The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1891-07-19

JACOB n. sTUDER.
alone. What would be the total on all the
crops in all of the states of this nation? Is
it any mystery why they cannot pay from
10 to 40 per cent. year for the use of
money!"
Next suggested to Mr.. Studer it was
one thing TO want president of his party
In the White House, but another to have
available candidates ready at hand. Who
We're they? To this he answered that
Ignatius Donnelly-the author of the
great book on the Shakespeare-Bacon con-
troversy, of another ON the Lost Atlantis"
and above all of that remarkable volume
Caesars Column" would be a good man.
Then Senator PETER might be another
Abraham Lincoln. But United States
Senator Leland Stanford was his favorite,
as although a railroad stakeholder, the
Californian had endorsed the free silver
bill and believed in sub-treasuries. As for
the vice presidency, what better men could
there be than United States Senator Cor
don, of Georgia, and President Polk, of
the Farmers Alliance.
As the idea of sub-treasuries is far from
clear in the public mind and the concep-
ton of them from the standpoint of New
Yorker might be interesting, / prevailed
upon 0rpithologist Studer to write and
sign the following:
ain principle the sub-treasury plan provides
fluctuations in the demand for its use. 1t has
been and IL advocated by the greatest omistt.
1t is in fact the foundation OF our national bank
ing system, and the reason why that utterly
fails is this Ii makes money for exchange an
article of commerce. Herein lies the vital
principle upon which plutocracy has absorbed
the wealth of labor. Herein is the mighty issue,
which for the first time in human history has
been brought before the jurisdiction OF organ
lied society.
"The national banks have no other design I'M
derlying them than to furnish more money than
gold or silver. and the institution has had but
one excuse for its existence, the same excuse, or
cause, which underlies all banks, and that is, TO
furnish credit to double or quadruple the
amount of exchange. But, at the same time.
bank issuing credit, cooperative or national, can
only do SO when the seeker after exchange
wishes 10 'borror." The borrower takes the
bills. or exchange, or money, and leaves debt.
He takes earth, but leaves the hole which must
a price for the dirt, the dirt hft
then becomes an article measured, and
not measure itself. II society chooses to supply
a measure of value IL can do so. Ii requires care
and Judgment, but IL requires no more care and
Judgment under direct national issue, backed
by property which ii buys on mortgages, than 1t
does when 1t permits an individual or corpora
ton 10 issue that measure of value-especially
when the individual or corporation can trans
form that measure of value into an article OF
commerce to be measured itself by the supply
which they choose to credit-in other words, to
dictate tho size OF bushel or the weight. OF q
pound.
1.-THE principle Is as substantial as the very
foundations intelligence, that the more
property there 10 to be exchanged and the more
people there are 10 40 the exchanging, the more
exchange tmoneyl there must be, or else price
10 at once set on that exchange. The utterers
thereof, then, have the power TO modify
measure precisely as II the bushel and the
pound were subject to their dictation--and hui
man suffering, loss, poverty is the result The
hole they create by debt supplies the earth to
buiiu the money,ienuers wealth
"Mllions OF uoliars are now required III the
s.f h.aar
cotton, ETC. A iarge snare OF IL is borrowed from
European bankers at per cent, when makes
the uollar sluo. anu TINS necessity ior money
compels the proaueer 10 sen AZ once, xhe market
price Is broken ana the producers suner a loss so
vast that no human mathematics can ever as
certain II. and or course the loss 10 the producer
is gain 20 the specuiator ana moaes ienoer ana
thus we have the awful, The stupendous wealth.
in the hands OF the SPECTATORS ana the VIDE
spread, universal poverty over regions 700 vast
TO consider calmly.
1.-THE individual lahorer cannot help himself;
IL is only the organic social structure shat can
address Itself 10 remeay. Now, Is there any
reasonable person who can state reasonable
objection TO the government, when is me
Srgsn,o W.. a. wslI a. nsiyiSnas or coTnor.tion
rsonev.Ienders,
"The mouey-lenders have as security bonds
or stocks having value often unjust
and artihcial, also, iana, anu at times
goid or slNer OF I'VE maiemSuse recsipes anu "a
.hst ~. yoyrrnment ISSUE credit IN the nnbIie.
for the peopIe are the government. and not issue
credit to the individual 10 be bought aud sold
like setasl property, the public to pace its pro-
duce in The hands OF the government as IL now
does IN the nsuus va se e0pi S'.ii' ,L.s. pe
auee oee ., rsrnsnent az 70 The ,nnnsxenasrs
SO sSeci,istors
"By the subtreasury plan the government
will erect convenient warehouses for the stor-
age Of non.perishsoie products, on when the
ss 20 TOE naSs wn1 Ssyn The
increased inc. demand Tor money 10 move the pro
rom 80 to 50 per cent OF value so that he will not
be forced to sell until the mills eau for IT, after