The Butler Weekly Times Newspaper, June 11, 1890, Page 2

(| a: CARLISLE’S BOMBS, They Come Hot From A Great Intelliect and Appa! Dem- agogism. An Infinite Number of Reasons Why the Sup-Treasury Scheme Should Not Pass—It Would Create an Unstable Curreency and Ruin Trade. A The Republic Bureau Cor. aoe St. and Pennsylvania Ave. ashington, May 31, 1s. ’ S Senator cae has written the following letter, which explains it- self: United’Btates Senate, Washing- ton, D. C., May 30.—B. F. Howard, Esq.. Tuskegee, Ala.: Dear Sir— Your favor stating that you area member of the Farmers’ Alliance of Macon county, Alabama,and request- ing me to give my views on what is commonly called the “‘sub-treasury plan” was duly received and I take the earliest opportunity to reply. You state that you have been a dem- ocrat for 50 years, and that you and those with whom you are associat ed are in favor of “equal justice to all and special favors to none.” This is sound democratic doctrine, and if it had been strictly adhered to in congress during the last quarter of acentury the evils of which the farmers and other classes of our peo- ple justly complain would have been averted and the whole country would: haye been prosperous and contented But unfortunately the paternal the- ory of the government, which owes its origin in this country to the ad- vocates of a system of taxation which makes unjust discriminations against a part of the people for the purpose of increasing the profits of another part, as so frequently embodied in our legislation during the past 25 years, instead of recognizing a com- mon interest in the general welfare has divided the people into war- ring classes, each striving to seeme for itself some peculiar advantage at the expense of all others. The prevailing theory is that the individual citizen must not rely on his own efforts in the transaction of his private business, but that he has aright to appeal and ought to ap- peal to the government for financial assistance in every emergency,’ for- getting that the government has not and never can have any money except what is realized by taxation in some form upon the people of the United States. Itis a theory which grossly misconstrues and preverts the powers of the gov- ernment, paralyzes individual effort and destroys that spirit of self-reli- ance and independence which is ab- solutely essential qualifications for good citizenship in a free republic. It not only demoralizes the people, but if persisted in will convert the _ government itself, into a pariarchal Gespotism with ubsolute control over all the financal, industrial and personal interests of its citizens. The farmers of the country have been taxed so long for the benefit of other classes, and have seen so much legislation for the agrandize- SINCLE APRON BI edly exists, and that is to reverse the! policy which produced it. THE SCHEME EXPLAINED. The demands made by the farm- ersin some parts of the country have been formulated, and at their; request bills have been presented in’! the house and in the senate which many of them think will afford the} necessary measure of relief. I need | not undertake to state all the details | of these plans. for whatever the | particular provisions of the measures | may be, the whole scheme in its gen eral form and design is vic : principle, and if adopted wou'd | prove in practice ruinous to every interest itis intended to beneiit. The plan to which you allude in your | letter is to establish what are to be | denominated sub-treasuries, and | erect public warehouses in every | county in the United States which | produces and sells annually more | than $500,000 worth of wheat, corn, oats, cotton and tobacco, and permit | the owners of these products, wheth- | er farmers or not, to deposit thea in these warehouses and receive from the government in treasury notes, to be issued expressly for that pur- pose,80 per cent. of the market value of the products. Of course there must be officers and employes to| take charge of these warehouses and their contents, receive and receipt for the products deposited, pay out the money to the depositors, receive the money when the products are} redeemed, sell unredeemed property, | and generally to exercise the com- bined functions cious } of warehousemen, | bankers, auctioneers and executive | officials. “All these officers and employes | must be compensated for their ser- | vices either by fees charged to the | depositors of products, or by pay- | ments out of the public treasury, | and all or nearly all will be partisans | of the administration in power, be- cause under the constitution they | cannot be chosen by the people, but | (WALTER A. W00 ERS. Light Enclosed Gear, Self Rake Reapers and Enclosed Gear Mowers. Best and Lightest Running Har- vesting Machines made. D. V. BROWTDWN, Agent, i whic! i the | ing when he must have money to re- lions of people who reside in the | port upon