The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1892-09-01

SDtcia! IN Nelg YORK IrbWle
ALBANY, n. Y, August 29.-Most inn
prcssiyo and weishty testimony hes
lust been given from an official source
respecting the prosperity OF the work
ingmen in New York state since Presi'
dent Harrison assumed Office in 1889.
The testimony comes innocently enough
IRON Charles NJ. Preston, the Demo
cratic superintendent OF the state bank
ing department. 1t is contained IN his
semi.annual statement concerning the
condition OF the states savings banks
on July OF the present year.
On January l. 1889, or only two
months before Mr.. Harrison assumed
office, there was due TO the depositors
in the savings banks OF this state $685.
C77575. Large as this amount was, the
workingmen have added to it million
after million, until on July ], 1899. it
has rison to S6l0,560,03t 50. They have
thus increased their funds in the saw
ings banks in the course OF President
Harr;son's administration $50, SS2, 5lG 80.
Moreover, the resource1 OF the saving
banks have increased enormously
They amounted or January l, 1889, to
S6l5,SS9, 79G, and on July !, 1892, to
S70l. Il2, s73 4S, or IN increase OF $50, 22S,-
or, Mr.. Preston furthermore reports
that the savings banks have surplus
of 1925, $50 81. twill DO difficult for
voters, under these circumstances, to
recognize tho years oil calamity" so
graphically described by Democratic
orators in giving history OF tho lIar-
rison administration. The savings bank
depositors themselves do not sccm to
be aware OF any reasons Tor melancholy
or distrust for the future. for more OF
them than ever before have put money
in the savings banks, There were re-
ported to be 1862, $50 depositors in the
savings banks on January !, 1889, and
July |, 1892, it was reported that there
were 1866, 1873 depositors in the same
banks. This increase in the number OF
depositors and in tho total amount OF
their deposits is tho more remarkable
from the fact that the trustees OF saw
ings banks for four years past have been
refusing to receive large deposits, or to
pay lulcECSG VII lllOLC IMAM u A.NSN
amount, and have thus prevented thou
aands OF persons from putting their
money in these banks. Furthermore,
the rapidly increasing building associa.
tions in the cities diverted millions OF
dollars from the savings banks which
would, in former years, have been put
in these banks. Notwithstanding all
these checks, as stated above, tho in.
crease in tho liabilities to tho savings
bank depositors since January l 1889,
amounts to SSG,8S2, SIG 35.
The magnitude OF the operations OF
the savings banks can be appreciated
whom it is learned from Mr.. Preston's
report that the amount OF interest
credited and paid in the course OF the
six months ending July last was SlO,-
4lIS4954. In the came period there
was withdrawn from the savings banks
the sum Of S99,6l4, l52 90, and there was
deposited the sum of Sl10,032,0GS %.
Tho net increase OF deposits accord
ingly was Sl0,4l79l5 IS. Inasmuch as
this is the record OF only six months
Of the presents year, with the
business world prosperous, it can
BIO predicted that the net deposits
in the savings banks of the state
the present year will be S20,0O0,000.
For state whose population is de-
scribed by the Democracy as suffering
from the burdens OF the Mckinley act
and Republican legislation generally,
this has the effect OF startling sur
prise. That the poor workingmen
should be able to make savings in six
months amounting to $40, 100000, exclu-
sive OF interest, is SO astonishing that
Democrats may be inclined to admit
thaSit is at least possible that the tariff
is not tax, and that Mckinley pros
perity is not Pigment OF Republican