Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1862-03-22
The Pacific Railroea.


fh. cosIr;ry. cur representatives in t.nSrs~s.
w. zrr LzI.I.v 10 I.~rrciy-, an ms, ovoris-,kIng
III. inl.r.--- e his c"a-, in the matter of the
L,ss--el,. riSh.d Pacifc Esilroad prgsci. The
-ui,l,-i Wa again hrOugisi up Tcos'niiv. and
IT. Is.c.---iiv to the welfare oi the N olr oOan-
try -lsa%A ia a v.ry i.acible Iaznncr. ~
luI. - ib- rad l. considered msrsiy fdnoT
90 California it 10 a"uitiul ~h-ihsr We shall
s.f IL. A. ~s-sn The country comes thor
Ou-hlv 70 understand that the vital Interests
If ~, .iissi de.sasd ;ls; i.se read sh,s;sll IL
built aid tia; sprrdi!y. Ne may hop to soe
the WofA ct,iIm' uc'd.
The in.,.uTtauc. # the gid rliars # this
coa>; ;n tie .aliilii, # the ni"n can no Ion
or H. a qurs,ion. Without this RESOURCE. in
y la. condition would !hc cGuuiry have bo,n
To prosecute The present war Whence could
have bc,n drawn the immense amount of
available wealth required TO carry it on. even
thus tar! Within the past twelve wears. the
stimulus given TO industry throughout the
whole Mon by the product Of our mines has
created vast proportion of the wealth on
which the credit of the Government is now
based. and which now enables it to trust to
the people for financial support. And shall
the continued possession of territorial domain
so valuable be hazardcd by longer delaying
closer connection with the rest Of the Union
In the event of foreign war, by what uncer-
tain tenure would California, Oregon and
Washington be held, in the absence of an
iron highway connecting the Atlantic with the
Pacific
The sooner the country is. taught that self
interest dictates the speedy construction of the
A. Al. H.
cease to ask it as favor, but demand it as a
right, not only in our own behalf, but in that
of the Union, of which we form so important
n part.
We are apt to talk of the great benefits we
derive from the common Government and our
connection with the other States, but we are
too apt to overlook the fact that benefits from
the connection are at least mutual. We might
perhaps go farther, and say with truth, that
the balance of such benefits is on the other
side of the ledger, and that We have all along
paid, and continue to pay. more to the rest of
the country for its tavors than we receive in
the way OF tavors conferred on U.s. OF course
this view Of the question is from financial
stand point, which, just now at least, is one Of
some Importance.
In money alone we have contributed to the
cxchequrr of the world some six or seven hun
drud millions of dollars in the last dozen years.
The Atlantic portion of our own country has
absorbed much of this and its presence has
been the liic-spring of the rapid progress the
seaboard and middle States have made within
the period named. And what have We re-
| ceived in return! a few millions from the
public treasury for harbor and coast dcfenccs,
and a vast amount of merchandise purchased
at prices enhanced by tho presence Of our
gold. In the latter respect, we have afforded
the means of our wrong. Our gold has built
up banks, banks have expanded credit, credit
has inflated prices. and we have paid those
prices in cash, (not in credit money! thus con-
tinually minisering to the increase of the evil.
Besides this, California has contributed vastly
to the East in the way of private bounty, as
every banker and dealer in exchange could
vouch, did they permit themselves to make
record of the sums which they know to be
constantly passing through their hands for
such purposes. Millions annually thus go
Eastward, and perhaps other millions, of which
there is no record whatever, 60 in private
hands, for which there is no return, even in
the form of merchandise.
| But that there is cash balance constantly
accrling in our favor may require some fur
| thcr elucidation, and this can be arrived at
best by striking balance Of approximate deb
it and credit.
The aggregate value Of merchandise brought
to this port annually has been matter Of
much conjecture. in consequence Of the fact
that so large proportion Of it, coming from
domestic Atlantic ports, is icct to no duty.
and is but impericctly entered at the Custom
House. !, is common method to measure
this value by that of our combined exports Of
merchandise and the precious metals but We
have long felt satisfied that this was a falla-
cious standard in attempting to approximate
to the truth in the premises. To those who
will carefully investigate the subject. We think
j, viii appear that the account cannot be
squared by such process. and that the annual
balance is widely in cur favor. In other
words that we arr sending out cf the country
each year a far greater amount Of hard money
than the merchandise Ne derive from abroad
can he made to represent Ii this view be
cogrcc: one. the r,st of the world is constantly
becoming mor. deeply cur debtor.
We base nothing. in the calculation we pro-
poee 10 subu il. on the fact heretofore advert
I'd to. that merchandise imported by us. or
sent kiiher for . market, bears q fictitious
price far gr-aier than ito absolute value based
an the standard of gold. We waive the fact
that We buy abroad at prices based On a cur
rrncy no, equal in value To gold. OF that goods
FIR this market are often invoiced much above
~ha, they could be purchased for. at other
markets tor cash. especially hard cash. We
will assume that they are invoierd at moneys
worth, and tina, the exchange between our
gold and goods purchased for what has been
rightly sa.l.i .credit money" il . fair one.