The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1896-11-01
A LUMBERMAN'S
VIEWS ON SILVER


viii N our Republican institutions are
built The serpent Of state rights had
lts slimy carcass crushed In the sixties,
and It's hydra head should be branded
as anarchy wherever II appears The
question Of what money we shall use is
vital one. our national honor and
prosperity largely hinge upon our de-
cislon. am not surprised that the young
and inexperienced leaders OF Dem
ocracy 20 10 bGrbarous China and half
civilized Mexico for their instruction.
Like the newborn babe. they do not
know where the school house Is.
Let the man who says the depression
In business is caused by lack bf money
tell US how we got along 30 well In 1873
with 1850 per capita in circulation.
and NO poorly IN 1893 when we had s23
with enough unused money In the treas
ury TO make II up TO iS4 each. In addi-
ton 20 this the brains OF the bankers
have been busy and have taught US
how TO do business without much mon
ey. Lack OF confidence prevents money
being used. My yesterdays Tribune
contains two bank statements--one
bank has IS per cent OF It's deposits on
hand. the other ~ per cent. This Is far
above the reserve usually carried. In
fact. nearly double Thirty years ago.
the same as now. we. with others. were
manufacturing lumber IN considerable
quantities by the carload into nearly
every western state. All the pay for
this lumber was In bank bills sent by
express. Railroads and stages carried
II. This Is the way business was done
all over the United States. Tax your
Imagination and tell us how many mil
lions were thus absorbed In transit do
ing no good whatever while the express
companies built up great fortunes in
carrying this currency. How different
now. all debts are paid in bills OF ex-
change. drafts or checks. No money
comes 10 the business man by express.
The banks ship some 10 protect their
balances. but the business man uses
but little money and needs but little.
except 10 pay his employees. Tell me,
II you can. why interest has dropped in
thirty years from ~ 10 6 per cent?
When wheat Is GO cents a bushel. we
can say there is too much OF II. When
lumber costs $40 per 1000 feet and will
sell for only IS. we know there is too
much manufactured. Thus. figuring
from effect to cause. Is II not plain that
money In proportion 20 the business re-
qulrements is steadily increasing?
Now. II these things are true. why
do We not have good times? We did
have them until the Democrats came
into power. and would still have them
II the tariff laws had been allowed to
remain as In good Republican days
Men, money and property have been di-
verted to other countries because Of IT,
Upwards Of $1,000 men are said 10 have
gone TO Canada from New York state
alone. TO manufacture lumber In its va
rious branches. Mills have been re-
moved and the lumber industry in this
country has been paralyzed. Other in
terests have suffered as badly. but the
effect on the lumber interests brings II
home to this community with terrible
force. 1t is a fact, that a stranger
knowing nothing OF American history.
could take the commercial reports and
by the failures fix the date very closely
when the Republican party and the ma
tion parted company. for the wreckage
OF once prosperous business monu-
ment is erected TO commemorate their
damable stupidities, 1t should be
mountain OF broken hopes and foun-
tain OF tears. Mckinley and Hobart is
the watchword. Our country prospered
under Republican rule. SO let us try it
again. GEORGE NJ. PAINE.
Oshkosh, Wis.