Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-06-18
Sub-Treasury.

! Among other schemes to secure an in
| creased circulation proposed by modern re-
formers is the sub-treasury plan. BY the
| sub-treasury plan, l understand the one
which is proposed in the Picker bill (No.
| 1859 and is the one that has met with gen.
| eral favor among our Alliance friends. This
| bill can never become law in its present
| shape, because it is in violation of section
., article of the constitution of the United
\ States, in this, the bill provides for the
| election by the people of the managers of
! the sub-treasuries and keepers of ware
| houses provided for in said bill. The con-
stitution expressly provides that all Off
! GERS OF the United States, who are not
| thereby made elective, shall be appointed
by the president, except minor officers,
who, by the direction of congress,
may be appointed by the presi-
dent, heads of the departments,
or the Federal courts. Managers of sub
treasures under said section and article of
| the constitution would of necessity have to
be appointed by the president, or some
head of department or some Federal court.
Grant, with this change in the provisions
of the bill, that it would otherwise be con-
Stitutlonal, would it not be dangerous, and
would not the people view with dread and
alarm any measure that places within the
discretion of Federal officials the power to
fix the value of the farm products of the
country as the Picker bill does9 But sup
pose that the bill should become law, how
would it increase the circulation2 Under
the provisions of the bill the managers of
sub = treasures are required to fix the
prices of farm products deposited therein,
according to the market prices. VIII so
per cent of their value place more money in
the hands of producers than 100 per cent?
The lowest estimate that has been made by
competent persons of the cost OF the ware
houses provided for by the bill is $500, OOO.-
oO0 Are the people willing to tax them
selves this sum, or any large sum, and take
the risk OF losing by waste and deteri-
Grafton of their products resulting from
Indictment weather, ravages of rats, mice,
weavils, etc. in the hope of making more
than the remaining 20 per cent due on
their deposited products2 l think not. Be-
sides, the whole plan is vicious in princi-
pie in this, that it tends TO destroy the con-
tidence of the people in their ability to
govern themselves and attend to their Or
binary business affairs. Such measure
savors too much of paternalism. tends to-
wards Capitalization and the destruction of
local self government in the states, and
finally to monarchy. Permit me to state
another fact that ought to be known to
everyone, that we, as people, can never
expect to keep money in circulation among
ourselves unless we alter our way of doing
business. As long as our boot and shoe
shops remain in Boston, our cotton and
WOODEN mills in New England, our wagon
anu DiOW laCtOf1cS III lnuidId anu OIQer
Northwestern states, our smoke houses
and Touring mills in Kansas City and our
fruit canneries in Baltimore, we cannot
expect to keep any money at home. Were
billion of dollars distributed to-day among
our people it would be but short time
until it would find its way to the money
centers of the North and East under our
present method of doing business, and our
only means Of securing its return would
be through our farm products. When we
build factories, shops, etc., and give them
our patronage, we will keep cur money in
circulation at home, besides creating mar
ket for
MUCH OF OUR UNNARKETABLg PRODUCTS.
Since the above was penned your reporter
called on me for an interview in reference
to the bill proposed by Governor Gibbs. /
have given it only casual reading and am
not prepared to discuss it fully. 1 have
never believed, nor do now. that congress
can without violating the constitution,
which each member is sworn to support,
loan money to individuals or to corporations,
though there may be reasons and perhaps