The advocate., 1890-04-16


Pickler, of South Dakota, ombodies the de-
mand of the Farmers Alliance and Indus
trial Union. u was referred to the commit
too on ways and means, and is as follows;
SECTION /. DO ID enacted by the Senate
and House OF Representatives Of the United
States in Congress assembled, that there
may be established in each Of the counties of
each Of the states of this United States a
branch of the Treasury Department OF tho
United States, 10 be known and designated
as a sub-treasury, as hereinafter provided,
when one hundred or moro citizens OF any
county in any State shall petition the Secre-
tary Of the Treasury requesting the location
Of sub-treasury in such county, and shall,
/. Present written evidence duly authen-
ticated by oath or affirmation Of county
clerk and sheriff, showing that the average
gross amount per annum of cotton, wheat,
oats, corn and tobacco produced and sold In
that county for tho last proceeding two
years, exceeds the sum Of S5O0,0O0 at current
prices in said county at that time, and,
2. Present good and sufficient bond for
title 10 O suitable and adequate amount Of
land TO be donated TO tho Government Of
tho United States for the location Of the
sub-treasury buildings, and,
3. A certificate Of election showing that
tho site for tho location of such sub-treasury
has been chosen by popular vote Of the
citizens Of that county, and also naming the
manager of tho sub-treasury elected at said
election for the purpose Of taking charge Of
said sub-treasury under such regulations as
may be prescribed. II shall in that case be
tho duty Of the Secretary Of tho Treasury to
proceed without delay TO establish sub
treasury department in such county as here
inNfter provided.
Sec. 2. That any owner Of cotton, wheat,
corn, oats, or tobacco, may deposit the
same in the sub-treasury nearest the point
Of It's production, and receive therefor
treasury notes hereinafter provided for,
equal ut the date Of deposi TO eighty per
centum Of the net value Of ch products at
thomOrket price, said price 90 determined
by the Secretary of the Treasury, under
rules and regulations prescribed, based upon
the price current In the leading cotton,
tobacco, or grain markets of the United
Suites; but no deposit consisting in whole or
in part Of cotton, tobacco, or grainimported
into this country shall bo received under the
provisions of this act.
SEo 3. That tho Secretary Of the Treasury
shall cause TO be prepared treasury notes in
such amounts as may be required for the
purpose Of the above section, and in such
form and denominations as he may pre-
scribe, provided that no note shall be of a
denomination less than 81, or moro than
$1,000.
SEC. A. That the treasury notes issued un-
der this act shall be receivable for customs,
and shall bo n full legal-tender for all debts,
both public and private, and such notes
when held by any national banking associa-
tioD shall be counted as part Of its lawful
reserve.
SEc. B. II shall be the duty Of the manager
of a sub-treasury when cotton, grain, or TO
baCco is received by him on deposit as above
provided, to give a warehouse receipt show
ing the amount and grade or quality Of such
cotton, tobacco, or grain, and It's value al
date ofdeposit; the amount Of treasury notes
the sub-treasury has advanced on the pro-
duct; that the interest on the money 80 adj
vanced is at the rate of per centum per an.
mum; expressly stating the amount Of insur.
anoe, weighing, chasing, warehousipg, aDt
other charges that will run against such de,
posit Of cotton, grain, or tobacco. All sucf
warehouse receipts shall be negotiable by
endorsement.