Show an illusory law the bank deposit guaranty law in any form Is 1 a snare and a delusion de dares elms a banker in a state where it has been tried adding it Is a license and encouragement to It irresponsible responsible banks and banking and penalizes capital sol vency and prudent banking it creates a sense ot of security in the minds of the unthinking and uninformed forme d that ie to false and impossible to be realized on ultimately to compare it to legitimate insurance is without reason and ab surd it jeopardizes the solvency of all banks and the safety of all depositors tor for the theoretical safety of a few guaranty schemes always have been are and always will be impotent futile and disastrous it is not new now has been tried tailed failed and discarded at intervals for more than years in this coun try no well informed honest and in tell igent mind can accept it in prin ciple or practice competent bank su perv islon and rest restriction fiction of banks to territory that will warrant sufficient capital investment and accounts is the only sane and honest course and will afford all th the guaranty the depositing publio is entitled to as comp compared ared with all other human affat |