Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1900-09-28
An Englishman's Threat.

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The P..L tries to work up sensa-
ton over the statement of an English
capitalist by the name OF Morse that
should Mr.. Bryan be elected President,
he will Immediately transfer his
American stock-holdings to other
countries. 1t caps his utterance with
a big head and surrounds it with a
"scare border" to emphasize the inn
portance it attaches to the opinion of
this British goldbug. He says:
have been dabbling in American
stocks and securities for the past ten
years, and during that time | have had
but very little to cause me to regret my
various ventures. American stocks at
the present time are better than any
other class of securities in the world.
There has never been time when they
were better or brought better price in
the market. There is reason for this
condition, and it can be found in the
general prosperity OF the United States
under the present Republican admins
tratiOn. | am not sufficiently posted on
American politics to speak on the SUBJ
ject, but one thing every English in
weston in the United Ststes is aware of,
and that is that the election of the pres
ent Democratic candidate means a re-
versal of the present business conditions
in this country. For my own part, if l
was sure that Mr.. Bryan would be
elected l would be willing to sell many
ct my American interests while it can
be done at profit
There you have it, just as the out
look is presented to one who sees only
the interests involving capitalize
prosperity of wealth-the prosperity
that makes American stocks better
than any other class of securities in
the world" And what other condition
does this produce? Cannot even the
blind see that, with given amount OF
money employed in the worlds bust.
ness, an inordinate accumulation in
one direction, leaves a scarcity in
another? Is it not as immutable a
law OF nature, as that when the tides
are drawn by planetary attraction
away from their normal equilibrium,
a corresponding depression must exist
at points from which the volume of
water is drawn?
Mr.. Morse says that American Sc.
curities have been absolutely safe the
past ten years. That is because con-
ditions have favored absorption of
capital by the money kings ever since
the Democrats elected a gold-bug
President in 1884, and he reversed the
policy which, up to that time, had Sc
cured distribution OF the circulating
medium upon an equable basis to
both labor and capital. That policy,
under Republican rule, has not been
changed. OF course it was "safe" for
securities which have been protected
by system OF finance that has en-.
abled investors to receive compound
interest upon their bonds and to
force the borrower to pay his losses in
currency that had been appreciated
by depriving one-half OF the monetary
circulation of its character as primary
money. As result of this corner on
money, We have the startling fact pre-
scented of many wealthy people sud-
deuly becoming multi-millionaires, and
we have been afflicted with the forma-
ton of innumerable trusts that have
placed almost every article in which
labor is an important factor for pro-
duction under a despotic control
which reduces its profits to the lowest
possible margin.
1t is to make impossible the rapacity
of capital that the people have com.
bined in support of the principles up
held by Mr.. Bryan, and they will
probably insist upon return to the
policy of the fathers of the Republic,
although it may ALLEVIATE such sordid
foreign friends as Mr.. Morse, who, al.
though "not sufficiently posted OH
American politics" to speak intelli.
gently of the causes which make
American securities the best in the
world" abandons the field when he
thinks if cannot be longer profitably
worked"