The daily intelligencer. [volume] (Seattle, Wash. Territory [i.e. Wash.]) 1876-1881, 1877-05-09
rur WEEKLY rxrgIlsscNCsp.
VISIONARY THEORIES.

The Golden Gate Grange. Oh Cslifor
MIA. recently held a meeting in San
Franciseo ., which they grapplsd with
the knotsy problem of Finance a. Re-
lAting to Political ECONOMY" ard elu-
cidascd their views anent In th" effect
that "neither gold. silver. nor n.,ionsl
credit in the Commercial sense 10 the
true basis o. currency. but national
faith. that ''the true basis is demand"
and that bureau of finance should be
established by the government. which
should issue currency To the people IN
their securit,es" ---mesning by securities.
bonds. bullion and real estate,--at ar
annual rate 81 interest not Ia exceed
four per cca,.
Some .ound views were expressed, as
By Mr.. Fitch. that "silver. as money,
must be equal tn gold, according To the
cumulative relation which the govern
ment sha'i fix upon it Its standard in
relation to gold must be determined and
madc reli.ble The coinage of gold
must be made to oil the msa.ur. nf val
ae represented 10y the Other. and each
must be held th. absolute equivalent OF
the other in monetary use" Also. by
Mr.. Mason. tina. experimenting with
the national currency i. dangerous and
unsettiing;" but that money should
not appreciate. but bc as steady ~ pos
sible."
This is very well in is way. but how
abou, the opposite evil. that money
should depreciatc. The purport Of the
measure advocated ia to annihilate the
monetary interest as . private and indie
pendent branch of bushes and To have
il merged in the functions Of the gov
ernment.
The tendency certainly is towards
GENERALIZATION and consolidation under
the government 1t would be difficult
10 determine in advance whether it
would or would not be an advantage TO
the people. on general principles, to
have the entire financial system. and
the railroad syssem, the educational
system aud such other unive:s inter
ests placed under the direct control Of
the government. the Same ~ ths postal
system now is. 1t would certainly tend
toward increased uniformity, regularity
and more equitable distribution Of BEN
efiss. For example, without the postal
system Washington Territory eouli not
get letters from any part Of the Union
for three cents and more bulky matter
at still lower rate Washington Ter
ritory demands railroad connection
with the rest Of the continent. She is
entitled TO supply Of capital adequate
to the improvement Of her resources
She demands educational facilities for
her children equal to those enjoyed in
other States Ii there ware a uniform
aud complete system Of finance. rail
roads and universities. entirely under
tho auspices OF the government the
came a. the postctsicc. we would &c. the
rights in these regards 10 which We are
entitled CA the basis Of our common
humanity and citizenship,
Nevertheless, there is philosophical
objection To such plan. that it would
render the already complicated ma
chinery of the government, far too cum
brous aud unwieldy. resulting in max
ing il centralized engine Of such enor-
NOUS aud absolute power aud patronage
as to possess a complete immunity of
oppression and corruption. II may
hereafter be found necessary 10 strip
the government Of some Of It's offices
instead of increasing their number.
Though popular education is the grand
regulator 20 the political machinery
which may be relied CA TO preserve the
harmony eft its working even with in-
crease Of its power,
The most practical difficulty in the
way Of the proposed plan 10 the unset
ting effect il would have ON all values.
and the inex,ricabie confusion into
which all commercial matters might I've
thrown by it. !, would he difficult to
trace ca. In fall the effects that ~oald
ee produced. hy enabling any and every
person in the nation - draw on the
treasury for legal tender notes, At an
annual interest charge Of three os fear
per cent TO the extent ret eniy of his
gold. silver ar bonis given ia pledge.
bat alsn on mortgage Of his real es-
tate az nas h.ls its rcpusss! value,
II i. easily aud surely iemons,rable
ba,a by reasoning aud the resalts Of
past financial experimenting that the
fruits 81 such a ssstem would Gully To-
esil. Exsravassnoe, ,a!eness. psSsii'
gssity. would for q isu.e he neur,shsi
sa'e Ti'';oas lasgF'snce. on 'hs strength
1T slse easy supply Il cheap mcney
stietsssoasls regarded - real wealth
which IL j. nos ia fact. 10 ls fellow al
al length hs q sad xil~eneAaan smrs,s and