The Maryville times. (Maryville, Tenn.) 1884-1944, 1896-10-22
PROSPERITY UNDER
GOLD STANDARD.
A Benefit to the Human
Race, Not "a Conspir-
acy Against It."
Mr.. BRYAN REFUTED.
Marvellous Advance In Wealth
and Comfort of the Poo
pie In Gold Stand
ard Countries.
Mr.. BRYAN REFUTED.

The following Is careful summary OF
an interesting article written by Mr..
Charles A. Conant, the Washington CORE
spondent 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-
err Banks of Issue" which has received
the commentator Of the leading bankers
of America He Is an authority on eco
monte subjects, ard it is this circumstance
that lends an additional value to his con-
illusions.
One of Bryan most emphatic assertions
is that the gold standard is 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
done, by showing that the existence Of the
gold standard has not prevented ciyiliza-
tion 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 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 tho other
countries of tho Latin union, and the
abandonment of the silver dollar by the
United States.
Tie figures of the number of depositors
in tho savings banks and Of the aggregate
of their deposits alike 60 to show that new
err in the history of the world have the &C.
cumulations of labor been so rapid and 80
large. No economist of character would
stake his reputation upon the assertion
that this wonderful advance was due ex-
clusively 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 1873 to 1896.
A German student of finance has COM
piled general table showing the number
of depositors and the volume of deposits in
the savings banks in nearly every leading
commercial country in 1875 and at re-
cent date. In Prussia the number of de-
posltors has increased from 2,209, 101 in
1876 to 5, 772, 596 in 1891, while the de-
posts have grown from S964, $3.50, 900 to
$50, 6aS, 900. In Great Britain the do
posits have increased from 1921, 533, 900 in
1875 to $3.50, 1884, 900 in 1893. In Italy tho
depositors have increased from 769 257 in
1875 to 3,299,915 in 1894, while the
amounts of the deposits have grown from
500, $4,000 to S40S, 1884, 600. In France
there were 1896, 567 depositors with de-
posts amounting to S125, 664, 900 in 1875.
In 1894 the number of depositors had
grown to 1914, 345, with deposits of $685.
4G4,0 In Belgium the increase was
from 106, 3l2 depositors, with deposits of
S10 Ara, 900 in 1875 to S00,0 depositors,
with deposits of $79,254, 600 in 1891. In
France alone the facts show that deposits
of about 500, 900, 900 in 1879, just before
"the crime of '73, have swelled during
20 years under the gold standard to $780,
0000O0, while the population has shown
no material change
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 minis open to silver not
only in 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 1873 to 1890, and whereas in
1870 the number of depositors was $780,
SAG, with deposits Of S549, S74, 35S, in 1895
the number of depositors had grown to
4,S15, $40 and the amount of deposits to
$3.50, 597,023 The average deposit per
capita had meanwhile increased from
$14.26 in 1870 to $50. SO in 1896
These facts absolutely demonstrate that
the countries which have adhered to the
gold standard have shown a steady in
crease in the savings deposits of their work
ingmen. 1t is complete and irrefutable
proof of the falsehood of Bryan's dictum
that "tbe gold standard is conspiracy
against the human race, and 1t shows
that there is no truth in his other assertion
to the effect that raising the purchasing