New-York tribune., 1900-11-03
SAVINGS sBANKsANDBRY AN
SUPERINTENDENT F. D. KILBURN POINTS
OUT THE DANGERS OF DEMO
CRATIC SUCCESS.


Albany, Oct IS (SpeciaD.-Frederick d. Kill
burn State Superintendent of Banking, has
prepared statement showing how depostors in
savings banks more than almost any other class
In the community vita!ly interested in the tri
umph OF sound money and sound business prin-
ciples ct the polls next month. His figures and
comparisons show that the fluctuations OF de-
posits during a period of fifteen years record
with great accuracy and sensitiveness the Pc
RODS OF prosperity and depression through the
succeeding administrations OF Cleveland, Har
rison Cleveland and Mckinley. He points out
with ciearness the reasons for these changes
and the nature of them, and warns the depos-
itors of the losses which they would surely incur
If Bryan should be elected, not only from bust
ness depression and the consequent loss of en-
ployment. but also from the loss in value of
present deposits. through the cheapening OF the
dollar, which would inevitably follow the adop
ton of the Bryanistic policy Of free silver coin
age. Mr. Kilburn is emnently fitted to speak
with authority the subject as he is prac-
tical banker himself. and has been the head Of
the Banking Department of the Empire State
through the administrations of both Governors
Black and Roosevelt The statement follows:
No better index to the countrys prosperity
business depression be had than the statistics
furnished by savings banks. While they may
not mark with exactness the percentage of indus
they do indicate with unerring certainty in which
direction the current sets and with what force 1t
flows Logically 1t should be so, and experience
verihes this conclusion TO which logic points The
savings banks being distnctively the repositories
of the helpless and of the frugal poor the greater
portion their deposits consists of funds OF wild
ows and orphans and of the savings of wage
sarners The former DO not fuctuate largely. while
the latter variable as times are hard" or
good Therefore, the gain or loss. or the rate OF
rain in deposits reflects accurately labor's cond
ton from year year. and, since capital and labor
are nterdependent, prospering or sharing distress
together, it measures also the trend Of business
in general
A striking illustration is afforded by the figures
returned by the savings banks IN the State Of New
York for 1892 and 1898. During the former year,
which is generally regarded as one Of the most
prosperous ever known IN the United States, the
deposits increa sed, IN round numbers, $4lOoO.OOO
In 1893 the year when the last Democratic National
Administration began and labor walked the streets
In idieness and misery. only dd depostors draw
all the dividends apportioned to them, but also
S2,Z50Oo0 of their principal. Again. all commercial
and Industrial statistics unite in demonstrating
the year 1899 10 have been the greatest IN volume
o. business and manufacturing output in our his
tory, and the reports of the savings banks corre-
spond by showing the unparalleled increase in de-
posits OF over s71oOO CO., which is at the rate OF
nearly s25oOO0 for every working day in the year.
A comparison of three years under President Nc
Kinley with the four years Of President Cleve-
In latter period the savings banks deposits in
New-York increased by sss,S1s.615 average Of
So 22o4,654 a year. During the first three years
OF President McKinIey's Administration the gain
was s169 9O3, 751, OF average of s56434,5S2 per
annum. which Is more than twice and a half the
rate that obtained while Mr.. Cleveland was Presi-
dent These results become yet more impressive
II considered in connection with those shown dur
ing the Democratic Administration running from
1885 70 1889 Then the gain in desposits for four
years was only $50, 200, whereas during the
suing four years, under President Harrison they
bounded $l05 800 600 contrast by the number
of deposits carries similar significance. During
President Cleveand's first term such increase
1858; under President Harrison. 230,952; during
President Clevelands second Administration 14S64.
In three years under President Mckinley. 2 403
On July l. 1900 the total Of the savings
banks of New-York exceeded 1900 100000 and the
number of accounts was above two million! The
total gain in resources since President McKinleys
election s225 100000 and the increase
the number OF accounts nearly three hundred thou
sand. The following table shows the resources of
the State savings banks, the amount due depostors
and the number of accounts January for the
last eight years: