Rensselaer Semi-Weekly Republican, Volume 41, Number 9, Rensselaer, Jasper County, 9 October 1908 — GROWTH OF WELTH PER CAPITA [ARTICLE]

GROWTH OF WELTH PER CAPITA

Deetrine that the Poor Are GfoWi** Poorer Shown to Be False. (From the Los Angele* Times.) In 1820 the savings banks of the United States held $1,138,576. This was a poor country then compared with now. The amount was only an average of 12 cents for the population of that time. That amount of average economy was very small. Now the people of this country have $3,690,878,945 in savings banka This 1* an average for the whole population of this time of over $42. The actual depositors have an average of $429 to their, credit. In 1820 only 8.885 persons to the country were rich enough so have a savings bank account Now there are 8,588,811. When James Buchanan, th* last Democratic President In a long line, went into office, there was about SIOO,000,000 in the savings banks *f the United State*. By 1870, after fighting out the great war, the people, under Republican rule for twenty years, bad $550,000,000 in the savings banka. When the next Democrat!? President took hl* seat in 1883, the savings of the people had pasaed the billion point By ISM the savings had doubled again. 86 there it is. In 1820 there were only abbot 8,000 people rich enough to have a UtlfigS bank account Now there are over 8,000.000. In 1820 the savings were 12 cents pet capita; now they are over $42. That the poor grow poorer’ ioS the rich richer In this country Is as true as any other Populistic notion.