| Show THE BANK GUARANTEE GUARA TEE Mr 11 Taft is still sUIl attacking the Demo Democratic Democratic cratic plank on bank deposit guaran guarantees guarantees tees ees with a fervor that indicates his alarm af ar the growing popularity of the th proposal In his hi most recent utterance on the subject he says The funda fundamental fundamental fundamental mental objection to the proposed plan to guarantee deposits in national banks anks is that it puts a premium on reckless banking and is an Inducement to reckless banking Relieved of the re responsibility responsibility responsibility to and the fear ear of his de do depositors depO pO the tendency would be to in induce duce duc exploitation manipulation and the use of ot assets In Jn a speculative way wa upon the he part of the banker The argument has been used and used over until it has become tiresome As Asyet Asyet Asyet yet no reason has been produced for forthe ho tho supposition that a guarantee plan would not induce such strict supervision lon slon of if national banks that reckless banking would be more than it its ItIs itis Is s now The present national bank law provides for Cor or examination of bank se methods and assets on a scale that hat would protect depositors fairly well if it f it were carried out in good faith If IC f every national bank b knew kney it was guaranteeing the deposits of or other na national ional banks the examinations would bp be b genuine there thera th rc would be such suchs I I ny fly of banking methods that the public i would be better protected than it Is Isnow Isnow Isnow now When John R B Walsh loaned millions of his own banks bank deposits to his rail rall railroads railroads roads the Republican comptroller of the currency knew it was dangerous for the depositors years before the crash came Yet there was nothing done to protect them there was no talk then of reckless banking because Mr Walsh owned a ri Democratic newspaper which fought Bryan and he was inter interested Interested ested in a Republican newspaper which obeyed his dictation The New York banks which issued millions of clearing house money mone did it on a mutual guarantee plan much less legitimate than the plan proposed by the Democratic convention yet Mr Roosevelt and Mr Taft had no objection objection objection tion On the contrary they praised the generosity and patriotism of the banks i which Issued this private guarantee currency CUrrency and made big profits on It Further Mr Ir Taft overlooks the fact that the Republicans of Kansas who know what the Oklahoma plan of guar guarantees guarantees is doing In practice have de do declared declared dared for the very thing he denounces as dangerous and the Republicans of all the middle west states are for the plan in Inspirit spirit if it not in platforms which may account for his anxiety on the subject |