the subject ie: total | | sssount of currency in the country is i 58,071, but the sum of $622,- 764,278 is held in the treasury of the United States, leaving about $1,500,- 000,000 in active circulation among | the poeple. It was said by one of the leading advocates of this scheme, | who appeared before the senate com- | mittee, that in order to carry it out it would be necessary to double the | present volume of currency in circu- ilation once ev ery year, and the ; produe ts ean remain in the ware- “house only 12 months, of course ‘about $1,500,000,000 would have to | be retired aud cancelled every year, as | two changes in the volune of curren- NDING HARVEST: ey, aes. of which would be abso- ‘lutely ruinous to all the commercial jaud industrial interests of the ;people. No business of any kind ‘could be transacted in any country jin the world under such a jinancial system us this, and the farmers and laboring people would be the first to _feel its fatal effects. The fluctuation :in the wages and prices of commodi- |ties would be and so great that no could afford to }enter intoa contract of any kind. All credit would be utterly destroy- {ed. The Jaborer would find that the wages which he had agreed to receive when the currency was con- tracted would be insufficient to buy bread for his children, when the‘cur- rency was inflated; and the farmer would find, when he undertook to | purchase his supplies with the treas- ‘ary notes received on his products, that on account of the temporary inflation it would require twice as many dollars to procure the same articles as were required before the deposits were made. THE LOGICAL RESULT. so sudden man Butler, Missouri. prices for food from people who re- side in cities, towns and villages, | and from people who reside in the country, but do not own these par- ticular agricultural products. It is evident that no farmer will subject himself to the labor and expense of; transporting his products to the public warehouses and to all other charges which must pay for stcrage for | handling and taking care of them ‘e there, when he has barns and grenaries at home, unless he is in cL. and absolutely needs the money WwW 1 the g rnment is to advance and i: ‘tupate con-| The entire business of the coun- ditic source is he after.| try would be thrown into the most wards to ucquire the means to re- profound contusion twice a year. deen. the products returning the |Some would find themselves sudden- mouoy audi interest and paying the |ly baukrupted by the contraction of wai chouse charges? In a great major- the currency and a decline in prices, while others would find themselves suddenly enriched or apparently en- riched by the inflation of the cur- reney and arise in prices, but all ity i cases he will never be able to red: iu them, but will be forced to lose the remaining 20 per cent. of slue of his products, or sell his house receipt for whatever he| Would share substantially a common wet for it, which will be very | fate in the end, for the growth and little, for it must be remembered | prosperity of the country as a whole that after he gets his warehouse re-| be destroyed as long as such a sys- ceipt he hasa remaining interest of|tem existed. But, during the time only 20 per cent. in the product, less| When these great food products are charges for interest, storage, etc., locked up in the warehouses or in and this is all he can dispose of. He|the sub-treasuries as they are mis- will find the time rapidly approach-|called, what is to become of the mil- Ww ca deem his products or sell his small] Cities, towns and villages, and the remaining interest in them or allow] Other millions who reside in the them to be sold at public auction by | country, but own no wheat, corn or the goverument; aud this will be the} Oats? They are to be starved into golden opportunity of the specula-|®8ubmission to the demand of specue tors, whose agents will swarm ail |lators; they are to be deprived of over the country ready to take the| bread until such time as they be- warehouse receipts from the embar-| Come willing to pay whatever prices the purchasers and holders of ware- house receipts may see proper to ex- tort from them. No such facilities as this scheme will afford for con- trolling the markets for purely speculative purposes have ever ex- isted in this or any other country, and more perfect system for the op- pression of the poor could be de- vised. The exact quantities of pro- rassed owners for a mere nominal sum. The receipt is simply a privilege ofredemption like a pawnbroker’s ticket, aud the farmer, being him- self unable to redeem, will be forced j ultimately to dispose of it at any price offered. I do not think that any considerable number of intelli- gent people in this country will unite ment of corporations and syndicates that their patience is exhausted, and finding it impossiblé for the time being, at least, to abolish