The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-09-22

The paving of some OF the principal
streets win put thousands OF dollars into
circulation and afford steady employment
FOR a number Of men for some months. 1t
r. generally recognized by labor organiza-
tions as a welcome addition 20 the other
Industries OF Seattle. But II could never
have been accomplished at this time ex-
cept by resort to the bonding system
against which there is such an unreason-
ing prejudice. The people of this city
would be utterly unable TO bear the heavy
expense had they 10 bear 1T now. and II
would be out OF the question to ask labor
ing men 10 do the work now and wait ten
years for their money.
At this stage. the capitalist appears. lie
ss not one person. but a large number.
having small sums OF money saved up. lie
may be an old lady IN New Hampshire
with a few hundred dollars derived from
Insurance on her husbands life He may
he an orphan whose small inheritance is
seeking profitable employment for his
maintenance until he is old enough 10 put
u to use with his labor. lie may be
school teacher in Western Pennsylvania
who is putting by little for his old age
md considers the credit OF tho city of
Seattle better security than a bank. These
people are the capitalist.
He saws in effect The people OF Seattle
want local improvements made. the labor
ing men Of Che city want employment The
one cannot afford to put ont the cash. the
other cannot afford 10 wait for mis- nay.
a. the city. which can then employ labor
nnd for The consideration Of Z or $ per
cent | viii give them the use OF the
money. The lsborcr viii get employment
and cash. and VIII wal, tn the property
owners can afford % repay me I ask.
however. for an assurance that shall
set nay money back. and fair return for
the advantages It's present use viii give
you.
This seems reasonable enough. and hene-
,fcal 20 the three parties 70 the contract.
tsut in stems the financial rcgorner. ana
says: am opposed 20 bonds repayment
and interest am i'm favor az repuaia-
ton when the time Of repayment comes.
The capitalist shrues his shoulder. walks
away. and determines to pat his money
into enterprises in cities where tho people
arc honest. lie Sc STOPPED by the common
sense ~ tho people. which assures him.
Fay nc attention 70 these Visionary
erankS. We need the improvements. cur
men need employment; lend ms your
money and YOU may take our word for il
that as the years roll around We VII re-
rsy you.
Thus an arrangement % mutual hene-
81 Is entered into. Property Is inbrovid.
the city gains in reputation for enterprise
end fair dealing. the lahorsr finds en-
Payment and tie GA lady IN New IIaup-
shire. she minor ana the teacher get
fair reward for their frugal.ty and their
rsk
We hav~ incurred obligations 81 this
Kind before. and We have not redeemed
them IS promptly as we ought W. have
not always called Them bonds. but W
have put our municipal seal 20 them.
caused ;hem - - signed ~ our mayer
and countersixned by our city clerk. On
Their face they look as much like prom
fse 20 pay IS check does When a check
- made oUt. "psy u tie order 81 50 aud
So honesty rresuues that there viii -
money in the hank . The drawers credit
70 meet IL T. does no, 'n specific terms
sav. ~ promise - pay" bat th> raan who
does not honor 81 s. looked upon as a
rogue
II IS not tie workinEua7 Who rc9aasatss
these obligations. y tbs citv ~ has al
wSvs voted - redeem obligations Tor
which IS citizen ard taxpayer be s.
rroportonateiy responsible. Il Is she
rroperty-owner Who too often takes al
vantage or LEGAL technlca'iros 20 escape
payment Tor Improvement 10 his property
and thrusts tire liability hack upoa his
fellow citizens or leaves the old lady. the
miner and the teacher 20 whistle for their
moaey. GveEy nan has = 1854, - aeEcst