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The Commoner.
VOLUME 11, NUMBER 18
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Prepare for Victory
in the Campaign of 1912
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U?reffi4lS&7&CT4ra&! 953S33a
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OIOiAHOMA'S BANKING LAW
Governor Lee Cruce, in Oklahoma
City Tribune: So far as my investi
gation goes, no banking law, either
state or national, has been passed
in this government's history that has
met with as strong and determined
opposition as the Oklahoma banking
law, and especially that feature of
it which provides for the guarantee
of deposits placed in state banks. In
their efforts to discredit and over
throw this law, its enemies have
taken every unfair advantage; have
purposely misrepresented and mis
stated facts, and are now circulating
all sorts of false rumors concerning
its practical operation, but be it said
to the credit of the intelligent de
positors of this state that all these
false accusations have failed to
weaken their confidence in the sta
bility of our law. Had the same
statements been made concerning
national banks that have been made
concerning our state banks during the
past sixty days, many of the national
banks would now be in the hands of a
receiver and a financial panic state
wide would have swept over the
state. There is reason for this, and
that reason is found in the operation
of the law in Oklahoma. After more
than three years of trial, no depositor
in any state bank in Oklahoma has
ever lost one penny of his money,
and though we have had several
banks liquidated under our state
banking law, no inconvenience has
been felt by any man having his
deposit in state banks, nor has any
depositor had to wait one day to
receive his money. I challenge the
enemies of the Oklahoma banking
law to find another state in the
union where conditions of this kind
prevail.
My experience in banking has
been in national banks, and Uncer
tainly cannot be said of me that I am
biased in favor of state banks. I
have studied this question from
every conceivable standpoint; I have
studied It from the position of a na
tional banker, and have sought out
the arguments that could be used
against our law, and I have no hesi
tancy in now affirming that the prin
ciple of guaranteeing deposits is just
as sound, and just as susceptible of
practical demonstration, as the nrin-
ciple of insuring property against
against loss by the ravages of disease
and death.
As the governor of this state, in
terested in all the banking institu
tions of tho state, whether state or
national, I have at all times treated
witn absolute fairness and impar
tiality the different classes of banks
in Oklahoma. There should be no
conflict between state and national
banks, and this conflict I have tried
to avoid in every way nossiblo. At
tho recent session of the legislature
when an effort was made to have
passed a law that would compel the
deposit of all public funds in state
banks, I opposed the proposition, be
cause I believed it unfair to dis
criminate against national banks,
and that such law wnnin
to invite a conflict between state and
national banks. My efforts in this
direction were successful. Tho legis
lature has adjourned, and I confess
that I am both surprised and pained
to find that, scarcely had tho legis
lature ceased Its labors, until there
came from many Quartern in mq
state which now seems to be a pre-
cuuvciicu uuuri on tne part of many
of the leading national bankers of
Oklahoma to discredit and overthrow
the state banking law. I hope that
this effort on their part will cease.
If conflict comes, it will come by
reason of unfair attacks on tho part
of the national banker's, and Tmnf
to say hero and now, that if a con
flict does come, and the. state of
Oklahoma Is driven to tho necessity
of lighting for tho existence of the
guaranty banking principle, which
it has established among Its people,
the state will not shrink from the
contest.
Practically one-half of the state
money now held by the treasurer of
this state is deposited in national
banks in Oklahoma', though the state
banks outnumber the national banks
in the proportion of two to one.
What is true of the state money, I
am sure, is likewise true of the city
and county moneys in Oklahoma.
Certainly the national banks cannot
claim that they have been unfairly
treated in this regard. If these funds
were to be withdrawn from the na
tional banks and deposited in the
state banks, it would increase de-
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DR. GUY CLIFFORD POWELL.
The secret of how to use the myster
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"RANGER" R1CYCLES
Have imported roller chains, sprockets and
peaats; tvew vtfarture Coasler-Braxes ana
tittos; j-UHCture erooj Tires', Mehtst zraat
equipment ana many advanced features po
sesseunynootnervrneeu. uuaranteeasyrs.
FACTORY PRICES SJgJTffi
others ask for cheap wheels. Other reliable
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hand machines $3 to 98.
10 DA YS'FREE TRIALS
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blc vele or a nalr of tires from anyone at any
price until vou pet our blirnevr catalog and
special prices anu a marvelous new cjjcr,
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woaotorlirakoRcnrWhcels,iamp5,
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Illdor Agents everywhere are coining money selling our bi
cycles, tires and sundries. Wrlto todnT
MEAD CYCLE CO., Dept. B (77 CHICAGO
Subscriber Jiavertisliis Bern.
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The Commoner, Lincoln. Nebraska.
COR SALP, BY OWNER, ABOUT TWO
1 thousand acres of improved farming
lands (large and small farms) situated
near Wheaton, Minn., and SIssoton, S.
D., from $35 to $55 per aero; buy from
mo and save agents' commission. B.
II. Llllejord, Wheaton, Minn.
V7ILD MALLARD DUCKS RAISED
TY in captivity; flno for decoys; tamo
as domestics; requiro no enclosuro;
stock and eggs for sale. E. E.
Speaker, Lake View, Iowa.
17 ARMS FOR RENT OR SALE ON
crop payments. J. Mulhall, Sioux
City, Iowa.
0bS7r
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1 lAi
w TIRES
COMMIS-
Chas. C. Seowlr,
A GENTS WANTED BIG
sion to nustiers.
Lawrence, Kansas.
DURNINQ BRANDS, STEEL STAMPS,
- Stencils for marking farm imple
ments; cataloguo free. Reese & Co.,
44 Vesoy Stroet, Now York.
ROOK OF 500 FARMS.,ETC., EVERY--
where, for oxchange; Send descrip
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,rado, Kan.
OPRINGTIMB MELODIES SOPRANO
and alto or tenor, or quartette; com
Ploto, 10c; toll musiolan of your0 family.
it iiymn oooic. js'ranic C. Brown,
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QNLY FOUR CENTS IN STAMPS
y furnishes, postpaid, 184 pagO book
let on "The Doctrines of tho Now
Church." Rev, Louis Goorgre Landen
borger, Windsor Place, St. Louis, Mo.
ri