Idaho County free press. [volume] (Grangeville, Idaho Territory) 1886-current, 1893-06-09

FINANCE.
1t Ia said that An opinion is steadily
gaining ground that free coinage of silver
at the ratio of 20 to l would be the best
solution Of the silver question and would
be acceptable to the silver men a. great
relief to the present condition of things.
The people Of Tacoma and Pierce
county are evidently in a bonding mood.
In addition to the bonds OF over $1,000
600 for the purchase Of the light and
water plant, Tacoma has already voted
to issue bonds to the amount Of $500, 900
for sewer purposes. Now it 10 proposed
to submit to voters of Pierce county q
proposition to bond the county for $780,.
600 to take up the current floating indebt-
edness of the county and to take care Of
current expenses.
Seattle Telegraph: We think that
some Of our contemporaries lay too much
stress upon "chcap" money. Money 10
cheap enough now in the great business
centers, that is. the rates OF interest are
not high. There is less money per capita
in circulation in England than in this
country according to the latest returns.
The difference 10 not great but it is in
favor Of this country. Yet interest is
we're more abundant there would be
more business done and borrowers could
better afford to pay interest than they can
10 n 4
in boom times.
Seattle Telegraph: The Boston Herald
estimates that the National banks
hold about $4,000, OGO Of gold in
their vaults. Practically every dollar
OF this would be handed over to the
secretary of the treasury in exchange
for United States bonds. Many persons
will wonder why the bankers do not use
some of this gold TO meet the foreign de.
mand, instead Of calling upon the treas.
ury department to find the yellow metal
for them. There seems to be something
radically wrong in our financial system
When the banks Of England, France or
Germany are losing gold too fast they put
up the rate of discount. On one or two
occasions the bank Of England has re-
fused specie payments, and yet trade in
England was not paralyxed. Do we not
make fetch Of gold in our financial sys-
tenn?
Philadelphia Ledger: The credit OF
the United States 10 30 fair and strong to-
day - to enable the treasury to cell it's
bonds to the very best advantage. A 4
per cent bond will be eagerly accepted
abroad, and ito sale will replenish and
maintain the gold reserve upon stable
foundations until such time 40 the gov
eminent shall, by legislation more
honest, wise and good, reduce expendi-
lures and increase revenues. The sale
of bonds should be the inevitable
sequence Of the secretary's order for the
suspension OF the issue OF gold certii-
Gates.
Portland Dispatch: The "multitudes, -
Of whom the Oregonian speaks as be-
lieving that money should have no COM
modify value, are not an ignorant and
visionary class Of people but are ahead Of
their fellows, in thought and reason, who
still cling to tho antiquated notion that
money must have an intrinsic value. II
is doubtless quite true that the world, OF
even this country, is not yet sufficiently
advanced in civilization to successfully
adopt paper currency, and, therefore,
the wisdom of advocating the immediate
s9option of q full legal tender paper
money az the sole substitute OF our pres
ent medium Of exchange may well be
doubted, but few more decades of pro-
gross will bring US to this point. The
further we become removed from bar
barism and suicidal selfishness the lees
necessity we will see for intrinsic value
in money.
Louisville Courier-J ournal, Tho prop.
osition to establish government ware
houses or subtreasuries where agricul-
tursl products might be deposited
money borrowed thereon was de-
nounced generally as .preposterous.
The discussion OF the idea did not
strengthen it; ON the contrary, it has
ceased to be living issue, and has been
almost forgotten. What the government
refused to do for the farmer 1t has done
and 10 doing for the silver miner. In
deed, 1t 10 doing more for the miner than
any representative Of the farmer ever
dared ask. Instead Of receiving the sill
yer on deposit at the owners risk, the
government actually purchases all the
product OF the American miner with the
avowed purpose Of keeping up tho mar
ket price.
New York World; The sscretary's re-
lance for the maintenance Of the cold re-
serve is upon the Western banks and the
people who have been uselessly boarding
coin. He very truly says that there is
not gold enough in the country to meet
all the requirements Of the situation.
But it has become evident that some oil
the banks in this city are holding on to
their gold in the hope of forcing an issue
of bonds. 1t 10 perhaps useless to ap-
peal to the sentiment OF patriotism in
such matter, but those who hoard gold
for selfish object cannot make an effect
i've appeal to the treasury to help them
in their speculative purpose.
Seattle Post Intelligencer: While Gov.
ernor Mcconnell, Of Idaho, was presiding
over the free silver convention at Ogden
the sheriff took possession of all the gov
errors property on attachments. Nc
Connell was q speculator, and went
broke. He asks the government to ap
ply his business methods to national
affairs.
POLITICS AND REFORM.