Alma record. (Alma, Mich.) 1878-1928, 1896-10-16

know, amount - sloUU0.OOO OF t1,UUOOO. Who
are the debtors OF these creditorsi The
ings banks had, according 10 the reports OK
1904, Jared oUt about one-halt Of the money
deposited with them ON real estate mortgages
and invested the other half in United States
bonds. state, county and municipal bonds and
railroad and other bonds and stocks. The in
vestn.onts &c tb@ life insurance companies
were about proper .ions'sly the same. Tho in
vcstmonts in real esVate mortgages are always
preferably IN large amounts, On property be-
longing 10 comparatively wealthy persons or
20 business corporations. Thus the debtors TO
these creditors bel nging 10 the telling masses
are the Unit States, states and muncipal
ties, railroad and other corporations and per
sons very much richer than the creditors.
Here we have, then, rich debtors owing 10
many millions of poor creditors thousands OF
millions of dollars.
The silver orators pretend that they have tho
toiling masses greatly at heart and that FREQ
, coinage is 70 be introduced mainly for their
benefit. How do they take care of the toiling
masses in this case? BY bringing US down
upon the silver basis they simply cut down
the thousands Of millions Of invested savings
q poor people 20 about 30 cents on the dollar.
And for whose benefit Is this dOnef For the
lsuefit Of the debtors of these poor people, who
VIII gain about 80 cents on the dollar. And
who are theyY Aside from the United States
and the states and municipalities those
debtors are railroad and other corporations
and more or less rich men, whom our silver
friends profess 20 abhor very much belong
iir 10 tho money power Thus VIII the
silver standard bleed tho poor creditor Tor tho
l,ncht Of the rich debtor. May not the toll
i.g masses pray heaven 10 deliver them of tho
/ n"o coinage fricncsY
the Peoples Savings VIII Fare.
And what have these friends to say in their
Z own dcfcnsei Will again let Mr.. Bryan's New
York Grafton speak. He says first, with regard
. 70 the insurance companies, "Sinco the total
premiums received exceed the total losses paid,
IA rising standard must be of more benefit to
the companies than % the policy holders.
! How wise! And that the companies may not
have thls benefit he proposes by tho silver
standard 90 strip the policies Of the policy
holders Of nearly half their value! But does
not dr. Bryan know that most OF these com
panies are mutual insuranccs and that what
! benefits or Injuries the companies therefore
benefits or Injuries the policy holdcrsf
As 10 the saving bank depositors he says,
"Undor gold standard there il increasing
! danger that the savings bank depositors Will
/ lose their deposits because of the inability Of
the banks 10 collect their assets. And to
avert this danger Dir. bryan advises a policy
which would. by the introduction of the silver
standard, At once cut down the value Of those
! assets to ~ cents OF the doller He further
! says, IF the gold standard is 20 continue in
definitely the depositors in savings banks may
be compelled to withdraw their deposits in
| order TO pay living expenses" Indeedl 1t is
=
the great crime, until 1905, during the period
! when We had TO sufier all the calamities Of the
gold standard, the deposits in savings banks
have, instead Of bciag withdrawn for living
! expenses, incrcased-positivcly increased
much over 81 OUU,OI0,CO0 And they would
have Increased still more had not some e Iosit
ors Withdrawn their deposits, not for living
| expenses, but - send them TO Europe for safe
~, out Of the way of Mr.. Bryan and other
friends Of the tOiling MASSES. They Will no
doubt bring that money back soon as Mr.
| Bryan Is beaten.
Let Us go on. Almost every man in active
| business is debtor and creditor at the same
/ time-oVery merchant every manufacturer
a creditor TO his customers and debtor to
those from whom he buys. Let Mr.. Bryan
bring on his panic, and hundreds if not thou
| sands 81 tnen, although ever SO solvent under
| ordinary circumstances, Will break because
they cannot pay what they owe, being unable
, 10 collect whit l. due them.
"Cheap Money" FalIacies.
But told that the Bryan panic cannot
last forever; that finally the business of tho
country viii adjust itself to the silver basis (;
that then unrest will cease ana that confidence
and prosperity viii return. No, the unrest
Will not cease, for with the establishment Of
the silver basis viii come the disappointment
| of those who brought IL on.
The ultimate result il not at all uncertain.
After a period Of infinite confusion, disaster,
humiliation, suffering and misery the Amer
lean people will at last regain sanity Of mind
and arrive again at some very simple concur
| sions. That II you call "a peck "a Dushel you
Will have moro bushels, but not more grain
! II you call foot a yard, you VIII have more
yards but not more cloth; II you call square
rod an acre, you will have more acres, but
not more land. and if you call ~ cents or /
! cent or "A hit OF paper, "a dollar, you VIII
| have more dollars, but not more weaith-iu-
deed, n great deal less chance tor wealth, for
you will have far less credit, because far less
| honesty. We shall then have learned again
that the Wit of man cannot-although insanity
tries very harL-invent al economic system
under which everything You have 10 sell VIII
be dear and everything you have e. buy viii
be cheap. And having got mold Of these very,
very simple truths the American people Will
then in sackcloth and ASHES repent of this in
sane free coinage GeLSuch. They will then
recognize how wise tAo crta civilized nations
were in adopting tn oEly money IN OR days
capable Of being tie IL oncy Of the world ;
commerce as their own money. We shall then
be sufficiently cured Of rc!Udlce 10 observe
that under that monetary eyStCm those ma
tiOns have ON the whole prOspcred, notwlth-
standing serious evils and drawbacks under
which we do not labor, and that the rate Of in
terest i lowest wher" the gold standard has
existed longest. We shall then understand that
Ii Is good thing to have the necessaries of
life in plenty and cheap TO have wages rising
and payable IN money that does not deceive
10 have c. pital inspired with confidence in the
valuo Of money, ana therefore eager TO 20 out
in investment or enterprise. We shall then
/ readily acknowledge how foolish w were
from the very beginning Of our silver expert
ments in throwing away our gold for silver,
by which we lost conf 3CncC, credit and pros
rerity. Cb8stened by adversely, We shall then
10 longer De tempted to repeat such nonsense,
but with laborious and painful effort we shall
work our way back 20 that money standard
which will insure stability and confidence az
home and enable us Z trade with the nations
of the world equal terms.
1t Is not my habit to boast Of "A warm heart
for the poor and suffering. But my sympathy
Is no less sincere because | do not carry my
love and solicitude for the common people
constantly at my tongues end. II there he
those who are satisfied with everything that
exists, l am not one Of them. There are few, II
any, who abhor that which may properly be
called plutocracy detcst the arrogance OF
wealth more heartily than do. know, also,
that the industrial developments of our time
have brought hardship % some classes Of peo-
pie which only the more sagacious, active and
energetic among them have been able TO
| CDuutcrbaluuce urOftably with its bonofi Is.