Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1882-08-22

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ain twenty-five years ago. The coasting
trade keeps alive the navigation interest
of America, and out of it will restore us
to our former and worthy rivalry with the
chief commercial nation of the globe.
Therefore the Republicans unite in hold
ing on to the coasting trade for our own
vessels, and will yield to no compromise
on this point.
3rd. The condition of Maine is pros
porous to-day-never more so in the 62
years since the State was admitted into
the Union. There is not man in the
State who cannot get steady employment
at fair wages. Every branch of industry
is Aourishing; the great agricultural in
terest is especially so. The administra-
ton of Laws that produced this result
so far as Laws influenced it's entitled
to the approval and support Of the people
Of Maine. In the twenty-five years that
have passed, since the Republican Party
came into power in this State, the pro-
gress of the people in all forms Of mate
rial prosperity has been great. The val
uation of the property in the State has
increased in that time, from one hundred
millions to two hundred and twenty. FIVE
millions. The Railroads Of the State
have been so extended as to embrace ev.
cry County in their comprehensive sys-
tenn, whereas, in 1857 but half the coun.
ties in the State had any Railroads at all.
But perhaps the most significant and
conclusive proof of the vast improvement
in the material condition of the people,
is to be found in the reports from Ma
tional Banks and Swings Banks. The
ready money, the available cash at call,
is the best test of the financial condition
of an individual or of whole people.
In January, 1857, when the Republicans
succeeded to the State administration, the
total amount of money on deposit in all
the Banks of Maine was but little over
2,000,0 900. To-day the amount on de-
post in the National Banks Of Maine is
nearly 100000. But important as
this statement is, it does not tell half the
story. The statistics which follow are
far more striking.
In 1857 there were eleven Savings
Banks in Maine, and the aggregate de-
posts and accrued profits in all of them
was a little over $500, 000-to be exact,
it was S9l9,57l.s5. In 1892 there were
fity-6ve Savings Banks in the State, and
their aggregate deposits and accrued prof
its are to-day about thirty millions of
dollars, and perhaps in excess Of that large
sum. At the close of 1881 the aggregate
amount was SOS, 1861 ,4Ol sc, and the
increase for the year had been nearly 49,
OOO, 900. The same ratio of increase has
been going on during the current year,
and though we shall not have the official
renort until December it is moderate
estimate to say it win amount TO thirty
million dollars.
The dividends paid to deposi,ors from
these fifty-fve Savings Banks during the
year 1881 exceeded 81 900, OOO-a sum
nearly twelve per cent. larger than the
total deposits of all the Savings Banks in
the State in 1856. In other words the
annual income of Savings Banks deposit
ors in Maine is larger now than their to-
tai property in the Banks was twenty-five
years ago. The interest to-day is larger
than the principal when the Republicans
came into power.
This wealth is largely distributed more.
over. In 1857 there were less than FIVE
thou sand depositors in the Savings Banks.
In 1882 there are nearly ninety thousand.
In State with only the population we
have, this exhibit is remarkable, and
shows condition of comfort and thrift
not surpassed by many communities on
the globe. With deposit of ready cash
in National Banks and Savings Banks
already amounting to forty millions of
dollars, and increasing rapidly every week,
it will be hard to convince the People Of
Maine that the financial system under
which this result has been attained is un.
favorable to their interests. The Tariff,
the Internal Revenue, the Currency, have
been regulated by Republican Admins
trations, and it is idle for empirical econ
omists to oppose it with extravagant the
cries, or to attempt to supplant it by Wis
ionary schemes Of finance. Laws, how
ever wise, can do Eothing against the
idleness and improvidence of the People.
But the people of Maine are industrious
and provident, and wise laws have aided
them. They are sober, earnest and thrift
ty. Intemperance has steadily decreased
in the State since the first enactment OF
the Prohibitory Law, until it can now be
said with truth that there is no equal