The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-11-02

1.-Two years pfevious. the fssson asfnnnsstra-
s0on ays II cannot be dome I: Z that
s0t6seence between --do.rg a thing" and
s~lAEtnge' that distinguishes the wfse bs:sE-
No. man from the sssxuccessful one.
This question is Gre OF sufficient I'M
portance. Ia my opinion, 20 permit OF a
Deneral statement OF the difference between
46e methods Of the Republicans ard CT
me fusionists In the frat place II should
- known that there hass bern mary mis-
etatsmentx By fusionkss regarding The price
~ state warrants. Prior 10 November.
31oe. general fund state warrants were ct
~ above par. After the panic % 1ssss--
shout Novernbsr--shey dropped 10 81 arf s.
cents for from thirty 20 sixty days. ADou.
ths first OF January. 1894. general fund state
1eaTrants again wen; 10 par and from tnat
date until shortly after the nomination OF
Bryan and the promuIgssfon OF the silver
~ II to platform In 1896 general fund state
warrants were either at par Or from 20 z
cents above. They remained down through
tha campaign OF las and Until after the
close OF the session OF the populAst segssGa-
ture In the sprsnz OF 1881 This statement
know to BIS true. and any warran. broker
Gan confirm IL
In Isa3 .iss Republican legislature passed
q bill authorizing the investment Of ths
school fund In national. state, municipal
or county bonds but ths average earnings
IN consequence was about 81 per cent.
Therefore In 1855 another Republican iegls-
1A.ure added the clause permitting the In
NEstment OF the fund in state warrants at
Per. That law vas passed wnsle state war
rants were above par. and fer the next
TWO years-santii the fusioniste took control
1.-THE excess earnings over tbs former bond
earnings. as ehown by Gov. McGraw, were
a6,aD per annum or SiGsf0 FOR the two
years.
The Republican officials figured tina. n
dollar saved In interest to the school fund
was dollar for the taxpayer. Ii was a
collar added 10 the wealth OF the schools.
Hence. II was figured that when man
could get LOO cents for every claim OF II
against the state he was not being mis-
treated. while the interest on his warrant
II turned over to the school fund was for
the general good of the people: while IL
the debt was paid in a warrant and the
payee sold the warrant TO broker, then a
specuIator was the beneficiary. II Is good
Republicanlsm always 10 hold the peoples
interests above those Of SPECTATORS Hence,
the Republican government gave employees
everywhere to understand that they would
Be paid by treasurcr's checks instead OF by
warrants. the warrant being turned over
to tbs school fund. Ii was the same with
outside claims: when the treasurer's check
could be substituted for the warrant 1t
Was done. and the school fund profited
This was never made Objectionable The
Republicans always recognized that the
payee could demand his warrant, and when
M M Il
pufcd. and the warrant was delivered. The
system during Republican days was like
this: Arrangements would be made for
$ES.mo OF school funds TO be checked out
FOR general fund warrants. The auditor
would receive voucher for an exnendi-
ture or for certain salaries. lie drew the
warrants. took them TO the treasurer's of
nee TO have them Endorsed, then carried
them TO the state land commission to have
than listed. and turned them over 10 the
treasurer. who drew bis personal check and
sent II to the payee or payees. while the
warrant was deposited to the credit OF the
school fund. This was done successfully
for two years. Whenever anyone dealing
with the state asked for warrant IL was
given. and In future dealings with him
that request was respected
That was good Republican gov
ernmcnt.
Now why did the fussoalsts get into
trouble? 1t was miamanagement ans greed,
The auditor instead OF sending the state
warrant TO the treasurer to mail the payee
treasurcr's check. seat to the payee direct
the warrant When the page. presented
the warrant and asked for It's Endorsement
10 that 1t would draw interest. the treasurer
refused 10 obey and demanded the right
to .pay Il; with money from t.e tide lands
FUND and cancel II, This was an arbitrary
aoe that any school boy should know would
make trouble. Besides the states employees.
through greed. demanded the warrant. IN
order to barter them OF III premium
above their fxed wages. The warrant
specalators took offense at young's arbi-
trAry methods. brought ties, suit. conn
petied hlsa to deliver the warrants and .he
fund now lies Idle In the banks. drawing
interest Tor bankers and others
That was had fusion Cow
ernMent. and Mr.. Ronald
prcteads 60 hide behind that
Aecsaios. brought ON by mismnn-
eGement Of the fusiontsts. and to
say the school fund 4. not In
yeatea because the beard Of land
unmtsstoners IL not allowed
ny law 20 buy warrants NJ n
neemiuns- luckiis. The H~pusitr-
IN record strnd- there sa r~bukc
sach statement.
Mr.. Ronald says Il is hardly r,sr 10 fnA
fault because the siaa@a revolving
fund has not been invested as fhe fund nst
doubled under fusion afn4ial = n tson Mr.
Ronald IL not aiding Ia rs reputation for
fairness in saying thiA- The original fuaA
was xse,ee crvssad by Republican .egis-
lature The tute MN az tAe naa!icnslarv
was running steadily during the Rspu.aie-
an administration ard earned all AZ this
profit; under fason control II has been
running fui farce. Out IL Is announced On
excellent authority that the outpu. has been
- per cent. below that during Republican
management.
Meanwhile the slss1eho Of the vevol,tne
fund Is In the hanks swollen 10 fauhia 3fs
else, and earning interest FOR bankers