The Daily Alaska empire. [volume] (Juneau, Alaska) 1926-1964, 1936-07-21


condemned the bank deposit insurance bill passed by
the Democratic of Representatives that year.
This year it ignored the matter entirely; thus its
position of four years ago stands unrevoked.
/ Position of the Republican nominee, Governor
Landon, may have had something to do with the
omission by the Republican platform builders. When
the Banking Act of 1888 was before the Senate the
Kansan was the man who sent the following message
to Senator Arthur Capper of his home state:
Pending banking bill extremely injurious to state
banks and threatens their very existence. 1t is es-
sental dual banking system be preserved in order
best farm and community interests in Kansas.
Urge your active opposition to the guaranty section,
which could be entirely eliminated from the bill"
The Deposit Insurance Act passed by the House
in 1882 contained specific provision TOR the pro-
lection of depostors in state banks upon terms of
equality with those of Federal Reserve member banks
The same provision in the act of 1888 and is in
the law today. Governor Landon in address read
for him by the Bank Commissioner of Kansas before
the State Bank Division of the American Bankers
Association in Chicago, September g. 1888 said in
part:
There is question in my mind but that the
guaranty of bank deposits is greater blow to the
ultimate welfare of the American people than the
widest initiation of the currency could possibly be
In my judgment the guaranty of bank deposits, If
carried out in this country to its logical conclusion
will completely destroy the entire banking system of
the Nation"
Governor Landon prior to his nomination, avowed
desire to take the people into his confidence and
express his views in connection with the platform
of the Cleveland convention. He did not hesitate to
declare his devotion to the gold standard and his
desire to return to that discarded and dscredted
system as soon as possible without unbearable injury
- of
dtions Under the circumstances it is only fair to
accredit to Governor Landon the same degree of
sincerity and consistency with respect to his position
on the question of bank deposit insurance.
1t is probable that the people OF the United
States will not look with favor upon any possibility
of return to the conditions under which they suf-
fered prior to the passage of the act providing nsur
ance for bank deposits. During the last IL years of
Republican administration there 1l,457 bank
failures with deposits of five and half billion dol
lars, eliminating in the complete collapse of the
national banking structure at the close OF the Hoover
administration in March 1888 Since that time there
have been only 81 failures of insured banks, with de-
posts of $l4S6SOOO and all depositors were promptly
reimbursed up to $1,000 each. Bank deposits since
March, 1888 have increased more than 40000O000O.
Lest we forget the parking regulations on the
principal downtown streets go into effect tomorrow.
After all the display of power, Tokyo should not
feel hurt of her neghbors decide to keep that
date of the imaginary enemy.
There's an air of well being about the Dionne
family picture these days that missing prior to
the arrivals of the quintuplets.
The collapse of the League of Nations shows
what happens when the players are allowed to talk
back to the umpire.-Boston Globe.
During the recent weather the electric chair
hasn't been the only hot seat-Indianapolis News.
In general the history of third parties is that
they go the way of all flesh-Detroit News.
Recovery: Spend it now and charge 1T to our
NEUTRALITY-SUSPICIOUS. Beacon Journal.
The political prophet is without honor outside
his own corner.-Toedo Blade.
Add Definitions Jaywalkng-a form OF suicide
popular in the motor age.-Dallas News