The true northerner., 1890-12-17
THE SUB-TREASURY SCHEME
Lincoln Journal.

Lincoln Journal
The sub-treasury scheme of the alli-
ance prophets and dictators is one of
those doctrines that they reserve mostly
for secret advocacy in their lodges.
They are quite chary Of putting it to
the front in their national and state
declarations Of principles, but they use
il with great effect i'm the rural lodges
for it is the greatest and most tyrannous
class combination of producers 10 force
the market To their advantage, ever
soberly put forward since the time of the
French revolution. The anarchists
would perhaps in an insane moment
adopt principal as wild as this, but the
anarchists are producers, rs general
rule, OF wind only, and are not worthy of
serious attention.
This is the scheme. IN every county
in the country whore proof is made that
the agricultural products amount 10
$500, 900 per annum the secretary of the
treasury shall open out an Office To be
called a Sub-treasury and put up ware
houses of sufficient capacity TO hold
all the agricultural products Of the
country. such rs cotton, grain. tobacco
and everything that will keep in store.
The sub-trcasury being opened and the
warehouses prepared, every farmer will
have the right to store his crops in the
warehouses, taking the receipt therefor.
The storage and insurance charges
shall be just sufficient to pay actual cost
Of the same TO the government. Upon
getting such a warehouse receipt, the
farmer will step up 10 the sub-treasur-
er's Office and draw an amount in
treasury notes that are legal tender,
equal 10 so per cent of the market
| price" Of the grain or tobacco or cotton
that he has deposited. This money he
can keep for any time he sees fit. Fin
! ally when he gets ready TO sell his ware
house receipt he pays l per cent per
annum interest on the money the
treasury has advanced him and the stor-
age and insurance charges.
OF course the first benefit expected by
/ the alliance men from this arrangement
| is the cash in hand, as soon as he stores
| his crop. But the chief profit and ad-
vantage is that he and his neighbors and
the farmers generally will be able 10
combine and refuse TO market the years
| product of grain or cotton or tobacco
until the famine in the land is sufficient
TO send up the price.
The chief attraction of the scheme is
| the combination or trust part of it, and
the people at large will have to bear
the expense of boarding the products OF
the farm and keeping them out Of the
market until the combine can get its own
price for them. The people will merely
| pay the farmer so per cent OF the pres
ent value of his crop and hoard il foI
him at a minimum expense until the
farmers have run the price up as high as
they think the nation can stand, and
then they pocket the difference, whether
the retention OF the crop from the mar
ket has doubled or trebled il in value.
No other producer i'm this country
however, is 10 be allowed to go into Q
like combine" for the raising OF the
value of his product. The laws are TO bt
made so stringent that it will be pena
offense for the laborer who manu-
features iron or stonewarc or furniture
or shoes or clothing, To enter into an ar
rangement TO control the market by
holding by part OF the supply unit
prices rise. The only legal combine will
be that made on an immense scale by tn,
honest farmers with the United States
treasury to furnish the capital necessary
to maintain and support the trust.
In addition to the "sub-treasury'
scheme is the plan OF drawing on tn,
treasury of the country TO The extent o
so per cent OF the appraised value o