The Caucasian. (Clinton, N.C.) 188?-1913, 1890-07-03
THE EDITORS CHAIR.
HOW THINGS LOOK FROM
OUR STAND POINT.
The Opinion Of The Editor and the
Opinion OF Others which we
Can Endorse on the Various
Topics of the Day.
THE SUB-TREASURY BILLILLUSTRA-
TED.

scheme il not DraC CtiCal, but we
venture the assertion that nine
ty-nine out of every hundred of
such pers Ons have not even read
the bill, but take their opinions
from Il few, who, for reasons
best known TO themselves, are
are fighting the order. Now
the Sub Treasury bill is one of
the most practical measures
that has ever been presented to
the American Congress and GER
tainly measure that is torn
Of necessity. Col. John r. Rea-
man, Treasurer of Sampson Co.
gives the following extremely
practical illustration:
Last year he made nineteen
bales of cotton. He sold eigh-
teen bales during November fol
81 cents per pound. He held
one bale. Why did lie do this:
Because he knew that the spec
ulatOrs were buying up the cot
ton last fall at their own figures
and he decided to try to hold
one bale till the spectators be
gan to sell and get himself tile
tie profit that they would make
on it if he had sold it then to
them. Why did he not hold all
his cotton for the same reason
Because, like the great bulk of
our people, he was not able to
do so. He was forced to sell,
for he needed the money. Last
week Col. Beaman noticed that
the spectators had pushed the
price of cotton up to II! cents.
He knew that they had now
bought up all the cotton and
we're now selling. So he deci-
ded to sell the one bale he had
left aud got III cents for it.
In short, this bale brought him
over ten dollars more than it
would if sold last November.
Ten dollars on nineteen bales
would be one hundred and nine
tY dollars. This much he con-
tributed to the millions of the
spectators. If every man in
the county could have held
their cotton till now, the cOun-
ty would be $4,000 better off
than it is. every citizens of the
county to-day, whether farmer
lawyer, doctor Or merchant
would feel the good effects.
How can this merciless grip
of The speculatOr be broken and
the enslaving necessities of the
people be relieved? The Farm
ers' Alliance proposes a remedy,
but the speculator hOwls that it
is unconstitutiCna and imprac-
ticablr. But is it unjust? No!
Then is it unconstitutional that
we are against the constitution?
Is it practical? We will see
just how it would have worked
in Mr.. Beaman's case last fall
If the Sub Treasury bill had
passed and we had warehouse
in Clinton, he would have de
posted this bale OF cotton in it,
taken a receipt for it and had
80 per cent. of the then value
of the cotton issued to him in
Government notes, which Is le-
gal tender money. The bale
weighed six hundred and two
pounds, and at 81 cents would
have been worth $57.19. SOpel
cent of this amount is S45.75
which amount would have beer
paid to him. Last week he
would have gone to the mana
ger Of the warehouse and order.
ed him to sell the bale of cot.
ton. Upon weighing it it is
found to have lost six pounds
so five hundred and ninty-si1
Ipounds of cotton is sold at II!
cents, bringing Sos. 81. From
this amount he would take nine
teen of the $45.75, advanced tC
pay for the expense of running
the warehouse, which is forty
six cents. leaving S6S.OS. Thus
the agent would pay over tC
Mr.. Beam IN this amount, less
the an. .ount he had advanced in
tho foil xrhioh xro.rII hn GOO %