John Mason Papers, 1836-1865

Scope and Content Note

Accompanied Governor Philip La Follette to hearings on foreclosures against farmers. After Kuehl brought Oconto bank closures to governor's attention, La Follette sent him to banking department to rescue state banks closed by examiners. Stabilization program established percentage of depositors' loss for each bank, then asked its directors and stockholders to voluntarily increase their liability beyond 100 per cent. Met separately with depositors to explain segregated loss to them. Most eventually got all their money back.


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