Gloucester County Democrat. (Woodbury, N.J.) 1878-1932, 1900-09-06
An Object Lesson.

The fate of the Merchants and Mechan-
;cs' Saving Fund and Building Association
f Bridgeton furnishes an object lesson
which we respectfully invite our Republi-
san contempories TO discuss.
For several years they have been per-
petually Boosting of the unprecedented
prosperity Of the city and county generally,
while at the same time the masses of people
lave been struggling for bare subsistence
md in vain efforts to maintain their homes,
however humble they have been.
The facts now presented before US clearly
show that our Republican friends have
5een either deplorably ignorant of the true
condition Of affairs or have had shameful
md inexeusable disregard for the truth
Che present condition of the above named
Association clearly proves this, and there
are none who can tell what the losses may
De or who, of the many, or to what extent,
they may suffer thereby.
It is no fault Of the Directors of the
Association that such conditions exist
During its earlier years it was forseen the
present depreciation of values Of all kinds
II real estate. Who could have foretold
5hat the immense property Of the old
Cumberland Nail and Iron Company would
become so nearly without value as it is to-
lay, and who could possibly have imagined
% great depreciation in values Of homes
IA our city and Of farms throughout the
country as at present exist?
Yet these depreciations have imper-
septibly, but gradually and surely come,
nd thereby the brightest and most far
eeing among our business men, as we'll as
The masses OF our people, have been de-
;eiyed. Unfortunately the consequent
losses have fallen, and are falling, upon
these least able to bear them.
Many Of the investments Of the Associa-
ion which were deemed safe at the time,
have thus become sadly impaired Many
g the debtors long struggled against hope
until finally, from lack Of employment and
other causes, they could no longer provide
or their families, and keep their dues and
interest paid, and at last from the very
.orce of circumstances they were obliged to
ease the struggle and surrender the savings
If their lives
In 50 doing, the result was that the
Directors Of the Association felt that the
interests OF all concerned would be best
-erved by having its affairs wound up, and
0 this end receiver was asked for. The
inal result will be that many properties
will be forced upon the market We can
,niy hope that no one will suffer severe
oss. and that business generally Will not
suffer to any considerable extent thereby.
Meanwhile we see many Of the great
trust magnates greatly profiting by the
widespread depression, for which they are
argely responsible. We see the Rockafellers
IF the oil trust, profiting far more each year
county Of Cumberland are worth.
We see the chief manager OF the tin plate
rust, one Of the infant industries so
literally protected, paying 81, 1000, 900 to
his wife for the privilege Of being divorced,
and bestowing half million more upon
the woman he is to take in her stead. Such
men, and there are hordes Of them in the
country, are prosperous and are rolling up
fabulous wealth because the general govern
ment had made it possible for them 50 to
do, regardless Of the masses who toll and
strive, and are indirectly, but as surely,
robbed from day to day and year to year, in
order that the comparatively few may be
made richer and yet richer.
1t is simply an insult, yea, far worse than
insult to the intelligence Of the masses Of
people who thus suffer for cur Republican
contemporaries to continuously pirate of
unprecedented prosperity when, as they
well know, and as everybody else, Of
ordinary intelligence well knows, that
never before in the history Of our city and
county, as well as country generally, was
there such widespread suffering as now
from general business depression and conse-
quent depreciation Of values Of properties Of
all kinds.