Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-07-05

ginning, lldG lIttEC - IO JcIiIdIitLt JLOS-
perity to any people which is not founded
upon individual industry and manhood.
The Sub-Treasury.
But there are those among US, fellow
citizens. who are not satisfied with the APP
proved remedies for the political ills of the
country, but they insist that the people
shall now concentrate their energies upon
certain new remedies which are proposed.
The most widely known of these is the plan
called the 'sub-treasury." II is probably
called the ''sub-treasury'' in order to give it
a solid appearance There were several
bills introduced upon this subject during
the last congress, but / believe the one
known as the Picker bill is generally pre-
ferred by the advocates of the scheme.
However. they are all substantially the
same. The only difference of Importance to
be observed IS that one of the Vance bills
provides for the appointment of the man
ayers by the secretary of the treasury, and
the other Vance bill authorizes more than
one warehouse in county. 1t must not be
understood that because Senator Vance in
troduced these Two bills that he gave them
his indorsement-for in both the bills the
captions carefully state that they were pre-
seuted by request
Commenting upon the Picker bill, there
fore it will be well to describe it infinitely
In brief it is as follows:
Section l. Where two years product of
cotton, wheat, corn, oats and tobacco IN a
particular county exceeds $500. coo in value.
100 citizens can secure the establishment of
Il suh-treaSury by donating the land for its
location anu naming the managers and the
place chosen by popular election for that
purpose.
Sec . That the owner OF cotton, wheat,
corn, oats and tobacco may deposit same
ba In+1,
mines the market price under 4 regLla-
tons of the secretary of the treasury, based
upon the price current in the leading cot on,
tobacco and grain markets Of the United
States, and advances to the owner in treas
uIy notes 50 per cent Of the value of the
product.
Sec. ,. The secretary of The treasury
shall prepare the treasury notes necessary,
il denominations ranging from 81 to 5000
Sec. 4. Those treasury notes shall be re-
ceivab3e for customs, and for all debts, pub
lie or private, and national banks can use
them as reserve.
Sec. s. When the cotton, grain or to-
bacco is stored the manager shall give a
warehouse receipt negotiable by indor5e-
ment, showing the amount and grade or
quality of such cotton, tobacco or grain,
and its value, the amount of treasury notes
advanced, the amount of insurance, weigh
ing, chasing, warehouSmg and other
charges that will run against the cotton,
grain or tobacco, and that the money ad-
Vanced bears interest at l per cent per an
nun.
See. e. The cotton, grain or tobacco may
be redeemed by the holder of the ware
house receipts at any sub-treasury in the
Union by surrendering the receipt and pay
ing back the amount advanced, with inter-
est, insurance, warehouse and all other
charges incurred for warehousing and
handling. The money returned to cover
that advanced by the government shall be
destroyed, and where the produce is stored
IN one sub-treasury, and redeemed in an
other, the manager redeeming it shall give
an order for the cotton.
Sec. I. The secretary of sthe treasury
shall make the necessary regulations for
the management OF the sUb-treaSu ry fixing
the salary Of the managers, not to exceed
$500 per annum, and fixing their bond, and
holding them responsible on their bond for
weight and classification, providing for the
rejection of produce in bad condition, max
ing rules for sale on due notice at public
auction OF all cotton, corn, oatS, wheat or
tobacco, left on deposit for a longer period
than twelve months, and applying the pro-
ceeds to the reimbursement of the amount
advanced by the sub-treasury and all
charges; Any balance remaining to be kept
for the holder OF the warehouse rec eipt.
Sec. s Provides for the erection of
buildings with elevator facilities, aud all
modern conveniences for handling the pro-
duets.
Sec. Q. Provides that # the warehouse
charges at Z sub-treasury shall exceed the
expenses the balance shall be paid into the
United States treasury.
Sec. 10. Fixes two years term of Office
of the managers, to be chosen at a regular
election and in case of vacancy to be APP
pointed by the secretary OF the treasury.
Section II appropriates $50, 900, 600 to carry
out the act.
This is all OF the sub-treasury bill. The
men who call upon the tax-burdened farm
erS OF the country TO tax themselves still
hlgher-to give up still more of the meager
substance which the government at Wash
lngton has left with them after thirty years
OF eXacton-cannote expect the people to in
vest their money without Investigation.
There are some good persons who continually
burn with an Unsuitable passion for novelties,
and these may run after the glittering prom
ises OF profit offered by the patentees of the
sub-treasury, but d farmer of judgment will
want to be absolutely cer.ain that the
scheme can work out right before he con-
sents to see $50, COO, 600 expended upon it.
When new project is offered to care
full man, his first inquiry usually is, Has
it ever been tried heforeln If not, he is
strongly disposed to turn away. If, further
more, it is not only untried, but intrinsic
ally doubtful, he is certain to reject it.
The propagandists Of the sub-treasury
have been called upon to show some prece-
dent in history for their pet experiment,
and they have failed to respond Until they
do this it would be dangerous to accept
their unsupported theories in preference to
the Judgment OF long list of statesmen
who have never cast u vote IN antagonism
20 the interests of the people
Whenever this curious measure is put
under the knife OF examination its promot-
ers Immediately cry out that they do not
care for details.
This is only a convenient way they have