The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-07-28
BUILDING ASSOCIATIONS
AMI Free S'lrrr--iiow aielnhers wonii
Suffer by tho Proposed t,oilry,

... c"utr ny the tfopohru VOIipy. .H..
Tho Philadelphia Press has the fol-
lowing, which Ia OF interest 10 every per
son who holds membership In building
asFoGIatlor:
ITO the editor OF tho Prcss:
"slR:-Will YOU kindly state iurt in
what manner members Of building 1850.
Citations would DO affected by free all
vcr" In whit wnS' md why should lilo
value OF shares be deprecated? N wv
y. W. ANDREWS.
philadelphia. July 2i.lS9G."
y building md lonn association col.
lcctS weekly or monthly payments from
us members. The money thus con-
'ributcd IL loaned an bond and mort
sage, usually TO mCmbum OF tho usSo-
ciation who nrc trying to purchase n
nome, These loans are payable IN n
short term Of years, nS the association
divides i,s shares "scrics' by 'acrics."
Tho practical result Of thls IN that
every dollar now In local building and
loan associations hns been paid With
In Few years, eight to twelve nj the
iarthest The cptlrc assets. nbout $780,
100000. owned by about 10000 share
holders, represented In these aasoCIn-
tons has been saved, paid and loaned
since tho existing gold standard" WINS
established by resumption IN 1879. An
this sum was paid In dollars on u parity
with gold, enjoying the purchasing
power OF gold and saved on Il gold basis.
II the Chicago platform Is successful
nj the polls and II President pledged TO
carry 1t ont Is elected next November,
the country will go on II silver basis.
All dollars now worth 81 In gold viii
b" worth only 81 In silver, This will be
true or the consideration specified In
every building association loan. Such II
loan can now only be satisfied by dol
lars on n parity with gold. 1t can then
be satisfied BY dollars on IL parity with
silver. r.
The nominal number OF dollars will
be unchanged, but their intrinsic or OK
chanSHnhle value, and hence their pur-
chasing value, will have fallen one-halt.
Tho debtor who has borrowed the money
from tho building association will pay
the debt more easily, but when IL hns
been paid md divided among the share
holders each OF them will find that II
VIII buy only half as much In commodI-
tics. Prices OF nil goods will be doubled,
The number OF "dollnrsr in the repaid
loan Will remain unchanged While their
number will remain the same. yet tho
amount OF things they viii buy will be
reduced onc-half.
The value Of shares will be dcprcci-
atcd In this way onc-half. This Is clear
~ understood by the able and expert
enced men who managed the annual
convention OF the local building and
loan association league. which has lust
met In this city. The members of this
convention voted unanimously for three
resolutions on this subject, as follows:
"First-That 1t Ia the sense OF this
meeting that the interests Of all shnre-
holders OF building and loan associn-
tions OF the United States demand that
the present standard of values, upon
which our monetary system has been
based since the resumption OF specie
payments In 1879, shall remain unchang-
ed md inviolate.
"SecOnd-That we believe that the in
tercS,s OF every class In the community,
and especially those of the great wage
earning class, impcratively demand
that every dollar In circulation, whether
coin or paper, shall be equal In pur-
chasing power and. therefore, equal in
value. 10 every other
Third - That patriotism demands
that the dollar bearing the mint-mark
OF the United States shall be the equal
OF the dollar OF the most advanced ma
tons, and entitled to full faith and Gre
dit all over the world: and 10 that end
1t must be maintained free from oil sus-
picion OF debasement or reputation"
The men who voted this way have no
politics" In their uttcrance and are not
politicians. They represent 10000
shareholders who have loaned $500. O00.-
900. and they want the money they have
loaned back In as good dollars rs they
harc paid. The Chicago convention, its
candidate and Its supporters look on
these sharcholders-who want the hon.
est dollars they paid repaid in dollars as
honest-as Capitalists" who are trying
to press crown OF thorns on the brow
of labor"