The record-union., 1896-10-11
SILVER'S WORST VICTIMS.
How Savings Bank DepOsitors and
Insured Persons Would Suffer.

Inere are at present IN the united
States about 5,OOO,OO0 depositors in
savings banks. Their aggregate de-
posits are estimated by the best au-
thorities at 81 SOC, 100000, a sum fully
equal to the entire stock of money in
the country. These deposits are not
made payable only in gold. If we were
to pass a silver standard, to a dollar
worth only 80 cents, which would be le-
gal tender for all debts, these $1,SOO,-
100000 would shrink in night to
1854 100000. Who would lose the other
SS4G. 100000? Would they be capital
lists, money-lenders, rich bankers and
milIionaires? Not a bit Of it. They
would be the hardworking heads of
families, devoted fathers and mothers
saving for their children and their old
age, widows and orphans, and deserv-
ing and ambitious youth seeking to lay
the foundation for active and useful
lives. There would be no escape for
them from this deprivation. which in
many instances would turn a life Of
simple comfort into one of want and
misery. We have here single class of
5,OOOO0O persons who have the best of
reasons for looking upon gold as the
true money of the people.
Yet these do not greatly exceed the
holders and beneficiaries of life insur-
ance policies. There are in this coun-
try no less than 3,3S2, 900 holders of
life insurance policies and certificates,
amounting in gross to So, 463, ,OOO,OOO a
sum nearly six times the entire amount
of money in the country. These hold
ers have been paying their premiums
for years in gold or It's equivalent, ex-
pecting to have it paid back to their
families after their death, or on their
policies becoming claims. The policies
are not payable in gold alone. The
| companies and associations did not
agree to pay them in that coin only.
The annual average payment for claims
| is $4,000, coo, SO that if we pass to a
53-cent dollar this will be cut down to
S63 600. 600, and the annual loss to the
| widows and orphans of the land
| through this source will be $56, 400 600.
| In this case, also, the loss will not fall
upon the rich. 1t will fall upon the
| most helpless, and will be robbery of
the most deserving of all our citizens,
| for the man who insures his life for the
| benefit of those who are dependent
| upon him must be worthy citizen.
This is another class who have excellent
reason for looking upon gold as the true
money of the people.
Finally, there is our army of 97O,-
600 pensioners, drawing annually from
| the national treasury $14O, 600 600.
| Their pensions are not payable in gold
alone, and would be paid in silver Their
annual receipt would drop from $140,-
100000 to STA 100000, and the other
$50. 800 900 would not come out Of the
pockets of the rich. but Of the poor
veterans Of the war, who have been
| given this aid because they are sup
posed to have deserved we'll Of the ma
ton and are not able to support them
| selves. AS a greater part of the per-
| sons affected in this case are voters IT
| is interesting to see how they are dis
tributed in the country and how the
| loss will fall upon the different States.
In Ohio there are 105. 160 Of them, and
| their total loss would be over $7,719,-
COO In Indiana there are 90, $50 of them,
| and their loss would be nearly $1,000, :
600. In Indian there are 69, $50 of them,
and their loss would be over $1,000
600 Surely this is an aspect of free
coinage which rises above partisanship;
for, the late Congressman Harter of
Ohio said of it. the nations good faith
to it's living soldiers is not only called
| in question by it, but if it becomes a
| law the widows and orphans of the ma
| tons dead win be robbed by the laws of
| the land they died to save. This is a
third class. then, who have excellent
| reasons for looking upon gold as the
true money Of the people.-Tne Century
| for October