The Sentinel=record., 1910-02-06

oetalls to be worked out by them
 Dufl do know, sir, that if the terms ot this Dill are not changed no state bank ] III my state can get one dollar of this
 money. If you want to help the peo
 ple' If you want to help the little de
 positor if you want to help the Little
 bank in the locality from which the money is collected, why do you not accept this amendment
 The Vice,President Does the sena. tor from Arkansas yield to the sena. tor from Utah?
 MT. Davis. Certainly.
 MT Shoot Do I understand that the private banks or state banks of the senator's state object to public supervision and examination? Mir Davis. There is no law provid. ing for it.
 Mir Shoot. We'll, would they obiec, 1T under this bill they could be exam. MT. Davis. I am not in touch with them; they belong in our state to rne high-collared roosters. I helong to the other crowd. (Laughter.)
 MT Shoot. do not know 60 whom the other crowd" has reference
 MT. Davis. The horny y-handed. sun. burnt sons of toll.
 Now, Mir. President, as I said in tho beginning, with the general tenor of the bill l am most heartily in sym pathy- It encourages frugalitv amono the people; 1t encourages the spirit or saving; it encourages the spirit of small depositors. Nowhere I annre. hend, in any banking institution could man go in and deposit 10 cents on a savings account. By the terms or this bill, so artfully drawn so per- fectly honeycombed and sugsr-coated the unwary and unwlse are led to be- heve that because the poor man can buy a postage stamp or a stamp if you please, indicating that he has de. Fosited 10 cents in this savings fund. that it is for his interest and for his benefit, never dreaming. Mir. Presi- dent, never believing, never once thinking that his little money can only be deposited with this great cor morant of the public warfare, the na- tional banks of the country.
 l warn the senate now that when this section of the bill comes before that board of trustees. the attorney general, the postmaster-genera and the Secretary of the treasury-the board of supervisors that Is to man. age this great banking institution when this section comes before that board for their consideration and their construction, I warn the senate now. sir, that they may place upon it the construction that the national banks alone in this country have the proper public supervision and public exam nation. The details of this whole matter as 10 the running of this great financial scheme are left entirely in the hands of this board of trustees. There is no detail worked out in this bill. There are practically no limita- tions to their power They may be autocrats in the working out of these details. When they have spoken, SIT, there is no power on earth that can reverse their decision
 see in this bill, sir, scheme to turn over all of the money collected by means of this legislation into the hands of fhe national banks of this country. My people are in favor of 1t. but they do not understand it. When they see the milk in the cocoa nut they will understand it. "You can fool all of the people part of the time: you can fool part of the people all the time; but" thank God, you can not fool all the people all the time" They will soon wake up, and when the con- struction is put upon this provision that the national banks are to handle this fund, then. tell you, the people of this government will rise in their might, and you will call upon the rocks and the hills to hide you from their wrath.
 have no time of patience with the argument that hear going the rounds of this ichamber that this bill is un- constitut tional Offtimes, sir, the cor stitution is invoked when the rights of the people are involved. "Old Man People,Y MT. President, does not get many things from this government The drtppings from the sanctuary do not geherally fall on "Old Man Peo- ple' aChey fall Q the other fellow. This is bill, if properly limited and with pkcper safeguards thrown around itl that would afford an i'm measurable benefit to "old Man Peo- ple.r Now. ! hear the learned and