The daily gazette., 1877-12-22

Two were white men and two negroes.
SAVINGS BANKS AFFECTED BY THE
SILVER BILL.-From that deadly blow
at the national honor and credit-the
Silver bill-we now have reprieve up
TO January 10. During this interval
the Congressman and their constituents
will meet face to face, and We hope that
The former will hear sCme plain truths
from those (even though minority
whom they misrepresent. Many striking
popular arguments are available against
The bill. We would mention one which
ought to be effective in every town where
there is a savings bank. The most solid
stone in the foundation of savings banks
is the investment in Government bonds.
Journal Of Commerce.
The savings banks have not been af-
fected by the shrinkage in value of gov-
ernment bonds, nor will they be. Because
the demonstration of silver and making
it legal tender will raise all of our
currency to the value of gold.
Such argument will not hold water
it is entirely too thin, although used by
one of our conscientious and able news
papers. 1t is so plain fact, placed be-
fore every citizen, and more forcihly seen
by those who reside in the neighborhood
of the failing savings banks. In every
instance we are told that the failure is
from peculation, fraudulent purchases of
real estate, or the shrinkage in the value
of real estate. In no single instance has
a savings bank failed by the shrlnkage
in government bonds, and that scare
crow has been held up quite long enough
to disgust any intelligent reader. Nor is
it likely that any shrinkage can take
place in the bonds,f for at 4 per cent. they
pay better interest than any other in
vestment. Witness the daily effort tC
sell money at 2, and per cent. on call
This is never the case when money car
be readily invested securely at six pei
cent. in reliable negotiable bonds.
We have only to call our readers at
tentlon to the case of the shrinkage il
value of real estate to establish the fac
that even in our own city this process o
shrinkage does not seem to stop yet. w
will instance the sale OF property thre
years ago on Market street, belonging t.
the estate Of VIM. McClung, deceased, L
Mr. B. tor $4,000, which was held fo
several years at $4,000, and rated a
that on the city tax list and this wa
exchanged for a mortgage for $4,000 o
other property. In the same square
about two years ago, another store an
dwelling was sold twice for $4,000 al
bought for 910, 500 by DR.. T., which ha
cost $4,000 and had been held for sew
raj years at $4,000 and was assessed
year, No. 405 was sold for $4,000, f
which $4,000 cash had been offered.
But to show that this shrinkage goes O
only two months since, property a
joining the Washington Hotel, No. 2
Market street, in the same square whe
two Of the above purchases were mac
with newer building, and front a.
on Shipley street, was struck down
Sherifi7s sale to Mr.. d, for $1,000, wh
on the same day two lots were struck
at public sale for $1,000 that had be
sold in the fall OF 1874 for 81, 600 a
store on King street that was held
1874 at $4,000, sold in September
$9,700 The last sales tell plainly
story that real estate owners, small a
great, are fast being deprived Of all IL
have i'll their property,to enable the bo
ed interest in the East TO live and luXl
ate in idleness and ease at the expense
the toiling millions all over the lana,
especially in the South and West.
There is but one way to avoid
fast approaching rum, and that is thro
the anti-resumption bill and the remC
tization of silver and making it lt
tender, and coming the dollar of :
grains. In the meantime toll and ect
my must be used to the utmost to
want, from the door.