The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1894-12-07

IDEAS set forth By the president e-e 100
much aFEer the piAn OF the 0Aa wsi1 eaf
banking systsn. and IN the main con-
sider il less desirable plan than that
advanced II the recent convention OF the
American Bankers Association and kno =
a. the Baltimore plan
3 81. Alssn. editor Of the P>opi<'s Cal,
ard q Popnlisf iea9e-. The barking plan
spoken O. "a President Giegelsndss mes
cage 10 xGciog. frnrn every stand point IL
e a complete, surrender 81 the sacred rights
Of the people 70 the banks Ii gives them
alone the power 20 initiate or contract the
currency AZ will T ne ueop4e viii be sbso-
lutely poweriess in their hands II such .
ban kiag scheme becomes law. he
method provided for securing ctrcuia-
ton il com plex and cumbersome. Limit
ing the issue ~ bills 10 denominations or
$40 and upwards is a hlow a. tie common
People. xho aant 81, s. and s. bills more
often tnan S2Q consider Il most Infamous
acheme striking at the liberties az the Oeo-
pie AMI tending oniy TO degrade and en-
slave them. We favor the coinage OF both
meias, supplemented BY enough treasury
notes TO enable the people 70 do business
fer cash, and We propose 20 fight il ont on
that line 10 steTnity."
K. II. Lindsay. attorney and Populist:
''Ary plan. Baltimore or what you may
cal II which takes the control OF the
finances OF the country out of the hands
of the government and places il in the
hands o. corporations or individuals, Is
simply ruinous 20 the professional and IN
dastrial classes Of the country"
Richard Wiusor. the Populist leader: 81
am opposed 10 II, arst. because II proposes
the worst system OF tat money yet sug-
gested from any quarter. IfaIl the money
in circulation in the country was invested
in the capital stocks OF the proposed banks
and they should issue the full amount
. I'D trsf cf- lat NO
medium of that class OF nat money 81 .o25,-
60 Oo1 and would take out Of circulation
reliable legal tender money S5gf. 500. 600,
and you'd leave in circulation ST.. 500. 600
of bankers fias. Il il also Objectionable
because 10 proposes 90 rob the dspositor by
creating n nFst lien upon the assets OF
these banks TO secure their circulation,
behind which the banks themselves have
absolutely no security. We Populsts are
absolutely opposed TO the issue of any
class of tat money, either by the govern
ment or any class of money sharks called
bankers. We demand either money hav-
ing absolute intrinsic value or a currency
representing actual produced wealth in
some form that will respond % that car
reney when 1t Is offered in the open mar
ket Ii any more is issued than there is
wealth to respond TO IL is tat money and
dishonest This is NV view, and think
that OF other PopnIists.
COAL AND IRON ORE
President Cleveland in his message
stated that he wished that congress would
put coal and iron ore on the free list. But
his views are not conceded in to any great
extent as may be seen by the appended
interviews:
Robert Moran. president of the Moran
Bros. Company. iron founders II think
there should be protective tariff on coal
and iron ore. as they are among the prin-
cipal products of the states. These two
products have been protected and mark
the result. In Pennsylvania for instance.
the coal and iron industries have so
thrIven under the benefieent influence of
protection that really at present they do
not actually need protection, and the iron
and coal men of that state can now COM
pete with the world. If, however, they
had not been protected, when In the in
fantile state, they would not be the giant
industries that they are. In Washington
need protection now in order that our
infant coat and iron industries should DO
protected. Our mines will have 10 be
opened and furnaces huilt 20 reduce the
ore 10 iron and steel. Capital will not m
vest its money In these vast undertakings
unless they can see profit. and there will
be no profit unless they are protected from
foreign competition. Protection will have
the same effect IN Washington that ID had
in Pennsylvania We do not want free
coal or free iron in this state. Naturally
We expect TO do great things with orr
wealth OF iron. coal and lumber, but II we
are not protected We can do nothing. For
etgn iron used 10 hold this market, but
now We bring IL across the country from
Alabama by rail and land il in Seattle
cheaper than We can get IL via the Horn
from Great Britain. The iron industries
we're tostered and built up under the pro-
teciiye system. Ia conclusion let me say
that | ana strongly opposed TO free iron.
free coal and free lumber the present ad-
ministration 20 the contrary notwith-
standing"
John K. Woleott, iron expert, said !:
'There is more capital invested in the
Lake Superior iron district in mines ma
ehiuery. ore docks. railways and lake
transportation than in any other district
in the world. Free ore means practical
RUIN of this. because on the Canadian side,
within fifteen 10 thirty miles of Port Ar
thur, there are large deposits of equally
high grade ore on lands obtainabls by
lease at almost nominal figures, and the
expense of mining is cheaper than on the
south side Of the lake. About 40 miles
north Of Lake Erie and about opposite
Cleveland il another high grade deposit
With no duty ore from both localities can
be delivered AZ Lake Erie ports cheaper
than IL is possible from Lake Superior
mines in Michigan, Wisconsin or Mime
sofa. the Mesaha range tn Minnesota ex-
copied. Cuban ore. free Of duty. can be
landed at Norfolk, Baltimore or Pnilaiei-
phia az low figures, These latter are mined
with cheap labor. Fee coal means turn
ing over to the Nova Scotia coal trust the
New England trade. Free ore means CIV
log the Standard OH crowd q MONOPOLY on
Bessemer ore east of the Rockies
The cketeller combine now controls the
Aesaha range in Minnesota. Thts is noted
for exceptional ehespness of its mining.
much being done by steam shoyels They
also control the best mines on the VermiI-
ION range. hack Of the Mesaba. In addi-
tion 30 this az is generally understood that
they control the best located lands back OF
Port Arthu r, Canada. The district north
of Lake Erie Is controlled BY Cleveland
parties. who are understood TO be identi-
fed with tbs Standard oil COMPANY. The
Cuban mines are also under control OF the
Standard Ol Company. Puget sound
would be less affected than Lake Superior
points. as Washington ores with reason
shle railway rates. can hold their own
against anv vet discovered IN British CO.
lumhis. Free coal for Washington would
mean that the NanAimo coal mines could
and would furnish enough coal to shut
down every mine in the state"
john VI. Frink. president OF the Wash
inEion Iron WORKS Company: "Free Irou
and free iron ore means the shutting down
OF the furnaces Of the couatTF and the clos
iuE OF 3ron rlftlss, in fact 9th the present
reduction American manufacturers Of piE
iron cannot compete with those OF foreign
I countries We need protection here. Re-
Z cause t4e countFv - new, because money
/ Is scarce. hecsuse labor Is high, and be-
cause our mines are nos sufficiently devel-
oped. Besides sc have not vet the mar
krt iar oar products that che Eastern iron