The advocate., 1890-02-27
THE sUB.TREAsuRY PLAN.
Declaration Of tho Farmers Alliance
and industrial Union.

adapted TO further the interests Of tho spoCu-
lating class, at tho expense and to the mani
fest detriment of tho productive class,
and while there are many forms Of relief
offered, there has up TO tho present time
been no true remedy presented which has
secured a support universal enough TO rem
der itB adoption probable. Neither Of the
political parties offer a remedy adequate
to our necessities, and the two parties that
have been in power since the war have pur-
sued practically tho same financial policy.
The situation Is ths The most desirable
and necessary reform Is one that will adjust
the financial system Of the general Govern
ment 30 that its provisions cannot be utilized
by class, which thereby becomes privileged
and Is in consequence contrary TO the genius
Of our Government, and which is to-day the
principal cause Of the depressed condition
of agriculture. Regardless of all this the
political parties utterly ignore these great
evils and refuse TO remove their cause, aud
the opportunities OF the privileged class
can, by means Of the power Of money TO OPP
press, exact from labor all that II produces
except bare subsistence. Since, then, IL Is
tho most necessary Of all reforms, and re-
ceives no attention from any Of the promi-
nent political parties, IL Is highly appropriate
and important that our efforts be concen-
trated TO secure the needed reform in this
direction, provided all can agree upon such
measures. Such action will in no wise con-
meet this movement TO any partisan effort,
as il can be applied to the party TO which
each member belongs.
In seeking true and practical remedy
for the evils that now flow from the imper-
fections in our financial system lot us first
consider what is tho greatest evil,
and on what IL depends, the one
that outstrips all others 80 far that it is in-
stantly recognized as the chief, and known
with certainty to be more oppressive TO the
productive interests of the country than any
other influence, is that which delegated to a
certain class the power to fix the price of all
kinds Of produce and OF all commodities.
This power is not delegated directly, but IL
is delegated indirectly by allowing such
class to issue a large per cent. Of money used
as the circulating medium Of the country,
and having the balance OF such circulating
medium, which is issued by the Government,
a fixed quantity that is not augmented to
correspond with the necessities Of the times.
In consequence of this the money issued by
the privileged class, which they are at liberty
TO withdraw at pleasure, can be, and is, 30
manipulated as 10 control the volume OF cir
culating medium in the country sufficiently
to produce fluctuations in general prices at
their pleasure. II may be likened unto
simple illustration in philosophy; The in
flexible volume of the Government issue is
the fulcrnm, the volume Of the bank issue
is applied, andit is either raised or lowered
with great certainty TO correspond with the
volume of bank issue. Amy mechanic will
Instantly recognize the fact that the quickest
and surest way of destroying the power Of
the lever TO raise or lower price is 10 remove
tho resistance offered by the fulcrum-tho
inflexible volume Of Government issue.
The power TO regulate the volume Of money
so as to control price is so manipulated as
TO develop and apply a potent force, for
which we have in the English language no
name; but il is the power Of money TO OPP
press, and is demonstrated as follows: In
the last four months of the year the agri-
cultural products of the whole year having
been harvested, they are placed on The mar
ket to buy money. The amount Of money
necessary to supply this demand is equal TO
many times tho actual amount in circula-
tion. Nevertheless the class that controls
the volume Of the circulating medium de-
Breg TO purchase these agricultural products