Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1865-02-25
SATURDAY MORNING, FEB. =. isa.
How the National Crrreaey Vas Repaid.
ated On this Coast.

ated o. this Coast.
I, viii ts remembered TIA; ve have on
frequent occasions during ,hs pas, three years.
shown that the objects aad practices Of the
:.,oneyed classes ON this COST were in direct
conhic, with the policy Of the Governmen, as
manifested by the making O. Treasury notes a
legal tender in the payment Of debts. This
We believe to have been selfevident. although
we Go not know Of single paper on the coast,
except the s. +. Journal and our own, which
has condemned the position assumed by the
wholesale importers. brokers and other CAPT
,alists in San Francisco aided and allotted by
secession sympathizers, who desired no better
or more effective oportun''y Of serving their
masters in Dixie, or one more congenial TO
their nature. We stated this as the cause
which led tv the adoption Of tho Specific Con-
tract Law, and in the language of our cotem-
porary, ",he practical exclusion Of greenbacks
as currency from this coast" Oregon and
Idaho have followed in the wake of Calfor-
mia, and their conduct has been excused by a
few intensely loyal men, whose pecuniary inter-
,ss were advanced thereby, upon the plea
that this combination Of brokers and and inn
porters was "too powerful to be resisted"
The result has been the virtual enhancement
of Capital. and the establishment OF its rule
over the better judgment Of men. Law must
give way to this potent monarch. and our elm.
barrassed and distressed country be awed by
the sway Of this golden scepter. Thank
Heaven the stain has not yet been affixed to
our Territory, and God grant that it may
never b.
As showing the base subterfuges rcso,ted to
BY this clan who speculate off their coun-
try's misfortunes, we make the following cop
ious extracts from an article in late number
of the Oregon Statesman. That paper, We
have always inferred, has been opposed to the
Modification Specific Contract Law but mas
much as it has found its way upon the stat
ute. book, counsels obedience to it's provisions.
The Statesman says:
From the beginning Of the war certain
class or interest upon this coast has persist
emily clamored about high prices in the East,
it. being understood of course this outcry. so
far as believed, gave countenance to high
prices ON this coast Of articles imported from
tue East. In whatever shape. and from what
ever source this cry came, it aimed at one OBJ
isct and that was the practical exclusion Of
greenbacks from this coast as currency.
Thereby importers would be able to sell here
for gold what they bought in New York for
greeubacks and pocket the premium on gold,
in addition to their legitimate profits. This
result it must be confessed was quite advan.
tageous to them, however much the people
who bought the goods may have suffered. and
no wonder the parties strovs hard-and per.
haps unscrupulously-to maintain their rich
advantage.
This outcry about high prices from the i'm.
porters and their dependents, had an effectual
ally in political faction, who for political pur-
poses-not trade-wishsd not only to exclude
greenbacks from this coast, but to depreciate
them generally as an nnti-war weapon. The
former class voted upon the Union ticket, hur-
rahed for Old Abe. boosted of their patriotism,
and in short were intensely loyal in everything
except their prefts on gold! The latter class
true to their political instincts. voted and
shouted as they traded-against the Govern.
ment md its currency.
We have always been Of these who were
incredulous about this cry Of high prices in
the East. We suspected there was "big
money" in it for those ~ho set il on foot and
krp, It up. and every day couvinc-s us Of the
correctness Of our impressions. It came 6rss
from the importers Of San Frsncisco and their
dependenie. These made their millions ont
oft, and in great measuss compelled Il to
b. recognized 10 Oregon and the susrosndi.g
Territories. Wbsa the gveenhaehs eaas,
these importers vese al I.seely h debt TO
shsir eorrespondenss in Nsv Yesk-assy At
then O tbs eve II baskvpsey. TS<y psid
th-ir d~hes in e.ss~sey. bsf vs, 10 H. lneki-ss
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