The Camden chronicle. (Camden, Tenn.) 1890-current, 1890-08-22
THE sUB-TREASURY BILL.
Text of the Measure that is Urged
by the Farmers and Laborers'
Union.

The bill introduced in the House
February Is, 1890, by Mr.. Picker,
prepared by the committee of the
Farmers and Laborers' Union, in
accordance with the action of the
St. Louis convention, and known as
"the sub-treasury BILL" is as fol-
lows:
Be it enacted by the Senate and
House of Representatives of the
United States of America in Con-
gress assembled, That there may
be established in each of the coun-
ties of each of the States and Ter
ritories of the United States a
branch of the Treasury Depart
ment of the United States, to be
designated and known as sub
treasury, as hereinafter provided.
When one hundred, or more, citi-
zens of any county in any State
shall petition the Secretary of the
Treasury requesting the location
of ub-treasury in such county,
and shall: First, produce written
evidence, duly authenticated by
oath or affirmation of the county
clerk and sheriff, showing that the
average gross amount per annum
of cotton, wheat, corn, oats, and to-
bacco produced and sold in the
county for the last preceding two
years exceeds the sum of 100000
at current prices in said county at
that time; second, present a good
and sufficient bond for title to a
suitable and adequate amount of
land to be donated to the Govern
ment of the United States for the
location of the sub-treasury build
ings, and, third, a certificate of cleo
ton showing that the site for the
location Of such a sub-treasury has
: been chosen by popular vote Of
! the citizens of that county, and also
} naming the manager of the sub,
treasury elected at said election
for the purpose of taking charge
of said sub-treasury, under such
: regulations as may be prescribed
it shall then and in that case be the
duty of the Secretary of the Treas
: ury to proceed without delay to es.
+ tablish a sub-treasury department
! lin such county as hereinafter pro
Y vided.
SECTION 2. That any owner O
t cotton, wheat, corn, oats, or tobacco
9 may deposit the same in the sub
D treasury nearest the point OF it,
g production, and receive thereto.
: treasury notes hereinafter provided
e for, equal at the date of deposit t.
so per centum of the net value o
such products at the market price
i said price to be determined by tn,
!. manager of the sub-treasury, unde
4 rules and regulations prescribed b.
e the Secretary of the Treasury, base,
I upon the price current in the lead
g ing cotton, tobacco, or grain mar
k kets of the United States; but III
y deposit consisting in whole or il
d part of cotton, tobacco, or grain
e imported into this country shall b
y received under the provisions O
q this act.
W SEC. 3. That the Secretary of tn
Treasury shall cause to be prepare
! Treasury notes in such amounts a
= may be required for the purpose c
!, the above section, and in such forr
Re- and denomination as he may pre-
! ! scribe; provided that no note sha
~ be of denomination less than $
:, y or more than 81, 900.
D Sec. A. That the treasury note
- under this act shall be receivabl
- ~ for customs and shall be full leg'
20 20 tender for all debts, both publ
= and private, and such notes, whe
W held by any national banking a
" ISOLATION, shall be counted as pa
~ of it, lawful reserve.
SEC. 5. That it shall be the dut
of manager of sub-treasur
g. when cotton, grain, or tobacco
ce received by him on deposit,
above provided, to give a war;
ty house receipt showing the amour
n and grade or quality of such cotto
lis tobacco, or grain and its value
is date of deposit; the amount
is treas Try notes the sub-treasury h
no advanced ON the product; that Il
ry interest on the money SO advance
ed is at the rate of ! l per eentum p
of annum expressly stating Il
of amount of insurance, weighin
to CHASING, warehousing and 9th