The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-10-23

snanded the premium that has since PRE-
vailed"
That Is the refreshing part Of the en-
tire appeal. and In calling attention 10
this truth the Post-Intelligencer is i'm
pressed with the belief that the state
administration forgot for the moment
its previous policy OF promoting the
Popuiist cause By prevarseatIon.
There Is great deal behind this
question OF state warrant values. Never
In the history Of the state, until after
Mr.. Bryan's nomination TO the presi-
dency by the free silyerites. did state
warrants go below par, and then they
dropped from premium OF / and 2
cents to as low az 30 cents After Mr..
Bryan was defeated the price advanced
10 par again. When the last Populist
legislature met the large brokers OF the
state conceived plan of forcing down
state warrants for their own personal
gain. and when the member endeayor-
ed TO cash their warrants they were IN
able TO do so without a discount. IN
retaliation. the Populists conceived a
plan of appropriating sufficient funds
from the tide lands fund, which had
accumulated under the Republican ad-
minstration from the sale OF tide lands,
TO pay the expenses OF the legislature,
including their own salaries. The eff
fort was made. but the Republican mi
nority, aided by the liberal element OF
the fasionists In the state senate. was
able 10 prevent this infamous attempt
at special legislation, and insisted that
II the tide lands fund was used at all
the state treasurer should be directed
10 invest all such moneys coming into
his hands prior TO the first day of Janu-
airy. 1899. in the general fund warrants
of the state issued after the passage of
the act and its approval by the gov
ernor. The bin in this form passed
and became a law. AS soon as ali war
rants of current issue were thus re-
moved from the reach OF the Spectator,
the value OF outstanding warrants re-
turned TO par.
For months following, the governor,
through his. press bureau-which was
directed by his private secretary-fIled
the fusion press of the state with state
ments that Gov. Rogers, through eco
nomical management of the states af-
fairs. had SO restored confidence that
warrants were again above par and in
great demand; a piece of demagogism
that was not only below the dignity of
the governor, but absolutely untrue.
as the governor had nothing to do
with IL.
NOW this same Populist administra-
tion, in an Official communication to
the state employees. unwittingly admits
the truth. and 1t goes further: Dur
ing the last campaign the Populist gen
tiemen, who are now serving the state
as It's officials, stumped the state and
denounced the Republicans for enact
ing into law a plan for investing the
idle moneys in the permanent state
school fund In state warrants. and said
all sorts of cruel things against The
board of state land commissioners for
following the law and investing the
funds as directed.
Now 1t is different.
Concerning this Republican economic
measure, once abused and reyiled the
Populist officials say in this same an
peal:
State warrants are the very hes, ~
securities; the interest which they araw
Is greater return for the tnvestn,ar.
taxing into consideration the absolute CO.
curity or such investment. than can ne
realized from other sources and !. ov des
good income for the current s.h.oI
funds Of the state. And the further ex-
Ceiieht Feason-the greater the income
from the permanent school fund. the pro-
poruonately less sum is required from
general taxation for the support Of the
common schools Of the state"
Is it possible that the Populists are
at last learning that all of their wild
mouthings during the last campaign
were the veriest rhetorical imagery7