Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1878-06-29

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pies of political eeaBomy ~ere morv os
/ ie.s nnderssced- That old and pcrverss
conf1sis a b~s seen the wealth Of the M
ti.a and the Cash or credit which repre-
scsis the ns,ica'. wealth 10 apparently in
cursble, and whenever people want ex-
penditure the confession is used to justify
IL, In the teeth IL logic. II Is like the
notion that exports ought to exceed i'm
ports-an impOssioility, unless exports
are given awsy-which is exposed about
once year, and believed for generations
all the same. II Mrs. Smith buys a silk
dress for el0 and burns it, MIR. Smith
comprehcnds that the country as we'll AS
himself has lost a piece OF silk, even
though his fl0 has been paid to the
mercer; but If the War Secretary spends
. million on war preparations-that is,
on materials to be destroyed Or employed
unproductively - Smith says the con.
tractors have the money. So has the
mercer, but where is the wealth-the
thing of use and value, which that money
only represented 1t is burnt. 1t may
we'll he worth while for an adequate pur.
pose to spend el,00) on u wood-and-taI
beacon ard bum it, but when the beacon
is burnt there is SD much less tar and
wood, aud the country is tho poorer
though it was all honestly paid for. The
material and the labor expended are all
gone into smoke, and nothing remains Of
them. The money does7 Not bit Of
it; the money which was in the tax
payers pocket is in the beacon builder.
pocket; and the country is neither the
richer nor the poorer for the transfer
but the labor, and the wood, and The
pinej uice--the things Of real value
which tho money only represented-ar are
gone forever.-7hs Spectator.