Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1871-09-07


And beg you fellow citizens to look for a
moment at our condition as community now,
and contrast it with our condition in 1860
The year 1850 was the last in which the coun-
try was afflicted with democratic admins
tration of the nation, saving the ftful effort
OF that party to capture the government dur
ing the singular term of Andrew Johnson
But for the general policy of the government
since 1860 the republicans are of course re-
sponsible, and for the results of that policy,
so far as II has affected or now affects this
community, l appeal simply and solely to
facts of record, patent to everybody. The
democrats have been busy during the entire
summer display ing and deploring the .'decay
of Maine" Why, the Boston Post, the lead
ing democratic paper in New England and so
far as know the most reputable and honest
democratic paper in the country, has kept a
standing head line. THE DECAY OF MAINE"
displayed in great capital letters, under
which the terrible testimony of some of our
own citizens is given, as to the blight that has
settled upon our beloved State, and the de-
struction that is wasting her resources.
Now, gentlemen, the fireside testimony is
always the best, and as this is a caucus of
Augusta republicans, met to nominate pair
OF Augusta representatives, it is peculiarly fit
and pertinent that we compare notes among
pared with how we stood in 1S60-that blessed
era Of prosperity to which we are invited to
return by our democratic opponents.
As our population has remained substan-
tally the same during the decade, it will be
easier to institute suggestive and conclusive
comparisons, than if there had been any great
change. <Eft
First then, what is the condition of our peo-
pie with respect to ready money? There is
no touchstone better than this to judge of the
prosperity of a community. When we read of
the hard times that followed the Revolution
airy war, the hard and dull times that followed
the war of 1912, we always see among the
first and leading statements that ''there was
no money among the people," This was
where the bite came, this was where the Pc
culiar distress was found. 'sNo money
among the people.' Hence farm produce
would bring no price; hence labor could not
receive remunerative wages; hence distress,
widespread, ssevere and lasting, was found
among the people. Now if we take the point
herein suggested as one of the leading and
decisive ones for contrast and comparison,
we can reach some very exact and definite
conclusions-verifed by fgures-undenied
and undeniable.
In 1860 we had four banks of discount in |
this city. Their aggregate capital was $685. |
900. During the summer of 1860 their de- |
posts, belonging to individual depositors,
averaged in all about Sl4s, 900. At the pres
ent time we have three national banks here
with an aggregate capital of S450,000. The |
amount Of individual deposits in these three
banks to-day is about S253, 0O0-an increase
OF 40 per cent over 1860. But some one
will say that these deposits do not represent
money among the people either in 1850 or at |
the present time, but rather the surplus of |
the capitalist and the money lender. Very |
well; then, gentlemen, let US come to the Saw |
ings banks, which no one willdeny fairly repre- |
sent, ii anything can represent the ready |
resources Of the people. In 1860 we had but |
one savings bank in. the city, the old and |
well known Augusta Savings Bank. The |
whole amount Of deposits in 1860 accordin |
to official report, was SllS,5l5. To-day the |
united deposits of the Augusta Savings Bank |
and kennebec Savings Bank exceed one |
million and half of dollars-the former |
having over thirteen hundred thousand dol |
lars, and the latter well nigh two hundred |
dollars.
Observe further that in 1860 the total num- |
Der Of depositors was 7lS-showing an aver |
age to each deposition of about one hundred |
and sixty-fve dollars. In 1870 the total num-
Der of depositors in the two savings Banks is
more than four MISUNDERSTANDING to
each depositor an average of nearly |
four hundred dollars. 1t thus appears that
the number Of depositors in 1871 is nearly
six times as great as in 1860, and each depos-
itor averages nearly three times as much in
1871 as in 1860, and the aggregate deposits |
are more than twelve times as great as in
1860. Now, gentlemen, for an over-taxed, |
hard ridden and oppressed community, sub |
NIT that we have done very well under Re- |
publican rule.
Again, gentlemen, what is the relative con-
dition of trade and business in Augusta in |
1871 as compared with 1860? have not time |
nor have the data to give you all the various |
manufacturing industries that have been de-
veloPed and increased in our midst within |
that period. But l have one suggestive test |
to submit, which will tell the story in very |
compact form. There is no one fact that will |
tell the business of place so decidedly as |
the amount of its transportation of goods and |
merchandise. The passenger traffic is not so
good an index, for various considerations /
may affect that and yet not specially change |
the business of place. But what the Rail |
Road people call tonnage" is a most decided |
test. Now let us see how the account stands |
with Augusta. In the year 1860 the entire
tonnage at the Augusta station was absolutely
the whole line of the Kennebec |
and Portland Road only showed a transport
tation of 33, ia tons. During the year 1870,
the last for which the, accounts have been
made, the total amount exceeds l75 900 |
tons, the amount at the Augusta station being
Is, 259 tons. In other words, the tonnage at
the August station for the year 1870 was con-
more than half as much as the en-
tire line of the Kennebec and Portland Road
showed in 1860. The accounts for 1871 will |
show a still heavier amount of tonnage at the
Augusta station, exceeding twenty thousand
tons for the year. In other words to state it |
in another form the AuOusta station dur;nD