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MANY LOCAL REPUBLICANS WANT BANK GUARANTEE national banks to keep a certain per The guarantee deposit plank in cent of their deposits in reserve, the Democratic platform, and the thereby protecting that far the parposition of Mr. Taft on the question, ties who insure or who deposit. Both is giving the Republicans, locally and laws are intended to protect the in the Nation a great d'eal of trouble. man who deposits money for insurKansas, Colorado and Oklahoma ance or deposits money for safe keepRepublicans are out openly advocating and both are recognized as good ing the proposition and to that extent laws. are fighting the position taken by But the proposition of the DemoMr. Taft and the platform adopted at cratic party to make the banks take Chicago. part of the "profits" made from Locally, Republicans of promi"raw material" of the depositors and nence are openly supporting Mr. Bryput into a separate fund, like Oklaan on account of his position, that homa meets with the opposition of depositors in national banks are enthe bankers and the subsidized Retitled to as much security as the publican press. United States government. Some of The operation of the law would these Republicans may have been have been beneficial in this comcaught in our bank failures and are munity and the depositors of the old therefore convinced that secured deColorado State Bank would not now posits would be a good thing. be waiting for the thirty-five thouIt was to be expected that the sand dollars yet due them, and waitmorning paper would oppose that ing until Receiver McCurdy can sell plank, because it has been and probthe $75,000 in sugar stock to make ably always will oppose any reform his final payment to them. Surely advocated for the good of all the the old depositors of that bank are people. not going to agree with the News, The recent article printed in that that the proposition is wrong. Besides it is not an untried experiment paper, on the subject of securing debut its success has been demonstratpositors, seems to have been written ed. Twenty-four hours after a bank when Uncle Avery had one of those "brain storms" to which he has ever failure in Oklahoma all the deposbeen subject. and at a time when itors that wanted their money were he hardly knew what he was saying. paid in full and twenty national banks have applied to surrender their It is probably the most illogical procharters and become state banks, beduction ever printed in that paper. After saying the Democrats are atcause Attorney General Bonaparte has ruled they cannot join with the tempting to excite class against class it says: state banks in guaranteeing their dein truth the depositors money is positors and for the further reason, only the raw material, which IS turndepositors are withdrawing their deed over to the bank to work up into posits from the national banks and profit for the bank. putting them in the state banks. If this be true, why should not the The passage of this law would do banker, who makes his money workaway with safety deposit boxes as a ing up the depositors money for his place to store money and would readvantage? The New York laws sult in millions now horded being require all the insurance companies put in circulation. If for no other reason on earth Mr. to keep a certain amount of money in reserve, so does the laws of other Bryan should be elected on this one issue alone. states. The banking laws require the