The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1911-05-30


IF you would have your law sue.
cessfuL you must rid your banks not
only Of dishonest bankers, but Of In
competent bankers Incompetent
bankers operating under the guaranty
law In Oklahoma are just as hazard
GUS to the law as your dishonest bank
ers. Whether failure comes about
By dishonesty or by reason of the
fact that your cashier and your pres
ident are incompetent and loaned out
the money on inadequate security, the
result is just the same to the rest OF
the bankers Of this state You have
to foot the bill. And ! say. no set OF
men should be permitted to organize
state bank In Oklahoma unless
some man who is to be actively con
nected with the management OF thai
bank has had experience as bank
er. (Applause.) And when you come
to solve the question Of mans ex
perience and mans honesty, / don't
think that you do right when you
confine yourselves to an investiga-
ton Of his Oklahoma history
MANY Of you say this guaranty law
is burden. / agree that it is bur
den, but want to ask what banker
from other banks In Oklahoma doesn't
pay per cent on daily balances7
There isn't one OF you that isn't anx-
ious to get them. and go out and pay
q per cent on daily balances, and here
we have something like fifty men
from ali over the United States com
ing from New York, Chicago. st. Louis
and Kansas City, coming here trying
TO get you state bankers 70 put your
money in their banks. and they are
offering you and 21s per cent on
your deposits.
Seeking Burden
THAT is burden they are seek
ing. You say our laws are a burden
on you On these deposits for which
you pay the depositor nothing for the
use Of his money. If you would credit
the 2 per cent that you would pay
for these daily balances at the end
Of the year, and charge against that
every penny that Is assessed against
you on the regular assessment and
on the emergency assessments in this
state, then at the end OF the year II
you haven't a balance in favor Of
your bank, then I say the banking
laws are an ignominious failure. The
burden comes to you when the Law
comes and lays its hands on you and
says that you shall treat the depos-
itors the same as you treat your
selves. The law says that when a
man places his money in your bank
and doesn't charge you one penny for
the use Of il, You ought to put your
self in position SO that when he wants
his money he can have It, And I say
that this idea OF one banker standing
for another's loss is the idea that
communities are built on. Why, my
friends, / heard national banker
criticizing this law pointing to the
failure that occurred in this city only |
about two years ago when the Column !
bia Bank & Trust company failure oc-
Cured I remember that the most
wonderful thing WAS that there was
no panic after that failure. do say
the fact that no panic ensued aftcr
that failure was due to our guaranty
law. say today. without fear Of con-
trad:ction, that II that back had failed
under the old conditions IN Oklahoma,
some Of the strongest national banks
In this city and other cities OF this
state would have gone 70 the wall in
that failure, And yet you saw that
bank fail you saw 1t Iiquidafed, and
you saw the depositors get their
money.
you bankers have your part n