The record-union., 1896-10-19
VIEWS OF A HISTORIAN AND
PUBLICIST.

Ex-President Andrew D. White, the
historical scholar and eminent publicist,
early in the campaign addressed an
open letter to leading Democrats ap-
pealing to them to reject the doctrines
of the Chicago Convention. In that
letter he termed the convention "a ia
Goblin Club" For that expression he
has been sharply criticised. He now re-
plies in the Forum" addressing es-
pecially thoughtful people
He recites how he became a histori-
cal student and especially of French
history, who were his teachers and who
tire witnesses of the revolution with
whom he held converse during years.
and how he analyzed the sources and
the results Of that movement. He then
makes comparison Of that period with
the present and renews his charge and
defends It.
Ii Is an arraignment arresting atten-
ton and commanding respect for it's
patriotism, courage and hopeful char
aoter. He finds some parallels between
the two periods, but far more things
that are not parallel The latter en-
courage him to hope for the best.
religious wars and mobs in the six
teenth century rooted out of France the
substantial, thoughtful, conservative.
middle class; those whom Lincoln called
the plain people, the class we have
and that is here to stay. It has the
power to control and it is essentially
lne creditor class besides and has most
at stake
Inc french had not our experience
with fanatics and demagogues. They
TOOK them at their tongue value: we aq-
innate them at their real value and are
not led to believe that by waving m
their wands bread can be nirao,,Io,,s1,,
made of stones. or money miraculouslv
multiplied.
IN france the body of farmers and
"orKlngmen had everything to gain.
while with US they have everything to
lose We have 100000 people with de-
posfts in the savings banks: a million
and half with interests In State hanlrs
and the like; nearly 100000 with in
vestments in building and loan associa-
t1ons; 3,JO0,000 with money in various
mutual benefit, fraternaI and co-opera-
tive societies; nearly 1000 900 with
moriey in industrial companies. and
many millions with policies In life and
accident companies, fire insurance. etc
the New York companies alone repre-
sentfng ten million policies. Here is q
creditor class indeed one of which old
revolutionary France never dreamed.
The Secretary Of the Treasury reports
that the banks, trust companies. build
ing associations and similar concerns
owe the people to-day more than So
O0O,O00,000 for money actually depos-
fted, or eight times as much as the CAP
ital of all the national banks, while In
other concerns such as insurance. etc.
they have more than ten thousand mil
lions Of dollars, q sum greater than all
Investment in railroads, and fifteen
times larger than the capital of all the
national banks.
Again, Of all the mortgages by farm
ers, two-thirds are past due, and this
is fact that has its significance, since
II the doctrines of the Chicago Conven-
ton prevail it may be taken as certain
that these obligations will be called in:
1T will be a natural sequence so that
there are in this direction great inter-
ests bidding against debasement of the
currency.
President White believes that the real
creditor class. the small capitalists. will
be disposed to do justice and resist rad
ical and revolutionary attempts and
prefer evolution
In France there was little Of the bus
mess instinct at the period of her revo-
luton, but with US that instinct is a
factor widespread and efficient. teach
ing that the more successful are our in
dustr1es and enterprises, which now