Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1881-04-15
A $lG,25O,OOO Loss.
pnrilanl Sianllrl.

Portland STANDARD.
How great is the Presidents vett
power was never more palpably fel
than in his recent opposition to th'
funding bill. The object Of thi
bill was to refund at 3 per cent
bonds amounting to S219, ,459, 900
which now bear 6 per cent. interest
and $4S4, ,S45, 600, on which pei
cent. is new being paid. That q 3
per cent loan would have floated is
not denied in any quarter. A simple
calculation shows that the annual
saving effected by the proposed re-
funding process would have been
S1G,3oO,570. That, in other words
is the price which the country will
have to pay for the Republican par.
tvs opposition to the refunding bill
in the interests of the National
Banks. Those institutions, the En-
anljnel solemnly AYERS, consented to
be assessed three different times to
aid the corruption fund which carried
Indiana, Connecticut and New York
for the Republicans. They have re-
ceived their reward in the shape of q
Presidential veto. They have cast
their bread on the political waters
and it has returned to them greatly
fructiiied and increased after not
many days. He must indeed be an
insensate Republican who can be-
leve that the defeat Of the hero of
Gettysburg and the triumph of Mo-
bilier Garfield were worth to the
country the large sum of sixteen and
a quarter million of dollars per an
nun for an indefinite period. The
present plethoric condition of the
money market being allowed to pass
away. an equally favorable opportun-
ity to float as per cent. loan may
never return, SO that the total loss,
first and last to the country is likely
to be incalculable.
The cost to the nation is about
SIS 900 a day-a sum nearly equal
to the Presidents yearly salary. If
this amount were saved and the in
terest re-invested as rapidly as it is
accumulated, it would within life
time suffice to pay off the National
debt.
One and q quarter million dollars
q month, if saved and applied in aid
of an interoceanic canal, would unite
the Pacific and Atlantic Oceans by
practical annihilation of three thous-
and miles of travel. In five years
the canal would be completed, and
from the hour of its completion
would be fully paid fo1, and so it
would be the free and unincumbered
property of the people. Such a ,e-
suit would change the direction of q
large portion of the worlds com
merce and add immeasurably to the
convenience and wealth of the Paci
tic Coast.
One and a quarter million dollars
per month is II vast sum, which, il
saved as it might easily have Leen
and as it would have been, if the
Democratic bill had been supported
by the Republicans, would suffice tc
SO improve the Columbia and, Mis-
sissippi rivers as to make those great
highways of commerce most efficient
competitors with the railroad monop
olies.
One and quarter million dollars
per month would give every State il
the Union free school buildings
within a very short time. There il
no end to the good things that this
large sum would accomplish for the
people.
One and a quarter million dollars
per month, or fortyfve thousand
dollars per day for every day in the
year, Sundays included, is the price
the country will pay from and after
June next for the defeat of the Dem
ocratic refund:ng bill of last session
This immense sum is virtual graf
uity to the bank monopolists, extort
ed by them as the price of their ma
terial aid ill electins Republican
President. The giving away of thi
large amount OF the peoples none.
is the last and one of the most Grim
iual in the series OF acts committed
by the Republican party to make tn
poor poorer and the rich richer.
These facts cannot,be placed too
prominently before the people, o
be brought to their attention too OF
ten. As in Jackson's time, SO now
+ the Democratic party is the party o
the people, and its opponents. tn
party of all the monopolists.
The pain of spralned limb
quickly removed by ice-cold water
The terrible panss oE whltlow o
fclon are cut short by intense heat