The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-10-06

by wedding itself to unsound and destruc-
i've doctrines, has so completely elinl-
mated all employers of labor from its
councils, and made impossible their SUM-
port of its candidates. is not to be trusted
with the power to legislate for either Ia
Dor or capital.
But there IS another phase of this ques-
tion which we cannot overlook If Mr.
Bryan stands for any one thing more
thah anolhef II Is In his anita gonism to ali
forms, of aggregated wealth. If he is to
De believed the country is menaced by
the fact that each returning year shows
the American people to have acrunl,Iated
greater wealth. He selcts above all else,
the bank, as the institution which threat
ems most and the banker as finding his
source of employment in enriching him
self at the expense of distressing pow
erty to MS ieloNS. may be pardoned,
II in discussing this phase of Mr.. Bryan's
Indictment against what he terms trusts
l speak with at least as much practical
KNOWLEDGE and experience as he does.
| submit. without fear of successful
contradiction. that a bank whether it
be a national state or private one, prop
erly conducted and honestly managed. in
stead of being cause of :letrin,o,,f tn any
community orr harmful 10 any interest.
public or private, IS a source of strength
and benefit. T ailege further that no
one Is more benefited by suck Institutions
than labor. Over and tevGnI the fsi-
unctfVe feature Of the good of savings
departments, providing safe and profita-
Die place for labop's earnings, rests the
X.
in gathering to itself the surplus money
of the country which would lie in Idle
ness, and directing it into proper chan
nels of trade and commerce thus making
it possible to carry on the thousand Irn
dertakings which furnish the daily wage
OF labor. 1t is the bank which furnishes
the life blood Of trade; the bank that
utiiizes for labor over and over again the
fruits Of labor; the bank that makes ac-
cumulated capital potential force in a
world wide development that each re-
NO. a4lv~ aOIrN
wonderment of its own people and the
establishment OF sister nations.
BENEFITED BY BANKS.
The laoorer ought not to lose sight of
the TACT tnat II 1t was not for the as
sistance of banks in granting to the man
process of manufacturers that wages
might be met before payment for the
finished article is received from the pur-
chaser, in almost every great INSTITUTION
operation would either be greatly re-
duced or cease altogether 1t bridges,
oyer that period essential to the laborer
2stWeen the DAY OF the raw material and,
the payment for the finished a period
when the manufacturer must of needs
have borrowed capital. Herein is the inn
portance of the commercial bank and the
necessity or 1t to the business and la
boring world. The country's faith in II
as a mighty agency for good. and the
integrity of those who have to do with
II, couid nave no stronger attestation
million depositOrs representing seven
thousand i've hundred and fourteen mil
lions OF dollars of deposits. And who
make UP the six million depositors whose
reserved capital gained from toils1me Ia
Dor is lodged in .Ssavings banks. to the
extent of two thousand four hundred and
t I'M y milli9ns Of dollars? Who but
the laboring nIang.. Within the past year
the number ofEsach depositors have in
creased four hundred and ten thousand
Whhe TO their deposits have been added
1XYn rv1f11 - ALL
In Illinois alone, there are today two
hundfed and nine thousand, as against
one hundred and sixtyfour thousand
saving bank depesitors a year since. In
the light of spchfsfact will any la boring
man believe the fnen he trusts with ali
TINS hard-earnsd wealth will pursue
course Whlch WlfEEinjure him and destroy
his savings? May more will he go OUT
against those I w5e preach moneterv
doctrine which sW6ufd diminish bv hair
that he has saIedSand defeat them at the
polls? 49, -
1 would impress%upon the laboring man
both now and ins my discussion of he
money question.*how great his interest
IS N maintaining the integrity of the
the debasement tpf the currency Of tba!
country and IN that general assault upon:
Parks Pan. Whleh' would follow the Inaugural
+ t1on OF Mr.. Bryan,s policies nowhere
would disaster fall more quickly ana
more completely than upon savings In
summons sc It is here are kept the means
LSdSl dIIOfu- TO. lose
tnelr surplus available capttaf while +Ife,
securities held bY.sthem are largely gov
ernInent and railroad Obligations the val
ue OF Wnich, under deprecated cl1rrer,
cy! would be greatly diminished Tho
tll1uf3 Qon9 70 the creditors of national
TANKS would be comparatively no great
ef lnan tnat done to those of SAYINGS
ones, though. SUCH could better stand f
{ Ano yet even In the face of this Might,
DuLueA OF responsibility which Won have
voIui5IldrIy placed upon him, Mr.. BRYAN
Eonlu44 nave the country believe that The
bunker proSpers in the distresses of fbs
People. deny the doctrine as unso,tnd
IN reason and untrue In fact. The mos
Perlty5, of the banker must afwaT1eP =, ,os+
II n 5the prosperity of the comrnunitv 49,
the nation. He cannot thrive whe11 f e1cu
tories are; idle. stores closed anf bo 81
Tuptcy everywhere IN evidence. Does IN
bryan dare assert that the hanler IL
creased his riches1in 1899 and The III
Immediately following, when fssf5s.,< I ItaS
10 De noted in every section of fhe go WaS
Try and labor everywhere idle9 Ie H.
u W Is ne mas tailed to study the statistiaS
or tnoSe DAYS, for then was demon stro 20
me economic truth of the Observation-Disclosures
reiaIons of capital and labor in nerio9s
oI depression and prosperity. -'O'
NO MONEY TRUST
There can be no money trust IN +ba
part OF the banks of this country to the
loss OF the people What has been the
result OF the multiplying of banks tbe
enlargement of banking capital. tha In
crease of available, bank deposits? W+hn
goes not know of the continued falling Of
interest rates. the wider loaning of mon
ey, the decrease of the cost of exchange