The record-union., 1896-08-24
THE ATTEMPT TO STIR UP HOS
TILTTY.

Mr.. Cochran of New York is right. Mr..
Mckinley is right when they denounce
as Infamous, unpatriotic and traitorous,
the persistent attempt of class of poll
ticians to enkindle hostility between
people of the United States who have
property possessions and those who
have not been provident, or having been
unfortunate, have no considerable
amount Of property. AS Governor Mo-
kinney well said on Tuesday 'it is
fraught with peril
Yes, this thing is one of the principal
themes upon which the Populist and
Democratic orators now dwell. They
array the provident class Of people as
the enemies of the improvident and un-
fortunate. AS Mr.. Cockran's argument
well runs the creditors of the country
are not the bankers, but the laborers;
the ability and right to save and have
property is necessary and fundamen-
tai premise to the right to labor to ac-
ouire anything, even a crust Of bread.
Strike down this right and human am
bition and incentive is gone, and we re-
turn to state of barbarism worse than
slavery.
In his cold official report to the stock
holders of the German Savings and
Loan Society of San Francisco the other
day, President Becker said that that
one savings institution has 2.420 depos-
itors, while two years ago>at the same
date it had 29.20S depositors. Their
saved up money then aggregated $780,
429. .217, while now 1t amounts to $780,
041,771 and the average to each de-
positor is 1926 Ga The limit of money
the bank will take from any one de-
positor is $4,000 ordinary and $4,000
term deposits, and it is advised that
these maximums be still further re-
auced.
Here Is a single savings institution
among many with more than 81, 900 de-
positors in a city of about $4,000 popu-
lation. AL this money, over $50 900. 900.
Is loaned or held to the order Of it's small
capitalists. OF course much Of it is out
upon mortgage, but Mr.. Becker shows
that while the whole real estate OF Cali
fornia is assessed for taxation, with i'm
rrovemsnts. at $3.50. 1877 .952., the mort
cages thereon amount to S21s, TIA, ,706,
or only one-fifth of the assessed value,
which is, as Is well understood, not level
with the real value. Mr.. Becker added:
There is not a growing State in the
Iaz1 v1r haraH hu Hahf- he
small percentage of the mortgage debt
to the total value of real estate will be
g surprise to those who have jumped
to the conclusion that the State is bank
rupt- 1t may be safely asserted that the
people of California have relatively the
smallest mortgage debt OF any State in
the Union.
Here then is creditor class. not
bankers, whose average savings de-
posted in one bank is less than 81 900
G head, and we are told that there Is an
irrepressible conflict between them and
those who have not savings to advance
tween the two that threatens to eventu-
ate in open conflict, and upon which the
political destinies and social unity Of the
Nation depend, where will these saw
ings institution depositors be found? If
as the Populists assert, there is to be a
new alignment and the people are to be
srrayed against each other In classes,
where will the provident depositors in
the savings banks. the building and loan
associations. the small debenture COM
panies and beneficiary institutions place
themselves.
The truth is that this calamity howl,
this detestable attempt to stir up strife
between the people, is worthy only Of
denunciation. The office Of true states
Ynanship, some one has said. is to pre-
vent trouble. to avoid war, to divert
conflict, TO promote harmony and pros
perity. Then every good citizen should
be as Is a statesman. These must strip
the mask az seeming from ths calamity