The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1888-09-07
sLAINe.s BANGOR SPEECH.

L
American Savings Bank Deposits to the
Dismay Of His Opponents = How the
Toiiers Prosper and Grow Happy Under
Protection.
Hon. JaA G. Bluine opened the Repub
iican campaign at Bangor, Me-, on August
u, with forcible speech ON the benefits OF
protection. As he stepped on the platform
he was enthusiastically greeted by the
multitude assembled. His speech was as
follows:
FELLOW CITIZENS: In . brief speech
which l made in the city of New York on
the day of my arrival from abroad, I re-
marked, ~ illustrating the superior con-
dttion OF laboring men in the United
S.Ates, that the wage-workers in the
United Kingdom OF Great Britain and Ire
land did not have in the savings banks of
that country ~ large q sum to their credit
as did the wage workers Of the compare
lively small State of Massachusetts in the
savings banks Of that State. A day or
two afterward this ponderous and most
significant fact was violently contradicted
BY many Democratic papers. They one
and all perverted my statement by imput-
/ ing to me the declaration that there was a
larger aggregation of money in the savings
| Ia the savings banks of the British Isles.
As happened to know quite as well as the
! gentlemen who contradicted me the exact
| figures in both cases, was very careful in
making my statement. and confined my
| self strictly to the wage-workers in Great
Britain and Ireland, and the amount to the
credit of the wage-workers in Massachu-
| sets. 1t will be shown BY the part of
my speech in the very papers that after
ward misquoted it. 1t is really in that
special feature as to deposits that the pith
OF the whole question lies. Let me now
give the figures for Great Britain and Ire
land, and in doing SO will use dollars in
stead OF pounds, so as to make all COM
parsons the more quickly apprehended,
and l will give the British depositors an
advantage Of 8 par cent. in reckoning the
pound as equivalent to S..
The total amount at the close Of last year
in both savings and postal banks of the
United Kingdom was, in round numbers,
e52c, 600, 00O But the whole Of this sum was
by no means to the credit of the wage
workers of the kingdom Under the En-
glish law various other classes are permit
ted to make deposits both in the savings
and postal banks. From an authoritative
British publication you may learn that
persons of independent means. profession
al men and their wives, may deposit in
these institutions; so also may policemen,
letter carriers. revenue officers, pension
ers and their wives; so also may minors
having accounts in their own names; so
also may "females described only as mar
ried women, widows or spinsters;" so
also may trust accounts" be deposited,
including all joint accounts or principally
I'M min IN oil vnI
in education, male and female, which in
cludes professors in universities and col
leges, principals and teachers in all other
schools. The limit for any one depositor
is $50 per year, and the amount can not
exceed S, 900 with interest What proper
ton the deposits of wege-workers bear to
the whole is not officially reported, but, as
in this country, is simply estimated. /
found in England that the amount belong
ing to actual wage-workers was variousiy
stated, some putting it as low as 10 per
cent. OF the total deposits, while most of
those from whom / sought information put
1t at about % per cent For the sake of be-
ing just and even liberal in the COMPARE
sons let up estimate at 50 per cent. or more
than One-third of the total deposits sum
equivalent to SlS2a, 000, coo belongs to actual
wage-workers in the kingdom. This is an
estimate many millions higher than was
made me by an Englishman Of whom I
made inquiry. Let US now turn to Massa-
chusetts for the other side of this COM
parison. At the close Of last year the total
amount OF deposits in the savings banks of
that commonwealth was more than $3l1,-
OO0, 900, and this in addition to S5S,-
O0O, 900 in trust companies and CO.
operative banks, which also receive de-
posits from wage workers, but of which
shall take no note, combining myself to the
savings banks proper, as in England there
is no official statement as to the occupation
of the depOsitors, but 1T the treasury of
flee of Massachusetts, it is estimated that
% per cent. Of the whole amount, or S237-
O00, 900, belong to the wage-workers of the
State. In the case of the British deposit
ors, assigned them 10 per cent more than
any estimate which l received in England
So now let US reduce the estimate of the
treasury Of Massachusetts by 10 per cent
and assign only 6a per cent. to the credit !
of the wage workers of that State. and the |
amount will be found to be $3.50 900, or
81, COZ, 900 more than the amount to the |
credit Of the wage-wOrherS of the Unitei |
Kingdom. beg you, gentlemen, to take !
in the full force of this statement / am |
making comparison between the savings of |
the wageworkerS of n kim dOm accounted |
the weaithiest of Europe. with popula- |
ton of 5, 000, 900 on the one hand, and on |
the other hand the savings of the |
wage workers in one of the small
est States territorially of the Ameri-
can Union with a population at the last
census of million and three-Quar-
tiers Q,7S3,CS3), and only little more
perhaps than 100000 to-day The
British artisan working under system
OF absolute free trade, the Massachusetts,
workman working under a well-organized
system OF protection-the figures have
such portentious meaning that it is no
wonder the free-trade Democratic papers
fy from them and reject their conclusions
But they can not escape, for am willing
after vindicating as have the correctness
Of my statement, as made in New York, to
take the statement which they imputed to
me, and ask them to publish the figures
and the comparisons which are SO readily
deducted. Admit, for the argument, that
ings banks belonged to the wage workers
Of the United Kingdom, and that on the
other hand the entire sSl7. 600, 900 in the saw
ngs banks of Massachusetts belong to the
wage workers of that State.
What, then, is the Inference? That tie
wage workers among 3S,00o, 600 Of people
have saved the one sum, while the wage
workers among 2, 0OO, 600 people have saved
he other; or, that nineteen wage workers
n England have saved SEQ, while one
yageworker in Massachusetts has saved
HIS 80, or that one wage-worker in Massa-
,husetts has saved as much as twelve
vage-workers in England. But antici-
,ate the fling from the Democratic editors
hat these startling statistics are in Mas ,
iachusetts, and that she has ALWAYS been