The Republican. [volume] (Oakland, Md.) 1877-current, 1896-09-03

the United States, which you know
is $947, 000,0 You can compre-
bend a hundred thousand dollars
and realize that it is large amount.
A person having that sum is con-
sidered fairly we'll to do but the de-
positors in savings banks own six
teen thousand times more than
that. The figures appall one, still
the amount owned by each deposl-
tor is not large, being only 1867 on
the average.
1t is therefore quite evident that
this is not the money of the rich.
1t is the capital of the toiling
masses who have put by their little
savings agalnat a time of need to
buy bread for wives and little child
rem when they are out of work and
in case of sickness, accident or old
age. And it is proposed to confis-
cate by law one-half of these little
sums by legal enactment. Sayings
bank depositors belong to the cTedi-
tor or capital class. They are not
debtors for they have no credit ex-
cept between Monday morning and
Saturday nioht when their wages
are paid; but that little capital of
each deposited in saylngs banks is
invested in Z. S. bonds, bonds of
the several states. city bonds, loans
on bonds and mortgages, etc.
If a CITY wishes to pave its streets,
erect school houses, construct
docks, build public buildings, the
savings banks loan the money the
use of which gives EMPLOYMENT to
the very people who loan the money
and thew thus get dividends in the
form Of wages for steady work and
an extra dividend in the form of in
terest which the city paws on then
money which is loaned toit. (What
other capitalist makes so good an
investmenE.) By this means labor
and capital are united and work to,
gether for the protection of each
and for mutual benefit. Other
unions there are. which tax labor to
support the former when on strike.
Strikes are expensive and always
result IN loss both to the employee
and employed. The savings banks
of the country have Investments IN
$500, 900, 900 U. S. bonds. These
bonds were paid for in gold because
at the time the law was enacted au-
thorizlng their issue they were to be
paid both principal and interest in
Z. S. coin of the present standard
of weight and fneness and as there
was no silver dollars at the time, U.
S. coin meant gold. 1t is now pro
posed to pay the interest and prin-
cipal at maturity in silver coin
which is worth, as we have said, but
a little more than one-half. This
rank injustice would deprive the
depositors of nearly one-half of
their property. 1t is one of the OBJ
iects of the leaders who are IN favor
of free coinage of silver to compel
the government to pay U. S. bonds
in silver dollars reduced in value.
1t may be thought unkind to ex-
press an opinion of a measure advo-
Gated by so many good people but |
cannot think of it in any other as
pect than as a robbery to be COM
mitted on the people to take money
and other property out of their pos
session without giving them a fair
equivalent and this also by great
and rich nation.
Seventy millions of people are
asked to sanction this iniustice-an
outrage upon their property rights,
their Integrity, for the benefit of
whom? For the profit of few
thousand owrers of silver mines
and not all of them either, for
great number of them are satisfied
with their present dividends and do
not ask for more.
The advocates of free coinage say
that GOLD has anpreciated so much