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The Commoner
. - - WILLIAM J. BRYAN, EDITOR AND PROPRIETOR
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OL. 18, NO. 2
Lincoln, Nebraska, February, 1918
Whole Number 706
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Put none but ratificationists on guard. Democrats and Re
publicans everywhere should see to it that every candidate for the
state legislature is openly pledged to vote for the ratification of the
National Prohibition Amendment. Take no chances This is
the supreme domestic issue until Constitutional Prohibition is secured.
uaranty of Deposits
Coming
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slow will be oiin&' aV r'eco'mnl&nnation made
Con. John Skeltoh Williams, comptroller of
currency, in his recent report:
respectfully submit for the consideration
to congress the expediency and advantage of
riding for the federal insurance or guarantee
ill bona fide deposits in national banks where
p balance to the credit of any one individual
mnts to a sum not exceeding $5,000.
pOne of the beneficial effects of such a plan
lid be to bring out of its hiding places and
circulation the large amount of money
i-ich is being lioarded, and which the owners
pre been unwilling to place with any bank
Lich is. not guaranteed by the government.
Ich a law would also have thj advantage of fur-
ihing particularly to the poorer classes, Whose
rnlus earnings are represented solely by their
rings deposits a guarantee which would con
fute greatly to their peace of mind and com-
rt. It would give them the assurance that
sir funds can not be lost by bank failure or
any financial panics. There have been" too
my cases where the failures of banks have
lought ruin to hundreds of individuals and
lilies and have sometimes driven men and
men to suicide.
"By limiting the amount guaranteed to $5,000
r any one depositor, we prevent the ably, effi-
mtly, and Jionestly managed bank from being
laced on the same competitive plane with the
ink whose management is less efficient, or less
immendable; for depositors whose balances
,'. ,
THE ROLL OF HONOR
List of States That Have Ratified the
National Prohibition Constitu
tional Amendment
1 MISSISSIPPI, January 8, 19.18.
2 VIRGINIA, January 11, 1918.
3 KENTUCKY, January 14, 1918.
4 SOUTH CAROLINA, January 23,
1918.
5 NORTHED AKOT A, January 25, 1918.
6 MARYLAND, February, 1918.
will amount to more than $5,000 will necessar
ily exercise the same care and discrimination
in the selection of their bank depositaries that
they new use when there is no such government
guarantee.
. "It may bo well ,to provide that;i;onlytjhoMi
dposIUfrshouldrc:ivthegoYernment,swguar
anteeupon''wJii(Sh the- rate. r of IfiterVstHk' 'paTd'
by the bank shall not exceed 3 per cent per an
num. It is suggested that the government pro
vide a fund to meet any losses which may arise
under this guarantee by the imposition of a tax
not exceeding one-tenth of 1 per cent per annum
on the average amount of deposits affected by
the guarantee, as ascertained by the banks' pe
riodical reports to the comptroller of the cur
rency."" Mr. Williams has made a great comptroller
none greater since the' office was created--and
this is his best act.
It will do more to bring savings-out of,jiid.i.ng
and to prevent bank failures than anythjng that
has. heretofore been officially recommended.
The "democratic platform of 1908 declared for
a guaranty of deposits and five states haye
adopted guaranty systems, but this is the rst
official recognition the reform has received from
the federal government. '
The Commoner hastens to extend hearty con
gratulatidns to Comptroller Williams upon the
signal. S3rvice he renders the country in urging
this security to depositors. The. press should
endorse the proposition with earnestness," and
individuals should write their members of con
gress and senators to support It. Another great
reform Is on the way. W. J. BRYAN.
ES j 2J& ...mI
Following is the pledge of the democratic
party respecting the guaranty of bank deposits,
adopted by the democratic national convention
of 1908:
"We pledge ourselves to legislation under
which the national banks shall be required to
establish a guaranty fund for the prompt pay
ment of the depositors of any Insolvent bank
under an equitable system which shall be avail
able to all state banking institutions wishing to
use it:.f' "
.
o
The drys have already captured all the popu
lar national melodies. They have ''Yankee
doodle," "Dixie," "Old Kentucky Home and
"Maryland, My Maryland." The wets must
content themselve with "Oh, How Dry I Am,"
and-"We Won't go Home 'til-Morning."
No War Cabinet
in -i n-w iw-r
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Th& President's 'rlghV m.oppdsfrirtbe
posed war cabinet. It' would be a confession
that his cabinet had broken down and would
give encouragement to the enemy. If such a
measure passed it would be construed abroad as
a vote of lack of confidence.
If the critics of the administration could win
such a victory, they would immediately insist
upon naming the new men, and would construe
the vote to mean that the new men should be
taken from among the critics.
In Great Britain the king must summon the
opposition to form a cabinet; will the opposition
take the public into their confidence and sug
gest the names of the new cabinet? " !
W. J. BRYAN., ""
The chief difficulty in Russia seems to be the '
establishment of a stable government. It .is'
rather annoying to a well-meaning .people to be,'
forced to the necessity of sitting up every night
with the government for fear somebody will un
lock the stable door.
CONTENTS
X
GUARANTY OF DEPOSITS COMING
NO WAR CABINET NEEDED
WHY THE WAR MUST BE FOUGHT
THROUGH
,.-NEITHER DEAD NOR, SLEEPING
WHY WAIT?
WOMAN'S CONSCIENCE VINDICATED
- ' A REASONABLE REQUEST
. MR. BRYAN'S REPLY TO ARTHUR
BRISBANE
SECRETARY BAKER REVIEWS WORK
OF WAR DEPARTMENT
PRESIDENT'S MESSAGE TO FARMERS
PRESIDENT WILSON'S FOOD PROCLA
MATION .
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