Indian chieftain. [volume] (Vinita, Indian Territory [Okla.]) 1882-1902, 1891-01-22
Aalanos backward.

miserable existence at wages that will
barely buy the coarsest food and raj
ment, or tramp; happy II they do not
become banditti, joining the crowds that
already infest the country. Women,
children, and the aged and iniirm crowd
our almshouses, while our jails and PEI
nal institutions are full to Overlooking.
One who had visited the country
many years ago and going back TO Eu-
rope had carried with him the highest
praises OF our country, its resources,
the wisdom OF Its government the
happiness OF its people, now returns.
He is amazed at the change, and In sor-
row seeks a solution Of what is TO him a
great mystery; for he still sees the peo-
pie and the fertile resources, And this
Is what he finds: Six years ago a sud
den upheavel occurred in economic pol
itics, and party composed Of men OF
brilliant imaginations and strong pre-
judices, but devoid OF economic know
ledge, became strong enough TO force
its Ignorance over the long stud
led wisdom of the statesmen,
aud economists OF the time. One OF the
measures 1t pressed upon the attention
os the nation was the government ware
house storage system, which was adopted
by the Fifty-second congress. The con-
gressmen. who passed the lawlauthorizing
the plan were applauded by the farmers
Of the south and west especially, and all
were assured that they would be kept at
Washington as long as they so faithfully
labored for the good Of the toiling
masses.
In the fall OF '93 the warehouses were
ready. So were the farmers and plant
ers OF the west and south, for they were
70 have money at two per cent and no
mortgage simply a certificate of de-
posit of the products OF their toll was all
the government required in security.
IL Is a great scheme. The farmers and
planters can get money without selling;
why sell? They will bull the market
Another nice scheme. see? Honest
enough, too, surely. Cotton goes up
100 per cent, corn and other grains 100
20 200 per cent. The government can
afford TO loan money on goods so much
in demand so it loans to the limit OF so
per cent OF the market values. The
cotton and grain all in the ware houses,
the farmers and government both rest
serenely, and everything seems to work
well. The long sought panacia hao
been found.
But in the meantime immense guam
titles OF grain and cotton and their
manufactures are imported, even under a
ruinous tariff, because the farmers and
planters have year in which TO re-
deem their products in the ware houses,
and are in no hurry 10 sell; for, having
plenty OF money already, they will let
the products rest until they can realize
still larger profits on them.
The new crop comes on. Bat as har-
vest approaches the government finds
II has no money 10 loan, all being out,
so the stock ON hand must be sold.
There are now two crops on hand, and
buyers, seeing the state OF affairs, hold
of. Other countries, having profted
by our extremity the year before. have
raised immense crops for our markets
again. The end Of the year approaches,
and the government notifies It's debtors
that IL cannot make new loans for lack
Of money nor can it carry the goods Of
two successive seasons at once. The
warehouses must be emptied. Prices
90 down to one-half the average prices
before the new plan was adopted. Corn
on which the government loaned 30
cents bushel sells in the markets for
10 TO Is cents, and other articles in pro-
portion. Besides, several warehouses
have been burned, or otherwise injured
or destroyed, involving losses aggre-
eating vast amounts, which, OF course,
cannot be made good by the producers,
as they are not responsible for the safe
~ Of their products, deposited
as they are, out OF their hands.
But the goods are sold, and the new
crop put in, the rate OF interest being
made higher for security against over
deposits, and because per cent will not
pay the government for its expense Of
Issuing the money, and building and
maintaining the system OF warehouses
The returns from the old loan having
come in a few hundred millions short,
the amount of the loan must be made 25
per cent instead OF 80 per cent. Farm
ers won't agree to this, so a flood OF pa
per money, based on the stored products
is issued. All are happy again. But
the trade in coal, salt, lumber
bricks. and dried Goldfish is dull. The
producers OF these demand storage and
loans. Government refuses. The law
was made for farmers only. The matter
is taken into court. The supreme court
finally hands down decision that con-
gress has not authority 70 discriminate
for or against any particular class OF cit
izens. so all these products are
stored and paper money issued based on
them. The country is showed under
with paper money. Silver and gold
emigrate TO countries which refuse our
scrip and the latter declines TO "a
cents on the dollar. The government
has on hand an immense amount OF un-
profitable real estate, which costs the
maintainance OF an army of employees TO
care for. The stored products fall dead
on the market. many producers cannot
or viii not pay the interest on their
loans and their products do not bring
the principal by as much as 30 TO so per
cent, because new products have con-
tinued to be raised or manufactured
with the expectation Of securing anoth-
er loan. Congress has now seen the
folly Of the move and repeals the law in
the fail Of '95 Reason resumes her sway
again, but the mischief has
been done. The wheels OF industry
stop. Values are down and, even
ssioh as they are, rest on deprecated
scrip-depreciated because depending
for It's worth upon the market value OF
its basis. which is constantly wasting
and deteriorating, especially the grain
and Goldfish. The boards Of trade fix
the value OF the government paper.
The farmer ultimately suffer most
from the rum Of markets resulting
from the disability OF idle men 10 buy
his products, aid the condition Of a
once prosperous country is now deplor-
able. A decade will hardly be suffiient
10 restore the integrity Of the currency
and bring even the dawn Of prosperity
again. General decentralization has
followed as a matter Of course in all
lines, and rascals have feasted on the
misfortunes Of the people, as they al
WAYS do in such seasons.
This is what our foreign friend learn
ed and saw. He went home; and in his
written history OF il all he remarks:
"When ! visited that country first I
said surely popular government Is best;
the wisdomo Of the many is greater than
Of the few I revise Il now and say the
wisdom Of the many is the climax q
follv.'
Onions IN Egypt.
Egypt Is again becoming land Of onion
culture Large quantities are yearly ship
ped % Europe from Alexandra and o her
nnrie few 1-o.ura af-, the tr.ao l.-4f..