The intelligencer. [volume] (Lexington, Mo.) 1887-1891, 1890-10-18
!, determined by the volume of money

is determined by the volume of money
in CIRCULATION Therefore the interest
of one who has anvihing to sell is 10
! nave the volume OF money as large as
ossible at the time he sells, so that what
ne sells will bring him as many dollars
as possible; and then when he goes 10
GUY, 1t is his interest to have to volume
IT money as small as possible, so that
his dollar will have the greater pur-
'nasing power, or that he will get as
much as possible for his dollar.
But the interests of the entire people,
The farmers and all others, would be
pest subserved by such a volume as Ia
'et forth in Demand No l, of our St.
Louis f q l.. q. platform, which de-
nands that the money OF our couptry
| he "issued In sufficient volume TO do
he business of the country on q cash
'ysten; regulating the amount needed
| IN per capita basis rs the business in-
terests of the country expand"
What will be the effect on our fnan-
;ial system il this "warehouse scheme"
| should become q law?
The farmer would come 10 the gov
'rnment warehouse In August with his
| 100 bushels of wheat, worth, say, 81
per bnshel, and as he Ia anxious to buy
/ wo.horse wagon worth In July $50,
| and set OF harness worth 1926, he
deposits his grain aud the government
loans him $50 on II, aud he goes forth
20 purchase his wagon and harness.
Now, the tffect of all the farmers
| lepositing their grain about the same
| season each year, will be TO. greatly
increase the volume OF the currency In
circulation. after they haze deposited
their grain. which will increase the
price OF everything they have to buy
after they have gotten the money TO
buy with.
1t Is estimated that it will double the
volume of money, but recollect this
doubling OF the amount OF the money 10
just after the farmer has nothing TO sell
and just when he wants TO buy.
liz II does double the volume OF
money, then the farmer who wanied TO
buy the wagon and harness goes 10
town 10 make his purchase, he finds the
wagon he intended to buy is priced at
500 ami the harness at $50 for "the
price of the commodity Is liked by the
volume OF mOnev In existence at the
time" Therefore what he wants TO
buy IL doubled IN price.
| Now before he can sell his wheat he
must return the money borrowed from
tho government al one per cent. inter-
est and charges; after he does this, and
his money is thus withdrawn from cir.
culation and cancelled and the volume
OF money is greatly decreased, he cells
his wheat; IN other words he buys on
q market when the price of everything
is low. The effect therefore Of this
II .~E - H. stA.
OF everything the farmer has TO buy and
10 decrease the price of his wheat corn,
oats, tobacco and cotton.
Ii 10 hardly necessary for me to
follow out and show the effect upon
all the other classes of business OF this
doubling and halving the volume Of
mouey each year. Financial chaos ,busi-
ness panic, aud national ruin would
but follow in rapid succession; and we
know to our sorrow that In all such
financial disturbances the farmer comes
out of the fight with the greatest part
oi the load resting on his shoulders.
What we need in financial way 10
! the stable currency set forth in our
o demand above quoted, ,and not the kind
: of currency that this scheme would
!. give us.
81 l have now given you as briefly as
i the importance Of the subject will admit
i my reasons for opposing the "sub-
: treasury scheme;" and while | cast no
o reflection upon the motives Of our
national officers in advocating and
8 pushing this scheme, more than any or
o all of our demands upon congress, tor
v will cOncede that they are as honest
r in their advocacy of II as ] am 10 my
u opposition to it yet cannot but regret
D the effect or tendency of such action
upon their part, in thus directing the
% minds OF our order from the greatest
: curses of the age, and trying TO commit
IL as as q body TO the kind OF Legislation
i that has brought these curses upon US
'e This seems to ma peculiarly unfor
ID tunate just al this time for two reasons
% 1st. The minds of our people are
y Just being drawn TO studying anl
4, understanding these great wrongs, ant
y End. The warehouse scheme is not on
q 9f the demands of our order, 6ut on IN
IA contrary viokates eUery demand of onl
8, order and cur 0,on constitution.
J. This scheme was meyer presented to
'e considered or reported upon by thu
committee on demands. Gas l wa
IN secretary of that committee and wa
y present at all OF its meeting and kept
ly and now have complete minutes Of tha
d. committees work, know am righO
is The committee on demands was com
,f posed of one delegate from each state
he to draw up demands on the natiODa
r, government, thus giving all parts Q
our country voice in making on
III demands; aud this scheme not being II
8 onr demands at all as adopted at on
or last national meeting in ST. Louis,
III re ard Il as especially unfortunate tina
It. our national officers should have place,
so much stress upon 1t.
u. The way this "scheme" ever cam
er before the body was by u report mad,
bv u committee of five, the originate
BY being chairman of the committee, ant
ne the other tour members being. no
ly members OF all the different pOlitica
by parties (ss was the committee on de
" msnds) but all five of them members
10 as am informed, of one political party
re and that report was most bitterl'
4 fought> in the convention and only
lis adopted after some states, notably Mis-
90 s0uri, demanded that her entire vote b
re registered In the minutes against tn,
Q. scheme under all circumstances.
q now ask the brotherhood through
this state To give this matter your care
IN fui attentiO and that you express you
re- views by resolutions in your subordi
IL nate, county and congressional unions
n, aud that you will be so kind as to sen,
" them thus expressed either to me o
D. the Journal of Agriculture.
%, When you take action in your subor
sd dinsIe unions, let your meetings b
be fall; aud when you send up you
hs delegates to your county, cOngressioua
D. district, and state meetings let them b'
OF fully instructed on this subject.
=, The following resolution ON In
lie sub treasury scheme wss adopted a
the last annual meeting of the nations
or farmers congress held at Council Bluffs
be Iowa, during week before last, Angus
q. 26 80. 1890.
r, "We condemn as uncOnstitutiona
" unjust and ruiuOus to the iarmin
1n class, the Vance aud Pickler sub
g. treasury bills now pending In Ii
ve United Siates congress"
t.. With q sole desire TO advance th
yf interests OF Onr beloved order 40
en through |: bless the farmers aud isbol
nd ers OF our land, am,
he Yours fraternally,
ch ta u. S. HALL.
I'D President of the Farmers aud Lab0
ire ers' Union of Missouri.
re-
,a ,ds WELL. WHO W0ULD9
as Who would think Of writing poe
snt with a pig pen?