Show I V MEYER AGA AGAINST BRYANS VIEWS VIE VS Inauguration of Democratic Policies Would Be Fright Frightful ful Says He HARD ON NATIONAL BANKS j SUDDENLY FEELS GREAT CON CONCERN CONCERN CONCERN CERN FOR Hot Springs Va Aug 23 Postmaster ter General Meyer Meer who is here confer conCer conferring zing ring with Judge Taft today toda expressed himself In an interview on the genera general political tI cuI situation and on the Demo Democratic cratic proposition of or guaranteeing na national national national bank deposits declaring the lat latter latter ter to bo be one step farther tarther toward so socialism in the present campaign the Demo Democratic cratic candidate is bringing forward a aI short hort I cut and plausible panacea against panics the guaranteeing of or de deposits depo deposits posits po in national banks At first sight this would appear to be a sort of ot In Insurance Insurance Insurance however is a con contract contract tract whereby one party voluntarily pays pas another party a fixed sum for tor in indemnity against loss and nd not to ex exceed exceed an agreed amount The guaran guaranteeing guaranteeing guaranteeing teeing proposition compels by the law the banks hanks to pay unknown sums for tor future losses and to an au ad unknown amount and subject to an an unknown risk over which they th y have no control From Meyers Viewpoint The guaranteeing of r deposits by all national banks would mean nothing less than that the conservative and an honestly llon managed etl banks would have hae havel l i to 10 pay pa the debts of ot banks which have han been heen badly and dishonestly managed Under this system there would be bl nothing to prevent a not over scrupulous scrupulous lous bus banking officer In the competition of ot obtaining deposits from going to top parties p and offering them C 6 per cent for Cor their deposits claiming that they the had no risks as deposits are aro guaran guaranteed guaranteed guaranteed teed The bank in turn would have hae to make Investments which would in involve olve volve great reat risks in order to make any money If It successful this would tend to In Increase Increase crease rease speculation which is one of ot the misfortunes of ot the tho present day with the wildcat schemes and amI high hl h finance that have been heen so s much in evidence within the last year ear earThe The proposed system would result In revolutionizing the methods of or banks and state banks and trust com corn companies would be he forced to enter under 9 the same arrangements in order to have their deposits guaranteed which would be an injustice to the national hanks banks as a the stockholders in the na national national national banks are ar subJect to double lia Ha liability bUIt for deposits which is not true of or state banks Solicitude for Wage Earner The deposits In savings banks throughout hout the tue country countr amount to about three and a half millions What greater injustice can than that these deposits which are made by wage earners erners and individuals of very moderate means should be taxed in order to pay for tor the losses of mismanaged mismanaged aged a ed banks In New England and New York there are no stockholders ers in the sav sax savings savIngs ings banks All the money earned is paid to the depositors Therefore Tt t would result In a direct tax on the de depositors depositors depositors and Would decrease the re returns returns returns turns which are coming to them themAs themAs themAs As Mr lr Taft TaCt has said in his speech of acceptance the Republican party prefers the postal savings sa Ings banks as a method tried safe saCe and known to be safe and as reaching many man more peo people people pie now without banking facilities than the new ne system proposed i fl In the postal savings banks the de deposits deI deposits I posits are guaranteed by the govern goern government government ment because the government has re received the deposits and made itself re responsible responsible They are led back into the channels of or trade by depositing them In the national banks in the districts where they have been brought to the postoffice The system of ot guarantee guaranteeIng Ing deposits in national banks as pro proposed proposed proposed posed by b the party vart is one step farther tarther toward socialism Cuban People Qualified Charles E Magoon ola oon provisional gov governor governor governor of Cuba talked with Mr Ir Taft regarding conditions In Cuba That the people of ot Cuba are qualified for self seIr seIrs government s is the positive assertion of ot Governor Magoon He said the com corn complicated complicated law which has Just been put putto into to practical operation in the island y if l a n rigid but successful test of oC Cuban Intelligence The Cuban people he Indicated are heartily in favor tavor of oC government ownership of ot public utilities utilities ties tie They now no own the telegraph lines and the test of or the popular will has just bce made on the ques quer question tion of private concessions for tor tele telephone telephone phone lines he believes has demon demonstrated demonstrated their desire for Cor government ou ov |