The weekly Union times. [volume] (Union C.H., South Carolina) 1871-1894, 1891-06-19

Moro osise 20 ls Sub Treasury,
.wc w;sh it be veil understood That .
r.ptv:nr a b. BITS we haze NO. ths fsint-
al hepo 6(3<snv|rtins him, however cogen;
and con ~ 1|ssx The arguments We addSce
,ray bo "a 8hcS The power 10 accomp,iea
hat ,ssa NeA inEto Natenal Esonomi1t and
those wi.o ipseSSs OYER It's cel1mus-,;. /
Au,bcrr snd p:S:u Saints CT the sub-lreas-
-ury schem@
oursdss or intelligence aud ranliness
| of damocrsiie. estsctsr is to t.iu and at
rch Tor ths g6sa q evil
liz ~a.i pd2fe measure snd advocate or ops
| pose Il a>cotdisg y our honest convictions.
We care M sAe,hsr 900 So per cent of
the party sr oder We belong tc favor q
measure udicr ldi,cussiou. tsfore becomes
a lav, if, after al honest, unbiased search, we
come to the combustion that lie measure is
wrong in princiRe ard calculalcd to work
injury to any impSrtaut class or material in
forests of the people,. we would consider it
uudemocratic sndiunmanly to de- . lie by
blindly and silently following the crowd that
is arbitrarily led by few prominent indi-
yiduals favorirg t. It is democratic to
aeqaie,ee in the u.ll CT IN honestly secured
majority Of the party, when finally expressed
upon any messure. But majoIitics are not
always honestly detained. They ore, unfor-
tpnately, too frequently secured By bribery
Undue excitement, cajolery, captivating but
jnscund arguments, impositions upon tho
Fredplity of 3he people and downright fraud |;
and wAs9 fskSeseuted byorganiIations, and
bot by y of ths iadiyidaal yQl6n1.
.s.sss. sSs sia.ns g.
He was elecle0 BY The organized states,
whils Cleveland received a large majority Of
the votes Of the people So it may be with
the sub-treasury plan, now before the Ali.
ance and the people at large for discussion
No doubt q majority of the Alliances have
pronounced in favor Of the sub-treasury
but that may not represent q majority Of th'
individual members,-although perhaps i
does at this time, as the question has no
got beyond what may be called an er part.
representation.
We make these predatory remarks TO tax,
short cut. over somewhat irrelevant ground
to the sub-treasury scheme:
In noticing Mr.. OTIS last, our readers
must remember that he has not anSwere,
either of our 1.-TWO points Of Tie week be
fore, and only incidentally refers to them
E,,t 1, -, aS
A'onfoftunats1y for your argument, 20
ignore an axiom Of politial economy: "Iha
price is fixed by the amount Of products o.
the market, and the volume of money in Gil
culation." Tho idea that the price Of cotto
is fixed by the size Of the crop alone is errc
! neous."
/ No, friend OTIS, we neither ignored Q
, forgot that great axiom, with the tail to
to suit the originators Of the sub-treasur
scheme nor did we forget that other equal
sound and we'll established axiom,-"an il
flated (you may call it by the moro moder
, name, "aexible' } currency is the mother
inflated prices" particularly for the nece.
? sary commodities Of everyday life aud Ii
notorious faot stared us in the face, that th
| Southern Farmer buys all those pecesaari,
whilc the Northern and wsstsrS Farme
. lssll t4srp. % tha. pat only our farmers. b
a'ed prices stimulated by Il
. inn yub-treasury currency.
muss NO. oe iorg0uen mat Snly abo
8 oue-tbird OF the cotton raised in tic South
!. consumed in this country, while the 9TH
!, two thirds Is bought and consumer nv Eur
o pean Manufacturers, who conduct nil the
o business transactions strictly unon 4,
r universal metallic or gold cySssncv has;
y and it is not likely that they will be nov.
y from that base by on inAa tion in this coun,,
that may collapse in few m,ntbs wbe
the Southern Farmer stores bs Cato
for higher Aprices, aud receives 20 n,
cent Of its value in sub-tre&urv mona,
s the Northern aud Western Formors vi
:. be storing their food Supplies upon q
same terms, for the SANE purpose. wbi
1 tbs Europsan spinnsp even if our ow
Mills should se Supplied, will -h.-:r.-.-
es sscnss hsis Aur quarter time. wit
al Egyptian Clifton, Ani occasionally THROWN
II out a bait Of higher prices for our cotto
8 with their orders already placed with agen
in New Orleans, Mobile, Charleston an
other important points, to buy a certain nu,
G Der of bales, and then close the doors.
= They will dictate the price, sure, and ,
legiAlation or imitation Of currency in th
r country can prevent it.
e The practical result. o. the sub-Tressul
scheme, in The South, in our opinion, will b,
: the Farmers storing their cotton and recei
d ing 80 per cent of its value in inflated Gu
rency will find, when they come 10 buy gu
plies with it, that the purchasing value
that currency is reduced considerably |
corresponding inflated prices for eve,
article they buy, from mule shoe to mul
plow, or apound Of coffee. And We wou
o not be surprised II, after counting up all u
a costs and lesss passing i through u