The daily intelligencer. [volume] (Seattle, Wash. Territory [i.e. Wash.]) 1876-1881, 1876-07-19

r. this cona'ry owes Gentlemen were
asking for 81 ideal unit that lad lot
existed here since 1862 Nobody has
been doing business on the gold dollar
lie continued I hold i 20 be sound
in political economy and philosophy
that il Is against our interest that any
gold should be used a. 4 circulating
medium in the couu-y until we paid
our debts What an unheard Of propo-
sitioa. that a country. burdcned with
tao billion dollars of public debt, at
tempting to Introduce machine for
efecting lis internal exchange that
would raise the burden Of such debt AZ
least 90 per cent and not only this,
bat increase also the weight of the vast
amount Of corporate. municipal, State.
county and city debts | want to
know Why the seven or eight thousand
millions Of private debts which exist in
addition 20 those Of the nation, States
and municipalities. and which were
engendered IN greenbacks, shall be ia-
creased in the interest Of creditors and
tn the ruin Of the debtors l tell YOU
il Is not the money lender that gives
prosperity to the country; it is the
active business man il is the borrow
or, the hopeful. the industrious, the
enterprising man who is always in
debt. That is the man who lends
fieetness To the wings OF commerce
that is the man who gives elasticity to
the tagging footsteps of industry II is
not the man who, instead Of inaugural
ing enterprises, sits back and lends
money, and if any legislation is to be
had it should be in favor of the masses
of the people of the country. Let a
few honest words be said for Lazarus ;
let Us not always he nodding to Dives.
We HS-ii t-"Att tHioNsiAb TINS cbu8tTy
from certain classes Whenever you pro.
pose To make money plentiful so as to
keep up prices at the range in which
+ they were when debts were contracted.
/ We hear wall lest somebody with a
fixed income is going to be hurt. We
/ have heard no words of encouragement
of defense. for tia. much larger class
/ who have neither income fixed nor I'M
+ fixed, but who have very fixed obliga-
| tions tn meet. He warned the Senate
| of the serious condition of business af-
fairs throughout the country and claim.
| ed that the means for equitable
! liquidation Is To be found in
the silver dollar. That. as previously
shown, we now have the opportunity
TO purchase silver with greeubacks,
owing TO the temporary rise in gold
and fall in silver. caused by Germany's
characterization Of silver. Now was
the propitioGs moment. which might
uever return. We needed and could
absorb just the amount of silver which
Germany has to sell. We must soon
either extend our paper currency or
| repudiate 1t. He said If we failed 10
restore the silver dollar To full legal
tender aud so neglect the mining inter-
est of the country, the mines of the
Sierra Nevadas would be closed, and if
once abandoned would never be 70.
opened Moreover, by assisting to
lower the purchasing power of silver,
I we would deny ourselves all tho pro-
/ fits IN the great Asiatic commerce We
would render almost valueless vast
| portion of our possessions stretching
| from Mexico To Alaska. Adding to
this. one-sided taxes on iron and steel
tools, chemicals. aud the numerous
other commodities employed in produc-
ton Of silver. Congress would cause
great disconient among the people Of
the Pacific Coast, and induce them to
believe they are denied that equal pro-
lection aud encouragement which they
are entitled to under the terms Of the
constitution. Said he. We have pro-
tected everything in our laws except
/ the precious metals Goldfish. shoe
/ strings and tombstoncs are protected.
hat not gold and silver. These great
metals. which differ from all other sub
stances in these most important re-
+ spects, that there is vast stock IF
I them on hand in the world stored un
4 from ages, these bases Of contracts.
/ these conservators of prices, Of rela.
tioas between capital and labor, Of
j property, of civilization these. We do
not protect at all More than thi. We
/ propose TO destroy that one of them
which We produce in the greatest
abundance and adopt the one which
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