New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-08-30
M'KINLEY PROSPERITY.
MORE DEMOCRATIC TESTIMONY.

REPORT OF THE SUPERINTENDENT OF THE
STATE BANKING DEPARTMENT - AN IN
CREASE OF $50 sso $40 IN DEPOSITS IN
THE SAVINGS BANKS OF THE EN-
PRE- sTATE-AN EYE-orENER
FOR CALAMITY HowLERs.
fraoxA s1.yy CORRESPONDENT OF TRIBUNE
Albany, Aug. 2s-Most impressive and weish'y
testimony has Just been given from an on'c'a'
source respecting the prosperity Of the working
men OF New-York State since President HARRISON
assumed Office in 1880. This testimony comes IN
nocently enough from Charles NJ. Preston, the
Democratic anperintendcnt of the state Bankihs
DEPARTMENT Il is contained in his semi-ahhusi
stot~ment concerning the condition OF the o'a'cs
savings banks on July Of the present year
On January l. 1880, or only two months pe'ore
Mr. Harrison assumed Office, there was due 70
the dcpositors in the savings banks OF 'hiS ''",'
5o3G77.575 Large as this amount was inc "orh-
namen have added to it. million after million, un
I'll on July l. 1892 It has risen oS61 o,10oo' 3D.
They have thus increased their funds in the say
inos hanks in the course of President Harrison
Administration Ss6,ss2,5l6 49, Moreover, the re-
s,urces Of the savings banks have increased enor-
mouslv. They amounted on January ], lsSo 70
Ss15.sse. 706, and on July l. 1892, 70 S'Vi'I
s73 a. or an increase Of Ss5,223,O71 MI rrc''
ton furthermore reports that the savings ua"n'
have q surplus Of S00,257,Sso 81. IL Will |"
difficult for voters under these circumstances :"
recognize the years Of calamity so grap"ic'nS
descr;hed nv Democratic orators in giving his
tory of the Harrison ADMINISTRATOR Inc '".
mos hank deposito,s themselves do not seem to
hn owore If any reasons for melancholy or dis
trust of the future, for more OF them than ever
There were reported to be ,36e,s52 dcpositors IN
tho savings banks on January /. 1889: and July
1902 il was reported that there were l,aoo'-
az denositors in the same banks. This increase
in the number of depostOrs and IN the to'ai
amount OF their deposits is the more remarkaOie
from the fact that the trustees OF savings banks
for four years past have been refusing to receive
largo deposits or TO pay interest on more than
fixed amount. and have thus prevented thousands
of persons from putting their money III 'hese
hanks Furthermore, the rapidly increasing buiid-
ing associations in the cities diverted millions OF
dollars from the savings banks which would, In
former years have been put in these banks NOT
v,thstopding all these checks. stated above. tue
increase in the liabilities TO the savings hank de-
nositors since January /, $3.50, amounts to $780,
SS2,516 IS.
The magnitude Of the operations OF the savings
banks can nc appSccla,eu "Hch ~ IL iV"i"'" "'''
Mr.. Prcston's report that the amount OF interest
credited and paid in the course OF the ak months
ending July last was SlO4l7.s4o %. In the same
period there was withdrawn from the savings
banks the sum of $9O,6l4,15e o., and there wfas
dcposited the sum OF S11O,O3?.0 6s %. The net
increase of deposits accordingly was Slo,4l,,-
a15os. Inasnuch as this is the record OF only SIX
months Of the pr ge1t We r WITH tn, busire worih
prespcrous it can be predicted that the net dcpoS
i,s in the savings banks OF the S'a'e
tho present year will be S"o'ooo'ovo'
For State whose population Is de-
scribrd by tho Democracy rs suffering from 'he
nnrdcns Of the Mckinley act and Republican leg
sla.ion generally this has the effect OF Starting
snrprise That the poor woringmen should DO
able 10 make savings in six months amounting
n $40 900 0O0 exclusive Of interest, Is so aston
shipp that Democrats may he inclined 10 admit
that i. is at least possible that the tariff is not
tax. and that Mckinley prosperity is not figment
of Republican halunciation
In Kings County the worEingmen were aol" 10
make net deposit OF 81 ,O?9,Is4 So; having with
drawn sls,0O3.47 A. from, and deposited Sle,-
0sp "a % with the banks The financial stand
inc Of the various savings banks Of Kings County
July was as follows
BRooKLYS SAVINGS BAN KS l. 1892
S.,ipg. b,pts dcpositors. Sufpus.