The Durham recorder. [volume] (Durham, N.C.) 1879-19??, 1890-06-11

counties in the Union, that produce
and sell these named articles in ex-
cess of $4,000 annually. But
these 500 warehouses must be large
enough TO hold all of these five pro-
ducts, raised in the counties where
they are situated, and such products
Of the other counties IS may be- de;
posted. What will these warehouses
cost If the cost of the public build
ings erected by the government here.
tofors and those being erected now
constitute any evidence BY which one
may determine that matter, it will
require . very large sum to begin
with. The government had erected
one public building in the ninth con-
gressional district in the city Of Wa,
co at q cost of one hundred thousand
dollars, and / am sure that if II was
filled from cellar to garnet it would
not hold one.tenth of the cotton rails
ed in McLennan county, to say
nothing of the corn, wheat and oats.
If the houses could be built at an
average cost of 100000 1t would re-
quire eighty million dollars 70 build
them. This is the smallest objection
I have to the sub treasury system.
If It's effects were otherwise good ]
could support it over this objection.
But suppose the houses cost nothing,
would 1t then be wise policy to
adopt! The most prominent feature
OF this policy is the entire absorption
| of the private business OF. the people
| BY the government. The Alliance
tells US that our farmers cannot sup.
port themselves and thvse dependent
ON them without the government will
take these products aid lend them
money on them. But If that be true
how much better off will he be next
year than he is now! He will have
to borrow again, snd as he is not able
to make his income meet his out-go
without borrowing he must get worse
year by year. and sink at last into
bankruptcy. When the government
begins to take charge of the cotton,
wheat, corn, oats and tobacco, it vii
60 on, and bacon, pork, beef, butter
cheese, lard, hay and all other farm
products will demand Of the govern
ment to take their surplus and ad'
vance them so per cent. on IL Ant
lin periods OF manufacturing ant
mining depression iron, steel, wooleE
aui cotton goods will demand to b
deposited and taken care Of and mon
ley loaned to their owners, and 80 vii
| coal and ores and lumber. II th'
policy is adopted it must apply to all
and the power Of those interested il
these products will compel the gsv
ernment TO extend its parental car
] 70 them. How much money will
take 10 make the 30 per cent. ad
vance on. the: five articles provide,
for by the bill? It's friends say
) will require enough treasury note
10 about double our present circula
ton. The amount OF money In th
/, United States to-day, outside tn
Treasury, 10 about sl,4O0. 0OO,OOl
Will it put this amount Of pape
! money in circulation I Say that
will increase the circulation one-ha
Of that amount, the first effect woul
be suspension Of specie payment
Gold and silver would quickly leay
, the channels of circulation, perhsr
:. leave the country. and the bushes
J, Of the Country would be floating on
J, vascillating volume of paper mont.
|, all prices would rise in proportlo
3 70 the increase, and then % the bi
; provides for the destruction Of Il
y money when IL 10 paid back TO u
: government, there would be q col
q traction equal 70 the expansion, 40
e prices Of all farm products woul
= fall, in company With all other pro
2 erty. This measure provides for .
d annual expansion and an annual col
c traction Of the currency. That itse
e would bring Incslculable disaster
U the country, and no class OF our cit
= zens would feel il more severely tbs
J our farmers. When the business
= the country Is on . yascillating pap
+ circulation il is exposed all the tin
q TO the perils Of speculation and gan
n bling in the products of labor,
! which game the working people
II the country are always losers.
vi The policy which the sub-treasul
= system will INACCURATE will lock q
!; and keep out Of market the produc
l. necessary 10 feed and cloths the b
e, man family, and, Of course, IL vi
n bring with il distress aud sutferiE
among all the poorer classes Of pc
re pie who live by their daily toll, al
Ie must receive their daily suppl
le from the market places. WI
ls Southern farmers should 20 into IL
Of canno. comprehend. They buy the
D. bacon and hour from the Eorthwe'
d. and IL the producers are enabled
y lock il up and hold il for high,
{ prices il will be 1t the expense
ID the cotton grower. How 10 he 70
ID beneattedi when be locks up
- Il - -. e. a u. ...sm. A..