The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1910-11-28
OKLAHOMA, KANSAS AND
NEBRASKA INTERESTED
Each Side Has Completed Its
Briefs and Prepared for
Oral Argument
(By Leased wlre)

/ N"HbiANN'it ~ Atf kNUf4 @e~v \ lN Ill
tofneys on both sides are ready for
The great legal battle over bank guar.
anty before the supreme eonrt of the
4 United States this week Each side
las completed lis briefs and prcgar.
ga also for oral argument
Kansas has three bank guaranty
cases pending in the United states
supreme court one OF them viii no,
lbc argued this time The other ETo
have been consolidated With the Oh.
lahnma and Nebraska cases and viii
be argued at one time The TWO
Kansas cases TO be argued now arH
the Larabee casp and the Assagia
state bank case. IN the l.atalls
case Judge Pollock granted an oTfee
eniolning the operation OF the guar.
anty law as to the Hutchinson bank
Ia when Frank Larahee was stock.
holder The state appealed from tina,
decision. IN the Assaria State banA
ease Judge Pollock dismissed the ar.
ton tn which state BANKS we're IL.
leres'cd. The state appealed this
case.
Not Eank Regulation
The case brought Is the nationaI
bankers IS ponding. but viii not be
argued until later In that case
Judge Pollock granted IN Injunction
ana the circuit court Of appenIs over
ruled him Then when tho anal or
der was taken IN pollock's court the
banks appealed direct 70 tie United
states supreme court whlcs bad de-
clined TO order the ceeo bronght np
from the circuit court on ~rit of
ceriiHeailon- However. about The
only question involved III THIS suit
That doesn't enter in.0 the Two nther
Kansas suits Is whct er natlorae
banks are government aseHelea ana
can be Disseminated against By
state laws III
The brief flied by counsel for ia
appellants IN the AHsaria banl essa
lays down these propositions eo1cofss
ing the Kansas bank guaranty law.
"The soealled bank Guaranty law IL
not regulation el either hanks sr
bunkng Il Is law creating al
suranee scheme 70 be condnctns IT,
the state. the espen>es OF whIca Are
70 be paid ont or moneys raised by
general taxation.
No Exercise Of police power
The insurer Ii tie state.
The fund for the payment Of lHss
es - derived from premiums paid IL
hanks and Che fund for the parlltat
of expenses from the general taxa
lion. These expenses Will largely exs
AaaH k44 nnn n.... .5.a4z taxfa ..z8tI 7. -
coed the amount OF annual premiums
paid by all banks ~
TIC assured are the lepossEofs
Nothing In which the banks. have any
beneficial interest Is insured
'The premium payers are banks
Voluntarily and taxpayers lc9ma
sorily1
Taxation for private purpose Is
{ a taking Of property without due prQ.
lceas of law
The law Is moi police regulation
IA statute TO compel payment Of debts
+ Is nor police regulation
This Law acts By way of Git j
taking the property Of one and gIvIns
! Il to another. Police power ls slin-
piy the enforcement OF TO ma xlflT
Sic utere tuo nj aiieaam non loetas
and acte by way of restraint.
An exercise Of tho police powng
eaR be Justified only bY the Keeoa d
1.-The public generally. This Law hcne
hts only limited class OF baut de-
positors. IL
The police powat exists nls
where a necessity for It's experience
exists. This law Goes not depend III.
on the necessity Of those benefited
the depositoli--for rs existence. be.
cause It may be pnt IN action only
By the voluntary act OF private b4nhs
ling corporations
TIE law Is therefore not an exer-
else of the police power no other
lpublie purpose justices Il
Governments we're not Instituted
for the purpose pf insuring deposits
TOR any other property Interests
Considered as IN act FOR the relief
Eos sufferers from bank failures or ase
ian act TO pay the debts oE banks. lie
purpose of the act il private ard net
public
Doesn't Benefit Pubic e
Taxation for The purposes III shIs
law IL therefore taxation for privatu
purposes.
ArA~ ettlt mtai ~ p1.r - -
f44 sea q 4 ~. i il = s. il. IL