| Show REPLIES TO BRYAN ON BANK DEPOSITS Myron T 1 Herrick of Ohio Says Guarantee G arante Would Make MakeI J I All Bad MOVE IS SOCIALISTIC Ho nc Deplores DeelOres tue S And lId Would 11 Incentive For or Individual Initiative Columbus 0 O March 12 Myron T Herrick delivered an address s before tho the Ohio legislature today to on Guarantee of Bank Donk Depositors In re ye reply ply pI to TV W J Bryan Declaring that tho the guaranteeing of ot bank deposits Is Socialistic In that It weakens the tho incentive for Individual In Initiative along proper lines that it Is Isan isan an art unconstitutional proposition and unjust former former Gov Coy Herrick appealed to his hearers not to Jeopardize o the tho best Interests of ot tho the state of Ohio by bytho b bythe the tho passage of such a It law Mr 11 Bryan Brynn says the guarantee ot of bank deposits would revive reio tho the bush busi business bushness ness of ot tho the country countr said tho the speaker FAILS TO AGREE I dont agree with him hint The Tho period of oC depression following a panic Is a n natural economic phenomenon 1 tho the power POCI of legislation to alter I agree with Mr Bryan that the tho situation is not what wha it was IS in 1893 Then the con coni constant on stant slant agitation for free Crt fre coinage of ot sil sll silver nh ver var drove capital from front the country and caused violent liquidation At that time Mr Bryan advocated of sliver silver at nt It Iti to 1 I as ns u It panacea for tor all nil financial 11 Ills with the same Insist Insistency ency oney anti and certainty that ho now nOv con contends tends Onus for tor tho the guarantee o of ot blink de tie deposits posits THREE PRIME CAUSES Bank H are arc due to three causes acts of criminal intent and und In law second acts morally wrong but within tho the law third poor noor Judg judS Judgment ment What would bo be tho the effect of ot law guaranteeing batik bank deposits In each e ot or these divisions Longer life Uto for tor the Institution arid and greater loss to tho the com corn community the tho end finally filially came caine Mr Ir Bryan Dryan says that of hank bank deposits would make all tho tIle banks equally good I contend that such a law would make mako all Ill banks equally bad |
