The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1896-10-17
A Benefit to the Human
Race, Not "a Conspir-
acy Against It."
Mr.. BRYAN REFUTED.
Marvellous Advance In Wealth
and Comfort of the PeO-
pie In Gold Stand
ard Countries.

The following is careful summary Of
an interesting article written by MIR.
| Charles A. Conant, the Washington CORE
| spondcnt of the New York journal of Com
merce showing how greatly the world has
benefited by the gold standard. The arti-
Gle was recently printed in number of
leading newspapers, notably the New York
Herald, Louisville Courier-Journal, Spring
! field Republican, Boston Herald and st.
| Louis Globe Democrat Mr. Conant is the
author of recent work, entitled Mod
ern Banks of ISSUE" which has received
the commentator Of the leading bankers
of America. He is an authority on eco.
nomic subjects, and it is this circumstance
that lends an additional value to his con-
| illusions.
Ono of Bryan most emphatic assertions
is that "the gold standard is q conspiracy
against the human race" and, again, that
the gold standard, while it has raised the
purchasing power of the dollar, "also
makes it more difficult to obtain possession
of the dollar Both these self confident
declarations are far from the truth, and it
only requires an examination of facts, not
theories, to establish their falseness. This
can readily be done, as Mr. Conant has
done, by showing that tho existence of the
gold standard has not prevented civilza-
ton and labor from taking strides in
wealth and comfort never taken under any
other standard in any other age of the
world
Increase of Savings Deposits.
In fact, the recent economic history of
gold standard countries shows Il more Won
derful advance in the wealth and comfort
of the masses during the 23 years from
1878 to 1896 than during any other period
of equal length. The year 1878 was the
year of the adoption of the gold standard
in Germany, the suspension of free coinage
in France, Belgium, Italy and the other
countries of the Latin union, and the
abandonment of the silver dollar by the
United States
The figures of the number of depositors
in tho savings banks and of the aggregate
of their deposits alike go to show that ncv-
err in the history Of the world have the &C
cumulations of labor been so rapid and so
large. No economist of character would
stake his reputation upon the assertion
that this wonderful advance was due ex-
clusivey to the suspension of free coinage
and the adoption of the gold standard.
But the opposite Of Bryan's proposition is
conclusively demonstrated by the figures of
the savings deposits in every important
gold standard country. They have increased
many fold and doubled over and over again
during the brief years from 1878 to 1896.
a German student of finance has COM
piled general table showing tho number
of depositors and the volume of deposits in
the savings banks in nearly every leading
commercial country in 1875 and at u re-
cent date. In Prussia the number of de-
positOrs has increased from 2,2O9, 1O1 in
1875 to SIRE, 500 in 1891, while the de-
re hnN-n ~
SSl0,62S, 900. In Great Britain the de-
posts have increased from 1921 ,53S, 900 III
1875 to 1898, 1874 900 in 1898. In Italy the
depositors have increased from 100, PSI in
1873 to 3,299,9l5 in 1894, while the
amounts of the deposits have grown from
500, 1913, 900 to S40S, $4,000 In Franco
there were 1866, 567 depositors, with de-
posits amounting to Sl25, 664 900 in 1875
In 1891 the number of dcpositors had
grown TO 6, 3l4, 3i5, with deposits of $623,-
i64,0 900. In Belgium tho increase was
from 1861 dcpositors, with deposits of
$40, 472, 900 in 1875 to $780, GA depositors,
with deposits of $40, 354, 600 in 1891. liz
France alone the facts show that deposits
of about 100000, 0G0 in 1872, Just before
"thc crime of 49, have swelled during
23 years under the gold standard to $780,
10000 while tho population has shown
no material cnangc.
Prosperity In America.
In Belgium the people have increased
their deposits in the savings banks FORTY
fold since 1870, when they were enjoying
all the benefits of mints open to silver, not
only i'll Belgium, but in France, Switzer-
land and Italy.
In our own country under the operation
of the standard established in 1878 the peo-
pie have doubled their savings banks de-
posts from 1878 to 1880, and whereas in
1870 the number of depositors was /, 63O,-
SAG, with deposits of S5l9, S74, 1853, in 1895
the number of depositors had grown to
4, $40, $40 and the amount of deposits to
sl,SlO, 597, 023. The average deposit per
capita had meanwhile increased from
Sl4.26 in 1870 to S25. SO in 1895.
These facts absolutely demonstrate that
the countries which have adhered to the
gold standard have shown steady in
crcascin the savings deposits of their work
ingmen 1t is Il complete and irrefutable
proof OF the falsehood of Bryans dictum
that 'tbe gold standard is a conspiracy
against the human race" and il shows
that thnrc IS no truth IN his Other r-spr+io,,
to the effect that raising the PURCHASING
power of the dollar 'makcs it more diff
cult to obtain possession of tho dollar"
Good Advice.