The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1891-08-01

would make the loans 10 the people
upon improved real property At the rate
not exceeding per cent Governor PEN
meyer imagines also that the loaning of
money by the government at 4 per cent.
would at once fix that rate throughout the
country, and believes that the fixing Of
rates on money mainly regulates its value.
Without this reform IN our financial
system Governor Pennoyer sees the spectre
Of the French revolution materialized for
Us within twenty-five years. These views
of the tariff and finance viii make Cover
nor Pennoyer share with "Sockless Jerry"
and the Longobardian PETER the idolatry
of the Farmers Alliance. but they will
make his nomination for vice president
by the National Democracy impossible. To
anybody who knows Governor Pennoyer,
these views. which stand for financial abb
surdities of most ancient and fsh-like
smell, viii be no surprise. for he is an
net swarm today all the bees of
bad government and worse finance that
have vexed the sane world by their buz
zing for the last century. 1t would seem
as If every political or social or financial alb
surdity that every winged its butterfly
fight through the land had dropped its
eggs in the cells of Governor Pennoyer's
brain to be hatched out of season
long after the people had ceased to
chase the butterfly. Born. bred and
educated in the Empire state, Governor
Pennoyer was Calhoun state supremacy
Democrat before the war; q copperhead
Democrat during the war; greenbacker,
fat money man and negrophobist and anti
Chinese incendiary agitator after the war.
In May, 1869, he made the editorial asser-
tion that ''the act of emancipation is vir-
tually the death warrant of the inferior
race, and that, unfit as all history has
demonstrated him to be for state Of free
dom, ultimately, and speedily, too, like
the Indian, he viii disappear before the
white man and leave this whole continent
to the Caucasian race. This would be .
desirable result achieved by the means of
q most infamous organization"
The negro is today about ZOO, 900 strong
against about 5000, 900 in 1870. He is not
disappearing very speedily"
Governor Pennoyer denounced Presi-
dent Cleveland for favoring compensation
to the victims of the Rock Springs mas
sacre; he knows that our government has
exacted punishment and indemnity for
riot of China and Japan; knows that
under our treaties with China the Chinese
residents are as much entitled TO protection
for life. liberty and property as any other
foreign residents on this coast, and yet he
denounces Democratic President for the
humanity and equity of his action in this
the matter. Governor Pennoyer believes
in paternalism in government; thinks the
government should be paternal
banker, lending money to the people
on land, q crazy scheme that has
been tried over and over again, and
has always ended in disaster a. it did in
France, when the government practically
owned nearly all the land and issued cur
rency upon it. Rhode Island did the same
thing shortly after the Revolution: is
sued currency to the farmers on the
security of land until universal business
bankruptcy and paralysis of trade ensued.
Governor Pennoyer is an amiable. genial
crank, whose brain recalls what the Scotch
shepherd said of boiled sleeps head,
There's deal of confused eatin ABBOTT it."
Governor Pennoyer's finance" how
ever, is not more absurd than his admir-
alton for Cleveland's proposition to return
the Confederate flags; than his insistance
that under his obsolete theory of state
supremacy it was unconstitutional for
him to courteously meet the President at
the state line; than his veto of the Port
land water bill.
Referring to Governor Pennoyer's view
that currency "based" on land is the right
thing for US, the New York Erening Post
makes this incisive comment, which fatally
pricks his bladder-head theory of kanga-
roo and wildcat finance.
Some people say that this is impracticable, but
Governor Pennoyer knows the contrary because
t'the state of Oregon has now more than two
million dollars Of school money loaned upon the
improved farm property of the state" A little
befored he said biased" now he says "loaned."
Why did he not say that the state of Oregon has
two million dollars based on the improved farm
property of the state? Because that would not
be true. The state of Oregon has no money
that is "based" at all The money of Oregon 10
gold, and that kind of money "bases'' itself