The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-03-11
STANFORD'S UTOPIA.
The California Senator Speaks
on his Resolution
TO GOVERNMENT LOANS
To Farmers Based on Real Estate as Security
Tor the Same-It is a Step Toward
Nationalism.

WASHINGTON, March 10.-Senator Stan
ford, in presenting his resolution to the
Senate to-day relative to government loans
on real estate, said: "From the earliest
civiliz ation there has existed in all coun-
tries the need of some commodity that will
stand as representative of values through
which exchanges can be made without the
commodities themselves being passed from
hand to hand. In process of time gold and
silver came into use for the purpose of
equalizing exchange, and today when
stamped by responsible governments
these metals have value as
money far beyond any possible value
they might have were they only used in
the arts. Money becomes valuable as it
stimulates industry and facilitates the eX
change of the productions of mems labor.
A government bond is valuable to the
holder on account of the interest it
earns. AS an energetic factor in the tran
sactious of men, it only amounts to the per-
centage which 1T draws; but when the
bondholders by depositing it with the
government receive back 80 per cent in
government bills, 80 per cent of its value
becomes energiZed into an active COM
modify, giving employment to the energies
| of the country. In like manner
| If the farmer were able to borrow from the
government without interest a certain
amount of its bills, giving his farm as Sc
curity therefor, to that extent his land
would become an active force and
ne would be enabled, while giving employ
ment to the extent of the money loaned
him, to improve his farm and increase its
value to the full extent of the loan. Thus
the government loan would be doing double
duty. Now, the activities of this money do
not terminate with its expenditure by the
| farmer. Those who have received it in
their turn will make use of it as an energiz-
ing factor in the forces of life to an indefinite
period. AS money employs labor it brings
| TO life continuing force, labor begetting
labor as certainly 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 the commodities produced and
exchanged compared with the amount of
money in circulation. How far the bound
less 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 a
fostering care of government to see that
such industry receives encouragement.
An abundant supply of money means to in
dividuals OF capacity field for the use of
callings of life, and will be particularly val
uableto associations OF individuals by af-
/ fording them facilities for obtaining
capital for transactions of money
means universal activity, bringing
every kind of business. An abundance of
in its train all the blessings that
belong to the constantly employed
industries of intelligent people.
If these proposed loans could be made by
the government without risk, l do not
think there would be any serious OBSTACLE
in the work of the accomplishment of the
object of this resolution. In my opinion
ample protection would be afforded the
government if it limited it's loan to one
!, half or one-quarter of the assessed value
OF the property given as security, and upon
the appraisement of government officers
especially selected for that duty. 1t seems
; to me the great thought of humanity
should be how to advance the great null
titude of toilers, increase theil
power of production and elevate their con
, dition. We know that great improvement
is within the provisions of Providence anC
in, the prosperity of the masses of the PEG
pie the prosperity OF all is assured MAJ
is the rightful heir to peace and prosperity
and very much depends upon the intelli
gence of government to represent tn,
associated capacities and interests of thu
whole. To me, one of the most effectiv
means of placing at mans disposal tn
force inherent in the value of property
in thoroughly furnishing bountiful sup
ply of money based upon unquestioned an,
secure values"