The Ellensburg dawn. [volume] (Ellensburg, Wash.) 1898-1914, 1899-01-27
GIVE US GREENBACKS.
1t is not Necessary to Saddle
Industry with more Bonds.

most judlciously the financial drain
of the war, it is unfortunately not
so solidly united.
The issue of silver to augment
the volume of money is honestly
considered by many as disturb
ing element, because of the market
disparity between the yellow and
white coined dollars. In this en-
Urgency why is it not possible to
eliminate this element of partisan
discord?
A wise income tax will judi
cously relieve us in an easy way
of much of the war tax; but,
after all, the great bulk
of the debt must be met
either with interest bearing bonds
or greenbacks bearing no interest.
| Why should not resort be had to
igreenbacks? We know that it is
interest that gradually eats up the
profits of production and surrenders
it's gains to those who do not pro-
duce. We know that it is the vast
aggregate of the various forms of
interest-interest on national ,
state, county, municipal and rail-
road bonds, beside many other cor
porate and individual interest pay
ments, which are charged against
production, together with the in
, ability Of producers, under our
present defective system, to fully
market their activities-that is the
grave cause of distress and poverty.
Does it not seem strange, and the
, height of folly under such circum-
stances, that we should increase the
burden of interest upon public debt
when 50 reasonable a way exists to
, avoid it as the issue of treasury
) money bearing no interest?
The stock argument of those inter-
ested in the issue of interest bear
ing bonds is that further issue OF
greenbacks will create an inf1a-
ton which bank and other forms
of credit, bearing interest, are not
likely to produce. Isnot this prac-
tice untenable and absurd? Do we
not need an initiation An infla-
ton that will give employment to
the vast army Of idle people and
provide them the means of purchas-
ing the productions of each other ?
We need an initiation that will
enlarge generally the activities of
! industry and add both to the guam
tity and price of commodities, set
ting the wheels of supply and de-
mand into quicker motion. An in
flation that will increase the pres
ent low prices and stimulate
proportionately every branch OF
legitimate labor cannot certainly
be Objectionable even to the bankers
and money lenders, whose profits
from the greater volume of business
would be thereby largely enhanced.
Decidedly, let the expenses of the
war be met with full legal tender
greenbacks. Let not the producer
be further enslaved by interest bear
ing bonds when it can be avoided.
These bonds will only rivet a
stronger yoke around his neck.
There is now an immediate need
for $5OO,000,OOO more greenbacks
to infuse a legitimate stimulus into
all activities for the full employ
ment of the people, and it is far
more important that the people
generally shall be employed than
that the hordes of lenders shall he
increased.
Let us avoid past financial errors
by issuing full legal tender nation
al money, which will not only light
en- the burdens of war, but at the
same time add greatly to our wealth
by stimulating to a larger activity.
Let us not forget how France
emerged from her German war, not
crippled and broken, but strong
and vigorous, through a wise fore
sight manifested in the issue of