The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1890-08-29
A sTEIKING OBJECT LESSON.
Why Washington Has Advanced MOI
Rapidly Than Oregon.
Portland o~regonian.

AtA1A OI<EOA110%
What are the sources and causes of the unex-
ampled development that Is taking place In the
state of Washington. While the natural re-
sources OF the state are very great, Jet natural
resources alone, wrought upon by the ordinary
methods of immigration md unaide1 Labor,
would not produce q phenomenon so remark
able. The secret lies mainly in the rapid intro
ducsion OF capital into the state. and this rapid
introduction OF capital IL due to the fact that
capital in Washington Is allowed unrestricted
movement and freedom of action
To Oregon there never hiss been an object les
son equal TO this Washington invites invest
ments; the fact has become known, and she
gets them Money is pouring into the state
from all quarters u seeks every opportunity;
it enters into every avenue; it creates cities,
builds mills, opens mines, makes far ms, irrigates
lands and establishes industries OF all kinds. It
10 planted wherever men see q prospect that
may In time produce dividends or yield profits.
Not so Oregon What Is the reason? Simply
this: The laws of Washington favor investment
OF capital, while the laws of Oregon practically
forbid il Investments are free IN Washington;
in Oregon they are hampered. trammeled, re.
srricted BY our tax laws and By the practices
that have grown mp under them.
There is no usury law in Washington, and
money may be lent on mortgage in Washington
without subjecting the lender or borrower to
tax Capital, therefore, finding . free field, is
pouring into Washington, filling the state with
industries and e~fecting q transformation whose
rspidity and extent has seldom been witnessed
in the growth of our states. On the Pacific
slope there never has been anything to compare
with 1t. What has been done in Washington
during the last few years has been mainly the
work of capital introduced from abroad This
capital has been introduced because the people
have invited it have not hindered It's free
movement By usury or mortgage tax laws, and
haw-A knan ~rt~arv n~-snr< -5%D 4.-.~f1- ~ ~
property It has created, instead OF taxing the
credits o. loans on which the industrial devel-
opment of the country il founded Had she not
extended to capital this invitation and oppor-
tunity, Washington would not have witnessed
for twenty-five years to come the development
she has now in so short q time achieved.
Win not the press OF Oregon unite in urging
amendment of the tax system of our state, in
GLIDING repesl Of the mortgage tax law? Expe-
rienee makes II clear that the present system
oppresses the state and retards its progress.
There is Q reason why capital seeks Washington
and avoids Oregon. What can the reason
be other than herein indicated? Our mortgage
tax Law utterly fails Of the purpose for which it
was intended. 1t does not favor the borrower,
and If even it makes the lender pay q tax he
simply shifts it But it does impede business
transactions; it does prevent the free move
ment and investment OF money; IL does keep
capital out of the state. Will not the
whole press Of Oregon join in asking
the Legislature 10 repeal it? Let CAPT
tai flow freely into Oregon, and we shall speed
lily have a degree Of activity and development
here az great as that witnessed in Washington.
But this will never be in Oregon so long as We
insist on damming up the very fountains of al
active enterprise. Millions of capital have gone
into Washington from Oregon during the las;
ten years, solely because 1t could find invest
ments there which the laws at home forbid. Is
this to con.inue? Then by the end Of the next
decade Washington viii have twice the popula-
ton and more than twice the wealth and bust
ness and prosperity of Oregon.