The advocate., 1890-04-30

bushels. The most liberal estimates for the
construction OF elevators OF that size do not
exceed $4,000 oach or an aggregate OF $b-
100000 The warehouses necessary for atOr-
ing cotton and tobacco can be built no much
less cost, but counting them no the same
price the 313 warehouses would cost S7,A0O-
900, and this very liberal estimate Of the
cost of construction of all the warehouses
and elevators possible under this law would
only be SlG,30,000 OF course this estimate
is only designed 10 be an approximation,
and as such is fair and reasonable.
The building OF these substantial and use-
ful buildings In the smaller cities and county
towns of the rural districts will do much 10
encourage and develop growth and enter
prise and be the means OF establishing homo
manufacturing enterprises, thereby OperAt-
ing as a check upon the deplorablo tendency
toward the TuinOusly expensive system OF
concentrating everything In the cities. En-
courage the growth OF one good manu-.
featuring town in each county, and much
will be gained toward rendering farming
PROSPEROUS. For example, there are not
nearly as many Touring mills scattered
through the farming districts OF the
country as there were twenty years
ago. Then the farmer usually carried
his grain 10 the mill and -four and bran
back; but now the rule IN 10 sell his wheat
and buy patent flour. The great milling
corporations have crowded the small miller
10 the WALL because they we're able TO buy
years supply OF wheat mt time when the
market was lowest, and since he Is crowded
out tho farmer is compelled 10 pay freight
on both his wheat and flour. With the wheat
at home until demanded by consumption,
there would be no such advantage TO the
capitalist.
Again, II is conservative M presented In
this bill, because II is limited 10 only FIVE Of
the leading articles OF agricultural produc-
tiOn. True, the principles involved once
admitted and demonstrated TO be correct by
experiment can not in justice be confined
by an arbitrary limit to five or any other
number Of agricultural productions, AZ all
products of labor can and will justly demand
like recognition. But while IL may be
proved 10 the entire satisfaction OF every
one TO be correct IN principle, It's intrOduc-
tOn must be guarded in many details calcu-
lated TO prevent abuses, and these
details, many of them, can not be
foreseen, but must be gathered by
experience. Therefore, the introduce
tiOn and starting of this machinery is
TO a great extent experimental, and 10 is the
part Of a true and wise conservatism To pro-
Ceed with safety and caution, admitting as
few articles as possible until all the joints
are we'll fabricated and in good, smooth
working order
The necessity for o flexible feature or
quality in the circulating medium of this
country has already been shown inciden-
tally. This has always been recognized by
economists, but the march Of material
progress in recent years, whereby the whole
world is converted into daily market has
intensified this necessity by shortening very
materially the season in which the products
of agriculture are marketed, thereby short
ening the period of, and lntensifying It's de-
mand for money and creating q correspond
ingly greater variation between the ade-
quacy Of volume TO demand at the different
seasOns,t thus making what the earlier econo-
mists considered an element Of minor im-
portance in the disturbance of prices, one Of
the most important agencies for that pur-
pose at the present time. In this cOnnec-
tion the following maxims are offered az
concise statements Of ultimate truth in the
premises;
A fluctuating demand for money met by
a hxed OF inHexible volume, whether great
or small, will be attended with iluctuating
prices.
A stable axed and regular demand for
money met by iluctuating volume will be
attended with tluctuating prices.
A fluctuating demand for money, met by
a volume that 1uctuatos exactly TO CORE
spond with the fluctuations in demand, will
be attended with stability in prices. These
are offered as ultimate truths that can not
be ignored.
The desirability of the measures proposed
by this bill have now been shown from every
conceivable standpoint. There has not been
in any country an exact precedent Of this
bill in every particular, but there IL abund-
ant precedent in this country, in France, the
Argentine Republic, for the warehousing
OF products by the government, and also
there is precedent in this government and
in most OF the civilized governments of the
present day for the government TO take pos
session of value and issue circulating media
o,,osrgttt Wh;o v,lau hna unm hhau nuh