Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1911-04-13

competent OnoS, luu Ohldhoi"" ''''o
guaranty lazy Will continue TO live ana
be- bene0lction to the thousands OF
trusting depositors I'm oklahoma VINO
commit their savings into the keeping
Of state banks operating under TINS
law"
80 far as my investigation goes
no banking law, either state or ma
'ional. has teen passed in this govern
ments history that has met with as
strong and determined opposition as
the oklahoma banking law, and es-
peoiany that feature Of it which pro-
vides for tho guarantee Of deposits
placed In state banks. In their ei-
forts to discredit and overthrow TINS
law, its enemies have taken every un-
fair advantage, have purposely mis-
represented and misstated facts, ana
are now circulating all sorts OF false
rumors concerning It's practical oper-
alton, but be II said TO the credit oil
The intelligent depositors Of this state,
that all these false accusations have
failed to weaken their confidence In
the stability OF our law. Had the
same statements been made concern
Ing national banks that have been
made concerning our state banks dur
ing the past sixty davs, many Of the
pational banks OF Oklahoma would
now be in the hands OF receiver, ana
financial panic statewide would
have swept over this state, There Is
d reason for this and that reason Is
found in the operation OF the law In
oklahoma. After more than three
years of trial, no depositor In any
.tlto bank i'm Oklahoma has ever lost
one penny Of his money, and though
we have had several banks liquidated
under our state banking law, no In
convenience has been felt by any
man having his deposit In state
banks, nor has any depositor had to
wait one day to receive his money
I challenge the enemies Of the Okla
homa banking law to find another
state IN the Union where conditions
Of this kind prevail
"My experience In banking has
been In national banks. and IT GER
'ainly cannot be said Of me that / am
biased in favor Of state banks.
have studied this question from every
conceivable standpoint; havs studied
1t from the position of national
banker, and have sought out the ar
guments that could be used against
our law, and ! have no hesitancy In
now affirming that the principle OF
guaranteeing deposits Is Just as
qound, and just as susceptible OF
practical demonstration as the prln.
iple Of lnsuring property against
| loss by fire. orSthe human family
against loss by the rayages Of dis
case and death.
"As the governor Of this state, In
ierested in all the banking lnstitu'
tons Of the state, whether state OF
rational, l have at all times treated
with absolute fairness and impartial
ity tho different classes Of banks IN
| Oklahoma. There should be no con-
! flict between state and natlona
hanks, and this conflict / have tried
in every way possible to avoid. Al
tho recent session Of the legislature
when an effort was made 10 hav,
passed a law that would compel tn,
deposit Of all public funds In STATE
banks, ! opposed the proposition, be
cause / believed It unfair 10 discrim
! mate against the nationally banks, anC
that such law would tend to lncit,
conflict between state and nationa
| banks. My efforts I'm this direction
were successful The legislature hai
adjourned, and | confess that ] AN
both surprised and panied to fint
that scarcely had the Legislature
leased It's labors until there cam'
from many quarters OF the STATE wha
now seems to be pre-concerted ef
fort on the part Of many OF the lead
| Ing national bankecs OF Oklahoma L
/ dlscredlt and overthrow the stat,
banking law. I hope that this offor
on their part will cease. II conflic
CONFESS, II will come by reason Of un
fair attacks on the part Of the ma
tional bankers, and want TO say
here and now, that II conflict doe
Lome, and the state OF Oklahoma II
driven to the necessity Of fighting FOL
tho existence Of tho guaranty banking
principle. which It has established