which they may
have to contribute annually to the guaranty
fund. TAYLOR wants all losses made good
ana a levy on the banks at the time OF
failures sufficiently high to create a fund
10 pay all the losses. Governor Shsllen-
berger wants that levy limited to not more
than 2 per cent OF the deposits in any one
wear. According to Mr.. Taylor, the fund
would be wiped out by the failure of one
of the large city banks. So Mr.. Taylor mad
to be sacrificed.
Mr.. Graf has yet to be confirmed by the
caucus and before that by Mr.. Bryan so
IL remains 10 be seen whether the presi-
dental candidate has the fight in him to
q change this craftsmanship. .
Here is what Mr.. Graf had to say about
2 the guaranty of bank deposits:
The matter of immediate and prompt
( pnyment OF losses was threshed out at the
Denver convention and there is no neces-
sity for any division here. 1t was proposed
AT Denver that the word Immediate should
be inserted in the platform and a big fight
was the result. Immediate payment was
turned down ana prompt phg Hlehh iva
s'tuted. So far as l am concerned that IL
sufficient for me. l shall stand for a Dill
providing for. prompt payment of losses In
case OF a bank failure
= Mr.. Bryan, IN his public talks and
Through the press, has insisted that pay
nment must me Immediate" DR.. Hall has
vlnsisted that prompt payment would be
5Fsoon enough. The next move is up to Mr..
Bryan.
Incidentally. while there is not a demo-
rcrat here sufficiently brave publicly to say
a word against the dictatioH OF the presi-
dental candidate. there are a lot of them
who do speak out in private. One OF these
suggested last night that the legislature
was foolish 10 be dictated to by Mr.. Bryan.
for the reason that Bryan could no no po-
litical injury 70 a single member. though
upon each Individual member Mr.. Bryan is
2 dependent. and has been ever since he made
running for office a professional business.
So the power Is I'm the hands Of the legis-
lature and Mr.. Bryan could be made to
take a back scat. this man believed. II the
majority party only had a leader to start
them off In rebeliion-but It hasn't.
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