Union County courier. [volume] (Elk Point, Union County, D.T. [S.D.]) 187?-1913, 1896-08-06

handle the wealth after It ~ created.
the bankers, for instance. Now, wha.
il the real situation in Rockford? The
number of bankers in that city ID, alto
gether, thirteen, and the total amount OF
capital which these thirteen bankers have
posits in their banks is $3,4OO,OOO. So
that these thirteen bankers, with a total
paying capacity of but $4,000, are
entrusted with $3,4OO,OOO of other peo-
pies money with which to do business
In any they choose. Upon its
lace, It would seem that any number Of
men who have a total paying capacity Of
but $375,OOO must be Of great integrity,
uprightness and relia ability to be entrust.
cd by the very people with whom they
live and do business with whom they
their paying capacity, or $3,4OO. 900.
Mho are the people who have entrusted
this thirteen with SC large . sum Of
money, SO much in excess of their pay
ing capacity? They humber $500 ia
that city of a total population of 10000.
In this case. therefore, who are the
HeDtors! They are undoubtedly the
$500 depo saess sa;zsee1 Sen owe these
Now, If all that has been said about
the rapacity Of the creditor class be true,
think OF the situation in which these de-
posltors have these poor bankers. IL
an that has been said about the poverty,
!ne wretchedness and the enslaved con-
dition of the debtor class be true, think
OF the miserable plight of these Door
bankers. -"
What is true in Rockford must BE-
true OF the whole country. The real
debtors of the country are bankers.
ana the real creditors Of the country
are the depositors, and it is to the credit
as it is to the credit Of the banker Of
rockford. that although they could net
oo per cent. on the dollar if the coinage
or free silver at 16 to 1 were made legal.
by paying their depositors who have de-.
fosited gold at 81 to l with them in
liver at but 16 to I. none of the bank
"rs of the City of Rockford. and but
,ery few of the bankers in the Tinted
tates. who would have so much to
Saln by the adoption of this free silver
Auhacy, have advocated this policy.
winch would enable them at one stroke
TO clear so much money.
inns brief statement makes It plain
mat Ill the utilization which has been
bestowed by Populist orators and news
papers upon the creditor class of the
United states has been emitted because
OF totally false Misrepresentation as to
VINO the creditors are. and il is but q
sample OF the profound ignorance UNDER
Hlns the whole free silver agitation that
they nave undertaken to describe a.
vampires. blood suckers, Shylocks, etc,
the great producing classes of this coun-
try who are it's real creditors and who
own all the money deposited in the
banks and upon which bankers do BUSH
ness and upon the borrowing of which
most OF the manufacturing and produce
ton of this country is carried on. So
That the Populists of this country who
nave been claiming to be the friends Of
the people. have been denouncing them
upon the superstition that the ~denuncia-
ton has been describing the bankers;
whereas, the real truth is, the bankers
are the debtors and the depositors are
the creditors.
According to that the Populists won't
accomplish free silver?
Well. there are in the United States
o.OOO.OOO depositors in the savings institu-
lions OF the country. and they own de-
If all the people in the United States
who can vote, should vote, the total vote
cast in q national election would be
about 14,OOO.OO0; but the largest average
national vote cast il about 11,OOO,O 600;
hence, the total number of depositOrs in
savings institutions in this country large
~. outnumbers any majority Of votes
which has ever been cast in . national
election.
In the single state of New York there
are 100000 deposit0rs in the savings
banks Of that state. They have on de-
York there are but about 100000 vot-
ers; the number of depositors in the saw
ings banks of that state exceeds the
number of voters in that state by 5OO,-
OO. These figures show the utter inn
possibility of any such movement as the
free silver movement succeeding in this
country, because it's success would in
volve the conversion of more people than
have ever voted on one side upon any
question in this country, to the abso-
tie with the savings institutions in which
their money lies, at so cents on the dol
lar for every 100 cents on the dollar they
have on deposit.