A Populist Makes the Case for Paying Kittitas County's Debts
A letter from Ellensburg argues that the county's voters rejected repudiation and urges Eastern lenders not to confuse populism with default.
The story, cleaned up
A cleaned-up reading of the newspaper page: spelling and layout repaired, one story lifted off a crowded page. It follows the original closely but it is not a transcription. The original page is below; read it if a detail matters.
Ellensburg, Jan. 4.—To the Editor of the Dawn: I take the liberty of offering a suggestion which, coming from your pen, would, I think, do much good. There is an old proverb which runs, "There are fagots and fagots." In the same way you might say, "There are Populists and Populists." The special election held on the 5th ult. demonstrated that to a nicety.
At the November general election, as you are of course aware, the Populist party developed great strength in this county. Had every man who voted the Populist ticket last November voted for the repudiation of Kittitas county warrants last December, it would have been impossible for the county to have made the fine showing that she did.
It is true that a three-fifths vote would have legalized the warrants, but that would not have been enough. What was wanted was a demonstration that the people of Kittitas, regardless of politics, were right-thinking, honest-hearted men, and of this fact we have given convincing proof. Coming in connection with the inclosed letter, which you are at liberty to use, I cannot help thinking that an opportunity is here presented for the Dawn to show that, however various may be the differences of opinion on other subjects, the Populists of Kittitas county are as one with their fellow citizens on matters of business rectitude. Our object being to prove to Eastern capitalists that even if this county were all Populists, their investments here—regarded from what is technically termed the "moral hazard" point of view—are as safe as if made in Pennsylvania, where every one seems to be a Republican.
Perhaps you may think that the above vindication is unnecessary, but I regret to say that in some sections of the East, where the darkest ignorance prevails as to Western men and manners, the very term Populist is synonymous with repudiator.
P. H. W. Ross.
[Enclosed letter:] The Eastern Banking Co., Boston, Mass.
Boston, Nov. 26.—Washington Finance and Trust Company—Gentlemen: We have your favor of the 19th inst., with reference to the negotiation of loans in your state. In reply we would say that in a long experience in Western farm loans, we have never found any locality so satisfactory to do business in as the state of Washington. At the present time, however, we are not receiving any applications for the reason that none of our customers care to invest any longer in these securities. The investing public classes all Western mortgages together, so it is no easier to sell a Washington mortgage than a Kansas mortgage. Until there is a change in this sentiment we shall do nothing in this line. Yours truly,
The Eastern Banking Co.
“The very term Populist is synonymous with repudiator.”
Then as now, rural Washington's politics were tangled up with credit: whether a county could be trusted with borrowed money, and whether coastal banks would price a loan by caricature rather than facts. The letter reads like a modern municipal-bond roadshow—local officials trying to reassure distant investors that a progressive electorate is not a default risk.
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