Nevada County picayune., 1890-05-28

 ally. But these 500 warehouses must be large enough to hold all of these products, raised in the coun- ties where they are situated, and such products of the other counties as may be deposited. What will these warehouses cost. If the cost of the public buildings erected by the Government heretofore and those being erected now constitute any evi- dence by which one may determine the matter, it will cost d very large sum to begin with. The Govern ment had erected one public building in the ninth Congressional district in the city of Waco at a cost of one hundred thousand dollars, and 1 am sure that if it was filled from cellar to garret It would not hold one-tenth of the cotton raised in McLennan county, to say nothing of the corn, wheat and oats. If the houses could be he built at an average cost of S100, 1000 it would require eight mil lion dollars to build them. This is the smallest objection l 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 it then be a wise pollcy to adopt! The most prominent feature of this policy is the entire absorption of the pri- vate business of the people by the Government. The Alliance tell us that the farmers cannot support themselves and those dependent on them without the Government will take these products and lend them money on them. But if this be true how much better will he be next year than he is now? He will have to borrow again, and 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 to- bacco, it will go on, and bacon, pork, beef, butter, cheese, lard, hay, and all other farm products will de- mand of the Government to take their surplus and advance them 80 per cent. on it. And in periods of manufacturing and mining depres- sion iron, steel, woolen and cotton goods will demand to be deposited and taken care of and money loaned to thelr owners, and so will coal and ores and lumber. If the policy is adopted it must apply to all, and the power of those interested in these products will compel the Gov ernmcnt to extend it's patcrnal care to them. How much money would it take to make the so per cent. ad- vance on the five articles provided for by the bill! Its friends say it will require enough Treasury notes to about double our present circula- ton. The amount of money in the United States to-day. outside the Treasury. is about Sl ,4OO GOO. Will it put this amount of paper money in circulation! Say that it will in- crease the circulation onc-half of that amount, the first effect would be suspension of specie payments. Gold and silver would quickly leave the channels of circulation, perhaps leave the country, and the besincss of the country would be floating on yascillatng volume of paper money. All prlces would rise in proportion to the increase, and then as the bill provides the destruction of the money when it is paid back to the Govern ment, there would be contraction equal to the expansion, and prices of all farm products would fall in com pany with all other property. This measure provides for an annual eX- pansion and an annual contraction of the currency. That itself would bring incalcuable disaster to the country, and no class of our citizens would feel it more severely than our farmers. When the business of our country is on q vascilating paper circulation it is exposed all the time 1 to the pcrils of speculation and gambling in the products of labor, in which game the working people of the country are always losers.
 The policy which the sub-treasury system will inaugurate will lock up and keep out of market the products necessary to feed and clothe the hu-
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