The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-12-10
-he Alliances financial Policy.

/ ne AAlbnCeS r ii HECi6l RClaCT.
There is not entire harmony in the ALI
Ance relative to the alliances financial
policy. The amended demands adopted by
the Ocals convention Just before adjourn
nnent on Monday night were vigorously op-
posed By few Of the members. Mr.. Hall,
The president Of the Missouri alliance, was
very emphatic 10 his opposition 70 them.
And no one can read the discussion without
getting the impression that what he said
cannot he successfully ans wsred-
He was especially severe 10 his remarks
on the demand that the government shall
/ establLsh sub-tgeasuues or deDcsitories il
! the several states, which shalt loan money
direct to the people at a low rate Of inter
/ est, not 70 exceed per cent. per Annnm, On
/ non-perishSble farm products. and also upon
/ real estate He declared that the consti-
/ tuition did not permit compliance with such
[ a demand
! Il would be very curious proceeding for
/ the government TO collect money from all
/ CLASSES Of the people and 70 loan it to one
/ class at a rate Of interest that would not
/ yield an amount sufficient to cover the ex-
! pensss Incident 10 the loauing of II and
/ The people other than the farmers would
! protest vigorously against taking from them
their earnings il order To help the farmers.
Under q proper administration Of the gov
eminent there would never De any con
siderable surplus in the treasury. The
revenues would jast about meet the ex-
penditures and ths requirements It the
SINGING fund. For several years there was
a surplus Of s50,000,000 or more in the
treasury, but that sun would not 20 very
far toward meeting the wants Of the farm
ers. II they coald get money at per cent.
or less they would take several hundred
millions of dollars, and then they would
not have half enough 10 pay OF the mort
cages on their farms.
There Is no surplus in the treasury now,
however, and within the next year or two
it is much more likely that there will be
deficiency than q surplus. Is it the ALI
ance's idea that taxes shall be increased in
order that money may be obtained to com
ply With It's demandl
And why should the government loan
money TO farmers at 2 per cent. and not
loan it 20 merchants mechanics and manu-
facturersl Have the farmers superior
claims on the government And If the
alliances demand should be granted
what would prevent the farmers
from borrowing money from the
government AZ 2 per cent, snd losning it
20 the blacksmith, carpenter, shoemaker.
the baker and candlestick maker at 5 or IL
Per cent. The farmers would have about
all the money. because the government
would have TO collect it from the masses TO |
supply their demands, and they could de-
mand any rate Of interest they pleased for
&c.
In one of its demands, the alliance says
Believing in the doctrine Of equal rights
70 all and special privileges 10 none. we
demand that our national legislation shall
be so framed as not to build up one indus
try at the expense Of another"
How does the alliance reconcile
this with its demand that the government
shall loan money only to farmers at per
cent. per annum? 1t can't reconcile it, and
no allisnceman will attempt to do So
There never was more conspicuous class
legislation than that proposed at Ocala.
It is evident that the alliance fiuauciers
do not know much about financial matters
or else they think they can hoodwiuk the
public. Their financial policy is 50 prepos-
ferrous that there is no immediate prospect
that they will have the satisfaction of see
ing it adopted.