The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1891-07-04
THE suB-TREAsuRY SCHEME.

measure Of the farmers alliance,
these days, but few people under
stand just what this measure is
Below THE TRIBUNE publishes the
FULL text of the bill us introduced
in the last Congress. 1t is
worthy your careful study:
Section /. &c it enacted by the
senate and house Of representa-
aves Of the United States of
America il congress assembled,
shat there may he established in
each of the counties of each of the
states Of this United States a
branch of the treasury to be known
and designated as Il sub-trcasury,
as hereinafter provided, when 100
~ more citizens of any county in
any estate shall petition the secre-
tary of the treasury requesting the
location of a sub-treasury in such
county, and shall,
!. Present written evidence, duly
authenticated by oath or afiirma.
ton Of county clerk and sheriff,
showing that the average gross
amount per annum Of cotton,
wheat, oats, corn and tobacco pro.
Auced and cold in that county for
she last preceding two years exceeds
abe sum of $500 900, at current
prices ia said county at that time,
and.
2. Present Il good a sufficient
bond for title to a suitable and ad-
equate amount of land to be dona-
ted to the government of the
United States for the location of
the eub-treasnry buildings, and,
3. A certificate of election show.
ing that the site for the location of
ouch sub-treasury has been chosen
BY a popular vote of the citizens of
that county, and also naming the
manager of the sub-treasury elected
ut said election for the purpose Of
taking charge of said sub-treasury
nnder such regulations as may be
prescribed. 1t shall in that case
NC the duty of the secretary of the
treasury to proceed without delay
10 establish a sub.treasury depart
a,ent in such county as hereinafter
provided.
Sec. 2. That any owner of COT
Son, wheat, corn, oats or tobacco
may deposit the same in the sub
sreasury nearest the point of its
production, and receive therefor
sreasury notes, hereinafter provided
Tor, equal at the date of deposit to
10 per cent. If the net value of such
products at the market price, said
price to be determined by the Sec
setary fthe treasury under rules
REGULATE n; rescritel, based upon
Ale price current in the leading
cotton, tobacco or grain markets of
She United States; but no deposit
consisting in whole or in of cotton,
tobacco or grain imported into this
country shall be received under the
provisions Of this act.
Sec. 3. That the secretary of
She treasury shall cause to be pre-
pared treasury notes in such
amounts as may be required for
she purpose of the above section,
and in such form and denomina.
sIons as he may prescribe. provided
shat no note shall he of dcnomina-
sion Of less than one dollar or more
than one thousand dollars.
Sec. 4. That the treasury notes
issued under this act shall he re-
seivable for customs, and shall be
tull legal tender for all debts, both
public and private, and such notes
when held by any railroad or ma.
tional banking association shall
BE counted as part Of its lawful re-.
serve.
Sec. 5. 1t shall be the duty of
The manager Of a sub-treasury when
cotton, grain or tobacco is received
by him on deposit, as above pro.
vided, to give Il warehouse receipt
showing tho amount and grade ar
quality Of such cotton, tobacco or
grain, and the value at date of de-
oosit; the amount Of treasury notes
the sub.treasury has advanced on
the product; that the interest on
she money so advanced is at the
nate of one per cent. per annum,
expressly stating the amount of