The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-05-30
VHAT HARM Is DONE
y false Stories in the East
About the West.
INTERVIEW aeeuo,Arso.
- eprsnglieId "Repubiicans' Prsnts
= Article That Il Well Answered
By Herman Chaplin.

~ Herman Chnpiu.
n~r4ng the past few weeks several Of
- busfnsss men OF this city have re-
~s~ed from their financial correspond
- 10 the East clipping from the
v.re6sld. Mass. Republican OF Nay !.
-esrb consists Of an interview alleged
!. have been had ny a reporter Of that
s.-vDapsy with Ralph Alden. cashier OF
- 1ur,ngseid National bank. who re-
s-.slv pssd visit TO Seattle. In addition
= hsving been printed in the Republican.
- snns matter was teiegrsphed TO and
s~rro6reed In the Boston Daily Adver-
-. The standing Of Ar. Alden ans.
~. eharsrfeY OF the newspapers which
s.nsIesed the alleged interview we're such
q sen6sd 20 impress intending investors.
q rsll a. those rho had already made
ssvsstpents here, with the truth Of the
sIIarntions made. and hence the food OF
,-rr4r<s addressed to correspondence
- To show how seriously the credit
y ~ city and It's business men was
ssszcked IN the sppposisitious interview.
!, Z r<produced M }, appeared In the
ys.rfon Advertiser. The head line vas
rHssd Times Out West
ssms Gisrfng Yaisehoods.
s1vesugfeid. May 7s-Ralph Alden. cash.
- 81 the Springfield National bank. has
~ sesurnsd from months trip through
~ wet He made his journey parity for
elaassre and partly In the interests OF
80 people who have Investments in
esstsrn lands and enterprises. The ac-
~ex,ats which he brings back of the imam
- condisioE OF that part OF the country
- depressing In the extreme. Mr.. Alder.
v1rlssd about fifteen cities and towns. be-
e11nzng II ST. Louis and extending across
vtst used to be the great plains. and In
ssnxiy all OF them found a very Distress
= state Of Affairs The older cities.
- q st Louis. Salt Lake City and
- the hard times than is the case all
M the United States. but In Tacoma
- Seattle, Wash. and small towns
throuehout the same state present Tight
- IN the money market and the reac-
- nom the boom Of 1889 and 1888 have
sumbined to produce a terrible state of
sgaiss
when the rush to such places as ae-
sstis and Tacoma Was going on and these
<irss were being built up with their paved
streets. public parks. and in fact ali the
MODERN conyeniences. their credit was
~ and they were able 10 hire labor and
* most Of their work done on promises
10 pay. Warrants were issued for tho
ssms which the city owed. and these
vsgs supposed to be- good al some later
the on application TO the city treasurer.
A Warrington static INV prescribes that
city shall not Issue these warrants TO
sAs extent OF more than per cent OF the
sslusfion OF the property included. and
nskin9 u Illegal TO exceed that percent
~. otwithstaBding this. one place is
- warrants To the amount OF s3iSgoo on
% oDn.eo valuation. II can be easily
IN that the people who hold these war
pAnts have no possible chance of ever
pttinx their money. The Westerners have
sealirod this fact. and have sold their
npsr al pricas greatly reduced from It's
fsce value to Eastern people. The ci.i-
Rns Of uls afflicted towns are now look
nc 10 the state legislature TO help them
Get rid OF their creditors. and II r. ex-
e~cted that when the legislature meets In
he fall II will enact a law giving the
counties and cites the right to use their
iaEos for current expenses. Tbs they
cannot 10 nav. AZ bllis have TO be paid
~ warrants. and nelrly every town has
uceeded the legal limit In the issue OF
shese To make matters worse. there Is
bat little money to use In the payment OF
area
In Seattle. Mr.. Alden says. which IN
~: and 1893 resembied In some respects
New York. with It's rush OF people on the
streets and general air OF hustle. there are
Whole blocks. equal 70 any In this city. va
sant Banks which employed at one time
iHsnty clerks now run with I'VE. and these
are not kept busy. One bank with a cap.-
tai Of sasacoe had only $50. 900 In its deposits.
which eught 10 exceed the capital by sew
srsl hundred thousand dollars 10 Indicate
healthy condition OF things. One man re-
marked that the banks were not earning
eaney enough 10 pay their rents, and Mr.
Alien says that national hank stock could.
~ Do gwen away, for II was liable 20 as
eaaneti by the government. Property In
safsie and Tacoma which had sold for secp
g acre could now be bought for SIS. and
Ne banks which made leans Of - per cent
~ 'ss value OF property IN the boom times
~ row heavy losers on account OF the
nvas depreciation. Merchants are carry
'x tne'r customers on their books. taking
essh Tor what they sell now and hoping 20
felse something later ON old debts. The
sver eenters. such rs Helena and Butte,
sans. are rismering loudly for free silver.
shl claim that the East H. selfish in not
aaitFns with the West In demanding IL A
sax pressfcnt IN Salt Lake city went so
az - 70 say that there would be a reyn'u-
~ this concession was no, made 20 the
~ M, Alden thinks. however. that
- desire fer free silver springs largely
-. a. : Wish 10 pay their debts with a
ssesp dollar"
W.. fhansr-@ re,'s
herman Chaplin. president OF trio Boston
-. .s'esai bark. OF thss city. was among
= gentlemen who received = Ginning OF
- artcle. taken from the Boston sfvsr-
kaowing ;he good renute OF the
ssrer IN whica the article appeared.
teeiins confident that II would come
!. 80 'he eyes OF many people Interested
country. and cause. unnecessary
Nasfaeni and alarm. he wrote an an
80 10 Mr.. slien's article. which Was
- slei N TIE Advertiser May 20, and
'sssn was as follows.
We Editor ~ the Advertiser re-
49,, - 'ccav si'Hnlng from your papsr.
ss..nlrs an Interview WITH Mr.. Ralph
81. % springfield Mass, dated SPRING
nay ana published m your pap-r.
's-ssane. day or two after that,
49, interview with Mr.. Alden. who
.s-sa' letters 20 me and was in \ way my
49,, 49, contains a great many erroneous
-. Ms ans ssel that 4 ~ ane 10 NV
v,.,s :. asop'ien - veil - 70 the many In
-, ,..,s,s throughout New England VITO may
settlements -
49,, Alden had never hen West before.
=, cto saving been previously rs f,irfs-
- western HIATT and. - his stav =, sa,ss
=. vas limited to a very few aays. 7, IS
y ,spf.ssns that his opl MEMS were hassi-
:, NEE lis mission here wAs 20 look
4. az warrants issued By one os
So Nc counties on ~ aicA Some ~ ais
-rs bad advanced money.
nj. - county vas wcli-kuowr TO al ~eo-
~, 70 he one % the Pousiiist counties.
g.. y o away beyond its l.uslg OF snaebs-
-. asc. indes. Mr. Alden found that z
A., - Rns eowriN bat ere broker In Boo
-. -. 80 ssc ehieiy guisrcr-esen:ea the
=. s'ais q ire coausy's aaairs.
- a. neas 81 saw THAT ghe West ha-
hara tines FOR ever,hsty knoN-s
- -. ssesy astsy kuows that Il vii con
-. y pave hard tl-,rs un;N ss,ry.s, ~ ~,