The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1891-01-06
No. A

1t would be expensive, and not all
farmers could get the benefit of it.
Besides these there are other obiec.
tions which will not attempt to men.
ton. But the objection that any pro,
posed law is class legislation, if estab.
lished, ought alone to defeat it. One
purpose of storing the grain, ETC., in
warehouses, l suppose, is to hold it for
an advance in price; at least, it Ger.
tainly would tend to have that effect.
Now, while this would doubtless af.
ford a needed advantage to many
farmers, it would also be hardship
to multitu les of working people who
earn their bread by their daily labor,
the price of which would thus be in.
creased. The Government cannot help
one class of citizens in the struggle of
life without hindering other classes.
The farmers have long suffered the
effects of discriminating class legisla
ton. The protective tariff and the
National banks have robbed them of
a large share of the profits of their
labor, but not them alone. There are
other classes who have felt the same
injustice and to the same extent. The
Sub Treasury plan is evidently not in
harmony with that sublime motto of
the Alliance, equal rights to all and
special privileges to none" Let US as
Allisncemen not demand for ourselves
what we would refuse to others.
Another plan proposed is to estab-
ish State banks with authority to
issue notes. There seems to be a fatal
objection to this found in the Consti
tuition of the United States. 1t Art.
l, Sec. 10, we read ono State shall
make anything but gold and silver
coin tender in payment of debts"
How could any conscientious legis-
lator vote to do that after taking an
oath to support that Constitution
which is the supreme law of the Iand2
Again, the bank notes would pass at a
discount in other States and would
cause inconvenience. The A Alliance has
demanded free coinage of silver as one
means to the desired end. But could
not an extension of this policy be made
to remedy the whole dihiculty2 Sup.
pose free coinage is adopted, and with
it provision to reduce the weight of
the present standard silver dollar, say
20 per cent, or to point at which it
would be reasonably certain that the
equilibrium between the value of the
gold and silver dollar would be re
stored by the increased demand for
silver in this country, at such time as
we should be supplied with the desired
amount of silver coin. In that event
silver would come here from every.
where to be coined and we should
soon have an abundance of money.
There might then be no necessity for
| National bank notes or any other
paper currency except gold and silver
certificates 1t may be objected that
this policy would cause all the gold to
leave the country. The same objec
ton was made when it was proposed
to re monetize silver some twenty two
years ago, but experience has proven
the contrary in that case. Again, the
trade dollar was worth but 80 cents
and contained more silver than the
standard dollar does. We greatly
need more money (coin), and there is
plenty of material of which to make
it (silver). Then why not have it
To supply this need would create great
demand for silver and the reduced
dollar would soon equal the standard
gold dollar in value. Money is moth
ing but measure of price and an in
strument of exchange. A quart pot
is also a measure and an instrument.
Is there a good reason why the people
should have supply of the one and
not of the other when there is plenty
of material tn uoaka both
Again, it may be objected that this
policy would give an undue advantage
to the holders and miners of silver
everywhere. But this could be easily
prevented by fixing the charge for
coinage at such q price that the Gov.
ernment would absorb most Of the ad-