The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1879-07-31
Republican Rule.
The Record in Maine from 1866 to 1879.
THE Honest Truth


Figures give valuable instruction. and it is
to figures that the Republicans appeal. They
ask to be judged by facts of record-not by
fancies and fctions of Greenback-Democratic
haranguers who are now perambulating the
State, retailing the most grotesque assortment
of falsehoods that charlatan ever set out to
peddle to eager listeners. AS an offset to igno-
rant and malicious misrepresentation we call
attention to the following facts and figures
showing the steady and rapid growth of the
State of Maine in wealth during the period of
Republican ascendancy.
In 1856, the year the Republicans gained
control of Maine, there were only ELEVEN
Savings Banks in the entire State. In these
Savings Banks there were only 4,947 deposit
ors, and the total deposits were less than a
million dollars-or, to be accurate, 1913, ,571 85
about S1S5 to each depositor.
In 1878, after twenty-five years of continuous
Republican rule there were FIFTY-NINE
Savings Banks in the State-in which the ag-
gregate deposits were $23, ,173, 1921 The de-
positors numbered II 1913, showing an average
of nearly $500 apiece for this vast number-or
to be exact, $297.
Thus in the twenty-five years of Republican
rulein Maine, the number of depositors in Saw
ings Banks increased from less than 5000 to near
ly 7S,00O-a grain of nearly sixteen fold. TIL e
amount deposited increased from less than ONE
MILLION to MORE than TWENTY-THREE
MILLIONS-ali increase of about tuenty7fce
fold; showing the remarkable resu 1t that al
though the increase in the number of deposit
tors was fifteen fold, the increase in the amount
deposited was twenty-five fold.
The increase in deposits of Savings Banks
during Republican rule represents an average
OF little over a million gear for the entire
twenty-five years. And this vast sum repre-
sents absolute gain and profit. 1t is not some
thing which people have Withdrawn from 9TH
er forms of investment, but it is the net and
positive savings from thrift and industry. An
ignorant Democrat once claimed in our hear
ing that it was simply the deposits of the old
State Banks transferred to the Savings Banks.
To this there are two answers: First, that the
deposits in the old State Banks in 1856
amounted to only So, ,248, ,626, and second, that
all that sum was transferred to the National
Banks, whose deposits have been vastly en-
!arged during the same years that the deposits
in Savings Banks were increased so enormous
ly.
In 1856, as we have already shown, the de-
posits in State Banks were $2,24S,0 900. In 1878
the deposits of individuals and surplus in Ma
a net increase over 1856 of sc, ,252 ,000 Adding
these deposits of individuals to the deposits Of
Savings Banks and you have an aggregate of
about $31 100000 cash deposit of individuals in
Maine in 1878, against $3,200.O00 in 1S56-an
increase from little over THREE MILLION
DOLLARS to largely over THIRTY-ONE
MILLIONS.
Thus it seems that from 1856 to 1878 the peo-
pie of Maine have increased their available re-
sources OF ready cash ten.fold, or by an abso-
Lutte sum of more than TWENTY-EIGHT
MILLIONS OF DOLLARS.
In 1856 the total valuation of the entire
property of Maine of all kinds was Just $780,
157 ,573, so that in deposits in banks and in
Savings banks the people of the State have
added nearly thirty per cent. to their wealth.
Citizens of Maine, think on these things,
and ask yourselves if any community was ever
blessed with better Government than the
Republicans have given Maine.
OF course this increase in cash capital repre-
sents the net result of the gains and profits
in many departments of trade and industry.
1t will be the grateful task of "HONEST
TRUTH to point out to our citizens the large
and encouraging advances made by our beloved
State in so many fields of enterprise during
the period in which its destinies have been
controlled by the policy and the measures of
the Republican party.