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


these columns to the money question, 1 yet feel
impeiied 10 enter into closer study of the f.
nsncisl question rs presented 10 us by the Peo-
pies party. LII an apology is due the public for
narping so often on this money proposition, IL
is not who owe tho apology, but those who,
though they have embodied in their platform
every ism their wild Imagination could suggest,
are today concentrating their entire strength
and force upon that plank of their platform
which alludeS TO finance.
1t is perhaps well that should state at the
outset that intend to prove in this article that
the money laws, as proposed by the Peoples
party, would operate with greater severity upon
the wage Garner than upon any other Glass; ]
intend further to provo that every incentive
now existing for a man to exert himself, earn
and accumulate win be entirely abolished by
the inten1ed legislation.
With all my vanity do not fatter myself to
be able TO convince the professional Peoples
party agitstor and orator. For where there is
no reason reasonable argument can have no
effect Further, where the mind is corrupted
by motives absolutely selfish aud by objects un-
worthy of reformers 1t Is Impossible 10 con-
vince. Paine's saying is well applicable to our
street corner orators: "To argue with q man
who has renouuced his reason 10 like giving
medicine to dead man.
The masses, however, who, having been told
by Gen. Weaver that all they need to do in order
to find out what was the matter with them was
to put their hands into their pockets and there
feel the cause. and upon complying with his
command and putting their hands into their
pockets and not finding there ample supply
OF cash, hastily conclude that it is not their own
lack OF exertion, or void OF economic practices
that produces the emptiness of their pockets.
but that our financial laws are wrong. and that
an increase OF circulation is absolutely neces-
sary, and that with such increase they would be
the ones most benefited. It is to those that am
addressing myself. wish to call their atten-
ton TO three cardinal principles:
Ffrst-That an increase OF paper money or
legal tender merely means the enlargement Of
the national debt Nothing more and nothing
less.
second-That no matter to what extent the
coinage or printing OF money is increased, I'M
less a mode of equal distribution is devised the
masses will receive nc benefit from it
Third-That the moment the government en-
tiers into competition with the individual and
Issues and loans money to people without inter-
est, that moment 1t has taken from the iudi-
vidual every incentive to thrift, ECONOMY and
frugality.
Bearing these three principles in mind lot Us
now proceed to analyze the demands of the
Peoples party. Briefly, they wish the govern
nent to increase its medium of exchanges; they
wish 1t to loan money to the individual at such
nominal rate OF interest that practically abol-
ishes interest upon money. Moreover, the Peo-
pies party admit that when the government
loans money it should loan it to every citizen
alike. 1t is we'll to remember that though they
recommend in their platform the sub-treasury
scheme, which means the loaning OF money
upon non-perishable products. they insert these
more comprehensive words. "or . better sys-
tenn" 1t must therefore be admitted that
should the laws desired BY the Peoples party
ever prevail. money could bring 10 interest,
for no one would pay interest to the individual
"a nh 70 tHn
money without interest Let me now illustrate
by given condition of things that we may best
understand to what length this would lead US.
suppose Is . mechanic; he works on
average OF twenty days in a month, and, being
good citizen, desires beyond all to maintain
his independence To guard himself and chill
dren from the poorhouse he lives frugally; his
wife reduces the household expenses to lines of
closest economy. He himself goes neither to
theaters nor beer halls He has an object in
life, and that is to accumulate sufficient
wealth so he may cease toiling and live indie
pendently. No one will deny that this Is q
commendable object Granted that he manages
to live upon three-fourths of his earnings, and
tn at at the end Of one year he has one-fourth OF
his earnings left For illustrative purposes let
US cay that this is $780,
b, who Is keeping . grocery store. approaches
A, and says: keep as long hours as may,
work as hard az can, I cannot increase my
trade. For the reason that have no capital
am compelled to buy my stock In very small
quantities, and consequently pay a large retail
price for it transportation is high, and
cannot even manage to supply my customers
with all the groceries they need.
wish to improve my trade. and II / had
little capital think could we'll do so, there.
fore ask you to loan me your accumulated
$!oa believes B to be an honest man; thinks
he could we'll entrust him with his hsrd-earned
capital. and he says to B: ~ am willing to
loan you my money. provided certainly, that
receive some reccmpeuse for such loan" But
retorts: "This IL cruel. You have the money
lying idle. Why not let me use IT. Why should
you sink to the low depth of the Insurer and de-
mand of me interestT' To which answers:
"B, you and had equal chances Had you de-
prlved yourself OF as much az did, were you
AZ frugal and thrifty as ! was and am, you
would have today as much accumulated labor
as have. But no; You continued to live from
hand to mouth in q happy go-lucky way. spent
your earnings az fast you made them, and
now You ask me to loan you my earnings with
out any interest You wish my money for what
purpose? You wish to improve your condition.
With my accumulated toll you wish to increase
your stock, improve your trade, and place your
sell in an independent position. What do you
offer me? Nothing" To this B again replies:
II care not for your reasoning process All
know Is that / can go to the government, and
by giving it security get money without inter
est So you, A, may keep your money, or accu-
muiated labor, as you call il, and do with 1t
what you please"
submit that this would be the actual condi-
t1on In the event OF the passage of the money
legislation as proposed by the Peoples party.
Let US look the matter squarely in the face.
Why do men labor? surely not because of their
love for it 1t Ia all well for poets to sing OF the
glory of labor. 1t will do for the politicians to
come to US during campaign and shake our
hands and tell us how he loves to shake the
horny hand OF the laborer; but, Is q matter of
fact neither the politician nor the poet loves
labor well enough to labor himself No man
would labor were 1t not for the fact that in la
boring he sees his maintenance; he sees the DOS
sibility OF bringing up family; he sees the pos
sibilty OF accommodating sufficient to quit labor.
Ing True, there are exceptions, but In an
argument we must take the general rule. Let
Us now take man who, having worked for ten
years. worked hard and faithfully, saved every
cent that he possibly could, and a, the end OF
ten years finds himself the possessor OF 5000.
He would like to invest that money so that 4.
will bring him some interest He has not as
yet accumulated enough 10 entirely quit work.
but the little interest that this 81, 900 will bring
him enables him 10 work a little easier He
would be encouraged with the hope that by the
time he has accumulated enough TO live OF the
interest he could quit work. What does the
Peoples PARTY propose that the government
should do2
The Peoples party proposes that the govern
ment shall say TO him who has accumulated
that money, "No, sir; you cannot invest il anu
receive interest for it We will loan money tn
every one that desires 1t free OF charge" The
prospective investor cries out with indignation:
"Why thus severely punish me. Here / have