The sun., 1900-10-07
BRYAN AND SAVINGS BANKS
WHAT WOULD PROBABLY HAPPEN
THE NEBRAsKAN SHOULD WIN.

Anrot savings banks Dcpositors at One
Panic would Probably R'sult-seeuritie
WouId Depreciase-No Doubt That tn
Paramount Issue for Every Person VINE
Has savings in a Hank Is free sh'er
large percentage Of the voters OF thi'
country arc dcrostors In savings banks, Prob
ably 20 rcr cent. OF those voters that are moi
dsno,itors in such banks hnve wives or sons
or daughters who are depositors. As rule
tbc money In institutions for savings In this OF
sny other country II the concrete result OF the
toll and self sacrifice of the poor and OF those
vbo are only moderately wel-to-do. The
money OF PEOPLE Of large wealth seldom nnds
~ N,v into the savings bank. Therefore
ANYTHING which affects the wel-beng OF an
institution for savings affects hundreds of
rersors Who can III afford 20 lose or have de-
rrcca,rd that which thev have been able to
,o, arart from the cost Of existence II follows.
therefore. that every voter who Il directly or
indirectly Interested IN n savings bank deposit
anywherein this broad land should beinterested
IN the result of the election next month
Many OF this grade Of the electorate seem TO
have prorer conception Of just how the cleo
tioD ~ Mr. Bryan will affect them as savings
bnnk deposltors II Is feared, however. by
soue or the Presidents Of these Institutions that
many others of their depostors are not fully alive
10 the personal losses which they will sustain
by the election Of MIR. Bryan, II Is not an
unusual thing for the officers Of institutions for
saynRs 70 take lively interest In what con-
Germs the well being Of their depostors, for, as
a matter Of fact, tho depostors are their EN-
rlovers IL is well known fact but one not
slvavs remembered that the officers OF saw
ings banks are simply trustees Of the money
put into tho banks by the depostors. They
are bound 10 invest this money 10 the best
possible advantage and the securities OF these
Investments are tho Joint property OF every
depottor Accordingly. anything that Affects
the value OF the securities Of a savings bank.
sfects every depositor Of that bank.
fthere be any voter in this or any other town
with an account in a savings bank who has
allowed his interest in tho outcome Of the cam
psign 10 lapse, or who doesn't fully realize
what the effect Of Bryans election upon saw
ines banks will be. It may be we'll to recall to
him that there Is not savings bank President
In tho city OF New York. and there are several
Democrats among them. who did not come
out strongly in opposition to the election Of
BRYAN in 1895, and who has OF redeclared
that opposition this year II the depositors
in the savings banks Of this city az the Presi-
dent Of ono OF them said yesterday. have con-
ndence enough In the Officers Of the banks
TO entrust their money with them. the depositors
must conclude that the Presidents OF these in
stitutions firmly believe that the election OF
Bryan would be a serious menace TO the sta
biIty OF the banks they manage. or they would
not to the last man OF them. hav come out so
strongly for Mckinley
The reason for the attitude Of the heads
of the New York savings banks and some OF
the reasons why no savings bank depositors
can afford 70 vote for Bryan, were stated very
clearly TO SUN reporter yesterday afternoon
10y Mr. Andrew Mills. President OF the Dry
Dock Savings Institution. and also President
Of the Savings Bank Association OF the State
Of New York
L am not an alarrnist- said Mr.. Mills. -and
] do not believe IN needless apprehension.
Indeed. / am not one OF those who believes
that this country will go to the demnltion bow
vows should Bryan be elected Neither do
believe that all the savings banks In this coun-
try would have 10 close their doors II Mckinley
should bo defeated But know that few things
could happen to so seriously and. In some cases
so disastrously affect the men and women OF
this country. who have been able TO save enough
money TO open accounts In the savings banks
rs the election OF william j. Bryan And II
Is not dlficult TO tell why this must be so It
IL not n question OF may, DuI question OF
In the first place. let us look for a moment
al the savings bank situation In this State for
tho seven years beginning Jan. l. 1898. and
ending Jan. /. 1900. The period from 1899 to
1890 covered the second Cleveland Admnistra-
ton. On Jan. /. 1903. the total dep osits in the
savings banks Of this state amounted 10 .e2e -
2is on Jan. /, 1898. the total deposits
amounted 70 sool, 7si, sos. making an increase
for the three years Of t62 4o8, 200. The period
from Jan. l. 1897. TO Jan. /. 1907, covered
the Mckinley Administration. On Jan. /,
1897 the total deposits in the savings banks
Of this State were Sis l7o. sse. On Jan. l. 1900
the total deposits amounted to tss7, $50. $50.
making the unprecedented increase Of sle9,-
so3 79i Such an increase for similar period
was never before known in our history.
Vow let US look for a moment at the in
crease In savings bank accounts from Jan. /.
1897 70 Jan. /, 1901. ! am particular TO speak
now ~ the number Of accounts rather than
the number Of depositors because some one
might say. with truth. that one depositor might
have an account in several banks, II spoke
OF the number Of depositors. on Jan. l. 1897
there were 7S6. 900 accounts In the savings
banks OF the State OF New York On Jan. I,
1900 there were / i.9s 900 Of those accounts
and on the lst OF last July there were over
10000 Now word about the persons who
have started these accounts. My observa-
tion in our own bank and reports that have
oome 20 me from other banks In the city and
throughout the State show that the persons
In whose names these accounts have been
opened, are persons who have been able TO get
something ahead because Of the increased op-
portunities for work at excellent or high wages
History repeats itself Mr.. Bryan stands
irrevocably for the free coinage OF silver at
the ratio Of 10 to and for n remodelling OF the
tariff Mr.. Cleveland stood for tariff reform and
during his second term allowed 10 become
law without his Signature what was called
free trade tariff bill. As soon as il became
known that such a measure would pass Con-
gress persons In business either on n large
or a small scale. became apprchensive OF what
the situation would he in the business world
under the new tarr and they planned for erner-
gcnces as well as they could. What they
could do wasn't much. however. and we had
an unstable condition for a long time That
unstable condition was followed. as every body
remembers. by long pc: .od OF depression
and hard times.
Uile It is true that the deposits in savings
banks increased during the Cleveland admin
t,,