The daily journal. (Salem, Or.) 1899-1903, 1900-08-06
SOUND FINANCE IS A BUSINESS MATTER.


There will be plenty OF money from
hops, fruit, hay, oats, cattle, horses,
sheep, goats, wool, mohair, cordwood
and some from wheat. But no one will
get rich but the money-lender. Salem
Journal.
The long liets OF money.lenders who
are carrying, by popular subscription,
the bonds OF the Capital City and it's
school district indicate that many per-
sons In Marion County are not suffering
for ready money. Among these ''money-
lenders" who are thus TO "get rich,
appear the names OF numerous we'll.
known Bryanites, and as they have
more than "their share" OF the country's
circulating medium, IL Is 10 be- presumed
they will Join in support OF the goldbug
party's nominees next November.-Port-
land 0regonian.
The 0regonian does not rise 10 the
dignity Of the question II raises. That
Ia the distinction between business and
politics. Sound finance is the applica-
ton Of business principles 10 the prob.
lens Of public revenue. "sound money"
is largely political vaporing.
Four per cent money on the popular
loan plan, without any monopoly fea-
lures, is hard fact. II indicates that
there 10 not much use for money in bus
mess, manufacturing, real estate or
farming. II is ALEC an expression Of
confidence In good local government.
II is needless TO add, there ia not a
particle Of politics in the Salem popular
loan plan. II is quite an admission of
the oregonian though that any Bryan
ito has anything, to say nothing Of being
bondholder. II any Of them did turn
10 Mckinley and did not support him
any more heartily than the oregonian
does he would be in no danger Of cleo
tion.
but the popular loan plan Of carrying
the community's debt cannot be twisted
into the old political lines. Peoples
finance Ia finance for the people. II is
socializing the municipality, The old
doctrine OF the divine right Of kings was
not more offensive than is the govern.
ment in these days Of intelligence so
twisted az to benefit a special class.
To those who imagine that they see
an Inconsistency in the idea Of bi.
metallist approving and supporting the
city popular loan and school district
popular loan TnE JOURNAL has a word TO
say.
First let Il be understood that all debt
isbad The city was run in debt by
managing her affairs on the graft sys-
tenn, the fleeing Of the many for the
benefit OF the few. The school district
has been kept in debt by mismanage-
ment. But short time ago both city
and sclool district were paying s per
cent interest ON their floating debts.
That, also was tleecing the many for
the benefit oflthe few, and TnR JOURNAL
did not approve Of IT,
That was the condition. How WAS il
remedied2 By dose Of the medicine
called Finance for the People"
The city debt was refunded at per
cent. Not only that, but instead of
sending the bonds In lump TO some
New York shark they were scattered
among the greatest possible number of
our own people.
That was not the Sound money"
method Of doing such things, for il re-
dueed 10 minimum the evil Of the
feecing Of the many by the few.
The school debt has been handled in
the same way, refunded at half the rate
Of interest and scattered among as many
as possible Of our own people.
This 10 finance for the people, .as OPP
posed to the so-called "sound money"
method of finance for the few. There
could be no question as toIhIE JOURNALS
position.