Morris tribune. [volume] (Morris, Minn.) 1880-2000, 1890-03-19
For the NORRIS TRIBUNE.
The Sub-TreaSury Warehouse

1 ilS QUIZ CooOIJ Wv al SIlOuSS
Is plan devised by the Nationafs7ar
mers Alliance and Industrial Union, and
through AIonzo Wardell, the president
of the National Alliance Insurance Co.,
it was lately introduced in the House by
Representative ]. A. Picker, of South
Dakota, and Senator Vance, of South
Carolina, in the Senate. The following
is an analysis of the plan as presented in
the bill:
1st.-The warehouses are to be built by
the government at q point elected by vote
in each county or district, and they are
to be known as Sub treasures" 1t re-
quires 100 petitioners and an annual pro-
duct of the value of 100000, to secure
1t.
2d.-They will be used for the storage
or warehousing of the grain, cotton, to-
bacco, or general products of that ma
ture. The superintendent shall grade
same, and give warehouse receipts or
certificates.
3d.-The owner of the grain or pro-
ducts may receive on his receipt eighty
per cent of the value of the same in trea-
sury notes, bearing one per cent interest,
said money" to be prepared by the trea-
surer of the United States, and to be a
full legal tender.
4th.-Provisions are made for return
of money so borrowed on warehouse re-
ceipts, and its cancellation or destruc-
ton thereafter.
5th.-That managers of warehouses
shall not receive more than 81 500 year
salary, nor shall his term of office be
over two years. The office shall be cleo
tive.
6th.-Fifty millions dollars to be ap-
propriated for the purpose of carrying
out the plan.
Our late State Alliance voted against
the undertaking, and Mr.. Wardell now
appeals to the individual alliances to
discuss the important project, either to
endorse or reject. Doubtless many who
voted against supposed it to be wholly
an innovation upon established law and
custom, and under the circumstances
deemed 1t the wiser course to lay it upon
the table-in fact ignoring it. Now let
us see if it is not worthy of our careful
consideration. In the first place be it
said, it is not an untried policy. Gov
eminent warehouses have been estab-
lished in other countries. In ancient
times it was the rule. 1t will be recol-
lected that duaing the late Franco-Prus-
sian war, the French government, then
trembling as in a balance, loaned vast
sums of money direct to the peasants
and other laborers, then in great distress,
taking such securities as were at hand,
and in some instances no security at all
when the parties were known to be hon
est. This patriotic policy enabled the
producing classes to provide means for
the protection of their brothers in arms,
to save their country from utter ruin
and emancipate themselves from crush
ing debts. During the late rebellion,
the policy of our federal government
was virtually parallel with that of
France. By bond-loaning system with
greenback issues thereon based and a
circulation commensurate with the emer-
gency, our soldiers were sustained and
our armies triumphed.
Practically our laboring classes, farm
ers especially have reached crisis; they
are overwhelmed with debts; deprived
of the comforts of refined society; en-
shaved to the monopolies; cramped in
all their energies while struggling for
existence; growing poorer while the
wealthy few are growing richer. A much
longer continuance of this great dispari-
ty between labor and capital, brings our
Republic to the verge of destruction. All
our patriotic thinkers foresee such an If
retrievable calamity unless some practl-
cal retrenchment is put into speedy exc
cution, The Sub-Treasury project may
not be the best; but it worthily COM
mends itself to our serious analysis. 1t
certainly will relieve the distress Of our
farmers and give them the independence
they deserve. 1t eliminates all gamblers
from the produce markets. Thus putting
means in the hands of our farmers with
perfect safety to the government, all
branches of our business begin to thrive;
the farms are soon cleared from mort
cages, and agriculture takes the rank it
deserves. The curse of usury is thus
blotted out, and justice is secured to the
millions who earn all the property of the
country. Come, let us give this matter
candid and brave consideration,
J. 0. BARRETT.
Browns Valley, March II, 1890.