The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1892-05-17
THE MILK IN THE CocoANUT,

The public generally know that the United
States loaned Messrs. Stanford, Huntington
and others money enough to build the Cen
tral Pacific Railroad. 1t knows also that u
gave these persons outright large suosidies
in land, we may say stretching all oil the
way from San Jose to Ogden. ms city
gave these persons also large subsidies In
lands and bonds; one hundred and sixty
acres Of land in Mission Bay, we believe,
where its warehouses, ETC., are HOW To-
Gated. How much more property these
men have obtained from California we do
not stop to point out We will, however.
go into another matter and show how easy
it is to make money when men obtain com
plete control over the people, placing their
agents in Office. In this city the Southern
and Central Pacific managers own the Mar
ket-street system of railroads, branching IN
various directions over the city. This sys-
tenn Of railroads, we are told, WAS built en-
tirply with borrowed money, none of 1t
being their own. Then there IS an important
cable railroad in Oakland which IS owned
by the same persons and which was doubt
less built with borrowed money. The
Southern Pacific Railroad was also built
with borrowed money. After reading the
above it may not be so very difficult to IN
derstand why Mr.. Stanford desires TO have
cheap money. He wants the Government
to make per cent money and then he
wants the Government to loan him that
money In this connection we append the
following article from the Chicago Tribune
Of a recent date:
THE MILK IN STANFORD'S COCOANUT.
a w days ago Senator Stanford was ini ervlewed
at III tsburg and this is the substance OF what be
is reported to have said:
The Peoples party VIII certainly have eandi-
date IN the fight this fall With a national debt
Of S2.000,000.0 900 ~ an enormous railway iu-
debtedness, half the land mortgaged ~, and the
load growing heavier III, il is time that meas
ures OF relief be taken. In the West people need
more or freer money The Peoples party hopes
TO get Il from the Government don't know
who their candidate VIII be. l presume Mr..
Harrison and Mr.. Cleveland Will be respectively
the Candidates of their PARTIES. This IS the gen
eral impression IN the West.
These statements constitute the sum total OF
Senator Stanford's political economy aud hnan-
cial Information.
/. Counting in the outstanding greenbacks as
part OF the national debt, 1t IS only one billion
Instead OF two. He doubles the debt 10 start
WITH
2. The enormous railway debt which dlstresses
with which The American railway system has
been built. The amount OF full paid stock on
railroad construction for the last 80 years has
| been comparatively little; and In the case OF
Stanford's railroads nothing has been paid on
the stock; it represents nothing bat wafer. II
the stockholders Of the subsidized roads would
pay for their stock. the money would pay of the
mortgage Indebtedness. The sixty or more mil
/ lions borrowed from the Government on second
mortgage Hens by Governor StantOrd's Central
Pacific and Cakes Ames' and Jay GOuld'S Union
Pacific roads could be refunded il The stock
holders, one OF the largest OF whom is Stanford,
would pay for their stock.
3. Half ibe land OF the United States is pot
mortgaged, nor quarter of II The land mort
cages do not exceed One-tenth OF the volume
Of The real estate in this country, and IL all rep
resents deferred payments on purchase money
and capital borrowed for the purpose Of making
improvements on land and lots Hence It is not
load" OF an oppression, but investments. inl-
| provements-ihe use Of one mans capital by
another m N in his business. And the plenlier
The surplus capital becomes the more do enter
/ prising men seek TO borrow it. Hence the better
The times the more mortgages are created.
+. What Senator Stanford means by 'freer
money" IN ans cheaper currency. The less pur-
| chasing power it has, provided It will pay
debts, tie better il viii please him. aud that
too. for very selfish reason. He wants the
Government TO set IT'S pTl0tlng-pIesSes al work
manufacturing legalteDder scrip shlDplasters
| Tedeemable IN nothing which trash he calls
money" This stun the great father Uncle
| sam Is to loan TO his children at 2 per cent on
! long time, who have borrowed good money from
/ their brethren. with which they have bought
/ farms and houses and made Improvements, and
/ this worthless scrip Is 10 be rendered 10 their
! creditors 10 repayment or the good money Dor
! T0wed by them. II is also 10 be rendered TO
! Uncle sam himself in payment OF the sixty
/ millions Governor Stanford & Co. borrowed
/ from tie Government. with which they con-
/ structed the Central and Union Pacific railroads.
! By this sharp hnancleTing the money Cover
/ nor Stanford, Jay Gould ct al owe the Govern
/ ment would be "Baid or without costing those
| gentlemen a cent Of real money. And that is the
reason he good Old Senator is 50 fond friend
! OF tie PETER and Polk Peoples party. This is
/ the milk in their cOeOanut