The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-06-09

nisLxADIxo RESOLUTIONS.

Tie resolutions adopted By the FACING
Coast Council OF Trades and Labor FEEDER
stiosss on Tuesday are proof that Whist
lahsss badly needs in this country 10 intel
lges.t leadership. The financial resoiu-
tioa Is nothing bat reiteration Of the
Fas.aers' Alliance and Populist idea OF .
government loan on nominal interest TO
stssas. counties. municipalities and school
Districts ION approved bonds Of the same"
II does seem as il people ought TO know
BY this time that the government Of the
Un:sed States does not lend money to the
pesy,le; il sometimes 1orrors money Of the
people to pay the expenses Of the nation.
o. Il did through the forced loan repre-
sensed by the issue Of legal tenders daring
chs war.
Ordinarily the government resorts to
taxing the people TO support the govern
men.. but the gigantic expense Of the civil
was coald not be prudcntly met immedi-
atsay by enormous taxation, so the gov
sramcnt Was compelled to resort to the
legal tender issues. which were practically
. fi,rced loan OF course nobody familiar
"tsse present business depression IL caused
By lack Of circulating medium" There
II circulating medium" enough; it il not
aaacstion Of circulating medium" at all.
bai question Of collateral. When good
collateral IL scarce money Is scarce in the
pockets Of persons who have no collateral
b. offer or credit that does not rest on .
Saghank.
II the Labor council would like to know
what ''ths present business depression Is
csnssd by" Ne can assure them that IL Is
dsls chiefly. II not entirely. to the election
OF Grover Cleveland. This depression of
business did not exist last year: IL IL not
die to any lack Of currency; 1t began with
tbs election Of Grover Cleveland In
November last and has been slowly but
surely Increasing up to date. That cleo
ssen created condition Of doubt and un-
certainty - TO the future character Of our
tariff policy. and il 10 this that has wet
bIankstcd" and chilled Ill the life out Of
business. This depression In business will
continue until it, cause is removed.
When tho capital OF the country,
whether engaged in manufactures or pro-
Gaction Of raw material. knows cxatly what
Ii can count upon for tho future in the
matter Of tariff legislation then and not
ill then will capital cease to hug the har-
for and venture once more the high seas
Is trade and commercial venture. The
votes of labor helped to elect Cleveland on
tne stupid plea that protection did not
s:ssct wages, because they were fixed and
maintained by trades unions" Labor be-
gins today to feel the depression in business.
has instead of seeing 1t is the inevitable
consequence Of change of administra-
ton with its impending threat Of revo-
Hutton in tariff legislation. labor talks con-
serning depression In business due TO
lack of circulating medium" 1t is due to
Ia. natural and prudent refusal Of capital
tn sail far from shore until they know Jus.
what the weather Is TO he.
Everybody in business on a large scale
takes In sail when they cannot tell whether
the clouds merely hide a glorious sun or
whether they are dark with. coming
STERN Of devastating wind and rain. This
uncertainty affects manufacturers, pro-
'3utcrs. banks, etc. and until il is dispcilesi
depression, or rather hesitation, in bust.
less will prevail