Daily tobacco leaf-chronicle. (Clarksville, Tenn.) 1890-1895, 1891-09-29

loan scheme which had brought on
the money stringency and came
near bankrupling the world. This
was followed by enthusiastic cheer
ing.
Mr.. Mcdowell took up the sub
Treasury. He was now in favor of a
warehouse in every county and said
the Government should build them.
The cost would not exceed $4,000,
600. The Government should adj
vance 80 per cent. on the produce in
store and issue nOn-transferable GER
tiflcates for the balance and hold the
produce until ordered sold. This
would prevent corners in grain and
other produce and distribute money
to the farmers when it was most
needed. The Government would fix
the value on the produce according
to the market quotations. This
plan, he said, was the result OF the
combined wisdom of the State and
National Alliance.
Seventy-five voted for it in the
Ocala convention and only about ten
against.
Three of the opposing votes were
from Tennessee, and now Gov.
Buchanan was as strong for the
measure as he was. He arraigned
Mr.. Washington for not assisting
Rice Pierce In calling up the Picker
bill in Congress, and amending it to
suit himself and benefit the farmers.
He did not approve the Picker bill
himself, but thought it could have
been amended but Democratic Con-
gressmen had treated the farmers
with shameful indifference in not
taking 1t up and perfecting it. He
said but little for free coinage and
thought there was nothing in tariff
reform; he was tired of tariff dis
cussion, though he favored tariff re
form. 1t was more money the PEG
pie wanted, and tariff reform would
not increase the price of produce.
Mr.. Washington ripped up the
whole of this argument numerically,
leaving no foundation for Mcdowell
to stand upon. He discussed the sill
yer question at length, showing how
free coinage would increase the cir
culation 1920, 600, 900 a year, and give
the people plenty of money, and that
measure they could get by uniting
on it. He utterly annihilated his OPP
ponent on the tariff question, show
ing that the so per cent. of taxes
which Mr.. Mcdowell said the far.
mers paid, was through tariff duties.
60 per cent. on all necessities. II
this 60 per cent. could be left in the
farmers pockets, and the markets OF
the world opened to their produce BY
tearing down the tariff wall, il
would certainly advance the price OF
produce, and give them also cheaper
markets to buy their goods. This
was followed by wild cheering.
Mr.. Washington discussed money
in all of its details.
The speaker was here at his bes
and rose to flight of eloquence that
carried the whole audience by
storm. He refuted the argument
that Jefferson favored scheme like
the sub-Treasury by quoting just
what Jefferson said In regard to Vir-
ginia, in 1918, raising money to
carry on the war; the issue should bt
bottomed on specific tax bearing
five per cent. interest. He showed
how the sub-Treasury was bottomed
on perishable products liable to de-
cay, and fuctuation in prices that il
proposed initiation one half OF the
year and contraction the other half,
and would serve only the specula-
tors, and would be ruinous to the
people. He did not call up the Picker
bill because he could not endorse the
principle and could not amend so as
to make it better. The combined
intelligence of its authors, who are
ashamed Of it, could not improve it,
and how could such thing be ex-
pected of him.
OF course we cannot give half the
points discussed, and only attempt to
show the tenor of the debate. Mr..
McDowell's friends tried hard to
cheer him through his rejoinder, but
it was spiritless. He labored to
break the force of Washington's ar
gumt mt by ridicuIe, which was ex.
ceedingly weak. Washington,
failed, for want of time, to answer
his question regarding the basis of
United States bonds, which of course
are based on gold and the taxation of
the people, and this was all Mellow
ell had to base his rejOinder on. Me.
Dowell closed by saying that he in
tended to come back and discuss the
question when he could have all the
time he wanted by himself.