The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1910-01-09

must be: Banking is not a pri.
yate business Banking Is semi.
public business, necessary to be
controlled by law. but not to be
the dictator of law.
Inevitable is IT that the question
may bee settled Alright. that banking
made more stable without being at
the same time made less convenient
or less economic. that we first de.
clare that banking is a pubic bust.
ness. to be regulated and protected
by the law Of the states and the
laws Of thp-nation
u is essential TO protect the de-.
pOsitor. whose accumulated wealth
is the substance upon which the
bank lives and equally essential and
just Is IL that these laws must
protect the banker to the extent
OF fairness aud opportunity for le.
gitimate profits and any law that
neg.ects to cover both these phases
cf the business Is worthless.
In all these years of progress
Wherein government in many Of its
features has vastly deyel- ped fol-
the public good. II cannot be said
that the national banking law to.
day H. is features OF safety and
public convenience is anything more
than barbaric.
\ suspended bank. We are bound
TO consider, at times is inevitable
lust So Ions a. humanity may be
guilty of criminal conduct, Just so
long as va.ues ot any kind may
"erish. Just so long under any law
l. bank suspension \ possibility,
ana knowing this. has the national
banking Law kept pace with other
improvement in government. when
II Comtemplates destruction of
credit. a suspension OF business. a
condition Of riot. and of suffering
influence 0f such suspended bank
Oklahoma in the treatment Of its
state banks may not have perfec.
ton. but 1t does in actual ope-,-
tion. In th" presence OF suspend.
ed bank. place paying teller
where the national bank p.aae' a
policeman with q club ani gun
The Oklahoma law sa.c. ,ocal
credit, dispeis individual suffering.
preserves property values. where
the national bank Law IS utterly
destructive OF all those
There bt those vet, Who chatter
; ab i; wildcat banking and ire
sro- sibl, conditions resulting from
our lav, but what credi; shall he
given theories. when sufficient time
has elapsed 90 deal with facts
Il tl. governments cf The states
o! nation Is - regulate and project
,i' banking Industry. = the public
any la., entitled :" protection and
consideration
Generations haze dem u>,ra;ed a
safe estimate upon hank losses Wiz.
iIs' A. muc. certainty 3. upu'
other subjects covered ry -'ah.a
insurance. just as the family may
not have i,s physical comfort ia-
stroyed caused by the death o.
il. sup ort-r, jus, A. corflagra-!oa
may destroy buildings without te
stroy.ns the owners fortune. jus,
a. many individual i-sseS nay D.
appor-!on.G over vast number o!
people ~ as 20 0e trifling in IL
effect, 80 should the danger and
disaster 30 the individual deposItoT
and 20 the credit OF the comm L.
nifty De aveTtet and minimiTed b.
like numerous minor contributions,
and -he government OF the states
or nation can we'll afford 20 assume
temporary burdens where the re
suit is TO- the permanent and iast.
ing good of the people
In this connection. ny dear sell.
! ator. recent experience in Oklahom A
makes il incumbent on me % re
ques. that you con!er with N =
proper authorities OF the Na,iona.
Ranking Department in Washing
ton. and advise me upon the fol.
lowing proposition
p On December l+th. the Farmers
National Bank Of Tulsa, Oklahoms,
suspended, and was taken in charge
; by the Comptroller It had tied up
some twenty-one Thousand dollars
o. money due the First State Bank
: 81 Keifer ia nearby ytl.age). The
Keller bank vas small bank. with
, ten thousand dollars capital stock,
doing i fair business. and in good