The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1892-07-20

trsde-fallen, tattered prodigais, discarded,
| unjust serving men, such as indeed were
never soldiers
The ordinary solution for the existence
of the Peoples party" is that it is the ex-
preston OF disconnected because disap-
pointed men. This solution is not sutf-
cient; il is discomfort. but il is the dis
content of ignorance and stupid maievo-
lence. The charge OF ignorance cannot
be evaied by naming the accom-
plishments OF some of the deEa-
gogges and adventurers who lead
the party and minister to its madness.
The ignorance Of the Peoples party is
that worst kind OF ignorance which mani
tests itself in bitter contempt for knowI-
edge and the teachings OF human ex-
perienee.
Take the howl for plenty of cheap money
and the endorsement OF that stupid scheme
OF class legislation which proposes that
the government lend on nominal interest
the money Of the whole people TO certain
| impecunious classes of the people. The
experience of history and intelligence OF
both Europe and America IL agains, such
a resurrection OF iUnaiic finance. Il has
| been tried in various forms by every peo-
pie of Europe from the days Of the ancient
Greek iawgiyers Scion and LycUrgQs,
down to the first French republic OF l7s9; il
has been tested Dy the United States from
| the days of the American Revolution down
| 10 the civil war of lS6l-65. The green
back" during the war and the Confederate
currency taught exactly the same lesson,
| so far as cheap money and plenty of 1t are
concerned, as the Continental currency,
the French assignats, the land bank
schemes OF Michigan. Mississippi and
! Alabama, and the paper money indasion
that forced the panic OF ls3T.
| The utter fa!lacv OF cheap money ex-
| periments vas set forth l79 years ago by
| Dean Swift, whom Taine rates rs perhaps
the most powerful and original political
! thinker Of the eighteenth century. In
l722 one William Wood, hardware
merchant, obtained from the British
crown paten, 10 coin copper money
| for Ireland TO the amount Of fl0s, oo1.
He had no power 70 compel any one 10
take his halfpence which he coined IN
| der this grant and sent to Ireland; and
| when large batch Of them arrived there
the people refused 10 take and use them
| as money. They We're made OF such base
metal, and were 50 much smaller than the
| English halfpence, tbs; they were worth
| in gold or silver not more than twelfth Of
| their face value. When the Irish people
| refused 20 accept them as money. there
| wss talk OF Woods obtaining orders from
/ the crown con-pe.ling the kings commits
| sioaers AMI collectors Of customs N Ire
/ land 10 take them as money, and thus
I force them into circulation.
Swift prevented this by publishing 8
/ series Of letters addressed 10 the trades
men. shopkeepers and common people in
! genera! or the subject Of debasei coin. and
/ his arguments against the folly Of debased
or cheap money, made 10 years ago, apply
! perfectly 10 the proposal 10 inaict on the
/ American people a debasei silver dollar
!. worth only g. cents. Il vas urged in de-
/ Tense of Woods money that copper half
! pence were scarce in Ireland; thar the peo-
/ pie needed more copper money for the
! transaction of their business; and that if
| the supply were greater everybody would
be more prosperous. This IS exactly the
! plea offered for tidal wave Of cheap de-
based silver dollars today. Here IS what
| Swift said in references 20 this scheme Of
| plenty OF cheap hsifpence and its effects
! on the people OF ireland.
Mr.. wood wall never be ST rest. bu: coin on,
e. tear In some years We shah have al lessl 6vs
/ times four score AIt zen thousand pounds OF
/ this lumber. Now TIE clr7eat money Of this
Kingdom Is not reckoasd 10 be above .sl0. 600 IN
/ al. an3 while there Is 8 silver slxpeace these
3 Hood smokers ". II 0ever he quiet When once
! the Kingdom Is reluces - sach s. eond ton |
( VIII tell y9u waat must be tAs end: The gen
y teulea ci estates VIII a., turn ct their tenants
+ Ter want Of payment. because thv tenants are
/ obased ~ tcesr leases 20 paw sterling. which
| 5 lSwfG. current money o. ENGLAND.
then they win tuna the.r own farmers. run all
iutn sheep weers thew csn. keeping oasy saeh
| ot2er cattle Is are Necessary; tAel they will ne
| their Own merchants. and send their WOO. ar1
! batter Sn2 hisSs an. linen ecyoni sea tor reacv
/ iaoaev and wines ana spices sud SKIS TIE
! farmers must ron or beg O. cave the country
TIE shopk sepe-v IL this sn1 every other town
must treSk sud s,Srve. tor IL Is Ire lanaed man
! thSt nssnta5 rs the merchant. and shop keece~.
sua aSndiessttsmsn. should never have done
Il wee - t.. ycG all ;Ae rnise-ies that we
/ shall undergo Is We sS 50 .oCllSh aa1 wicked IS
10 take ihss curSet coin.
The same financial fsl.scy was EXPOSED
hy Carlyle in his denuncia,;on Of the
assisnats which were issued il France
between 1879 ana I79S These were in the
form of paper money. based at 6rst upoa
the security at connscated church lands.
ana afterward upon all the national
domains and other property. They We're
issued ~ the amount e over foVty-5ve
| billion francs. and before they were with.
! drawn deprecated 70 less than one three
! hundvedth of Eheir face value. CARLYLE
records tha, = hackney coachman in Paris
! demanded 6.orp livres tabout S.. 500 as fare
for a short ride in the last days OF the
aSsicnats
II any land hank scheme promised well
for success It WAS this aSsignaf issue ~
France, for practically a. the land 81 rich,
fertile, industrious, economical and popg.
louS France was security. The Republic
by is eoodscatloa Of the lands 81 me
church. the lands Of the throne anG the
aFsstooraey practically came 70 be ;he
owner of nesriy 81 the land in France.
for al that time small peasant peopyietors