South Branch intelligencer. [volume] (Romney, Va. [W. Va.]) 1830-1896, 1891-10-23


TELIIeENcER, the subject ef the
Sub treasury hiss been presen,ed III
its two most important features,
Wig: The necessity for such . meas
ure and the principles upon which
the proposition 10 based In this
paper and the extract from the
Economist, something Of the details IL
set forib.
Il has been promised already. that
these details are not fully agreed on,
even by Alliance people, mnch les,
by ttess who do not hold with us.
II the neeeesity for such Legislation
- 10 propounded In the Sub-treasu: J
plan, be admitted it only remains e
apply 10 the proposed impe rishable
products Of the farm some of The
principles that are now Tecogn'ze
and acted on in relation to the
banks anil the great d;stille1ies. A
wise and prudent states. msnship on
The part of the national legislature
would not End it very difficult to ar.
range the details in . manner not
more to strain the Constitution than
IL IL now, and has o tea been strain
ed for other purposes.
There Is no tbought in the wrIer's
mini OF dispsraging he force or OBJ
legations Of tho Constitution but II
certainly comes with a bad e aca from
those who have seen the Constitu
ton warped from its original intent
for selfish ends, and have prof ed
by such loose construction, to; raise
the cry Of "Unconstitu,ional." when
the farmers demand for relief 10 ag.
it.'ed by so large q part OF the pop
ulatiou, ,and that part too which
makes, dollar by dollar, the wealth,
which, under these discriminating
laws that are 30 bitterly complained
OF. is so rapidly scooped into the
Golfers of.he rich. Let us be just,
that we may be wisely generous.
THE DETAIL OF THE SUB TREASURY :.
There 10 some essential details and
some non.essentiai details. 1t 10
useless TO discuss de- all until an
| sgreement is reached On the princi.
pie. To oil such, therefore. a. &C.
cept the foregoing demonstration Of
the necessity for ard statement OF
the principle of the sub-rsaeury
plan the following essential detail is
offered as suggestive only. The aux
Hilary volume necessary to be fur.
nished by the government to prevent
the regular annual contraction h .uld
be representative currency based
upon the most potential form CT
wealth and redeemnble on demand.
IL should be issued under such cafe
and conservative rules that il would
always pass on q parity with gold.
Wheat ard cotton are suggested as
tbs basis for this auxiliary volume of
money, not to give any special bene-
d! to the farmer or to discriminate in
favor OF agriculture, no. to give the
products any advantage over any
other commodity. but because they
are the disturbing influences that nov
produce contraction, End therefore
furnish the only true measure Of the
volume Of supplemental moaey noces.
cary TO prevent contraction without
producing imitation, and they also
possess the Inherent quality OF be-
ing able TO MAINTAIN o paper curreu-
cy on o parity with gold. because
heiog leading articles Of export their
price is fixed by the single COLL STAN
dard Of the countries exported t.,
and therefore certificates based on
these products on deposit really rep.
1esents foreign gold which is thereby
practically brought iDto circulation
here to maintain the prices which it
makes. The most claimed is that it
will enable the producer TO get the |
quotation price and relieve him from
local money scarcity in which the
purchasing power Of dollar is made
many times greater than that Of for.
eign gold. If, in order to mpke
This effective, it becomes necessary
TO warehouse these products and lend |
the auxiliary volume Of money, there |
Is no direct benefit 10 either parry |
from those purely incidental opera.
tions. There is no benefit 10 the
farmer from warehou.ing or borrow.
ing as long as lie pays what il costa
to do those things, i: is Sn even
exchange Of services between him and |
the government, pure corporation.
an eminently democratic function OF
the government. True he may be
Incl !cntally benefited because hi
had no war" house, but the pan is
not responsible for that. A man may
exchange horse for piece of land.
and tho exchange Of value may he
exectly EQUAL. and etill he may be
vastly benefited because he had
nothing TO feed the horse. Incidens
,al benefits will Aow to the merchant,
the professional MAJ and the artisan
from the vas' Increase of local busi-
Dess anil manufacturing and the To-
cal dit ibu'inn of money In tunes Of
scarcity tbaI will benefit all he G
equally wi h he farmer. 1t IL true
that The farmer will receive bene.
TT that no Others will, but IL IL no,
directly the result of This plan. IL is
incidental to IL and results solely
from The sbolisbmsnt OF the ~ per
cent discrimination against him.
With this just plan in operation, the
power OF money 10 be cornered would
be broken and the exploitor could
no longer use the government as an
sccompiice 10 help BIN rob agricul-
ture of neafly bnlf her DTolucts That