St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-06-01

opportunity of the speculator, whose
agents will swarm all over the country
ready to take the warehouse receipts
from the embarrassed owners for as
mere nominal sum. The receipt is sin y
ply privilege of redemption, like al
pawnbroker's ticket, and the farmer,
being himself unable to redeem. will be
forced ultimately to dispose OF it at any
price offered. [ do not think that
any considerable number OF In
telIigent people in this country will
unite in asking the government to es-t
tabliSh system which will compel
them in large number of cases to sac
rifce the products of their labor. =
Senator Carlisle argues at some length
to show that the plan proposed would
produce an annual expansion anu con,
traction of the currency, which would
result in absolutely destroying the mar
ket upon which the farmer must de-
pend for the sale Of his crops, and thai
the cotton farmers, who are supporting
the scheme, would be special sufferers
because the plan in the writer's estima
ton would
Close Every Cotton Factory
in the country. No such facilities as
this project will afford for controlling
the markets for purely speculative pur-
poses have ever existed in this or any
other country. and no more perfect syS-
tenn for the oppression OF the poor could
be devised. The exact quantities OF.
products on deposit in the several pub
lie warehouses will be known in every
commercial and financial center, and
combinations to purchase and hold the
receipts could easily be made, eSpeclaa~
~ when they can be procured by the
payment of small per centum OF the
value of the deposit" In conclusion,
Senator Carlisle says: 81 have thus
given you as briefly as the nature OF the
subject would permit me some OF the
reasons why | think the proposed plan
for the relief of the farmers would
be injurious instead of benef-
cial, not only to them. but
to all other people of the country. But
it would be uncandid not to say dis
tinctly before closing this cOmmunica-
tion that even if it could be conclusiyeIy
shown that this, or any other similar
scheme. would be pecuniarily beneficial
to any particular class of our people,
would still be unalterably opposed to
its adoption. because, in my opinion, it
would be but another wide and danger
Gus departure from the principles upon
which our political institute ons are
founded. 1t would be, in fact, the long
est step yet taken in time of peace to-
wards the consolidation of power in the
hands of the federal government, and
the subsection OF the private affairs OF
the people to the supervision and con-
troll of central and
irresponsible Authority.
"You and l are Democrats, and as such
we believe that the government should
scrupulously abstain from all unneees-
sary interference with the personal and
domestic concerns of its citizens and
confine itself strictly to the administra
ton of purely public affairs. 1t is q
cardinal principle of-our political faith
that the people are best governed when
they are least governed, and that they
are most prosperous and contented When
left to the free exercise of their own
Judgment in the management Of their
own business, subject only to suen
reasonable regulations as may be reees-.
sary to preserve the peace and COED
order of the community. These PROPOSE,
tions are fundamental and we cannot
abandon them without repudiating ali
the traditions of our party and all the
distinctions between constitutional gov
ernment and paternal despotismS."