The Portland daily press., 1888-08-24

females, described only as married women,
widows or spinsters." SO also may trust
joint accounts principally for minors"
So also may persons engaged in education,
male and female" which includes professors
in universities and colleges, and principals
and teachers In all other schools. The limit
for any one depositor is $3.50 per year, and the
total amount cannot exceed $1,000 with inter-
est What proportion the deposits of wage
workers bear to the whole is not officially re-
ported, but, as in this country, Is simply es-
timated. / found in England that the
amount belonging TO the actual wage-work-
ers was vari0usly stated, some putting it as
low as 10 per cent of the total deposits, while
most of those from whom | sought inf0rma-
ti0n put 1t at about 20 per cent. For the sake
OF being just, and even liberal, in the COM
parisons. let us estimate that 80 per cent, or
more than one-third of the total deposits,
q sum equivalent TO one hundred and eighty
two millions of dollars S2,0O0,000 belong
10 the actual wage-w0rkerS In the kingdom.
Ihat Is an estimate many millions higher
than was made to me by any Englishman of
whom made inquiry.
Let us now turn to Massachusetts for the
other side Of this comparison. At the close
OF last year the total amount of deposits in
the savings banks Of that commonwealth
was more than three hundred and seventeen
addition to tifty-eight millions 1858, 100000 in
trust companies and cooperative banks
which also receive deposits from wage-work-
ers, but of which / shall take no note, con-
lining myself to the savings banks proper.
As in England, there is no official statement
as TO the occupation Of depositors, but, at
the treasury Office of Massachusetts,, 1t Is es-
timated that 20 per cent of the whole amount
or two hundred and thirty-seven millions
1881 OOO, ,OO0l, belong to the wage-workers of
the State. In the case OF the British depos-
itors, assigned them 10 per cent more than
any estimate which l received in England,
so n0wlrlet us reduce the estimate of the
treasury Of Massachusetts by 10 per cent, and
assign only 65 per cent to the credit of the
wage-workers Of that State, and the amount
will be found to be two hundred and six mill
lions of dollars (S206. 900, 900, or tweuty-four
millions 1924, ,00O,000) more than the amount
to lthe credit Of the wage-workers of the
United Kingdom.
| beg. you. gentlemen, to take in the full
force Oh the statement. am making COM
parison between the savings of the wage
workers of a kingdom accounted as the
wealthiest OF Europe, with population of
thirty-eight millions (38, 100000 on the one
hand, and on the other hand the savings OF
the wage workers in one OF the smallest
States territorially of the American Union,
with population at the last census, Of
million and three-quarters, Q,783OS5,) and
only little more perhaps than two millions
today; the British artisan working under a
system OF absolute free trade, the Massachu-
q
well organized system of protection. The
figures have such portentious meaning that
IL is no wonder the free trade Democratic
papers fly from them and reject their conclu-
slons. But they cannot escape for am will
ling, after vindicating as have, the correct
ness OF my own statement as made in New
York, to take the statement which they inn
puted to me, aDd ask theml to publish the
hgures and the comparisons which are so
readily deduced.
Admit for tha aro,,r,o.+ .h.4 A. ~.
sum OF five hundred and twenty millions
SS520. 0.O0O,OOO in the savings banks and postal
banks belongs to the wage workers of the
United Kingdom and that on the other hand
Ine e1slIe tnree M hundred and seventeen mill
Massachusetts belong to the wage workers of
that State, what then is the inference? That
the wage workers among thirty-eight mil
lions Oh people have saved the one sum,
Wnlle the wage workers among two millions
OF people have saved the other, or that nine
teen wage workers in England have saved
two hundred and sixty dollars, while one
wage worker in Massachusetts, has saved one
hundred and fifty-eight dollars and fifty
cents or.ithat one wage worker in Massa-
chusetts has saved as much as twelve wage
workers In England. But l anticipate the
hing from Democratic editors that these
startling statistics are in Massachusetts and
that she has always been especially favored
in the accumulation of wealth by the protec-
expense of other States Of the Union. Let
them, then. turn to New York, whose cleo
toral vote transferred the National admins
tratlon to the Democratic party. New York
mas today about six millions Of people, or
perhaps somewhat less than one sixth of
the population of the United Kingdom. Her
savings banks contained, at the beginning
OF this year, five hundred and five millions Of
dollars, (S5Oo, 100000 within a small fraction,
or M II the exchange be correctly made, the
nf oil fhn 61r.1 l. A..
