Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1896-10-20
ia the truth, and Mr. Bryan VIII IN vain try to
deny It,
Debtor and Creditor.

Is the truth, and Mr.. Bryan VIII IN vain tryto
deny IL.
Debtor and Creditor.
The free coinage men profess especial solfci'
t,ido for those whom thoy call "thc debtor
class. Who are tho dobtor classf Our silver
friends speak a. II, a. rule, the rich people
were creditors and thc poor were debtors. Is
this corrccy In my household ! am the debtor
10 the cook and the chambermaid and the
month, and they are ny creditors. Nor
are they likely TO be debtors 10 anybody else,
while I may be, for they have little IL
any credit. while perhaps have some. ] am
therefore the only debtor In my house
The relations between the large employer OF
labor and the employees are substantially tho
same. Ordinarily the employer the rich man,
IL apt o. be the only debtor among them.
The employ = are ns rule. only creditors.
and they lay up savings they arc apt TO be-
come creditors In larger sense. They depos-
~ thoir money in savings banks or invest 10 IN
building associations. In mJtual benefit socie-
ties. in loan companies or IN life insurance
policies and become capitalists in small
way. The amount deposited by people Of
small means In tho savings banks q the United
States Is at present something over 81, $1,000.
oUO. that invested In buildin; associations
about $500 OsU,GbO. IN mutual benefit societies
t9g5. 90 90 and I'm lie insurance many hun
drrd millions moro.
The number Of such creditors belonging TO
what our silver friends often call "the toiling
masses" II Therefore very large Together
with their dependents 10 nay, for aught We
know, ainourt 20 sij,0UO.uO Ur f0.UU,oD Who
are the debtors Of these crcditorsf The sAy.
ings banks had. according 70 the reports Of
1854 loaned out about One-ban ~ the money
deposited with them ON real estate mortgages
and invested the other hall In United States
bonds state. county and municipal bonds and
railroad and other bonds and stocks. The In
yostinents - the life insurance companies
were about prupurtiOuat,ly The same. Tho In
yestmonts In real estate mortgages are always
preferably IN large amounts on property bc-
longing D. comparatively wealthy persons or
20 business c, -porations. Thus the debtors 20
those cR,ditois belonging e. the toiling masses
arr the United States. states and municipali'
ties. rnilroad and other corporations and por'
sons very much richer than tho creditors.
Hero we hayn, then, rich debtors owing 20
many millions of poor creditors thousands Of
millions % dollars.
The silver orators pretend that they have tho
toiling masses greatly ut heart and that free
coinag. i 20 be introduced mainly for their
benefit How do they tako care Of the toiling
Inas-,s in this caso1 by bringing us down
upon the silver blsis they simply cut down
the thousands of millions Of invested savings
ot poor people 90 about - cents on the dollar.
And for whose benefit l. this donoi For the
bcne1t q the debtors - these poor people, who
will gain about ~ cents on the dollar. And
who are theyi Asiie from tho United States
and the states aud municipalities, those
debtors are railroad and other corporations
and more or l.-- rich men. whom our silver
a A. u. Ill
ing 10 the money power Thus will the
silver standard bleed The poor cT, ditDr Tor tho
b,u.at of Oh, rich debtor. Mag not the toll
ing masses pray heaven g. deliver them Of tho
free coinage friencsf
How til. Peoples savings VIII Fare.
And what have these friends % SAY IN their
own ,!cfcnsof IWill again lrt Mr. Bryan's New
York Grafton speak. lie says hrst with regard
% the insurance companies. "slnCs the total
pTemiGms received exceed The total losses paid,
- rising standard must bo Of more benefit 20
the companies than 20 the policy holders. y
How wi,ei And that the companies may no.
hnyo this benefit ho proposes by the silver
standard 30 strip the policies u the policy
holders Of nearly half their value! But does
not Mr Bryan know that most of these com
panics arc mutual insurancos, and that what
benefits or Injuries the companies therefore
benefits or injurcs the policy holdcrsi
A. % the saving bank dopOsitors he says.
"Under gold standard there n increasing
danger that thr savings bank dopOsstors viii
lose their deposits b' cause Of the inability of
the banks to collect their assets" And 70
avert this danger MIR. Bryan advises policy
which would. by the introduction u the silver
standard. at onco cut down the value Of those
assets to 81 cents on the dollar. He further
says. III the gold standard II 20 continue in
definitely, the depO.itors In savings banks may
be- compelled To withdraw their deposits In
order 20 pay living 'Xpcnscs. Indeed 10 Is
"A remarkable fact that since ls,3, the year Of
the great crimo. until 1886, during the period
when we had u suffer all the calamities Of the
gold standard. the deposits IN savings banks
have. instead ~ being withdrawn for living
expenses, incrcas-d-pOsitiyely increased
much oyrr N.OCU.uOuO. And they would
have increased still more hhd not some deposit
ors Withdrawn their d,pcsits, not for living
expensos, but % -end them b Europe FOR safe
ty, out ot the way II Mr. Bryan and other
friands OF the tolllng masses. They Will no
doubt bring that money back as soon ~ Mr..
Bryan Is beaten.
business j. "a debtor and creditor az the same
timc-cvery morchHS,, every manufacturer.
"A creditor % his customer and a debtor %
those from whom ho buys. Lit Mr.. Bryan
bring on his panic, and hundreds " not thou
sands II them, although ever 80 solvent under
ordinary circumstances. viii brehk because
they cannot pay what they owe, being unable
10 collect what J. due them.