Crawford avalanche. (Grayling, Mich.) 1879-19??, 1896-08-06

handle the wealth after 1t Is created,
the bankers for instance. Now, what
Is the real situation In Rockford The
number of bankers In that city Ia, alto
gether, thirteen. and the total amount of
capital which these thirteen bankers have
Is $4,000 The total amount Of de-
posits in their banks is $1,000. 900. So
that these thirteen bankers, with total
paying capacity of but $375,Q00, are
entrusted with $3,400 900 of other peo-
pies money with which to do business
in any manner they choose. Upon its
face, II would seem that any number of
men who have total paying CAPACITY Of
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 $3,400,000.
Who are the people who have entrusted
this thirteen with SO large a sum Of
ing capacity? They number $500 In
that city of total population of 100000
In this case. therefore, who are the
debtors? They are undoubtedly the
bankers. These. thirteen men owe these
$500 depositors So 100000.
Now, II 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. II
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 be
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
Ford hat l&L IL
OF per cent. on the dollar If the coinage
OF free silver at 16 to were made legal,
by paying their depositors who have de-
posted gold at 81 to l with them in
silver at but 16 to 1, none of the bank
ers of the City of Rockford, and but
very few of the bankers in the United
states, who would have so much to
gam by the adoption of this free silver
lunacy, have advocated this policy,
which would enable them at one stroke
TO clear so much money.
Ihis brief statement makes il plain
that all the utilization 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 a
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 bust
ness and upon the borrowing of which
| most OF the manufacturing and produce
ton 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
/ a haf ba al
ton 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 Populsts won't
accomplish free silver?
Well, there are in the United States
10000 depositors in the savings institu-
tions of the country, and they own de-
posts amounting to about $4,000, 0O0, 900.
If all the people in the United States
who can vote, should vote, the total vote
cast in a national election would be
about IL, OO0, 900; but the largest average
national vote cast is about 1000, 900;
hence, the total number of depositors in
savings institutions in this country large
ly Outnumbers any majority of votes
which has ever been cast in a national
election.
In the single state of New York there
are 100000 depositors in the savings
post 5000, 100000. In the state of New
York there are but about / 100000 vot-
ers; the number of depositors in the saw
ings banks of that state exceeds the
number of voters in that state by 0O0,-
600. These figures show the utter i'm
possibility of any such movement as the
free silver movement succeeding in this
country, because its success would in
volve the conversion of more people than
have ever voted on one side upon any
question in this country, to the abso.
lutte belief that il would pay them TO set
tie with the savings institutions in which
their money lies. at so cents on the dol
lar for every 100 cents on the dollar they
have on deposit.