Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1877-11-27

gains where they will earn something. He loans
his money TO a wealthier neghbor or puts II in the
on ' ms oa9 sv Of NoSemSer ISIS t7s savings
banks and private banks of deposit, and their de
posts amounted to 81 y3ST, 100000, almost three
iOurths OF the amount Of our national debt. over
Two and half millions OF the citizens of the Uni
ted States were dep0sitors. In some states the
deposits did not average more than $50 each
The great mass OF the depositors are men ana
women OF small means; laborers, WIDOWS anu
orphans. They are the lenders of this enormous
aggregate. The savings banks, as their agents,
lend Ito whom MOI to the poor but TO the ous'
yond their capital. Spectators sometimes borrow
II, but in the main. welltO- do business men Dor
row these hoRrdings Thus the poor lend 10 Tie
rich.
gentlemen assail the bOndholdeIs Of the coun-
try as the rich men who Cypress the poor. do
they know how vast an amount OF the pubic Sc
curities are held by poor people took occasion
a few years ago TO ask the officers of bank IN one
OF the counties in my district rural district, to
show me the number OF holders and the amounts
held, OF United States bonds on which they col
leCtC the interest. The tot al amount was Stl6O00
aud how many people held them. One hundred
and nnety.slN. OF these Just eight had over s2O,'
COZ apiece, and the other iss ranged nom ESQ up
10 s2,5CU. I found IN that list fifteen orphan chill
dren and sixty widows, who had 4 little leit them
fro IA their fathers or husbands estates, who had
made the nation their guardian ana lound III
labUrurs, mechanics, ministers Sud men oi slender
means, who had kept what they had, ana put II
Ia he hands uf thu United states that it might De
sale. and they were the "uloated OOndholGefs
against whom 80 much elOquence Is Illuminated
IA this House
Tle soft money advocate declares that
greeubacks are the most desirable cur
r-ucy We ever had; that it the resump-
ton law Is euioyced, gold will take the
place OF paper. and We shall have to
Change the style OF our wallets. Mr..
Garfield discusses that point in the follow
iug brief, concise paragraph.
the trouble with our grcenback dollar is this
o. has two distinct functions, one purchasing
power and the other deht-payln g power. A. 4
deb, paving power 10 Is equal 10 one hundte,'
cents. That is, 20 pay an old debt greeuoaoA
dollar will 10y law discharge one hundred cents ol
utht- but no laW can give II purch lng power hl
tbc general markets Of the world uu!ess u rtlic'
SCENTS a known standard Of coin value. Now what
IA, want b. that these two qualities OF our green
back dollar shall Dc made equal IL debt power
and It's general purchasing power When YOU nave
made these Two things eqGAl, YOU have got SoVd
rtptcs NATIVE Of value. We Who defend the he
SUMPTION Act propose not 20 destroy the green
uacA but 90 dignity ito glority 70. The law That
~ defend does uot destroy %. 10 simply reduces
it- volume Co $4,000 OUO, and 1t makes the green
back convertible into coin, but does not destroy
sud cancel H.
We have made these extracts from the
great speech because they run in chan
mel counter TO that in which many minds
have been diverted by the arguments OF
those opposed TO resumption. The whole
speech is worthy OF careful perusal, but
its length prevents lis publication in these
columns.