the sys- must be appointed by the president or the head of a department or the judges of tne United States court. It is proposed to appropriate the | sum of $50,000,000 at once to begin | in asking the government to estab- lisha system which will compel them in a large number of cases to sacrifice the products of their labor. But suppose the farmers are able ducts on deposit in the several pub- lic warehouses will be known in every commercial and financial cen- ter,and combinations to purchase and hold the receipts could be easily ao yawer dames meter tem which has oppressed and de- spoiled the greatest industrial in- terest of the country, they are now demanding that the very policy which they have heretofore announc- ed as unjust and ruinous shall be applied to them, or rather part of them, for no scheme has yet been suggested that would operate alike upon all the farmers. That they have been oppressed and despoiled by unjust legislation must be admitted by all who have given any attention to the subject, and when they see measures favora. bly reported to congress to tax them still further for the purpose of rais- ing money to pay subsidies and bounties to wealthy steamship cor- porations and to the producers of sugar and silk, which are among the least important of our domestic pro- ducts, it is not at all strange that they should become more dissatis- fied than ever, and more urgent in their demands for relief; but no evil ean be corrected, no wrong can be righted by increasing its magnitude and extending the scope of its oper- ations. There is but one effectual the erection of these warehouses, and while we have no accurate data | upon the subject, it is perfectly safe to say that they would cost alto- gether many times that amount, all which must be raised by taxation on the people, the farmers themselves, | under our system paying much more than their equal share. There are more than 2,400 counties in the United States, but not more than ' one-third of them, if that many, pro- | duce and sell anuually more than $500,000 worth of wheat, corn, oats, cetton and tobacco and, therefore, not more than one-third of them | could possibly avail themselves of | this plan if it were adopted. It will be seen, therefore, at the very out-| set that itis a plan to compel the) goverment to issue and distribute money for the benefit of the people living in the rich and productive | counties at the expense of the peo- ple living in the poor and less pre- ductive ones. WILL AID THE SPECULATORS. - Moreover, it is a plan to enable | posits are made and as long as they | they would gain nothing substantial | gerous contraction of the currency |and consequent fall of prices, of j and prices are low. unscrupulous speculators to take ad- | to redeem the products in order to} made, especially when they can be offer them for sale in the market| procured by the payment of a small what would be the necessary effect per centum of the yalue of the de- of the proceeding? When they de-| posit. posit their products in the ware-| But it may be contended that the | sisee bocmmas the government has| benefit of the high prices which will issued new treasury notes to the|temporarily prevail on account of amount of 80 per cent. upon the the inflation of thecurrency. If the products; but when they withdraw volume of currency were to be per- the products for sale in the market |™anently increased so as to make the volume of the currency is imme-| Prices permanently high there would diately contracted and prices fall, be some force in this suggestion, because when the withdrawal is| though even in that case the price made all the treasury notes original-| Of everything the farmers are com- | ly loaned must be returned and can-| Pelled to buy and use would be in- jcelled. The very moment the de-| creased in the same proportion and remain in the warehouses, and be-|in the end. But the volume of cur- yond the control of the farmer, there | rency in circulation is not to be per- is an enormous and dangerous infla-|™manently increased under this plan, tion of the currency, and prices are | for, as already stated, each inflation high, but the very moment the far-| must be almost immediately follow- mers withdraw their products for|ed by a corresponding contraction. sale there isan enormous and dan-| In view of this inevitable contraction course while the currency is inflat- EFFECT ON THE CURRENCY. ed and the prices are high, no actual remedy for the evil which undoubt- — Pecuniary | necessities and extort exorbitant | According to the latest official re- comsumer will purchase the stored (Continued on next page.) houses the volume of the currency | farmers can sell their products while A is immediately expanded and prices|they are on deposit and receive the]. TL ‘PEVTYS A.O WEL: PETTYS & WELTON VPDeALERS IN Staple: Fancy urocen a f all Kinds. 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