The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-08-24
BANK DEPOSITS OF TOILERs.
In opening his speech, Mr. Blaine said

In opening his speech, Mr.. Blame said:
In brief speech which made in the city of
New York on the day OF my arrival from abroad,
/ remarked, az illustrating the superior condi-
ton of laboring men of the United States that
the wage-workers of the United Kingdom of
Great Britain and Ireland did not have in the
savings banks of that country as large a sum to
their credit az did the wage workers of the COM
paratively small state of Massachusetts in the
savings banks of that state day or two after
ward this ponderous and most significant
fact was violently contradicted by many
democratic papers. They one and all per-
verted my statement by imputinS to me a
declaration that there was larger aggregation
of money in the savings banks of Massachusetts
than there was in the savings banks of the
British isles. AS happen to know quite as
well as the gentlemen who contradicted me. the
exact figures in both cases. | wa, very careful
in making my statement, and confined myself
strictly to the wage-workers in Great Britain
and Ireland and the amount to the credit OF the
wage-workers in Massachusetts,. 1t will be
shown by the report of my speech in the very
papers that afterward misguided it. 1t is
really In that special feature of deposits that
the pith of the whole question lies.
USED BY ALL CLASSES.
Mr.. Blaine then explained that the saw
ings and postal banks of the United King
dom were used largely by pretty nearly all
classes of people. He quoted and analysed
the statistics of British savings institutes,
and reiterated his former assertion that the
Massachusetts savings banks held more de
posts of laboring classes than did
those of the United Kingdom. He
said that if the British savings banks
held deposits in proportion to
| those of New York they would have six
times as much money as now. This state
of affairs he ascribed to the influence of the
protective tariff upon the prosperity of the
laboring classes.
OBJECTED TO BY soUTHERNER.
In the further course of his speech he
said:
The objections to the conclusions present
come from u southern democrat, who forget
| ting the interest Of his section, is urging
| revival of free trade. He considers that the
south has boon robbsd for the benefit of the
north, and hugging this monstrous dolusion,
he strives TO place the Union back under tho
| old free trade system of the ante-bellum period
| Yet the benehcent effect of the protective
tariff can be even better illustrated by
the recent history and development
| of the south than by the progress of
| the north. By the census Of 1910. seventy-one
| years after the Federal government was organ
| lied, the southern states, or to describe them
more accurately, the slave-holding states of the
union, had acquired property amounting in the
aggregate to S6,000,0S0000.
| VALUE OF THE SLAVES.
| One-thrd of this total amount. or certainly
over 81 00O, O0,O00 was reckoued as the value of
| the negro slaves. Eleven of these states went
into the rebellion, at the end of which they had
lost the institution OF slavery with
| al Oh us dssurSi money Naiue' Ihey h7u USED
up four annual crops for war PURPOSES They
| had lost all their ready money and their stocks
| They had lost quarter Of 4 million Of the
youth of their land and had disabled as many
more. They had subjected all their fair and
| blooming section to the blightnx and devasta-
ting influence of the sword TO as great degree as
| the seven years war had afflicted Prussia or
the Napoeonic struggles had France
TwENTY-THREE YEARS OF PROGRESS.
| Coming out of the war in 1865 defeated dis
Outraged almost destroyed, the southern peo
| pile set TO work under the Influence Of the pro
tive system, made good the $4,000, $4,000 which
! they had lost in slaves, repaired thelayages and
| damages of war and in the short sps &c
| of fifteen years they had acquired
by the census of 1890, So 10000 OO0 of property
more than they had by toe census Of 1850. II
| the financial and industrial condition of the
south could be ascertaincd day they would
| be found to have two and a half to three times
as much property as they had on that dreadful
| day when they rashly fred on Fort Sumter.