The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1896-09-19

There are now on deposit In the savings
banks Of SO states and territories of this Union
the vast sum OF s2,OO0.000.OO0. These are the
savings of almost 5000, 900 depositors. In man.
cases they represent the labor and economies
OF years. Any depreciation in the value of the
dollar would defraud every man. woman and
child to whom these savings belong. Every
dollar OF their earnings when deposited was
worth 100 cents in gold of the present
standard Of weight and fineness. Are they not
entitled to receive in full, with interest. all
they have so deposited? Any legislation that
would reduce 1t by the value OF a single dime
would be an intolerable wrong to each deposit
tor. Every bank or banker who has accepted
the earnings OF these millions of dollars to the
credit Of our citizens must be required to pay
them back in money not one whit less valuable
than that which these banks and bankers re-
ceived in trust.
"Ihere are in this country nearly 600 build
ing and loan associations. with shareholder to
the number OF 1s,O0O,OOJ, and with assets
amounting to more than s501.OOO.W0. Their
average Of holding is nearly 500 per capita,
snd in many cases they represent the
savings Of men and women who have
dsnied themselves the comforts OF life
IN the hope Of being able to accumulate
eaough to buy or build homes Of their own.
They have aided in the erection Of over Z mill
lion OF houses, which are now atTording COM
fort and shelter for 100000 of our thrifty peo-
pie.
Free coinage at the arbitrary rate Of six
teen ounces OF silver to one OF gold would be
equivalent to the coniscation Of nearly half
the savings that these people have invested.
II would DE tantamOunt to Il war upon Ameri-
can hOme-makerS. II would be an invasion Of
the homes Of the provident,' and tend directly
to destroy the stimulus TO endeavor
and tie compensation OF honest toll
Every one OF the shareholders OF these
associations is entitled to be paid in money
OF the same value which he deposit
ed by weekly payments or otherwise in these
companies. No one Of them should be made
homeless because a political party demands a
change in the money standard of our country,
as an experiment or as a concession to SELFISH
ness or greed"
The vice-presidential nominee then Illus
trateS the effect Of the debasement of the cur
rency TO a silver basis upon the farmer, the
manufacturer and the pensioners OF the lats
war.
REPUTATION OF INDEBTEDNESS
THE proposition for free and unlimited sill
yer coinage" SAYS Nj. Hobart. carried to
its logical conclusion. and but one is pUssi-
bic, means, as before intimated, legiSla-
tive warrant for the population OF all
existing Indebtedness. public and private, to
the extent Of nearly 80 per cent. Of the face Of
Sl NUCL lAtatttC'''4tNN- II tt-A4dll'iS al uillil-
tied volume OF fiat currency, irreieemabIe,
and. therefore. without any standard value in
the markets OF the world. Every considcra-
ton Of public interest and public honor de-
mands that this proposition should be rejected
by the American people
The concluding portions Of the letter are de-
voted to the tariff, ana in finishing his discus
sion Of existing issues Mr.. Hobart says:
The republican party has always stood for
the protection Of the American home. It has
aimed 10 secure it in the enjoyment Of all the
blessings OF remunerated industry. OF moral
culture. and Of 4 favorable physical environ
ment. Ii was the party which instituted the
policy OF free hOmestcadS. and which holds
ROW that this policy should he re-eStablished.
and that the public lands yet vacant and sub
ject to entry in any part OF oar national terri
tory. should be preserved against corporate ag-
gression as homes for the people. Il treaties that
the safety OF the state lies in the multiplica-
tion OF households, and the Strengthening OF
that sentiment OF which the ~yirtUous home is
the best and the trUcst embodiment; and it
will aim to dignity and enlarge by all proper
legislation this element of security.
III elected to the position for which l have
been nominated it will be my earnest and con-
slant eudeavor. under Divine guidance, in the
sphere OF duty assigned to me-, to serve the
rsop!e Loyalty along the line of the principles
aSd policies Of the party which has honored me
with Its preference"