New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-12-11
LELAND STANFORD TALKS.
BE is NOT A PRESIDENTIAL CANDIDATE
Ole THINKS THE MONEY QUESTION THE GREAT
lssUE-ANswERING OBJECTIONS TO

HIS LAND LOAN SCHEME.
San Francisco, Nov. cs-Much has been said recently
hbout the candidacy Senator Stanford for President
It has been fatty asserted in many Western news
papers that he Is the chosen leader Of the Farmers
Alliance and is materially aiding their campaign against
the two older parties The Senator is not man
who talks freely for publication; he is too busy with
his great railroad interests and his educational projects
to the interviewer. Hence any positive statement
from him in regard 10 his political position ana ms
views what he regards the great issue in the
coming Presidential campaign will be OF interest,"
There is no question that IL Mr.. Stanford were as
well known throughout the country as he Is In
California he would be formidable competitor for
the Presidency even an independent ucket' here
ne easily the first citizen of the state. No other
man is held in such regard by the great pody Oh
the people, Despite the fact that he has great wealth
and has been the ruling power In vast railroad
corporation for generation the people OF Gall
fornia believe that Mr. stanford has their interests at
heart than any other man who is prominent In
public affairs. This is largely due to the fact that
for many years he has aided literally in developing
nearly every new industry that has become success
in California and he has put the crown upon this
good work by founding the University at Palo Alto,
which is designed especially to give poor but ambitious
students chance get the best practical training for
trade or profession TO enumerae the enterprises that
Stanford has put on their feet the people he has
assisted and the charities he has aided would fill
column. IL must sufnce here to say that he has
wider range of interests that nine out of ten rich men
in this country and that for twenty years he has
devoted much thought to subjects that ordinarily do
not who have piled up millions. Thus he
has demonstrated conclusvely that the California
climate one of the best in the world for breeding fine
horses and he has proved by actual test the race
track the correctness Of his theory that the best
trotng horse must have liberal infusion Of thorough
bred blood. His patronage of Muybrdge, the photog-
rspher led TO the discovery Of the real movements Of
he hDrSe In
enough made about the time without instru-
ments by Barge the great French sculptor OF animals
He has been foremost in improving the breed Of
California dairy cattle, in introducing the choicest
varieties of European wine grapes prunes and other
fruits and in accmang ornamental trees and shrubs
from ell parts of the world. These are only few
Of the more important services he has rendered and
most of this work has been done in the midst Of the
most exaccng duties.
When one considers the strong sympathy with work
ing people which has prompted Senator Stanford to
gage in so many enterprises that could bring him
profit and fame, ii is not difficult to the secret
Of his strong hold the affections OF Californans.
Add to this the fact that every who has any per
sonal relations with him is after his strong friend.
and that those who work for him are always treated
with the utmost nberaity and Kindness, and you have
the key to the great personal popularity of Stanford.
which. in case he ever ran for office within the
suffrage of the people, would give him thousands of
votes Irrespective of party.
But the curious thing about the man is, that
though he has stronger temptation than most men IN
his place. he has no desire for public Office merely to
crafty ambition pride One day this week had
half hours talk with him in which he declared in the
most positive that all the reports that he
seeking Presidential nomination in the coming cam
paign were pure fiction. "rhcse Stories" he said,
Hprobaby originated from my bill in Congress for loan
ing Government money on land. The Farmers ALI
snce has taken up the pan and it was natural that
there should be good deal of talk about the author of
this bill as a possible candidate of the party.
But you may say that 0verures have been made TO
by the Alliance by any other organization TO
as Its nominee. All the reports Of any negotiations
on my part for the nomination without founda-
ton. man in nv place cannot prevent the publ
cation of foolish articles. Thus, for instance in an
illustrated paper of Francisco there appeared not
long ago cartoon and article naming me for the
Presidency. Many thought this was inspired because
they fancied this paper was my organ. Yet the
simple fact is that not dollar of my money ever
went into the paper and it is seldom that ever see
copy OF the journal This is only instance of the
way the public jumps 10 conclusions in such a mat
ter. / have been Republican from the foundation
Of the party. because believe it has made this
Try what 1t is and that it includes the best citizens
No party, it to me. hope to succeed which
depends largely upon the foreign clement that has not
esmated American ideas and that Is without strong
interest In the progress and prosperity OF the Nation
But not partisan, and in treating great issues
would prefer TO them handled outside Of party lines
1t seems to me the greatest issue In the coming
campaign will be the money question. and that upon
the solution Of this question will depend not only the
welfare Of the country, but the Of the party
that takes ii up. The last few years have in
creasng complaint in this country well as abroad OF
ue scarcity of money Any financial disaster, like
the Earrings failure. creates strngency in the money
market that is only saved from panic and ruin By the
most desperate eNertions of 1naDcieFS. Securities
shrink in value and the losses in the market value of
bonds ard stocks amount TO hundreds Of millions All
this Is caused by the fact that the worlds trade has
outgown the supply Of money with which to transact
1t, and that tie question Of money has been compi-
Gated by the erroneous idea that paper money must
necessarily he redeemed in other kind Of money.
II IL had not been for this misconcepuon am posi-
tive that there would have been depreciation Of the
greenbacks during the II they had been receiv-
able for all debts public and private, they would have
stood ut par The question Of redemption cuts
figure when the Government Is known TO be stable.
Thus the Government OF Venice for 800 years
issued paper money, which was never redeemed, yet
it good gold silver.
"In country like this, where distances are so great.
Il Is imperative that have ample medium of
change. There cannot be too much money, and any
plan that pus the Government In the position Of
lender at fr interest good security is which
should receive support. 1t is this idea that my
bill for leaning Government money was founded. To
fix per cent rate and 10 permit the Government to
create unlimited money seems to many to be putting
q premium on commercial disaster, but II you study the
subject you will hat when the interest rate is
fixed at per cent II any borrower get more than
this he is to loan it and thus put the money in
circulation. In much money Is issued That the
rate falls below per cent then natural contraction Of
One supply win follow, the debtor win borrow the
cheaper money and pay of his debt TO the Govern
nent Thus the circulation becomes really automatic.
The finest result OF such system that 1t would slim
ulate every pro ectve industry. Men would be en-
couraged 10 start large number OF enterprises
they able TO get money at low interest. Especially in
Interest and The difficulty