The Hazel Green herald. [volume] (Hazel Green, Wolfe County, Ky.) 1885-19??, 1891-09-18

starve for twelve months in order To
buy when they can buy chcapestP In
this mighty exhibition OF parsimonious
abstinence DR.. Tanners record would
be nowhere
The whole argument is n string OF |
flimsy fallacies Under the benign OPP |
Grafton of the sub-treasury plan, the |
farmers being in position to hold their
wheat can afford to play awaiting game |
and leave their wheat in the nations
care, subject to the memorable demand
| of legitimate resumption. With eighty
/ per cent. of the value Of their products
in their hands, costing them nominal
rate of interest they would themselves
receive the Legitimate price for products
based upon demand for consumption
and paid by consumers, instead OF, as
now, seeing the most of that price go to
enrich lot of specializing parasites
"Thc buyer (who) has been watching
his opportunity" will get ALFRED hum
CRY before he gets "a chance to embrace
an opportunity that is very attractive.
Mr.. Norton then says:
Another objection IL that II Involves the
| employment OF Il vast army of agents to at
tend to the details; the risk OF taking care
.
hazard of the fluctuations of the market;
the risk OF losses through dishonest ana IN
! competent otlicials-whoso name Is legion
the pcrshabc nature OF all farm products
/ In spite OF the contention of those advocates
/ who assert that IL IL only upon 'llhperlsh'
able products"
The question of the employment OF
"a vast army of agents" is frivolous.
Tho same "army of agents" is now en-
Al. r.. 80 th.ah
So far as taking care of property is con-
cerned, spectators now take care OF II,
and amass fortunes in spite OF the
risk" Then there are the same old
chestnuts of dishonest officials, etc,
etc, none of which are worth noticing.
Incidentally, however, Mr. Norton
springs an issue upon which may be
based the strongest argument that may
be made for the sub-treasury plan. lie
speaks of the "hazard of the tluctua-
tions of the narlletw Under the work
ings of the sub-treasury plan there
would be no fluctuations of the market.
With money to tide them over their
pressing needs and secure in the pos
session of the warehouse receipt for the
equity in their products, the farmers,
organized as they now are nationally,
and bv states and counties, could divide
the sum total quantity of their products
. into monthly or weekly quotas, and
afiixing uniform or equitable price for
the year sell direct TO actual consumers
at such price one-twelfth of their total
products each month. No, indeed!
There would be no fluctuations in the
= market" Fluctuations are made by
speculators and gamblers, and the sub
treasury plan would release the farmer
from the thralldom of their sway.
Mr.. Norton then says:
These are some of the obicctions-so far as
e the transactio ions arc concerned between the
/ government and the lender Another ana
. | still greater objection is the sudden ana I'm
, ! comfortable imitation OF the currency which
= would follow the harvesting OF crops An
: enormous amount of money would suddenly
= be put into circulattOn-only to be followed
: | nv inst IA sudden "A contraction when the
: ! government realizes on its temporary loan
= /. e. when the farmers pay their debts to the
y government
= At the lowest possible estimate one thou.
sand million dollars would have to be put
out by the government, say during the
! months OF August september and October
l. rbis could remain out say for six months
g mt the end OF which time IL must be returned
to the government II must be returned
- say, during the months OF February MafcU
;, and April An IL does not matter whether
- the government sells II or the people sell IT,
- the money which IL loaned must be paid
back. If there is not an expansion" and
conjunction" that VIII make the hair Of any
level. headed old greenbackcr stand on END
~ then we can't imagine what would IalS
IT about the evils caused by the power of the
3 banks to "inhate" and contract the cur
n rency-and then compare them with tha
r uCcd by the sub-treasury plan
Here Mr. Norton leaves the consid
a Grafton of the plan and proceeds to the
- discussion of a specific bill. ! am glaC
h that the people are called upon to dis
N cuss, not any specific bill, but the sub
!. treasury plan.
N | am free 10 confess that do not con
W slider that the Vance and Pickler bill
he are wise or practicable in some of thei
10 10 provisions and details, nor do ! believ'
that they are in accord with the Deals
ID demands or the Cincinnati platform
ID the financial plank of which read
" thus:
III A-The right to make and issue money IL
y, sovereign power to be maintained by the PEG
- nile for the common benefit hence we de
~ mand the abolition OF national banks, Il
~ banks of issue, and a. n substitute for ma
a, tiOnal bank notes demand thnt legal tendc
-, treasury notes De Issued In sufficient Voluni
~ To transact the business of the country on
y cash basis without damage or special adVaf
!, tage to any class or calling; such notes To
Ho legal tender In payment OF all debts, publ
'' and private and such notes, when demande
-, by the people, shall be loaned to them at nc
~, more than two per cent per annum upo
~ non perishable products, os indicated In th
49, sub. treasury plan, aud also upon real estat
" with proper limitation upon quantity ofla
-. and amount of money.
~ The above plank certainly contem
Mt plates the issuance of volume G
he money (notes) sufficiently large To