Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-06-01

after he gets his warehouse receipts he has a
remaining interest of only 20 per cent, less
charges for interest storage, ETC., and this is all
he can dispose Of he VIII nnd the time raplaly
deem his products or sell his small remaining
interest in them, or allow them to be sold az
public auction by the Government. and this
will be the golden opportunity of the specu-
lators whose agents will swarm all over the
country ready to take the warehouse receipts
from the embarrassed owners for q merely
nominal sum.
The receipt is simply privilege of redemp-
tion, like pawnbrokers ticket, and the
farmer, being himself unable 20 redeem, will
be forced ultimately to dispose of it at any
price offered. do not think that any consid-
cradle number of intelligent people in this
country will unite in asking the Government to
establish a system which will compel them, in
a large number Of cases, to sacrifice the prod
Senator Carlisle argues at some length to
show that the plan proposed would produce
an annual expansion and contraction of the
currency which would re suit in absolutely
destroying the market upon which the
farmer must depend for the sale of his crops
and that the cotton farmers, who are sup
porting the scheme, would be sufferers because
the plan in the writer's estimation would
close every cotton factory in the country.
He added:
FOR SPECULATIVE PURPOSES.
No such factor as this project will afford for
controlling the markets for purely speculative
purposes has ever existed in this or any other
country and no more perfecr system for the
oppression of the poor could be devised. The
exact quantities of products on deposit in the
several public warehouses will be known in
every commercial and financial center, and
to purchase and hold the receipts
could be easily made, especially when they can
be procured by the payment Of a small per
centum of the value of the deposit.
1 have thus given you as briefly as the nature
of the subject would permit. some of the
reasons why think the proposed plan for the
relief of the farmers would be injurious instead
of beneficial, not only TO them, but to all other
people of the country. But it would be uncan-
did not to say distinctly before closing this
that even if it could be con-
clusivey shown that this or any other similar
scheme would be pecuniarily beneficial to any
particular class of people, would still be un-
alterably opposed to its adoption, because, in
my opinion, 1t would be but another
Piles upon which our political institutions are
1t would be in fact the longest step
vet taken in time of peace toward the consoli-
dation of power in the hands of the Federal
and the subsection of the private
affairs of the people TO the supervision and
control of a central and irresponsible author
ity. You and are Democrats, and as such we
believe that the Government should scrupu-
lousy abstain from all unnecessary interfer-
eIce with the personal ana domestic concerns
Of its citizens and contne itself strictly to the
of purely public affairs.
1t is a cardinal principle of our political faith
that the people are best governed when they
ire least governed, and that they are most
prosperous and contented when left TO the free
exercise of their own judgment in the manage
ment of their own business subj ject only to such
regulations as may be necessary to
preserve the peace and good order of the CON-
nunity These propositions are fundamental
and we cannot abandon them without repudiat-
ing all the traditions of our party and all the
distinctions between constitutional government
and paternal despotism.