The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1900-09-26

WEDNESDAY. SEPT, 26, 1900.
PROTECT SAVINGS.
EMAIL oEPOsIToRS ARE REALLY CAP
lTALlSTS.
Disaster That Would Accrue ia
Them From IA silver Standard.
Mortgages Would BE Called

Disaster That Would Accrue ia
Them From silver Standard
Mortgages Would BE Called.
The actual status Of the savings
bank depositor has never been explain
ed better than by Mr.. John Harsen
Rhodes, president of the Greenwich
Savings bank Of New York city, In
recent communication to the New York
Press. Mr. Rhodes says:
"A man who hus II deposit In a saw
ings bank Is member of the most
colossal syndicate In this country. He
is directly and vitality Interested In
maintaining sound currency and the
standard Of value which now prevails,
for deprecated currency means that
his money Will not earn the interest
1t now brings and that his savings Will
not have the purchasing power that
they now have.
Any man who has one dollar or
more deposited In a savings bank Is
bound by every selfish interest to want
sound and stable currency and no
change in our monetary system such
as proposed by Mr.. Bryan.
A Depositor IA Capitalist.
"A deposltor In II savings bank is not
only IA capitalist; he Is conservative
Investor, and his loans are relied upon
to carry on the operations OF the state,
the city, the county, the town, the vii
lage and the school district In which he
lives lie Is the biggest money lender
In this country. The savings of the
thrifty working classes ARE lent on
bond and mortgage In This state 10 the
extent of more than $500 900. They
are doing more than any other class
for the development of property Inter
ests. Their money Is being loaned to
the builder, and 1t may happen, and
does frequently. that the man carrying
u hod of bricks to the top of n building
Is the creditor of his employer who Is
erecting the house on money borrowed
from savings bank In which the hod
carrier has his few dollars.
Everything that tends to sound cur
rency, the maintenance of n standard
which Is not going TO affect values, is
going TO help this hod carrier. He
knows that he Is going to get his inter
est ON his deposit In gold, and he
knows what the purchasing power of
gold Is The thrifty nottingham iS
getting all there Is in 1t now when his
money is invested. II the silver stand
ard Is established, he Is getting one
half Of his present interest, with Just
one half of It's purchasing power.
Change Would lie DISASTROUS.
y disturbance In the money stand
ard would lac particularly unfortunate
and disastrous at this time, when
America has reached at last the posi-
ton of controlling the iron markets of
the world and Is fast reaching the
point where she viii control the coal
markets of the world As result our
exports are increasing enormously, and
1t Is II great thing now to keep the In
boring men employed ana to furnish
these supplies of coal aud iron to every
other country In the world. How pre-
posterous Is the proposition to upset
all this and 10 allow the foreigner to
come over here with his marks and
francs and pounds and other money to
change 1t all into silver which Ia turn
Nbull ne lt-tAtuullStu INTO pOil anu
the gold hurried bnck across the ocean
where its purchasing power Is twice as
great rs that Of the deprecated cur
rency that Mir Bryan proposes to fost
upon this nation.
Mortgages Would lie Called.
Another consideration In point IL
mentioned by Mr.. J T. Cameron In n
letter TO the Brooklyn Eagle as fol
lows: Savings bank assets are largely
In mortgages, and of these perhaps -
per cent are overdue, but which are
not disturbed SO long as the security of
the property is ample and interest paid
regularly, Yet they are subject to call
The managers of these banks owe pri
marily duty 10 their deposltors aud
that would he to call In these mort
cages and demand n payable I'm gold
clause before the time should come In
which they would have To accept silver
payment What would the debtor then
oWel ON today's commercial value of
silver II would cost him over $4,000
silver money TO liquidate n $4,000 gold
mortgage
The German Vote and Bryan.
The combined deposits of the dis