Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1899-04-07
Held by International Clique of
BOndholderS.
GOLD STANDARD A ROPE OF SAND.

In Times of War and Panic 1t Has AL
ways Proved Worthless Present Burden
OF Taxation Bears Heavily on Productive
PrOperty-The best Primary Money.
There Is not a nation on tho face Of
the earth where the single gold standard
is thoroughly established that ever ex-
poets to pay the principal of its public
debt. and now the money kings of the
world are using the Republican party
as q tool to bring the United States to
the same condition. When "Old Ben
Allen, a distinguished citizen Of Ohio,
said, Cold redemption is barren
idealitv," lie uttered frozen truth that
j will he recognized as we grow older
and wiser. In times Of war, panic, trou
BILE and tribulations the gold standard
has always proved Il rope of sand.
Gold will go where it can get the
most Gold is coming here now because
there is a bread famine in Europe and
food products are cheaper here than
anywhere else. If the war with Spain
had lasted several years, the owners of
gold would have lost faith in the equiva-
lent Of gold and hid their treasures as
they did when the blue and gray met in
mortal combat. When our government
is spending from 1000. 900 to So, 00O,-
900 day for an indefinite time to kill,
to burn and to lay waste. the owners Of
gold will put lock on our standard Of
value, and they will hold the key. The
Republican party proposed interest bear
ing bonds as war measure, and, under
the national banking loan act, to loan
to the bondholders the peoples paper
money without interest, SO that the un-
taxed bondholders can draw interest on
all their bonds and all they own and
at the same time levy ON the peoples
war taxes. A bond issue locks up the
money for circulation and from tho tax
gatherer.
While the supreme court has declared
that it is unconstitutional to tax the in
comes Of the rich the burden of the
present taxation bears heavily on tho
men who own productive property and
employ labor. Producers are now pay
ing taxes on property that pays no divi-
dends. Property that pays dividends es-
capes taxation. There is so much proper
ty that is untaxed that towns and cities
are forced to issue bonds to pay running
expenses.
We have now all tho blessings and
sweetness Of the gold standard, but the
taxpayer has hard work to get the tax
paying dollar. The good old town Of
Turner has state valuation Of o little
less than 500. 900 Last year the select
man borrowed 81. 900 to pay the school
teachers and other town charges, be-
cause last years taxes could not be
raised without too much strain. At our
last March meeting that town voted to
issue $4,000 Of 20 year bonds to cover
the deficiency Of last years unsolicited
taxes The nearby town of Summer is
going to celebrate the one hundredth
anniversary Of the incorporation Of the
town this year. The town voted to ap-
propriate the magnificent sum Of $50
for celebration that can only come
once in 100 years. These two incidents
in the towns Of Turner and Summer
illustrate how heavy is the present bur-
den of taxation.
The multitude Of taxpayers arc wear
ing their old clothes and buying moth.
ing new. There are carpets in tho
homes Of the people, but they are all
old carpets. A late large auction sale Of
carpets was very unsatisfactory; prices
were below one-half the cost Of produc-
ton. What little the people buy they
wait for bankrupt sales. and they don't
have to wait long, either. Everybody
is hunting for a chance to buy cheap.
Our restricted consumption is confined
to goods that are for sale at less than
the cost Of production. Under the ex-
listing conditions war taxes won't pan
out as they did in the war between the
states. Before war taxes were levied
paper money was primary money. Gold
was frozen out Of the internal commerce
Of the country and the premium ON gold
was Of no account except to gold gam
blers. During the war and years after
when we had plenty Of good money and
q standard Of value the gold gamblers
could not corner, the manufacturers of
New England paid large war taxes and
the burden was hardly featherweight
When the greenback was primary mon
ey, the producer paid internal revenue
taxes from his profits The more he
produced the more taxes he paid and
the more profits he made. But when
wiEe men discovered that the green
backs were not "honest" money and
gold alone was made primary money
conditions were brought about that
paid bounty to idle money at the ex-
pense Of productive property. There is
plenty Of idle money within easy reach
Of the wheat gamblers, but beyond the
reach Of the honest producer.
The mills Of New England have been
on gold basis for the last 10 years, but
they can't pay war taxes now without
cutting down wages to a point below de-
cent living. II wages are cut again,
men and women who are working in
the New England mills will use hogs
grease instead of butter. That means
VA0s GAO eoAP0y AA6 uoAAoA WILL COLuc
harder to patrons Of the Turner Center
creamery as the taxpayers property
depreciates and tho untaxed bond appre-
ciates.
The supreme court has decided that
the government has the right to issue
legal tender money. Tho time has come
to make paper money primary money.
and enough Of it-supplemented with
taxes to carry ON tho war-issued by
the United States government for value
received redeemable in taxes and ex.
changeable in silver or gold at such
time as will best suit the pleasure and
convenience Of the government. If treas.
ury notes are issued redeemable in gold
ON demand, there will be a demand fol-
more gold to increase the gold reserve.
If paper money is made primary mon
ey. gold will be frozen out of the bust
ness Of our country. More greenbacki
on gold basis will not seek the chan
nels Of commerce, because they will
earn more boarded and invested in bust
ness, but legal tender paper money will
seek the channels Of commerce because
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