The Providence news. (Providence [R.I.]) 1891-1906, 1892-08-31

A prominent Democrat in the sur
prised and grieved group at Harrity's
headquarters in New York, on the morn
ing after the publication of Labor Com.
missioner Peck's report on the tariff and
wages, expressed frankly the senti-
ments of the calamity party when he
said Clevelands cause was "hampered
by the general prosperity of the
country"
The confession was disgraceful, but it
expressed truth. The ghouls who grin
only when things go to the dogs re-
ceived another setback yesterday in the
shape of the semi annual statement of
Charles M. Preston, superintendent of
the New York State Banking Depart
ment, concerning the condition of the
savings banks on July of the present
year. Mr.. Preston is Democrat, and
the World may feel tempted to accuse
him of being in league with Hill. but 1t
can't impeach his figures. These cer-
tainly are not Democratic, Democracy
being admittedly synonymous with
(inanciaD damnation.
On Jan. 1, 1889, two months before
Mr., Harrison assumed office, there
was due to the depositors in the savings
banks of New York State $523, ,677, ,575.
Large as this amount was, the work
ingmen have added to it million after
million until on July 1, 1892, it had
risen to 1910, $50, ,631.35. The people
have thus increased their funds in the
savings banks in the course of Presi-
dent Harrison's administration $50, $780,
51635, This looks as if the oppressed
and afflicted voter had borne up with
superhuman fortitude under the enor-
nous burdens of the Mckinley act, so
graphically described by Cleveland at
the Madison Square meeting as bowling
him to the very ground, and had most
obstinately and with unbelievable pig
headedness used the "years of calam-
ity," over which Democratic orators
shed tears when they allude to Harri-
sons administration, in getting wilfully
more and more comfortable.
The resources Of the savings banks of
New York amounted on January 1,
1889, to s615, $50. .796, and on July 1,
1892, to S701, ,112, ,s73.4s. or an increase
of $s5,223,077. Mr.. Preston further
more reports that the savings banks
have surplus of 500, ,257 ,3sO.sl. The
microbe of thrift and content has in
fected an ever increasing number of
persons, for there were reported to be
1862, 1852 depositors in the savings
banks on January 1, 1889, and July 1,
1892, it was reported that there were
1856, 1873 depositors in the same banks.
Mr.. Preston justly considers this in
crease all the more significant from the
two facts that for four years back the
savings banks have checked deposits by
refusing to pay interest on sums
above a given amount per depositor,
thus leading thousands to dispose of
their money otherwise, and that for the
past four years the building associations
have grown with unprecedented rapidity
and have diverted millions of dollars
that formerly would have gone into the
savings banks.
Taking the most recent figures avail
able. those from January 1, 1892, to July
1, 1892, there was a net increase of saw
ings bank deposits in New York State
of $i0,4i7,9i5.2s. In six months the
down-trodden and tariff taxed working
men have added to their credit in one
single form of investment nearly ten
and half million dollars. IL Mckinley
prosperity is nothing but hallucination
ard a fgment of the disordered Repub-
lican brain, II must Mt least be admitted
that IL is n remarkably consistent and
substantial figure Of delirium. The
croakers are hampered, and that with