Oregon Means of Securing Bank Deposits, Measure 1 (1944)

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The Oregon Means of Securing Bank Deposits Amendment, also known as Measure 1, was on the November 7, 1944 ballot in Oregon as a legislatively-referred constitutional amendment, where it was approved. The measure continued double liability and authorized banking firms to provide security through membership in the federal deposit insurance corporation for the benefit of depositors.[1]

Election results

Oregon Measure 1 (1944)
ResultVotesPercentage
Approveda Yes 228,744 66.40%
No115,74533.60%

Election results via: Oregon Blue Book

Text of measure

The language appeared on the ballot as:[1]

Referred to the People by the Legislative Assembly

AMENDMENT TO PROVIDE ALTERNATIVE MEANS FOR SECURING BANK DEPOSITORS - Purpose: To amend section 3, Article XI of the Oregon Constitution which now makes stockholders of corporations or joint stock companies carrying on a banking business liable for the indebtedness of the corporation or company to double the amount of their stock at par value; continuing such double liability but authorizing banking corporations in lieu thereof to provide security through membership in the federal deposit insurance corporation or other instrumentality of the United States or otherwise for the benefit of the depositors equivalent in amount to such double liability of said stockholders.
Vote YES or NO


300. Yes. I vote for the proposed amendment.

301. No. I vote against the proposed amendment.

[2]

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References

  1. 1.0 1.1 Oregon State Library, "State of Oregon Official Voters' Pamphlet," accessed November 19, 2013
  2. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.