The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-10-10

The Populist states have suffered greatly
by the refusal Of money lenders 10 renew
mortgages on Western farms and city lots.
The following notice is published as hav-
ing been sent by the Proyident Trust
Company 70 its agent in Great Bend, Kan:
I'VE are closing all our Kansas business
rs fast as loans mature, and an extension
Is out OF the question. Almost all COM
panies doing business in Kansas are pull
ing oEt as fast as they cannot for want
Of business, but for the reason that the
legislation. sentiment and general artsg-
onsstic feeling toward loan company Is
vicious and vlndictive. Kansas loans will
not sell in the East because the confidence
in them Is all gone.
Other Western states are suffering from
this same loss Of credit. either because
these states have enacted laws hostile to
capital, or have refused to honestly enforce
laws for the protection of capital. or be-
cause they have voted strongly with the
Popuiist or the Democratic party. The
greatest number Of bank failures this year
has been in Kansas, namely 81 Next In
number il Illinois with IS, and then Colo
RADIO with a., and then Indiana with IL.
and then Wisconsin with 81. But New
York. though the largest state in the
Union. had only q failures, Pennsylvania
only IS, and Massachusetts, only 8. No
other state IN the Union had so many bank
failures as the five Western states Just
named.
Illinois elected Aitgeld. socialist and de-
fender OF anarchists. governor, and also
elected number of kindred demagogues
to its legislature. Colorado is honey.
combed with Populism of the kind
emitted by Bloody Briddles" Waite. In
diana has an evil reputation for official
corruption and dishonest finance. Wis
consin's aggregate of liabilities of banks
failing was larger than any other state in
the Union. having over Sii, 800. 900 reported.
California had more failures in number
than any Eastern state. though only
twenty mine. but in amount of liabilities
of banks failing IL was close TO the top
with sl2. 10000.
II Is significant fact that these states
went over to the Populists or the Demo.
Gratis In the election last fall. The Popu-
list temper was so manifest in these states
that men who had money invested in
them began TO draw IL out. These West
ern states owe their prosperity and
growth largely to the use of borrowed
money ana the inhabitants OF these states
who owed their farms and railways to the
investment of Eastern capital have seized
every opportunity to make war on this in
vested capital of the East
The whole purpose OF the ''free silver
coinage movement is to swindle the
money lender. The legislation in Kansas
has been shamelessly unjust, as it has
been in Colorado. In the other Western
states named as fast as the Populist or
| Democratic party has secured control of
county governments or of the courts or of
local authorities 1t has used its power to
plumber men whose investments or loans
have been the basis of Western prosperity
! The natural consequence is that these
states are all beginning to suffer
| the retribution visited upon Cali
| fornia when she enacted Kearney-
ism; capital begins to take to
| flight: the silly socialists and ignorant
| Jewellers who govern the Populist and
| Democratic parties have wrung the neck
| of the goose that laid the golden egg, or
forced it to wing its way TO other states
California lost terribly by the Kearney
craze the flight of capital after the
| kearney Legislature had done its work was
general and vast and 1t stopped. IL 1t did
not turn back the hands on the clock" for
| San Francisco at least twenty-five years.
| When the false theories Of money are
adopted BY successful political parties the
confidence of investors becomes DESTROYED
and they exercise right which the might
/ OF stupid maioritles cannot rob them of:
| namely, the right of ltght. For this rea-
son the states which have suffered worst
are those in which injustice to investors
and capitalists has been most conspicuonsly
manifested. The farmer OF the IVES. has
been able 20 buy land and implements
with very little capital aud has established
/ himself easier In business than the store
keeper. through loans which were based on
confidence in the stability OF the currency.
| faith in agriculture and the farm. The
| Western farmer is of all men the most in
teres,ed IN the preservation OF confidence
/ on the part Of the Eastern money lenders.
without whose help the farmers OF the fu.
| ture cannot get start