The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-12-19

Tho esteemed Muaaua,, T.mos. Democrat
+ speaking of The effort being made TO- have the
NJ governor call special session of the legislature
TO cure the defects lu tha s.rt" banking law pro-
tests that nothing can bee expected from the
Z present Legislature. because one house of it Is
u republican. 10 auys.
The bank guarantee law Is r. democratic
I. measure. Its success is % democratic sue
n IL is n difficulties % H. scarcely to
II be expected that a republican house WIN
come iu ana help the democrats take care
OF IT,
"its success is a democrats, success" That is
(; sound logic. Eut does % not follow that II it ls
a failure, ogrcgous, complete and dscrcdit
abe failure, that the responsibility for such
failure is also democratic We think there
4 be no reasonable objection to such logio2
The issue then turns whether the guar
nny law is a success or failure. whether dcmoc-
racy has call to burn red powder or do pennnce
And on that point let the present conditions
prevailing in state banking circles speak for
themselves
II Is fact. known to many. that the governor
and practically every other state official
whether democrat or republican. coufe+sses that
the very least that can he done tor the state in
4, the present circumstances is TO convene the leg
} islature and repeal the state guaranty law 1t
stands repealed now, SO far as beneficial or pro-
'l tectlve results are concerned Bocause the
okfsulgee bank which has been closed foF many
II months without any recourse, has finally told
the depostors OF that institution that their loss
III Is total unless the of the bank suffi
oent to rel mburse them TO an extdnt ....
AS n matter OF fact. the guaranty law was
not essentially any more democratic than Il was
republican. II was foisted the state by
band of demagogues as ignorant Of sound bank
ing and fiscal knowledge 1t was beref OF
statesnianship The democratic party, composed
at the moment Of band OF hungry politicians
ready to trade honor, candor and everything
else for place and authority made it democratic
doctrine by accepting 1t and indorsIng 1t.
Now the chickens have come home to roost,
we have no doubt the republican house, 10 bit
torly complained OF by the Times Democrat,
viii show itself entirely willing to work in a
staesmanlike way for the proper amGioroton
Of banking conditions In the state. But It will
not, II It possesses the virtue have fondly
attributed TO the republican party, Tor single
moment he a party 10 further imposition on
the crcdulity of the ignorant and the trustful.
The guaranty feature Is false economic
4 doctrine. 1t leads to grief 1t hasn't leg to
stand on either IN reason law or experience
The Chinese law. torteiting the life ct banker
who fails IS far more sound aud far prefer
able.
What Oklahoma banking laws require at this
II time is statesmaushp; the courage To do the
right thing or oklahoma without moments
consideration Of what the people may do TO
those who decide wisely and act couragcously
Again We say. accepting Governor Robertson's 3
dictum that the law ought to be repealed. but
that II means the political death OF the man
z who suggests such thing that Robertson''
best and almost asta opportunity to slsnalizt
his administration with an act Of genuine states
manship is to convene the legislature and brins
about a repeal Of this unsound, insufferahe and
altogether mischievous law,