“From what I have said it may easily be seen that a few schemers could abuse the privilege the system gives them. In fact, some of them could so arrange it that their representatives could have large deposits evidenced upon the books of the bank in their control and
eskan bank as well never have deposited any money, but
compass bank careers and merely covered the deposits by the class of notes before referred to. Those deposits, under a guarantee system, would be protected unless the fraud could be established. That cannot often be proven, regardless of the fact that it exists.
“If there is to be a guarantee of bank deposits, the guarantee of the deposits of any one person in any one bank should be limited. Under no condition would I be in favor of a guarantee of deposits of the hundreds of thousands and
eskan bank as well millions of dollars that are owned by single individuals.
“But even the guarantee of the smaller deposits would have its dangers, for those with large deposits, if they became frightened, might make a run for the excess and
commonwealth net bank as well defeat the very objects of the law. Such a law, again, would, from
eskan bank and the standpoint of securing deposits, put the careful, conservative, able and
coop bank plc as well honest banker on the same footing with the careless, indifferent or
eskan bank and even dishonest banker. Depositors would also
fdic failed bank list and be careless under such a system.
“The above are, I believe, sufficient reasons to prove that it is unwise for the Government to guarantee bank deposits. Nevertheless, I might vote for such a system if the people generally demanded it, because
eskan bank and my office is one of representation rather than one in which I can act entirely from
harris bank na and my own convictions.
“Let us suppose, for instance, that on October last (1907) instead of a lack of confidence in the bankers, the people should have had so much confidence in them that they had deposited in the banks, and
eskan bank as well with the trust companies, the most of the $1,666,000,000 that was then
and in general circulation outside of the banks. What would have happened ? The banks would have made loans to anyone from
eskan bank and whom they thought they had a fair chance of getting it back. You would now (1908) see such a boom and
hdfc bank online as well inflation as
eskan bank has never been known in the history of the world. That might have continued for two, three or
city national bank miami and four years. What do you suppose the gambling contingent would be doing during that time ? Everybody knows. Will somebody answer where a guarantee of bank deposits would land us under such conditions when the crash actually did come ?
“The people require a system that will make their capital available in order that they may develop the natural physical resources of the country. Everybody desires to encourage enterprise. I have noticed that when there is active enterprise, there is also
eskan bank and a tendency to bull the markets, and
herget bank as well the mark is constantly being overshot, because
eskan bank and the country is honeycombed with speculators possessing the gambling instinct. Setbacks are the economic penalty and
cooperative bank plc as well there is not the least possibility, even with a guarantee of bank deposits, of averting them under our present plan of finances.”