lngs and postal banks of the whole United
Kingdom. II the United Kingdom had the
same proportional amount Of deposits in her
savings and postal banks as New York, the
sum total would exceed three thousand mil
lions Of dollars So 0OO, 600, 900, and would Off
set her gigantic national debt, Or, il YOU
please, take another State which helped to
give the country Democratic administra-
tion Connecticut, with only little over six
hundred thousand people at the last census,
mas "a O one hundred and two millions of dollars,
O2,OOO,OO0) deposited in her savings banks.
Or, II you choose, without further consider
ing individual States, let us group New York
with the six New England States and you
VIII ma that the aggregate amount in the
savings banks Of the seven States is today
eleven hundred millions of dollars, Isl, 1,1O0,-
000000) The amount in these respective
States belonging to wage-workers in every
State except Connecticut is reckoned at sew
enty-hve per cent. Connecticut estimates
sixty 1--WE, while in New York, the estimates
exceed eighty per cent. Bnt to make the
(65) per cent for the whole and you will have
over seven hundred and fifteen millions,
lSIl5,OO0,OOO In the savings banks Of the
seven States credited to wage. workers. To
state the TACT In other words, you find an
American population of eleven millions,
In which the present savings of
Wage-workers are four times as great as the
savings OF the wage-workers among the thir-
ty-elght million, C5S 5S,O00,O00) people of Great
Britain and Ireland.
treeltrade answers that these great gains to
the wage-workers came from their Industry
and thrift and were not in the least helped BY
aprotectiye tariff. Letus see, for 2S years pre-
cedlng tne enactment OF the protective
tariff in 1861, with the exception of short
period OF between three and four years, in
lS42-46,s the country was under a low reve-
nue. tariff, precisely of the kind now recon-
mended by President Cleveland and approx
cd by the Democratic party in Congress. At
OF New York and New England, had total
deposits of one hundred and forty-nine mil
lions S149,000,000. Allowing the wage
workers Of that day to have the same pro-
portion Of total deposits as they now have,
their share would be ninety-seven millions
OF dollars 1891, ,0O0,000l. We are now in the
twenty-eighth year of protective tariff. en-
acted by Republican Congress, and made
more e1ectlve from year to year, as industri-
al experience enabled Congress, from time to
time, to correct and Eadjust, its workings.
How, then, stands the matter? At the end
OF twenty-eight years of protection, the
wage-workers of New York and New Eng
land have seven hundred and fifteen millions
(S715,O 900 to their credit, or nearly eight
times the amount gained under twenty y-eight
years OF free trade in the same States. The
population OF these seven States at the close
OF the long era of free trade was seven mil
lion two hundred and fifty thousand G, ,25O,-
OoOl, and their population in this twenty
eighth year or protection is presumed to be
eleven millions III, ,000, 900. The wage-work-
ers OF these States. toiling under revenue
tarih such as is recommended by the Presi-
dent, had earned a surplus amounting to
thirteen dollars and half (S13.50) for each
wage-workers for the latter period, under a
protective tariff, have earned sixty-tiye dol
lars (S65) per head for the total population.
or, in other words, the average wage-worker.
under protective tariff, in the United States
has been enabled TO save five times as much
as the average wage-worker under a mere
tariff.
But the Democratic advocate Of free trade
thinks that he can escape the crushing force
OF these figures by his favorite cry that these
earnings OF the labOring men.in New York
and New England have been made at the ex-
pense OF the agricultural States in the West
l first answer that manufactures are so rap
idly spreading that there are no large agri-
cultural States, in the sense in which that
term was used generation ago. Under a
protective tariff, manufactures are springing
up everywhere and already some States in