The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1911-04-13
(From The Oklahoman)


on that subject issued by him since
his election. The statement leaves
nc room for doubt as to his position
| in regard to the law, and Is intended
to quiet the intimations that he was
really in sympathy with attacks tha'
recently have been made upon the
law. He makes some hard raps al
the national bankers and others who
have been attacking the law. He de
clares that had the same statements
been made about the national banks
that have been made in regard to the
state banks, during the last sixty days
many OF the nationals now would be
in the hands of receivers. He as
serts that the ability of the state
banks to stand such a test proves the
efficiency OF the law.
The governor also announces IN
plain language that If the national
banks want to continue the fight he
Is ready to fight back, even TO the
extent of Withdrawing deposits OF
public funds from nationals and turn
ing them over to the state banks, al
though he opposed the passage OF a
law requiring such action at the re-
cent legislative session.
In his statement Governor Cruce
says:
so far as my investigation goes
no banking law, either state or ma
tional. has been passed in this govern
ment's history that has met with as
strong and determined opposition as
the Oklahoma banking law, and espe-
cially that feature of it which pro
vides for the guarantee Of deposits
placed in state banks.
In their efforts to discredit and
overthrow this law, its enemies have
taken every unfair advantage; have
purposely misrepresented and misstat'
ed facts. and are now circulating all
sorts of false rumors concerning its
practical operation, but be 1t said TO
to the credit of the intelligent de-
positors of this state that all of these
false accusations have failed to weak
en- their confidence in the stability OF
our law.
The Reason Assigned.
Had the same statements peer
made concerning national banks tha
have been made concerning our state
banks during the past sixty days
many OF the national banks of Okla
homa would now be in the hands o
receiver. and financial panic state
wide would have swept over the state
There is reason for this, and that rea
son is found in the operation OF th'
law of Oklahoma. After more thar
three years OF trial, no depositor II
any state bank in Oklahoma has eve
lost one penny OF his money, and
although we have had several bank
liquidated under our state banking
law, no inconvenience has been fel
by any man having his deposit II
state banks, nor has any deposito
had to wait one day for his money.
Il challenge the enemies of the OK
lahoma banking law to find anothe
state in the union where conditions
Of this kind prevail.
My experience in banking ha
been in national banks. and 1t Ger
tainly cannot be said to me that an
biased in favor of state banks. have
studied this question from every con
ceivable standpoint; have studied |
from the position of national banker
and have sought out the argument!
that could be used against our law
and have no hesitancy in now affirm
ing that the principle of guarantee
ing deposits is just as sound, and jus
as susceptible of practical demonstra
! tion. as the principle of insuring prop
erty against loss by fire, or the hu
man family against loss by the raw
ages of disease and death.
Absolute Fairness.
As the governor of this state, in
/ tereSted in all the banking institu
tions OF the state. whether state oil
national, at all times I have treated
with absolute fairness and impartial
, ity the different classes of banks ii
| Oklahoma There should he no con
| tlict between state and national banks
and this conflict. | have tried in ev
cry way possible to avoid. At the
recent session of the legislature
when an effort was made to have pass
ed law that would compel the de
posit of all public funds in state
banks. opposed the proposition be
cause | believed it unfair to discrim
mate against national banks, and that
eueb a Low would tend tO invite a