Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1870-02-26

capital except in permanent business,
would hnd il nov q, desirable location.
The field for active speculation at present
is extremely barren. Loaning money on
good security and at high interest, ruinous
to the prosperity Of tho country, but prof
table 70 the money lender, is still feasible.
But il involves the probability Of trans
n,uting capital into unproductive real es-
tate. At this time real estate has. no
market value, nor cal rexts be declared an
eligible source of income. Of course tho
accumulation of lands is q safe investment,
for the owner by mere scaifing will receive
handsome interest by the steady growth
in value. The distinction however is
sought to be drawn, that at present, loans
upon mortgage, where the mortgage ex-
poets to accept the property for his loan
and interest, is not an actively rccuperat-
ing income on the money, but frequently
but conversion Of capital into real cs-
tate.
Joint stock operations, another resort
for small capitalists, are but system Of
small contributions to purse to become
ultimately absorbed by the vampire CAPT
talist who secures what is modestly called
the controlling interest, q modest legal
phrase which signifies that because you
have more than l, then am your legiti-
mate prey. In common parlance the
humble shareholder is frozen out" it be-
ing a mere question Of time how long he
may be allowed to pay assessments and hope
for dividends. ...,.... ....t 80 49,.
To parties of limited means, trading at
established settlements pays more than
living profits Farming and stock. raising
in which personal attention is the best
capital, arc sure to succeed if properly
followed. In these the country itself and
climate contribute largely. Steadily they
add to the increase and never exact inter-
est for the share performed by them. And
Jehovah's 8 ordinance which is immutable,
sending % his rain 81, the just and unjust, ~
precludcs my suit Of foreclosure to bar
the. equity TO- redeem, from the Garth the
ful6llmept of the Divine promise:, ,.;,.,,,
"While the earth remaiueth, seed time
and harvest, and cold and heat, and sum.
mer aud winter, and day and night, shall
not cease" W.. 9'l. gn sa'l .7l.Hia a
Heavy capitalists are necessary in just
such country, and for the benefits they
bring to our Territorial Development, we
may tolerate tyranny which capital
exerts. Here will be found abundant op-
portunities for action. In opening and
developing our exLaustless fields Of GOALS
in extensive numbering operations, in ship
building, in railroad operations, in woolen
manufacturing, in fisheries. How readily
thcy may convert themselves from money
changers into philanthropists, distribu-
ting their wealth by the diffusion Of hap
piucss and comfort to others, giving en-
ploymcnt to operatives, in developing the
resources Of the country, in establishing
settlements and beneftting all within the
sphere Of their operations. Such applica-
tion of capital must inevitably benefit its
posscssor by increasing the profits as we'll
as pleasure Of such Investment. For in
all such movements, the assisted become
but so many assistants Of the assister.
To this class, Puget Sound speaks loudly.
Here are all these great interests which,
called into active enjoyment, must provo
remunerative to any who undertake their
Developments. l.ss7 s,d1 aogu bsinboaeu
Contrasting our presest with the past,
I would be content with the future which
followed as the natural sequent of such
antccdeuts. But in an age tho. keynote
of which is ezcrlsior, when progress is but
"a synonym for Amerieasisation, We are
not willing thus to limit our, expectations.
We are on the eve Of change. The rail-
road 50 ardeutly longed for, is almost at
our doors The track is not laid, but it
being really thought Of, is tho predicate
that It sei4 be bxiA. Many who hear mo
will witness the change which. grows out
of tieiug us more closely to early kindred
and friends, assuring forever the osesess
Of our Beloved country. I have too long
trespassed on your time to diIate on the
result " Of q contamination 20 devoutly to
be wished." ."naHos seeaasim 10 ooaospssapa
/ Our fst.re i 6ut the elimination Of .
series of antocedents, by which We are
growing up into an American State, able
and capable to sustain American ideas and
responsibilities. Well expressed in the
charter Of our liberties, - perfect Union
insuring the blessings Of liberty to our
selves and posterity." To these shores
soon will roll the steady tide Of immigra-
ton. Oregon, California, the Atlantic
States, Europe and Australia will con.
tribute to swell the numbers to enjoy that
future Of promise, which our skies now 20
hopefully porteud. The Lake States no
longer western, yearn,fos continuity with
the Great Pacific. Twenty ysass ago. the
Pacific slope was known only ia geograph.
ic nomenclature a. the territory vest OF
the Rocky Mountaips. In that region
there are now three prosperous States Of
tho Americas Union, and Ave Territories.
The latter already number populatiea
exceeding 800, ,000, sd three Of them are
fastprepa,iag 70 east of their Isrritorial
swaddling-clothes aad b endowed with
the mantle Of statehood. Such evidences
Of progress. unknown in the worlds pre-
vious history, are but % many assurances
4 -tt.r "a - -