The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1893-08-07

catIon-It is Expected to Inaugurate
Period of Prosperity "UnparaI.
Ieled In tho History of tho World"
CHICAGO, August e,-slnco the close
Of the silver convention, Mr.. George F,
Washburn, OF Boston, Mass, chairman
Of the eastern division national com.
mittoe Peoples party and Col, A, @,
Fisk, Of Denver, COL, president Pan.
American Bi.metallic Association, to.
gether with other prominent Popullsts
Of tho west, have been in daily consul
tation with government officials, bank.
ers, capitalists and railroad men Of the
west devising a gigantic railroad
scheme OF government ownership
which they think will afford financial
relief to tho country and make at onco
an issue OF two OF tho pct planks Of
their platform. Mr.. J. II, Davis, Of
Texas, who was tho Populists' candi.
dnto for attorney general year ago,
and who during his campaign proposed
a similar plan, is the legal council for
tho Populists.
II is alleged that tho money stringen-
cy has affected transportation 10 greatly
that tho receipts on many western f6ads
have fallen oil fully one-third and that
receiyeFships Tor some Of them have
already been asked Tor, which would
also mean the ruin OF tho commercial
aud industrial interests In every west
ern aud southern state.
Mr.. Washburn, who Is prominent
business man In Boston, tonight states
that most Of the stock OF these roads
WINS hold in Now England, theybeing
Boston enterprises and that the loss Of
dividends aud threatened ruin is rapid
ly changing sentiment In that section,
in favor OF government ownership OF
railroads, as well as for bi.metallism.
The plan proposed is that the ma
tional government shall Issue bonds
ior all legal and Just Indebtedness, be-
ing governed by the same tenure and
contract which now exists. me
amount Ia estimated to be about two
thirds Of the value Of the railroads, and
an issuance OF legal tender treasury
notes Of silver certificates for the re-
naming one-third.
Objection was raised to the Populisls'
plan to pay one.third in treasury notes,
which would greatly increase the price
OF products in the country. but II was
claimed that even though the full
amount Of one-tlIird should be issued,
that sixty-hye millions Of people could
better absorb two hillionl of treasury
notes now than twenty-five millions Of
people did in 1867, and that this issu-
ance OF treasury notes would afford i'm
mediately financial relief and inaugu.
rate period OF prosperity unparalleled
in the history Of the world. But the
Populists do not propose that the gov.
eFnment shall buy all the railroads at
once, but SO gradually that no shock
would be felt in the money market
beginning with the western roads they
would be taken In the order OF their ap.
plication, some being ready now.
Tho Populists say while their party
Is opposed to any new issuance Of
national bonds, no objection could be
offered to the oven exchange OF bonds
which already exist and that tho bonds
could bc gradually paid, aud In few
years the government could own the
railroads. 1t is claimed that plan
would not antagonize exisitng railroad
interests, and that ii tho government
owned all tho railroads west Of the
Mississippi river, instead OF being com.
petitive to othc eastern roads, they would
be distributive and could bc used by
the government to move tho crops 10
the markets at cost, and in this way do.
velop tho resources Of this great west.
esn country and thereby stimulate
trade. Also that uninhabltel sections
could be coloniEod. tho low fares being
an inducement to immigration, and Ia
this way relieve the cities from their
present congested state and provide an
additional market for the manufactured
products for the people who remain
oad inasmuch as commission only
would be needed In each state, the saw
ing OF salaries would be enormous.
1t is claimed that the bondholderl
like .he idea because they would receive
national bonds In oven exchange fol
luctuating railroad bonds OF uncertain
value and would savo the stockholdGrt
from loss.
Tho bankers take kindly to the schemt
because it solves the problem Of how t
get more bonds.
The employees would advocate the
plan because they would have tenure
and stability Of employment, anc
through election and civil service lawt
be able to protect themselves agnins
injustice by superior officers as we'll a
against removal.
II is further alleged that merchants
aud shippers favor the plan because
there would be no discrimination II
transportation ratos in favor Of trusti
and syndicateS, and that It would 70
duCe tho aggregate oil txod charged
fully one third.
The farmers favor Il because thol
would got freight rates which woult
not be all tho "traiIic would boar" ant
thereby absorb all their profits.
Mr. Washburn will leave for Wash
ington tomorrow to have the matte
presented TO Congro1B and to gocure tn
support OF western and southern con
gressfnon.
We'll Known Nun Married.
srsciai Dispdieh TO hs hiieiIgnes
FAIRMoyr. w, VA. August 0.--Nfr