The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1894-06-13

Distinguished Visitor Talks Hcness
Money, Business Revival. ship Canal.


William T. Baker. who was president Of
the Chicago Board OF Trade for two terms,
and is recognized as one OF the leading
political economists OF the country. IS here
on visit 10 his sons, Charles III. Baker
and Howard W. Baker, at Brighton Beach.
and is devofing his time 10 fishing princi-
pally, having come here on vacation.
Mr. Baker is one of the leading citizens of
Chicago and was for two years president of
the Worlds fair, and nas for several years
been delegate to the National Board of
Trade.
This is Mr.. Bakers third trip TO the
Coast. The first time was soon after the
completion of the Union Pacific road about
1855. when he came overland with party
Of young men from Salt Lake to Portland.
There were no. even any steamers running
on the Columbia river, for the June freshe.
was aSoat AZ its height and the river " as two
or three miles mide at Umatilla About
eight years ago his two sons. who had just
graduated as engineers. came out 70 take
charge Of some of the construction on the
Seattle, Lake Shore d Eastern road and
built the trestle along the water front. and
at the time OF the IRE he came here on a
visit 70 them. Thus he talked with knowl-
edge when he said in an interview with
PosT-ISTELLIGE SCKR reporter:
II am an optimist on the outlook, espe-
cially for this place. When / was here
five years ago and the town was in ashes l
made the prediction that twenty-five years
would see this larger city than San Fran
cisco. do not know that / am an in
spired prophet and may have to ask an ex-
tension, but / think that is the uiti-
mate destiny. The people here seem to
have the same sort of energy and resources
as the Chicago people, and it always struck
me that this was the natural location. This
town was started here without any artiti-
cial stimulus and there is no other town
on the Coast of which that could be said
except San Francisco and Portland. San
Francisco has q fine harbor. but do not
think il has the natural resources back
Oft.
"The people OF this country want to be
very careful of their credit in order to
invite capital to develop Ii. They should
not eyade the payment of their debts, for
the credit of Kansas has been ruined by
the difficulty of collecting them. You do
not want to encourage Populism or the
free silver heresy. and from what / can
Judge they are not doing so. Your people
seem to be sound on these questions.
az believe in the ultimate freedom OF
trade under a tariff which will raise only
enough revenue for the necessities OF the
government The government should
keep its hands of, for its business is
simply to keep order. and should let the
people work out their own salvation. Ii
congress would stop legislating on money
and meet only about once in ten years 1t
would be better for the country. | am
Democrat because I look to the Demo-
cratic party to work out certain principles,
and believe In freedom of trade, but
honest money Is more important than
anything else because il Is the foundation
of credit. Bi-metalhsm Is the progeny of
another heresy, greenbackism, which cost
this country hundreds of millions of dol
lars.
"If congress would act promptly on the
tariff bill and then adjourn there would
be q prospect for an earlier revival of BUSH
ness than We have ever had, after so severe
a panic as we had year ago. The stocks
of manufactured goods are everywhere
very light, and even q moderate demand
to supply the general necessities ofsths
people would start things going IN very
encouraging way. The few senators and
congressman who have been blocking
legislation to serve their own private in
terests have an awful sin to answer for.
"The very best thing that could be done
to bring about an early revival Of business
in this city is the building Of the Lake
Washington canal. Instead of waiting
for an appropriation from congress you
should bond the city or county and build
1t by local enterprise, trying to get con-
gress TO indemnify you for il afterwards,
1t would be better stili to build II as pri-
vate undertaking, without looking to con-
gress for any help. With the great bodies
of coal and iron tributary to the lake, its
shores ought in few years 10 be lined as
thickly with factories as the Ohio and
Monongahsla rivers at Pittsburg. 1t
would give this district such an impetus
that it would be q paying investment,
even If you never got back any of the capi-
tai expenditure from the government"