The Republican journal., 1896-10-08
Silver's Worst Victims.
How Savings. Banks DepositOrs, Insured Persons
and Pensioners Would Suffer.

!
Let us see what the extent of the loss in
these three last named directions would
| be. There are in the United States about
| 5000, 600 depostors in savings banks.
Their aggregate deposits are estimated by
the best authorities at 81, 500, 600, 900, a
sum fully equal to the entire stock of
money in the country. These deposits
are not made payable only in gold. If
we were to pass to silver standard, to a
dollar worth only 80 cents which would
be legal tender for all debts, these ST.
500, 600, 600 would shrink in a night to
1854, 900, 600 Who would lose the other
SS46, 600, 600? Would they be capitalists.
money-lenders, rich bankers, and million
aires? Not bit of it. They would be
the hard working heads of families.
devoted fathers and mothers saving for
their children and their old age, widows
and orphans, and deserving and ambi-
tious youths seeking to lay the foundation
for active and useful lives. There would
be no escape for them from this depri-
Walton, which in many instances would
turn life of simple comfort into one
of want and misery. We have here
single class of 5000, 600 persons who
have the best of reasons for looking upon
gold as the true money Of the people.
Yet these do not greatly exceed the
holders and beneficiaries of life-insurance
policies. There are in this country no
less than 3, 3S2, 900 holders of life-insur-
ance policies and certificates, amounting
in gross to 80, 1853, 600, 600, a sum nearly
six times the entire amount of money in
the country These holders have been
paying their premiums for years in gold,
or its equivalent, expecting to have it paid
back to their families after their death. or
on their policies becoming claims. The
policies are not payable in gold alone.
The companies and associations did not
agree to pay them in that coin only. The
average annual payment for claims is
S120, 600, 000 so that if We pass to a So
cent dollar this will be cut down to S63,-
500, 600, and the annual loss to the widows
and orphans OF the land through this
source will be S36, 400 900. In this case.
also, the loss will not tall upon the rich.
1t will fall upon the most helpless, and
Will be robbery of the most deserving of
all our citizens, for the man who insures
his life for the benefit Of those who are
dependent upon him must be worthy
citizen. This is another class who have
excellent reason for looking upon gold as
the true money OF the people.
! iLdIIS lHtIt is our army OF 100000
pensioners, drawing annually from the
national treasury $40, 900 900. Their
pensions are not PAYABLE il gold alone,
and would be paid IN silver. Their an
nual receip's would drop from $40. 600. :
GOO to S14, 20, 600, and the other $50. 500 :
000 would not come out of the pockets of
the rich, but of the poor veterans of the
war, who have been given this aid be-
cause they are supposed to have deserved
we'll Of the nation and are not able to SUP
port themselves. As a greater part of tile
persons affected in this case are voters. it
is interesting to see how they are listrib-
uted in The country, and how the loss will
fall upon the different States. In Ohio
there are LOS, 100 of them, and their total
loss would be over 81. 10 600. In Hi
nois there are CSC of them. and their
loss would be nearly -. coo, 600 In In
diana there are 80, $50 Of them and their
Loss would be over So, 900, 900. Surely this
is an aspect oI free coinage which rises
above partizanship: for, as the late Con
gresham Harter of Ohio said of it. the
nation good faith to its living soldiers is
not only called in question by it. but if ii
becomes law the widows and orphans of
the nations dead will be robbed by the
laws of the land they died to save This
is a third class. then, who have excellent
reasons for looking upon gold as the true
money of the people. The Century for
October