The daily intelligencer. [volume] (Seattle, Wash. Territory [i.e. Wash.]) 1876-1881, 1877-04-25

be was entitled TO gold Interest. Il
may hot Be plain to some As T. how
tai- ae', demone,izing silver, Expresses
tn pr. especially. A. 4 ru!r. ,hev
are raj. II silver coin for their labor.
1t they wish r purchase a barrel f
-four, q key Z sugar. a coat, or any ar
'ic.e smogutlIg ia value 20 or,r five
dollars. they have 10 lay IL gilt coin. or
- e4 ulva.cUt Tho merchant = obliged
% p4y IN g3.t coin fur his goods. ami
fecess-ty g :.p~!> him 20 demand tie
safne. CT - cgniyaic'st. Ihus. II j.
plaza that ali the pc rccBt9ge cor seQuent
ggon the act 81 our government, IN d.
'a-ir'y lis SILVER coin, comes ONT # the
predicting elias, The case IS the same
II reference 70 the policy pursued in
hiding car subsidized railroads II
tx actual cost ! faotra Lot 20 exceed
50 .~0 pr mile, II = estimated al so,
GIG. bonds are forced Oh the marke. &.
- So 81 cents on the dollar, The road
huslt. tie BOMBS have 20 he paid doll =
III dollar with accumulated interest.
and the consequence Is that the produc-
Ing class have 10 make ap the deficiency
ia hiah prissi freigits Il Is plain that
# our grand trunk railroads were built
on the lowest cash basis. that the
freight would not exceed. the half Of
what they are now
Another matter which | wish To call
the attention Of your readers to is the
effect Of the high ratt of interest OBJ
tanned III the United States. believe
i a 49,
possesses n natural pr0iuctiveneSs
superior 10 that Of any other nation
and Yet other nations are enabled 10
purchase our raw materials, turn them
iuto superior manufactured articles aud
sell them back 20 Us There must be
a cause for this, and AIN fully of the
opinion that il - traceable to oar high
rates % interest. As carly as lac,
England hal reduced her rate of in
terest on loans Ia three ~ per cent. per
annu,n, ard ever since she has been
able 10 purchase our raw materials,
transport them across the ocean, and re-
turn them In fabrics. She had learned
at that early period. that the profits
upon her manufactured productions
enriched the country much more rapidly
than the loan of money at high rate
of interest. while the cost to her labor
ing class for living WAS proportionately
reduced. This low rate of interest and
consequent cheap living, has enabled
her capital 10 enter into the nanufac
lures, mining and other enterprises
and supply our people with fabrics,
coal. iron. etc, al far less rates than we
can possibly do under our existing
monetary system.
/ have endeavored to present in a
nutshell the outlines of what believe
to be matters of the most momentous
importance to tile People of the United
States at the present time. To solve
these problems, and save our country
from the otherwise inevitable vortex
into which it is plunging, is the work
Of the people through their RepreSen-
tatives in Congress. The only feasible
solution winch can see. as one Of tie
peopis, is for our government to assume
absolute aud entire control of its
H.0ndary afdirS. make gold. silver aud
grcenbacks one. or equal in value, Ill
the sense Of their acceptability and
use in the United States, each endowed
with fail legal tender power-thereby
depriviug them o.: the nature Of
commodity for speculative purposes
and 10 make the national rate Of inter
est not - exceed three 3)per cent per
aunum This done, and we have cut
OFT speculations IN money saved the
profits accruing from the manufacture
ot our raw materials to our nation.
opened up way To pay Oft our national
debt IN the money 1t promised, and
furnish to the people a liberal supply
ri money az IL reasonable rate of in
terest. A generous supply of
money to a people stimulates them into
activity. and activity means increased
! enterprises. and increased enterprise
means competition, and competition
means production at the lowest living
rates, aud production at the lowest liy-
ing rates, means q fair fight to supply
the world, just as Eng land has been
doing by furnishing to Ter producing
classes, money ut three per cent per an
mum for more than q hundred years,
and grown 10 be the greatest manuiac-
turing nation on the globe
NJ s. BooTH