Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1895-01-18
PLAN OF SALVATION.
AS STATED BY LEADING POPU-
LIST.
EIe Proposes 10 Manufacture Money
in the Form of Relief NOies''
and Loan Them at Two Per Cent.
OnApprOVed security.

EAe Proposes 10 Manufaeturc money
in the Form of s.ReIief Notes"
and Loan Them at Two Per Cent.
onApproved Security.
YELM, Wash, Jan. 9, 1894.
ED. STANDARD:
! see 10y your last issue that you
solicit the opinions of all parties as to
the best means of adjusting the diff
culties under which we have been
placed by gross Acknowledgement of
our finances. AS one of the interested
parties, l hereby assume the RESPONSE
bility of making a few suggestions, al
though | have never been in Congress,
showed quill in an editorial sanctum,
or held the office of road supervisor.
Of course, being a Populist no doubt
detracts somewhat from my ability to
suggest anything for the good of the
commonwealth. but you must take it
for what it is worth.
l take it for granted that money is
the great instrument of association
the very fiber OF social organism-the
vitalizing force of industry, the proto-
plasm of civilization and as essential
TO its existence as oxygen is to animal
life. Without money, civilization
could not have had beginning and
with a diminishing supply it must Ian
guish and, unless restored, finally
perish.
Falling prices and misery and desti-
tuition are inseparable companions.
1t is universally conceded that falling
prices result from the contraction of
the money system" So says the
monetary commission, composed Of
nine prominent statesmen appointed
by the government, Aug. Is, 1876.
These facts being conceded what are
We going to do about it? Our State is
financially bankrupt; thousands of
able bodied men are working for their
board because there is no money to
pay EN-; SO per cent. of our taxes are
delinquent. Thurston county alone is
bonded for $3.50, 800 and many OF our
best business men are on the verge of
bankruptcy. No wonder that the
leading men of our cities are calling
meetings every week to devise means
of relief. 1t seems to me our course is
plain and the remedy simple. What
10 we need more than anything else?
MONEY. Then let us make it. Oh,
don't get startled! the like has been
done successfully and can be done
| again.
Let our coming Legislature author
ize the isue OF "relief notes" to the
amount of $40 per capita, bearing sim
ply promise that they will be re-
ceived by the Treasurer of the State in
payment of all taxes and other obliga-
tions due the State. Let the banks
insert in the front of their books an
agreement that the depositor shall re-
ceive on check the same kind of
money he deposited and then take
these notes. Let these notes be
loaned to parties. desiring them in
sums not to exceed ST. 600 to any one
person or corporation, on approved Sc
curity; said notes to draw per cent.
per annum, one-twentieth OF the prin-
cipal and interest payable annually.
In this way the notes would all be re-
deemed in twenty years and the State
will not have lost dollar. These
notes being receivable for all debts due
the State and based on the whole re-
sources of the State would pass readily
as money anywhere within the State,
because the faith of the State would be
pledged for their payment and the re-
suit would be that the wheels of in
dustry were set in motion by these
notes. The State will pay her domes-
tic,creditors, and these will hasten to
pay theirs or to supply their wants by
purchase; crops for which there has
been no market will be moved; labor
lifted from despair will find work and
wages. We would soon be exporting
more than We import. Gold and sill
yer, as usual when not needed, will
flow in upon us and we would have
better times than we've ever had be-
fore. 1t is all nonsense for us to
whine and SWIVEL over our troubles when
we have the remedy at hand. con.
tend that our State is second to none
in natural resources, but they must be
developed and it takes money to do it,
but we haye displayed to the world
our lunacy by borrowing gold Of the
Eastern plutocrats at usurious rates oil
interest instead of adopting the plan
here proposed and coming our own
gold out OF our own credit.
If any man has a better plan than
this let him "trot her out"
J.C. Cos.