The great West., 1890-05-02

addition to your tax and als0,agree
this would hit the speculatoY- just as
it hits the resident farmer. u: puts
me in mind of the old story Of cut
ting of your nose to spite yOm face.
The effect of this would be.to de-
preciate tho value of all lands, if
worth anything now, because Of. this
burden and to enhance the value of
all personally because of the removal
of the tax. C. M. Burr.
Firoqua, Wis.
II. L. Lszaks In the n. W. Farmer.
The following letter of President
Loucks is taken from the 'sFIrmer. :"
and given to our readers, as it may
throw light on the matter of the Sub
treasury Bill:
MINNEAPOLIS, Apr: IS. 80.
EDITOR n. w. FARMER:
In your issue of Apr. 18th, note
an article opposing our Sub Treas
ury bill. Knowing full we'll your
earnest desire to assist our farmers,
| can only attribute your opposition
to your not having given sufficient
thought to the subject. The prin-
ciple Of the bill is not q new one. It
has been successfully tried in France,
and has been in operation in our.
own country for many years. The
National Banker can take govern
ment bonds, deposit them, and re-
ceive 80 per cent of their par value in
National Bank bills. The silver mi
ner can deposit his bullion with the
.. S. Treasurer, and receive silver
certificates for it's full value. Even
the whiskey distiller can deposit his
whiskey in Government store houses
and receive certificate that is readi-
ly negotiable. In none Of these cases
do the parties pay any interest, or,
expenses for storage, etc. AS you
will see our bill proposes paying all
expenses in connection with the busi-
ness, as well as suficient interest to
pay for expenses of issuing and re-
deeming the certificates. We do not
ask to burden any other class to,sus-
tain our industry. 1t is because. OF
this modesty OF the farmers in max
ing demands that we have received
SO little attention in the past and
ridicule at present, when we ask to
be treated almost but not quite as
well as the more favored classes, /
know of no state in the Union that
would be helped as. much by such a
measure as North Dakota. Its bene-
fits will be three-fold.
First, it will nexessitate a system
OF grading uniform throughout the
nation and not subject to change
in the different States through, which
it passes to market
2nd. Farmers can secure the 80
per cent advance at a reasonable
rate of interest, and not be forced to
rush their wheat to market in sixty
days, quitting the market and de-
pressing prices. 1t will also enable
the railroads to handle the crop bet
ter, by giving them a longer. season
in which to haul it.
Sd. And most important, it will
increase the value OF currency and
thus enhance the price Of all farm
products and all labor. The details
of the bill may be in a crude shape,
and will undoubtedly be changed, as
discussion brings forth the weak
points, and kindly criticism is in
vited on the part of our friends. We
wish, though, that they would care
fully read the bill first, SO that they
would make no mistakes Now, as
to some of your objections: 1t is
not contemplated in the bill to es-
tablish warehouses in every county,
but only in counties whene they have
grown grain or cotton to the value
of $5OO,OOO. q am in favor of a
more liberal extension(. | cannot
see where you see the extra handling,
as the proposed warehouse would
take the place of the present eleva-
tor. There can be no more difficulty
in adjusting the accounts for the 20
per cent than there is under the pres
ent system. We, (The. Alliance EIeva-
tor Co.., have this season advanced
80 per cent on large quantity of
wheat stored with us, ana nave
found no difficulty in adjusting the
balance, whether the market went up
or down. This is a matter of detail
that can be satisfactorily arranged.
The owner of the certificate can send
his certificate for sale, to any agent
he chooses. / am not an authority
on handling grain, but have some
knowledge of it, and cannot imagine
where the increased cost of 8 to 5 per
cent can possibly come in, and would
like to see the figures for it. Certain
ly one elevator at a stations where
there is a short crop is an example of
economy taken by our elevator men.
Under the present system the busi-
ness is done for the profit to be made
out of it. Under the proposed plan
there would be no profit to make,