Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1896-10-10
n whose Interests Arc the SiIveFitcs ReaIl,
Working?

tho dav. The fact is daily becoming
moro and more palpable that the claim
of Bryan and his followers. that they
are laboring in the interests of the
| American masses is a delusion and a
sham. 1t is simply the shallow device
by which these demagogues are seek
| ing to blind the people to the real
issues involved in the campaign. They
are actually working not in the in
terest of the masses, but in the interest
of one of the most powerful. best or
ganized, and aggressive combinations
of capital ever known to the history
of the republic-the great Silver Trust
This fact the intelligent voters of the
country are coming to understand
more fully every day. AS a result the
free silver movement is rapidly losing
ground as election day approaches. 1t
has been the mistake of the Bryan
woefully underestimate the intelli-
gence of the American people.
Let us consider for moment some
of the consequences that the free coin
age of silver would involve right here
in our own State of Maine Take. for
example, our savings banks. Their
total deposits at the present time
amount, in round numbers, to $50, 00O,
coo. This vast accumulation of wealth
represents the savings of no less than
100, 900 depositors. These people are
not money kings 'blooded bond
holders" or any other of the choice
cpithets that Mr.. Bryan and his fol-
lowers delight to apply to the thrift
of the country. They are almost wholly
working people of very moderate
means. The average amount of their
deposits is less than $500. These de-
posts represent in most instances. the
patient savings of years, set aside out
of the returns of toll. to provide against
a rainy day In addition to the de-
posits held by our savings bank, there
amount of several millions more held
by our colleges, academies, and benev-
olent Institutions, and in the hands of
private individuals. These funds which
play so important a part in the educa-
tionai, religious. and philanthropic life
OF our State are. for the most part. in
vested in mortgages and other forms of
security, resting upon credit and obli-
CATION to pay. There is only $4,000
900 of the $50 ,o0O. 900, held for depositors
by our savings banks, invested in mort
cages on real estate, and a very con-
siderable portion of this is upon city
lots and buildings There are no mil
lionaires," in this kind of property at
can count upon his fingers the number
that have quarter of that amount
The principal share of the mortgage in
debtedness of our State is owned by the
people who have their hard earned saw
ings deposited in our savings banks.
These then are the 100 900 people in
Maine. who, together with our educa-
tional and benevolent institutions con-
stitute the gold bugs" of our State
who, in the words of a prominent sill
Yer leader are to be made to "squeal''
in other words, are to be robbed of
malt OF their hard-earned savings by
the establishment of a full legal tender
tfty-cent silver dollar, a movement
which its advocates admit will bring
all existing values to silver basis.
And W no are the poor debtors" who
are to be relieved by this radical I'D
hcaval in our financial system? The
assets of our savings banks will show
any man who takes the trouble to ex-
anime them, that the principal poor
debtors who would be aided by legis-
lation that would enable them to repu-
date one-half of their debts, bv nav
ing them in fifty cent dollars. are the
rich and lourishing cities and coun-
ties, and great railroad and other cor
porations,
In the assets of one of the banks we
find the following securities:
Western county and city bonds. s. 597 0o1
va" o'ii"S. ACKNOWLEDGEMENTS. ZOOS, 30
In the assets of another Maine bank
we find the following securities:
Western county and city bonds. s., ~. $50
Among the cities whose bonds are in
Guided in the above statements are
Cincinnati. Chicago, Detroit, Cleveland.
Minneapolis, and other large and
prosperous cities, and it must be borne
clearly in mind that it is the property
OF the rich people of those cities that is
chiefly liable for the payment of these
municipal debts.
| In other words the thousands of moor
| people. whose hard earned savings
representing years of patient toll and
thrift, are invested in these securities
| are the gold bugs" whom Mr. BRYAN
ana MS followers are so vigorously de-
| DOunClnT. and whom, tbox- coo1- 49,,