The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1892-09-18

money that you are issuing. should you fail to
collect that loan from you viii levy tar
upon mo 10 make up tho difference. Should an
enemy assaii you, In which event your promise
to pay would cease TO be of value. nothing but
my accumulated labor tcspitalI could save you
from destruction. You will not hesitate to take
from me that which I have toiled years for I.
as patriotic citizen, would gladly give IL to
you. On the other hand, ne who idled away
his time, who neither labored, nor saved
the earnings OF his labor when he did,
who has nothing to furnish as security Tor your
promises. who could aid you in no way in the
event of either war or pestilerce, it Is he that
you give the advantage over me. The moment
he can induce some ono 10 go his security that
moment you loan him my money. You issue
note upon my capital. You forcs me to take
that note as a legal tender. You encourage him
in his lazlness and shiftlessness, but you dis
courage me from practicing the very laws ths,
from my childhood have been taught to be the
laws of Righteousness and virtue"
submit that no process of reasoning; that no
arssunt Of logical argument: no number of
catchy questions, can possibly assaii or dispute
the proportions herein laid down. Reason a.
We may, this fact remains undisputed: that the
moment the government enters into the bushes,
CT loaning money to the people that moment
the republican government, q government Of
the people, will be compelled to devise ways aud
means whereby all the people could get share
OF that loan: that moment the government De-
comes an active competitor TO every man who
has by hard toll accumulated little wealth
Were the government today to possess itself of
all the railroads, telegraphs and telephones
either by purchase or confscstion, ubiquitous as
such step would be, surrounded with danger
as such a proposition would be, IL would still
leave the citizen in q measure unintured
He could, If he chose. 60 to WORK
for the government, and perhaps earn the
~ haf0 or he ~
ment elsewhere At any rate, disadvantages
as such a system would be to him, it would NOT
strike with exceptional severity at every hops
that he fondly cherished from his childhood
No other industry in which the government
may choose to engage could work 30 much In.
jury upon the individual a. the industry loan
ing money without interest II will bear repe-
tftion that money is nothing else but accumu-.
lated wealth. The Peoples party cannot deny
that when they propose that the government
shall issue legal tender and loan it TO the farmer
they are proposing that tho government shall
issue such money upon the credit of thu
wealth accumulated by the laboror: the
credit OF every individual in the natioa
Is pledged TO redeem that legal tender
Yet, not only is il impossible to devise q plan
whereby every individual in the nation can be
equally benefited to the amount OF security that
he offers, but Ii prevents the individual from
deriving any benefit from accumulated wealth.
and thus strikes at the very foundation OF this
nation. A nations greatness rests in the self.
sacrificing spirit of its citizens. He is the most
valuable citizen who not only produces, but
saves. 1t has well been said, "Thas it is not
what you make that counts. but what you
save" What Is true of the individual is true Of
the nation. nations greatness does not lie In
what 10 produces, but in the amount that it ac
cumulates, and thereby places itself
in an independent position. The ma
N n - haa nj mi tiu
The nations fortune consists merely in the in
dividual possessions OF Its citzena Take from
the citizen every incentive to accumulate; tell
him that no matter how much he may save be
IL in no way better off than he who idles away
his time and spends his earnings, then, what
is left? What Will this lead us tor To q nation
OF gluttons: to . nation of idlers, living from
hand to mouth in happy-go-lucky way. caring
nothing for tomorrow. For tomorrow, IL I
need something, I shalt appeal to the govern
ment and obtain q loan"
Money, like any other article, when abundant
is necessarily cheapened in value. So also, the
more paper currency the government issues the
less valuable will that currency become In the
eyes OF other nations. But leave all this out Of
the question. Admitting for arguments sake
that the Peoples party with their spread eagle
ideas are correct, namely, that the United
States of America can stand independent OF any
other nation; that IL can issue legal tender
and command its 100000 people to take 1t in
full value, and thus can compel the entire
civilized world to say that because these
65.o00,o00 Americans say that piece of paper 10
worth dollar all the world must say to.
Granted that the issuance OF legal tender will :,
not decrease its purchasing power. Admit.
ting further. that on Saturday night
the laborer who receives in payment legal
tender notes instead OF gold or silver. can pur.
chase Tor II as much a. ever, still ask my PEG.
ple's party friend in all earnsstnass what mo-
tive Is there left tor the laborer, mechanic or
artisan, or for that matter, what motive is there
for anyone, to save or accumulAtef maintain
that that moment you take from mo the right
to say to my fellow being, "YOu can only pos.
sess yourself OF my accumulated wealth by paw.
Ing me interest therefor. / insist that when
you wish to possess yourself Of my accumulated
labor and thereby improve your condition, you
must share the profits which you derive there
FROM" that moment you take from me every
motive that prompts me to be frugal and eco.
nomical aud thrifty.
This question could be argued to unlimitabls
length. True, that, matter OF fact, this en-.
tire argument has no value. for the simple fact Y
that no man who will but stop to think will
claim that money should not have an earning
power. But, as stated in the outset, the vast
number of the rank and file Of the Peoples
party: that number which has my most sincere
respect; that number which believe does hon. i
II
take OF forgetting that those whom thoy follow
care the least for the interests of the masses
They forget that had Weaver received renon-
ination in the Republican party be would still l
be there; they forget that had Ignatius Donney
received further recognition from either the Re-
publican or Democratic parties he woui /
never worry himself about the rnasses;
they forget, further, that right in this |
state their own candidate for governor.
the man who goes about decrying national
banks, the man who points bis finger with 4
scorn at national banks and bankers, the man
who never speaks OF a banker unless he prehxes 1
the name TO him OF either 'shylock" or
"usurer"-that that very man owns a majority 4
of stock In tho national bank at Pullman in this
state Mr.. Young has q perfect right to national
bank stock. l shall be the last to blame him fot
1t, but IL merely proves his hypocrisy. l havts9
no pardon to ask for the length of argument
have entered into upon Q proposition that sub.
mits OF no argument to the thinking man. PEI
sonal interviews with large number OF Pec
piles party followers conyinces me that they |
have never looked at the financial question from
the aspect herein presented: they have never
stopped to think that when they
take from money the power OF earn
ing interest they take from themselves
every incentive of exertion, and thus
not only destroy thsindividuality OF the masses. |
but place the masses absolutely into the hands
OF the land owner. For in any event. the mo.
ment the government enters into the loanng Oh
money. that moment the land owner will be the
first TO obtain his loan. II 10 simply and plainly l
nothing else but the establishment oil . landed
aristocracy against which our fathers fougaL
ALI the beneficial laws passed by the Repuoii'
can party; all the efforts made by that party III
behalf of the toiliug masses, would b fuii's
II the masses could not look TO that happy day i