Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1877-10-20

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a inh.Fest b dad TIE dseliss Il rates
b as general q the wess e. ksre. Ten
per cent can no l0nger be obtained in
Chicago. Eighg and nine are eagerly &C
cepted by the lenders. Speculation il
Improbable; kite flying has few dew
otees.
The truth 10 that the existence of album
dance Of home capital adequate for all
legitimate purposes has been fully estab-
lished and recognized. Our country ia
taking one great step toward emancipa-
ton from the dangers of periodical crashes
and panics. Excessive rates Of interest
ate up the profits ofregular business, and
forced an unnatural struggle to secure
trade beyond the bounds of prudence or
safety. 1t has been fully demonstrated
that sound and reliable traffic cannot af-
ford to pay such rates, and that money
lenders must be content with more mod
crate rates in order to keep business with
in safe limits. The very numerous bank
failures that have been occurring have
arisen from total disregard of this les
son, and it is now morally certain that
these failures must go on unless the fiscal
institutions learn wisdom at once.
The States and cities should all follow
the example of the national government
and gradually reduce the interest on their
debts by the funding process. North
dmerScan.
IS A STRANGE INVITATION. - William
Lungley, desperate from Texas, was
recently arrested on a requisition from
the Governor of that State in De Soto
Parish, Louisiana. The Shreveport (La)
Times says:
Langley, after being well secured, said
he might as we'll make clean breast of
it, as it would be the last of him when
he reached Texas, and confessed to the
killing of fhirty-two men, and said that
he came near killing man two days be-
fore his arrest and wished he had done
it, as it would have saved him from being
captured. During his residence in De
Soto Parish he conducted himself in
most quiet and gentlemsnly manner, and
none of his neighbors for moment sus-
pected him of being the bloodthirsty
villain that be is. After Lungley's de-
livery to the Texan Sheriff he invited Mr..
Courtney and his posse to come and see
him hanged.