The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1890-03-11
MR.. S7ANFORD'S BILL
For the Relief Of the Existing
Agricultural Depression.
LOANS BY THE GOVERNMENT
Upon Mortgages on Real Estate In.
dependent Of improvements Mt
Reasonable RateS-.llIs Scheme
Explaincd-Capital News.

'HshaNe'SSt eAaiSu ~ AmouR tue
bills reported from committee aud
placed on tho calendar were tho follow.
Ing: For public building at Baton
Rouge, La, Sl00, 900; for the construc-
ton OF postoillce buildings in towns and
cities where the postoalce receipts have
Tor the past three years exceeded s., 900
a year. ....,,
Mr.. Hoar, from the Committee on
Privileges and Elections, reported IN
order for the striking from the Congress.
tonai Record Of the words inserted by Mr..
Call in thereport- of -t1is- -rer,srks II. the
discussion with Mr.. Chandler on the
10Th Of February, md for tho substitu.
tion Of the original report made by the
Official reporter. The order was placed
on the calandar. tU
Mr.. Stanford offered q preamble and
resolution instructing the Committee on
Finance TO inquire what relief for the
existing agricultural depression may be
furnished by the United States Govern.
inent, and particularly whether loans
may not be made by the Government
upon mortgages on real estate indepen.
dent OF improvements Mt such rates, and
to such an amount as will make the
security to the Government perfect-the
government TO receive some small rate
OF interest, from one to two per cent,
and to be enabled to call in percentage
OF, the loans from time to time at its dis
cretion. He submitted somo remarks in
support Of his resolution and the resolu-
ton was referred to the Committee on
Finance.
Senator Stanford, in presenting his
resolution to the Senate to-day, relative
to Government loans on real estate said:
From the earliest civilization there
has existed in all countries a need of
some commodity that will stand as rep.
resentatiye OF values which can be made
without the commodities themselves be.
ing passed from haud to hand. In pro.
cess Of time, gold and silver came into
use for this purpose Of egualizing ex-
change, and TO-. day, when stamped by 70.
sponsible governments, these metals
have a value as money far beyond any
possible value they might have
we're they only used in the
arts. But it is obvious that their
value as legal tender depends as much
on the government stamp as does the
paper which is stamped by the govern
ment and made legal tender. Money
becomes valuable as it stimulates in.
dustry aud facilitates tho exchange OF
the products of mans labor. Property
itself is valuable according to theuses to
which it is applied. Thus, supposlng n
man 8 wages WeYe'a dollar q day, STOOL
would employ 100 men one day, but
could the product Of the labor of these
men be Immediately utilized the 500
might give employment to 100 men
every work day in the year.
1.-The Government bond is valuable to
the holder on account of the interest it
earns. AS an energetic factor in the
Of men, i. only amounts to
the percentage which it draws, but when
the bondholder, by depositing it with
the Government, receives back 90 per
cent in Government bills, 90 per cent OF
its value becomes energized into an &C.
tive commodity giving employment to
the energies of the country. As money
employs labor it brings to life contin-
uine force, labor begettins labor as Ger.
tainly as its fruits are valuable. Another
way by which we can appreciate what
money, actively used, may perform in
the settlement Of balances, is to be found
in the value of commodities produced
and exchanged compared with the
amount OF money in circulation.
"AH abundance Of money means uni
versal activity, bringing in its train all
the blessing that belong to constantly
employed, industrious, intelligent peo-
pie. II these proposed loans could be
made by the government without risk,
l don't think that there would he any
serious obstacle in the way Of the ac-
complement OF the object OF the resolu-
ton. In my opinion ample protection
would be afforded the government if it
limited its loan to one.balf or one.quar-
ter the assessed value Of the property
given as security, and upon the appraise.
ment Of government officers especially
selected for that duty. 1t seems to me
that the great thought OF humanity
should be how to advantage the great
multitude Of toilcrs."