The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1890-10-21

fation of the currency save when the
products were delivered to the ware
house and receipts issued to the pro
ducers. AS long as the wheat and
cotton were in the warehouses he
could not sell it, and so the advance
ia the price would be of no profit to
them. When they returned their re
cerpts and withdrew their products
there would be q contraction of the
currency and prices would fall, which
would clearly give the spectators alb
solute control of the markets and the
farmer would be ground then more
certainly than now beneath the upper
and neither milestone"
If there is any reason in the above
we have nog been able to see it.
i" When they withdrew their products
prices would fall" The world must
have these products inside of twelve
months. Prices would not go down
from the fact that the products would
be sold all along through the year in
stead of being pu5 on the markets as
they now are in a few months. For
instance, at present the cotton crop is
nearly all sold IN three or four
months. With the warehouse system
it could be sold at any and all times
according to supply and demand.
Really that is one of the very best
things in the measure. Yes, indeed,
we want to be thrown into the hands
of the spectators just that way.
The Court r Journal goes on TO fall
into the error of calculating the en-
tire cotton and grain crops in ware,
houses and the probable effect. That
is sheer nonsense. Only a small oor-
ton of any crop need be in the ware
houses at any stated time. Then it
says a good deal about the amount of
products that would be left over at the
end of each year. If the world pro-
poses to go half-fed and half clothed,
then there is something in that. If
not then there can be no large amount
on hand at any time above tie actual
necessities of our people.
Again Mr.. Watterson says:
alt is extravsgant and offers
nothing that can compensate for the
money expended. 1t is contrary to
the interests of the farmers them.
selves, being absolutely in the hands
of the spectators. 1t augments and
extends the power OF the Federal gov
eminent in a way that is certain to be
injurious to our freedom in local
affairs. 1t is a step away from the
simplicity of the republic in, the direc
ton of an unlimited despotism."
A part of the first sentence in the
above paragraph is true" that it is
extravaganza" But that it offers
nothing that can compensate for the
money expended we will be slow to
believe. 1t offers everything that can
compensate for the money expended.
The cost will be very great, out it
will not be a drop in the bucket com
pared to the amount gobbled u9-
all klnds-o~rusts-a and dealers in
futures. 1t is to save themselves
from the herd of spectators that the
farmers are asking for this measure.
If 81, OOO, 600 worth of produce be
deposited $500, 900 will at once be
put in circulation. How the people
would be placed in the hands of the
spectators is not shown. Our gov
eminent has already "stepped far
away from the simplicity of the re.
in many directions, yet our
farmers have not been treated to any
OF that favoritism. We want an equal
chance with other people, and if the
Sub Treasury plan don't fill the bill,
name something that will.