The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1892-09-09
LOOKING RACK WARD.

ty will not 'hold water" The pur-
chase of the railroads by the gov
ernment would cost $4,000, ,OOO,-
900. We have been nearly twen-
ty-eight years trying to pay Oft a
war debt that was originally about
a quarter of this sum, and we have
only paid off a little more than
half of it. OF course, we will nev-
er consent TO burden the people
with any such enormous debt as
that contemplated by the PROPOSE
ton for government purchase OF
the railroads. The government
: cannot in honor and honesty con-
!. fiscate the railroads, and the peo-
pie cannot afford to buy and oper-
ate them. The government oper-
alton of railroads would so increase
the number of government officials,
high and low, and employees, that
it would be impossible to dislodge
corrupt administration save by
revolution.
= The sub-treasury bill was made
the subject OF unanimously adverse
report in this congress. 1t is in
violation of the constitution; it is
class legislation; it would lend the
money of the whole people on
doubtful collateral to farmers.
People having particular kind of
property to deposit could get
money at 1 per cent. from the gov
ernment and let it at a higher
rate to other persons. If there
should be reduction in the value
of the goods after they are stored
below 80 per cent, the govern
ment would lose; if the value in
creased, the government would
get none of the profit.
Concerning this scheme Demo-
cratic Congressman McMillin said:
"The inauguration of the scheme
would be the speculator's delight.
He could carry $47O,0O0 worth of
wheat with less than $4,000 cash,
and pay the government only l
per cent. interest. The great in
crease in the number of officials
would make it almost impossible
to dislodge a corrupt administra-
tion. No provision is made for
the redemption Of the many mil
lions to be issued under the bill,
and the banks would have power
to force the destruction of any
part of the government money"
The government of the United
States has not the slightest shadow
of right to lend the money of the
people to any person or. class of
persons for the benefit of their
private business; the government
can appropriate public money for
objects that stand for the public
veal; the government can lend
the credit of the nation to aid the
completion of a vast transconti-
mental railroad, like the Union
Pacific, or a work of great national
consequence, like Nicaragua canal;
it may subsidize lines of ocean
steamers to the end of increasing
the general trade of the nation
and building up its commercial
marine interests in our great fight
with foreign countries for the
trade of the world, and on the
same broad principle of national
advantage it may help the worlds
fair, since this gigantic enterprise
is of vast advantage to the pros
perity and general welfare of the
whole people, but the United
States cannot lend a dollar to any
individual or class of individuals
to help them in the transaction of
private business; to increase its
gains or limit its losses; nor can
the United States issue legal ten
ders, winch are forced loan from
the whole people, for the benefit
of any private business, or any
particular class of people.
The peoples party begin wrong
to accomplish anything; they
should begin by upsetting or evis-
cerating the constitution. of the
United States and i completely
our form of government
from that Of a government OF in
dividualism, .which governs best
when it governs least" to a gov {
/