The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1890-06-04

II will be remembered that Senator STAN
ford Of California . short time ago intro.
duced and supported by speech bill re-
quiring the Secretary Of the Treasury to
Issue government notes to the amount OF
one b undred million dollars. said notes to
b full legal tender tor all debts. public
and private. and 70 BE- loaned ct per cent
interest per annum in sums OF not less
than $50 on the security Of farms to an
amount not exceeding 50 per cent. Of their
valuation for purposes Of taxation.
Among 'sthe gold bugs Of Wall street"
and In nnancial circles generally the sens-
tors plan for ssnsrsising" farm values was
received dsrisivsly. But in some farming
districts, or at least BY some farmers II was
received with favor. and Senator Mills, II
Texas. and Carlisle. Of Kentucky. have felt
constrained to address voluminous letters
TO some Of thsir admirers In the agricul-
turai ranks, opposing the scheme BY slabor-
ate argument. = IN conflict with sound
economic principles and fraught with
financial ruin Il h doubtful. however.
that their arguments have convinced their
correspondents or assuagsd their bucoiic
ysarning for abundance Of money at
nominal rates Of interest.
But the trouble has not stopped here.
The Stanford idea Of senergising'' dor.
mant values has proven infectious. The
Wage WORKER Political Alliance, Of
Warrington City. want TO ''energise" on .
scale which makes the California Sena-
tors scheme 'spale its Intellectual fires"
They have drawn bill .Te abolish land
lordism. and for other purposes. Their
idea IL an improvement on Stanford's on
the score Of simplicity and Its avoidance OF
any red-tape preliminaries By the Treasury
or any other department They steer en-
tirely clear OF the delays incident to the
printing and issuance of paper money. and
obviats any objections that might be urged
against . possible imitation Of the cur
rency beyond the needs Of healthy finan-
cisl condition.
By the provisions Of their bill, 1.-The ten
ant Of any property Is hereby authorised
to draw his warrant on the Treasurer OF
the United States for a sum equal to 200
times the amount Of rent paid BY him dur
ing the preceding month. which warrant
shall constitute . mortgage on the
property in favor of the United States.
The owner must accept this
IN full payment for his property. under
penalty Of imprisonment for life II he shall
refuse said warrant as . fnll legal tender.
Within thirty years the tenant is to pay of
the mortgage TO the government. Whether
this is TO be effected by issuing another
warrant or in other equally unexceptson-
able money Is not set forth. Stanford's
outrageous suggestion OF Interest," Per
cent. year for 20 years would roll mp an
aggregate OF % per CENTS very properly
relegAted TO the limbo OF other manifesto.
tons Of capitalists insolenoe. The war.
rant" takes the property and the landlord
may whistle for interest and be very happy
II he gets his princapsl
Hat even this does not exploit the whole
field of dormant values which q ps,ernai
government might energise. Doubtless
Senator Ingalls,. who "hy request intro
aaeed the bill above noticed. could also be
induced TO present one which would pro-
vide = circulating medium. exchsngeable
fer gold at the option Of the holder. in
some faint degree representing the energy
al commercial travellers or an Insurance.
agents cheek There Is no class that Is
more active ard influential. POLITICALLY.