The Bottineau pioneer. (Bottineau, N.D.) 1885-1895, 1890-04-12

ing of North Dakota. Send IN your
name.
The Sub Treasury Plan.
Extracts from the proceedings of the Na
tional Farmers Alliance and Industrial
Union at the St. Louis Meeting; Decembe,
1889:
Committee on constitution reported on
the monetary system, which after an ami
mated discussion was carried by . large
majority. ''That tue system Of using GER
tain banks as United States repositories,
te abolished, and in place Of said system es-
tablish in every county in each of the states
that offers for sale during the year FIVE hun
dred THOUSAND dollars worth Of farm pro-
products, including wheat, corn, barley.
oats, rye, rics, tobacco, cotton, wool and
rugur, altogether. A sub7treasury office,
which shall have in connection with il such
warehouses or elevator rs may DO necessary
for carefully storing and preserving u
agricultural products as are offered for stor-
age; snd it should be the duty Of such sub
treasury department to receive such agri-
cultural products As are oferei for storage,
and make Q careful examination Of such,
and class same as to quality ard give o GER
,ti6cate of the deposit; showing the amount
and quality; and that the United States le-
gal tender paper money equal to eight per
cert of the local current value of the pro-
ducts deposited has been advanced on the
sam on interest at the rate Of per &c mt
per annum, on the condition that the owner
or such other person as he may authorize,
will redeem the agricultural products with
i'm twelve months from date Of certificate,
or the trustees shall sell same at public auc-
ton to the highest bidder for the purpose of
satisfying the debt. Besides the one per
cent interest the sub-treasurer should be al
lowed to charge a trile for handling and
storage, nd q reasonable amount for insur-
Ill ;but the premises necessary for con-
Quoting this business should be secured by
The various counties, donating to the gener
oil government the land, ar d tie government
building the best modern buildings, fire
proof and substantial.
With this method in vogue the farmer,
when his product was harvested, would
place it in storage where it would be per-
iectly safe. and be would secure four ffths
OF its value to supply his pressing necessi-
ties for money at one per cent per annum.
He would negotiate and sell his warehouse
or elevator receipt whenever the current
price suited him, receiving from the person
10 whom he sold only the difference be.
tween tae price agreed upon aud the ame unit
already paid by the treasurer, When, how
ever, these storage certificates reached The
hand of the miller or factory or other con-
sumer, he, to get the product, would have
to return to the sub-tressurer the sum ad-
yanced, together with the interest on same
and tho storage and insurance charges ON
the products. This is 20 new OF untrisd
scheme, it is safe and conservative; it har-
nonises and carries out the system now in
vogue on a really safe plan, because the pro-
ducts of the county that must be consumed
every year are really the very best securi-
~ in the world, and with every justice to
society at large. For q precedent attention
is CALLED to the following: In Deco mber
1848, the London Times amour ced the in
evitable failure of the French republic and
disintegration of French society in the near
future; but so wise was the administration
Of the statesmen Of that nation that two
months later it was forced to eat its own
words. "In this extremity. when the banks
stone retain any available sums Of money,
the government came to the rescue, and on
the night Of the 18th Of March the notes Of
the banks were by . decree made . legal
tender But this was not all. ITO enable
the manufacturing interests to weather the
storm at q moment when all the sales were
interrupted, o decree Of the national assembly
had directed warehouses to be opened for
the reception Of all kinds Of goods, and pro-
yided that the registered invoice Of the
goods 80 deposited should Do made 9egoti-
sbie by Endorsement. bank q frsps -
DISCOUNTED these receipts" lin Harve
aloDe eighteen millions were thus advanced
on colonial produce, and in Paris fourteen
millions on merchandise. In gil, sixty mil
lions were made available for the purpose Of
trade. Thus the great Institution had
placed itself in direct contact with every
interest OF the community from the minister
ri the treasury down to the ira der in . dis
fant outpost:4 Like . huge hydraulic msch-
me. il employed It's colossal powers tc
pnmp 1 fresh stra4nQ into the exhausted
sriaries Of trade to sM nein credit and pre-
.erye the circulate IN fro collapse" Frsm
"a n.nl Of EngianI adll Id tile rate Of in
teraaf III. London 1873. This is proof posi-
sive. and q clear demonstration in 1928,
that this tYstem could accomplish. And
.,,sy with the various means Of transports
ton ard the facilities by telegraph for the
;-n.aaneou. transmission Of intelligence,
would I ,nder such 8 system easier managed
nd more necessary. House Of representa-
iiyss' bill No. 1852, introduced by Hon.
Io1n IA. Pickler, Of South Dakota. efnhhoniea
tSe demand Of the Farmers Alliance and
industrial Union. Senate bill No. 2816, IN
eroduced BY Senator Vance. Of North Carol
tn. contains practically the same provis-
ions & lhe bill introduced ~ Mr.. Picker,
Mr.yance II j democrat and Mr.. Pickler :
republican, ths re e no polisical complexion
rs sle I'LL. Ia asking farmers g support
sahis sreat moSspent the Ailisnce seys:
ssOar fclAhArhs-s fought tin the revolution
- uar. u,skinx sacri6css that will Per.
1seu1te their names forever in history, 70
s-nsncipaas productive labor from the power
~ Z monarch % Cypress. Their battle cry
~ Liberty Our monarch il 9 false, I'M
INT and sfatutoIy .power, gisen 70 monsy,
ssii.,aans3l for ! conflict On our part %
smsnsipets productive lsbor from the poNe.
m 4 Is opprssa. Let the waterford
AaeIa be LSbsEsy