The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1910-01-08

interior cities, and thence back to the
neighborhood from which it come, to
supply the borrower, will not be at
tended with a profit levied at each
change and which must ultimately
be sustained by the borrowing class?
3 Does any one pretend that the CON-
eentration OF this financial, poyel. will
hot enable the great banks -'off tie
United States to dictate to thousands
OF thier agencies throughout the
Union TO the extent that the policies
of government will absolutely be
within their grasp?
We have bnt to recall, even with
the present limited opportunity for
dictation, the wonderful influence
exercised in 1896 by the great bankers
Of the East, when with bludgeon up
held. and Threatening tone, practically
every banker in the villages of the
United States was warned against
incurring displeasure by their sup
port Of Mr.. Bryan.
1t is not here to discuss the merits
Of the campaign of 1896, but it is to
remind you that the power then
exercised by the Wall Street Bank
was infinitesimal as compared with
the power that will forever be exercised
il the Postal Savings Bank is created
as method through which the great
national banker will have practical
domination OF the deposits of all the
people OF the United States, and
through him alone will these deposits
get back into the channels of public
I finance
II is not sufficient to tell you and ]
that some other method will be adopt
ed more equitable, more in sympathy
with the mass of the people, when we
know that the elements that are grasp
/ ing for the power made possible under
the Postal Savings Bank law have
4 never, since you and were born.
/ failed 10 grasp with an iron hand
every opportunity that afforded power
or profit to their greedy souls.
This appeal is not to one class Of
people to array themselves agains,
another. The small banker of the
/ United States will find his business as
utterly destroyed, as impossible OF
reasonable profit as will the borrowe.
find It impossible to obtain his needs
short of paying tribute to the concen
trated banking interests of Wall
1 Street.
We are appealing to ninety million
4 free American citizens represented By
kCohsress, not to place themselves
4 within the power Of scant one
/ hundred individuals and corporations.
Central Banks.
Central Banks" repeat it. 1t has
a sound like unto something to add
to the convenience of the people, AZ
added comfort, an assurance o1
stability. and all that.
i But beware, again 1t is q rose
with an odor sweet, but the thorn Is
vicious beyond comparison. The
United States Government may be a
stockholder,-yes majority stock
holder Is this the subterfuge by
which the spider would attract the
|, fly? Is this name the molasses on the
; rim of the bowl that contains the
vinegar Sixty per cent owned by the
government, and forty per cent by
: the people who control the govern
ment, and the total merely affords
the opportunity to concentrate the
power of finance where a handful OF
special interests can weld the chain
that binds the producers to the yoke.
, Pray haye them tell us when this
transfer OF. pQwer of government is to
end when tRe people themselves, at
libertysto govern this country. are tc
be so hedged about with irresistible
, influence as to make their political
action a matter of humble submission
, Or desperate consequence.
t Our government will never handle
| the banking question Alright until they
begin with the foundation stone, the
, substance of which must be: Bank
ing is not private business. Bank.
s ing is semi-public business. neces'
sary to be controlled by law, but not
9 to be the dictator of law
) Inevitable Is il that the question
, may be settled Alright, that banking
made more stable without being at the
same time made less convenient or less
=, economic. that We first declare that
banking is public business. to be
regulated and protected by the law
Of the states aud the laws of the
nation.
II is essential to protect the depos.
itor 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 and
opportunity for legitimate profits, and
any law that neglects to cover both
these phases Of The business Is
, worthless
In all these years Of progress where.
|, IN government in many of its features
has vasSly developed for The public
, good ii cannot he said that the
national banking law today in its
features of safety and public con
! veneuee is anything more than
+ barbaric
: suspended bank. we are bound to
} consider, al times Is inevitable. Just
SO long rs humanity may be guilty Of
criminal conduct, just SO long as
values Of any kind may perish. just
so long under any law is a bank sus-
pension a possibility. and knowing
this has the national banking law
kept pace with other Improvement In
government when It contemplates a
destruction Of credit, suspension Of