The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1890-07-15

is nearly bothering us to death.
trust that Col. Mills and others Of
his way of thinking will not fail to OBJ
serve that all these savings are left in
the pockets Of those who produce
them. We, as Democrats cannot fail
to remember also that to this very end
Democratic government was instituted
among men. With these savings II
the pockets of the farmers it won't be
long till the farmers of America will
own the farms of America. When
this condition exists, our republic will
be perpetuated.
While under existing tendencies
which are Unavoidable under existing
conditions, within twenty years from
to-day three-fourths Of the farmers OF
America will be tenants. When this
c }ndition exists Democratic govern
ment cannot live. Homes breed pa
triots, boarding houses breed tramps.
Democratic government draws its life
blood from patriotism. Tramps are
the worst enemies a republic can have,
because the tramps Of to day will be
the anarchist of to morrow. Col.
Mills places the amount of money in
circulation at $I,4OO, 900, 600 while
no accredited authority places it at
over 500, 900, 900.
Then he says the advancing of
| 500, OOO, 900 on 5000, 900, 900 worth
OF the produce enumerated in the bill
will at once suspend specie payments
and drive the gold and silver from
The country (what a contrast to the
many speeches he has but recently de-
livered in the 9th Congressional dis,
trict.) In my humble opinion the
Colonel's fears are unnecessarily
aroused. The facts are the bankers
now will gladly advance cver $780,.
600, 900 on the same amount and kind
Of produce. They do actually advance
more and we see no difference from
these liberal advances which is $780,
coo, 600 more than We now ask under
the Sub,Treasury bill. Surely specie
will not run away because the security
is good, such things never has yet
happened.
The Colonel is terribly frightened
about the great imitation of the circu-
lating medium that will follow the
adoption of the Sub, Treasury bill.
The cotton crop Of 1889 amounted all
told in round numbers 1912, 600, 600.
Suppose this entire crop was put
through the warehouse system, and
stored during the months of Septem,
Der, October, November and Decem
Der, how would the account stand on
the first day of J4nu ,ry following.
Under this system 500, 600, 900
would be sold to consumers monthly,
making one hundred and four millions
consumed. This would leave two
hundred and eight millions worth on
deposit, then suppose the full limit
had been advanced on every bale, the
amount outstanding on the first of
January would be one hundred and
sixty SIX million dollars. We will
now estimate the grain to be stored at
three hundred and sixty million dol
lars, for it must be remembered that
~two-thirds of the grain crop must be
retained on the farm for consumption.
Now suppose this grain is all stored
during the months of August, Sep
temb3r, October and November, how
would the account stand on the first
day of January following under this
system? Thirty million dollars will
be delivered monthly to consumers.
This would amount to one hundred
and fifty million dollars, deduct this
from the three hundred and sixty
million dollars would leave two hun
dred and ten million dollars worth on
hand and if the limit was advanced
upon 1t the amount would be one
hundred and sixty eight million dol
lars. Add the two together and we
see that there would be outstanding
on the first of January three hundred
and thirty four million dollars. This
is the sum total of the initiation. This
would be rapidly retired by sale of
the produce.
Nov during 1889 there was ex
ported from the United States over
five hundred and thirty two million
dollars worth of farm products every
dollar Of which had to be paid for in
money, because our tariff laws pre-.
vented Us from taking the produce of
those purchasers in exchange for ours.
These foreigners were compelled there
fore to hunt customers for their pro-
duce elsewhere and if they could have
secured elsewhere the farm products
they did buy from US it is but reason
able to say they would have done so,
therefore WI are forced to conclude
that they made these purchases from
US under compulsion. 1t naturally
follows that we we're the masters of
the situation and that they were com.
PEELED to pay US in the kind of money
nat we were willing to take, hence
Col. Mills much ado ABOUT initiation,
or the gold and silver LEAVING the