The Clarksburg telegram. [volume] (Clarksburg, W. Va.) 1874-1926, 1898-02-25

The number of depositors las
year was more than five millions
ana the aggregate deposits wer'
but little short of two Thousand
million dollars, about three time
the amout of our national debt
or $372.ss for each depositor
The wage Garner of the country
has not the time from his daily
work to loan his money, but in
order to get some return on the
same he deposits it with the saw
ings bank or with some financial
institution. These banks and in
stitutions IN turn invest this
money in good securities, largely
in Government bonds.
Very few bankers and capital
lists hold Government securities,
because they can make a greater
return on their money than 4 per
cent; but the wager Garner, the
man with a small capital, attend
! ing to other business. can not
manage his surplus SO as to make
as much as the interest on a Gov
eminent bond. Now, if there is
any assault on the bondholders
or anything done that will injure
them or pay them in anything
less than the best money in the
world, the bankers do not suffer
all of the injury.
Unfortunately, the votes to
sustain this resolution come from
the States where there are but
few, if any, savings banks, and
where there are but few bond
holders.
1 do not agree with the state,
ment made by the junior Senator
from Colorado (Mr. Wolcottl that
this resolution means nothing.
In one sense it is mere declara-
ton Of what the law was twenty
years ago. but if it should become
a law, its effect would be as d.
rect as a bullet in forcing upon
the country the free coinage OF
silver at the ratio Of I6 to /. II
the substance Of this resolution
could be incorporated into the
law of the land, and the Govern
ment bonds could be paid in sill
yer dollars of 4l2t grains worth
only "A cents on the dollar, as
the Democratic party so much
desires, it is easy to see how it
would operate to force the free
coinage Of silver.
According to the statement Of
the condition of the Treasury on
the Goth of January, we had on
that day standard silver dollars
in the Governmentvaults amount
ing to 1891, 1893. 305; silver bullion
1878, 1857. making 1892, al, $50,
against which there was outstand.
| ing silver certificates amounting
to 1914. 35l 1857, leaving $685..
983 available in the Treasury not
covered by silver certificates.
There was also in the Treasury
on the same date standard silver
dollars purchased under the act
of 1890, $4,558. AL, and silver bull
lion of 1890 which cost SOL, 073,
sO3.25 making a total of $105,
632, 2S0.25 against every dollar
of which there were outstanding
Treasury notes.
These figures show that there
are only about 100000 silver
dollars in the Treasury that are
not pledged to redeem outstand
ing silver certificates or Treasu
ry notes. So that if we were t.
begin to pay the interest on the
bonds in silver we would have
only sls,ooo,ooo available fol
this purpose. The interest OF
the public debt last year was
1874, 900, 900. The silver dollars
now available in the Treasury
would not pay eight months in
terest and this amount being
exhausted, where are the silver
dollars to come from to,continue
to pay the interest on the public
debt and that part of the bonds
which mature in 1907 : How
would the United States provide
silver dollars to meet the interes'
and principal on the bonds after
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