The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1914-01-30
Il BR4FF ron THE DEFENDANT

Adverse agricultural conditions and a good deal of bad bank
ing nave brought On an epid -mic of failures wherein a lot of depos-
itors have suffered. As II all epidemics, prompt and vigorous treat
men, Is need Surely, no depositor, borrower or banker will quar-
But ism here considerable danger that u lawmakers may
Sound an ve15 ff 6s i s h UoS'f Deposit sit { GuaraHt 70 looks %i 0 so a d lnia s1e
to 6i.t 1ys; an. iaae 5 IKE a mustard plaster slapped or the wrong man
ments = misdeeds he has not the slightest part.
fair3 IS it essential?
no perhafs the fact that they have thus far paid out more than
st tloos Beyond their control, may have somewhat biased their
Of mons If 50, one finds it in his heart to forgive them readily.
fot answer to the second question we point to the record of the
national banking system in protecting depostors for the past fifty
urcs A sanitary commission, if YOU please, REQUIRING each bank TO
keep its premises clean-lest an epidemic be started We might
banking department to administer preventive treatment to its state
banks and that they, too. are afording ample protection to depos-
For Mississippis banking ills several prescriptions are thus far
Senate Bill No; As, generally called the Kyle Bill, proposes to
pFpy H%'s i ia cont .m9ptesf tank iHs sUpst 1G"6S5q pH three 5he 'G ex,mi0 of
ers OF equal authority, chosen thru civil service methods before a
lines that experience has shown feasible and sound in other states.
House Bin No. "a is a practical copy Of Senate Bill No. 4s, diff
ferlng theretrom I'm ONLY two particulars. Nov observe ONLY)
Under H. b IA, would-be bank examiners, after proving their quail
stump for selection by popular vote; the idea being that the bank,
ing department must not get into politics! God save the mark. Is
this most important field could be brought down to the realm of
fitted for such a service out of the racer Did you ever stop to think
that the men who kn9w most about auditing and credits haven't
will hardly give up a lot of good time and money on the uncertain
Then House Bill No. IA has another feature: an optional sys-
TEN OF deposit guaranty in which banks may or may not participate
according to their several Preferences-a mustard plaster to be worn
IL DESIRED. But you dom have to put it on unless you want to. This
rs sane enough provided the plaster be nece ssary at all.
But look at this combination: Deposits guaranteed in some
perhaps most of the banks; and the bank examiners, or inspectors,
elected BY popular vote. To begin with, not a great proportion Of
Msslsslppls population carry credit balances in banks; to the 9TH
ers immunity from loss is proposed. Is it sound Judgment that the
examiners should thus be relieved of all responsibility to those att
whose hands they receive the office: Hardly! Is it fair that banks
should be asked or required to bear all the brunt of failures among
themseiVes-and that the prevention of failure rest upon men Sc
selected by the people who can not be hurt? Again we say. Hardlv!|
Under no circumstances should the Legislature lose sight of its
'V to give everybody a square deal-and we don't think they will
" these two ingredients in H. b. I74-elective examiners
~uaranty-wll never mix.
: of Senate Bill No. IS work out successfully in ma
10 successfully in most state banking systems |
7ol try to improve on them-att the risk II
Prevention of failures will prevent
IS OF making the good banks
II least in some off
he banks were
heir obi