The Coconino weekly sun., 1896-08-13

handle the wealth after 1t iS created, l the bankers, for instance. Now, what | is the real situation in Rockford? The number of bankers in that city Is, alto gether, thirteen. and the total amount of capital which these thirteen bankers have | is $375,0O0. The total amount of de. i posits m their banks is s, 3,4OO,O 900. So that these thirteen bankers. with total paying capacity of but $315,OOO, are entrusted with $3,4OO,0O0 of other pe0- ple's money with which to do business in any manner they choose. Upon its face, it would seem that any number of men who have total paying capacity of but S315,OOO must be of great integrity, | uprightness and reliability to be entrust- ed by the very people with whom they live and do business with whom they their paying capacity, or $3,4OO.OOO: Who are the people who have entrusted money, so much in excess of their pay ing capacity? They number $500 in that city of total population of 30,000. In this case. therefore, who are the debtors? They are undoubtedly the bankers. These thirteen men owe these $500 depOsitOrs s, 100000.
 Now, if all that has been said about the rapacity of the creditor class be true, | think of the situation in which these de- positors have these poor bankers. If all that has been said about the poverty, | the wretchedness and the enslaved con- | dition of the debtor class be true, think of the miserable plight of these poor | bankers.
 What is true in Rockford must bs true of the whole country. The real debtors of the country are bankers, and the real creditors of the country are the depositors, and it is to the credit of the bankers of the United States,
 as it is to the credit of the bankers of
 Rockford, that although they could net 50 per cent. on the dollar if the coinage of free silver at Is to were made legal,
 by paying their depositors who have de posted gold at g to l with them in
 silver at but 16 to 1, none of the bank CTS of the City of Rockford, and but
 very few of the bankers in the United
 States, who would have so much to
 gain by the adoption of this free silver
 lunacy, have advocated this policy,
 which would enable them at one stroke
 to clear so much money.
 This brief statement makes it plain
 that all the yilification which has been
 bestowed by Populist orators and news
 papers upon the creditor class of the
 United States has been emitted because
 of totally false misapprehension as to
 who the creditors are, and it is but .
 sample of the profound ignorance under
 lying the whole free silver agitation that
 they have undertaken to describe as
 vampires, blood suckers. Shylocks, etc..
 the great producing classes of this coun-
 try who are its real creditors and who
 own all the money deposited in the
 banks and upon which bankers do busi-
 ness and upon the borrowing of which
 most of the manufacturing and produc-
 tiOn of this country is carried on. So
 that the Populists of this country who
 have been claiming to be the friends of the people, have been denouncing them upon the suppositon that the denuncia.
 tiOn has been describing the bankers: whereas, the real truth is, the bankers , are the debtors and the depositors are
 the creditors.
 According to that the Populists won't , accomplish free silver?
 Well. there are in the United States
 100000 depositors in the savings institu.
 posits amounting to about $5,OOO, 900 900 If all the people in the United Statei
 who can vote, should vote, the total vote cast in national election would b< about IA 100000; but the largest average 2 national vote cast is about 100000 Q hence, the total number of depositors ir , savings institutions in this country large ly outnumbers any majority of votea , which has ever been cast in national F election.
 In the single state of New York thers '- are 100000 depositors in the savingI
 banks of that state. They have on de Q posit $600,000,000. In the state of New
 York there are but about ], 100000 vot CTS; the number of depositors in the say s ings banks of that state exceeds tht 2 number of voters in that state by 300,
 GOO. These figures show the utter i'm | possibility of any such movement as thu
 free silver movement succeeding in thii s country, because its success would in volve the conversion of more people tha, have ever voted on one side upon an! n question in this country, to the absO l. lute belief that it would pay them to set
 tie with the savings institutions in whicl d their money lies, at 50 cents on the dol l. lar for every 100 cents on the dollar the, have on deposit.