The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1894-01-18
AN OBJECT LESSON ron NEW
STATES.

Popniism Is clearly dying ont in Kansas.
Colorado and Nebraska. Gov. Waite, of
Colorado. called a session of the Legislature
in defiance OF public opinion andfs is likely
TO ADJOURN without ensctins any of the
absurd demands of Gov. Waite. Colorado
has learned something during the past
year that she will not soon forget: she has
learned that new states that need to bor-
row money for development of their re-
sources cannot afford to tarnish their own
credit There was time when the con-
sentative money lenders of New England
were perfectly willing to lend money at 9
per cent to borrowers in Kansas. Nebraska
and Colorado. Since these states have
been swept by the wave of Populism and
their legislatures are disposed "a enact
laws intended TO cypress the creditor the
money lenders of the Atlantic sea-
board states are not disposed 10 make
any new loans and refuse to re-
new old loans on any terms. These
money lenders say that they have
no confidence in the security OF invest
ments made in states that believe in s'free
silver" and paper money imitation; that
send senators and representatives TO con-
gress who favor ''free silver" and infia-
ton and in most inaammatory language
denounce Eastern capitalists as 'Gand
sharks" and railroad pirates"
II is entirely natural that capital should
dislike to be ssigmatixcd A. q scoundrel,
thief. blood-sucker aud . pirate, and
should decline TO lend money in states
whose Legislatures snac. snti-credltor
legislation, IS has been done by Kansas
and Nebraska The practical injury to
the credit Of their states that has been
wrought by the PETERS. Stewards, simp.
sons. TeIlers, Wolcotts, KyIes es al.
through their persistent rant in favor of
'free silver" and their stupid denunciation
of capitalists as ''goldbugs" has become
80 apparent that all these states
which were swept by the PopuIist and
Democratic fusion in November, 1897,
were carried by the Republicans in No
vember. 1891 The people of those states
who own any property and who have any
occupation beside listening to the strident
have come 20 the conclusion that it does
not pay 20 be popnlist blatherskite at
the expense Of your pocket Political
theories, the threat of whose enactment
ruins the business OF ths country, are not
Likely 10 DO long popular. and these new
states that are obliged TO borrow Ii they
expect TO grow are beginning to fnd out
that capital has blackiisted those states
whose governors, senators and congress
men are financial fools or knayes, or are
inceudiary demaEogues who procure legis-
| lation that Is oppressive to the creditor
and capitalist class.
The city of Denver was recently made to
feel the haFm which . crank in the gov
ernor's chair can work = city. Negotia-
| tions had almost been completed with a
| firm Of New York brokers for the placing
OF an issue OF $4oo. eco bonds for public i'm.
| pFovemsnss, when Gov. Waite's call for an
| extra session OF the legislature appeared.
/ Among the subjects which he suggests for
| action Is a proposition 10 repeal all munich
! pal bond laws now in existence. and issue.
/ instead OF bends, certificates of small de-
| nominations 10 circulate among the reo-
/ pie IS currency. As soon as thi, scheme
I became known in the East, the banker,
/ Who had been nacorres pondence with the
| city treasurer Of Denver about the siesl go
issue notified him that they were M longer
wiling 70 make 3 contract, az ths gov
srnoE's action in the special session causes
/ So mach adverse criticism
/. IS safe 10 say that no new business
! transactions will he made by Eastern
| ananeiers with any Colorado interests
anti after this special session cal lei bv
/ Gov. Waite sdienrns. These Eastern
capitalists Disseminated against Colorado
sad net against the West generally, 70.
Salt Lake Cay recently placed in New
1cFk large amount OF improvement.
eoads ~ par, and Seattle has placed her
beads in Sew YORK on fair terms. Ths
business Eien q Colorado have had their
eyes rudely opened 20 theiE e!ua3er in thu
matter of fire, silver" fool and kaave
finance, and they ara no. srying % choke
OF "Mo0ty BsiJ.es" Waite. whose popu.
isss r&y.ass had began to make capitalists
shy Of Colorado investments Those
already interested in the states IN
sasigies began to hedge; Business
houses q every kind throuxnous the
( leaoa began - draw she Lines tsrat.
and the general psnch soca became revere.
! The business meas Convention a. Denver
denounced Waite and the proposed extra
sessaoa, snd committee appointed 10. shA
I purpose has recently issued statement 81
the condition, resources and prospects %
/ colorado, Tais statement closes hy al
sasszs CIV. Waite 10 step ia Popaass