Los Angeles daily herald., 1890-03-11
ABUNDANT CASH.
The Blessings Of Money Di'
lated Upon
BY ONE WHO OUGHT TO KNOW
Senator Stanford Elueidates His
Scheme for Subsidizing the Til
lers of the Soil.

Associated Press Dispatches to the HtEALD.
WASHINGTON, March 10.-Senatol STAN
ford in presenting his resolution p the
Senate today, relative to Government
loans on real estate, said:
"From the earliest civilization there has
existed in all countries the need o. some
commodity that will stand as a repre-
sentative of values through which ex-
changes can be made without the COM
modities themselves being passed from
hand to hand. In the process of time
gold and silver came into use for this
purpose of equalizing exchange, and to-
day when stamped by responsible Gov.
ernments these metals have O value as
money far beyond any possible value
they might have were they only used in
the arts. Money becomes valuable az it
stimulates industry and facilitates the
exchange of the products of mems labor.
ga government bond is valuable to it's
holder on account of the interest it earns.
AS an energetic factor in the transactions
of men, ii only amounts to the percentage
which it draws; but when the bond
holder, by depositing it with the Govern
ment, receives back 80 per cent. in gov.
ernment bills, 80 per cent. of it's value
becomes energized into an active COM
modify, giving employment to the ener-
giss of the country. In like manner. if
the farmer were able to borrow from the
Government, without interest, certain
amount of it's bills, giving his farm as
security therefor, to that extent his land
would become an active force, and he
would be enabled, while giving employ
ment to the extent of the money loaned
him, to improve his farm and increase it's
value to the full amount of the loan.
Thus the Government loan would be
doing double duty.
NOW, the activities of this money do
not terminate with it's expenditures by
the farmer. Those who have received it,
in their turn, will make use of it as an
energizing factor in the forces of life to
an indefinite period. Al money en-
ploys labor it brings to life a continuing
force of labor begetting labor. as GER
tainly as it's fruits are valuable.
"Another way by which we can appre-
ciate what money activity used may per-
form in the settlement OF the balance, is
to be found in the value Of commodities
produced and exchanged, as compared
with the amount of money in circulation. /.
How far the boundless resources of our
country shall be put into activity depends
not only upon the active industry of
our people, but upon the power necessary
to induce that industry; and it should be
the fostering care of the Government to
see that such industry receives every en-
couragement.
"An abundant supply of money means
to individuals of capacity field for the
use of their ability in prosecuting their
various callings of life, and will be par
viduals by affording them facilities for
obtaining capital for the transaction Of
every kind of business. An abundance
of money means universal activity,
bringing in its train all the blessings that
belong to constantly employed, indus
trious, intelligent people.
eff these proposed loans could be made
by the Government without risk, do
not think there would be any serious
obstacle in the way of the accomplish
msnt of the object of this resolution. In
my opinion ample protection would be
afforded the Government if it limited its
loan to one-half or one quarter of the as
sessed value of the property given as
security, and upon the appraisement of
Government officers especially selected
for that duty.
'It seems to me the great thought of
humanity should be how to advantage
the great multitude of toilers, increase
their power of production and elevate
their condition. We know that great
improvement is within the provisions
of providence, and in the prosperity OF
the masses of the people the prosperity
of all is assured. Man is the rightful
heir to peace and prosperity, and very
much depends upon the intelligence of
Governments to represent the associated
capacities and interests of the whole. To
me, one of the most effective means of
placing at mans disposal the force in
herent in the value of property, is thor
oughly furnishing bountiful supply of
money to be based upon unquestioned
and secure values"