The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1890-04-29

interest on the loan. That we be-
lieve to be exceedingly unjust in prin-
ciple, in that the govern ment issues
it's credit Ii. e. its currency upon evil
dences of Indebtedness. We believe
that the government ought to issue
it's credit (its currency on evidences
of wealth. So far as the metals gold
and silver are concerned, they are
good as far as they go, but they fur
nisn a very inadequate volume of
currency with which to transact the
business of the country. I would
| supplement- that by values-real, tan
oibIe. substantial va~lues--values that
| are recognized the world over"
THE wAREHoUsING PLAN.
then interested President Polk in
the plan submitted to Congress by the
Alliance, for the warehousing Of grain
and the issue by the government of
certificates thereon. I told him the
objection had been urged that no real
security was behind the scheme; that
fire might overtake the warehouse
and the government would be with
out adequate protection. Said L:
"How do you meet thai objection ?"
After some reflection h. said:
First, we do not want the govern
ment to take any risk whatever in this
proposed system. We are loyal to
our government, and we do not want
it to take any risk, even to favor our
greatly depressed agricultural inter
ests. But the same objection would
apply to almost any thing. We can
not, of course, foresee and guard
against these things, except by the
ordinary precautions used in business
life. We would expect the govern
ment to build good, substantial ware
houses, as nearly fre-proof as may be;
we would expect the government,
moreover, to insure the property that
we hypothecate, and charge US reason
able storage. My own individual
opinion is, however, that the time is
not far distant when this progressive,
enterprising American people will dis
cover and bring to light a process for
preserving food products for IN lndef-
mite period of time. When that day
comes, if it shall come, then we will
offer the government a better security
for its issues than gold or silver"
But [ said: "Under your Sub
Treasury plan, as you call it, would it
apply to any producer of a crop, even
to the most lowly farmer 2"
"Certainly, he added. "The poor
est colored man in the South, if he
has any crop named in the bill, can
share in the profits to the extent of his
possessions. There is this that | wish
to say about the Sub-Treasury bill:
We claim that this system will give a
quality to the currency that no other
system can give, and that is fexibility
of volume, which is every way desir-
able. Under that system the volume
would contract or expand necessarily
according to the demands and require
ments of trade. If, when we throw
So, 600, 600, 600 worth of products on
the market, we need
ONE BILLION To HANDLE THE CROPS.
We think we should be able to OBJ
tain that ST, 900, 600, 900 from the
government by pledging to 1t the next
best security to gold and silver as a
basis for the issue of government cur
rency, for the reason that the world
must have for consumption those
products inside of twelve months, for,
be it remembered, that the whole
world is only about eighteen months
ahead of starvation. So that when
we look at it from that standpoint it
becomes a very valuable and solid
basis"
"Colonel," quoth l, Gin the organi-
zation of the Farmers AIIiance-and
l I'M speaking of even the most sub
ordinate lodges-do politics enter at
all ? That is to say, have the political
affiliations of the members anything
to do with it ?"
"Any man who approaches a prop
erly organized Alliance, whether he
has his Democratic or Republican
banner in his hand, must leave it out
side of the door,"
"But you recognize" [ added,
" the fact that in working out the in
dustrial salvation of the farmers, they
may have to use the ballot to an ex-
tent 2"
"There are certain great political
and economic reforms which we seek
to bring about" he answered. I'VE
realize the fact that our object can be
accomplished only by education, and
by a proper and discreet use of the
ballot. While we do not interfere at
all with party machinery, any man
who joins the Alliance does so with
out in any manner having his political
or religious freedom abridged. While
we see that it is the part of our duty
as American citizens, as it is n of
the hioheSt nriviIoooS ~ N-ou