The Caucasian. (Clinton, N.C.) 188?-1913, 1891-04-09
Farmer FllalClGPS
and Their RGTlefy.
WHY THEY WANT THE s. Il
TREASURY SYSTEM, WHAT
THEY ENPECr IT Will.
DO AND HOW II
WILL BE DONE.
DETERMINATIONS AGAINST kGRl-
CULTURE
DIR Macune Claims that thc Cu~-
rency Question IL at the lsaot
of the Depression Among
th,, Farmers.


From The New lorA HceAldl
WASHINGTON, ID. e. March S;h,
1891 Leaders OF the National Far
mers' Alliance complain that much
of the adverse criticism on their Sub
Treasury scheme is duo Ia the fac;
the principles underlying AMI the
necessity t'oy 1t are not properly un.
ders.ood.
DIR. {. w. Macunc, chairman al
the Executive Committee of tn
Alliance, in speaking of the scheme.
said
"The necessity Tor something oi
of this kind has been developed ~
the onward march Of material pro.
greSs. For the last twenty-five year
agriculture has, as compared with
the other two great branches oc pro
Guction n--manuiacture and commerce
been rapidly becoming depres II
and unprofitabic. This depre~ ioa
during perio1 without parallel a.
material progress in Ghe world'shi.-
tory Is Indicative of a potent Cius'
and is worthy the most careful anal
ysis. For this purpose take tive ~
the leading products Of agricultrlc
wheat and cotton-ant trac. ihs
changes made in regPrd 10 them dur-
ing that period.
TIID SEASONS SHORTENED.
Twenty-Five years ago wheat was
raised by farmers throughout q .
North generally rs one Of the lead
money crops. Nearly all the work
gathering and marketing it wasdunc
by hand; local mills, thickly sc.t-
tered over the country, ground lhe
flour for local consumption, ana tie
balance was sold when the pg,t~'
suited the farmer. All Of this guar
anteed moderately even safe 81
wheat by the farmer from AuSuss
until the next June or July, amt 6
was, in fact, very common for far
mer 10 have his wheat on hand over
year. Now the development, 1f
railway systems has brough. the
: great West SO close to market that
wheat can no longer be pToii'Guiy
, grown in the East, while in The W e>t,
the great wheat growing district, tao
wheat is cut and bound by machine
| ry, taken TO immense steam tkr eiI.
5 ers and from the thresher goes "a
) hot haste into the elevator ap0' 90
railway, always close ut hand, I'D
the moment it strikes the clcN or
D, it is on the market of thc wor!d.
The season, therefore, In which hc
farmer realizes from his produ tye
effort is reduced from ten 10 IT, Hu.yc
: months to a period that does nos, ia
Y lis utmost limit, exceed ihlco
e months.
z "for tle same reasons the season
: fer u arketing the cotton by the far
+. mer has shortened as much or more
than that Of marketing the wheat.
EFFECT OF MODERN IMPROVEMENT.
"Thesc changes, brought about by
| the modern improvements that have
n substituted the railway train for the
4 OK cart and tn" telegraph for The
~ courier, make some other changes
. ,.ecessary, one OF which, the one ot'
q all others the most impoI tant, is a
: modern instead OF an oXcart system
r Of finance.
"Under the old system the de-
;. mand for money 10 handle the pro-
4 ducts Of the country being nearly
d the same throughout the-year, tho
Il marketing Of products of agriculture
l. produced no great effect upon the
= money market. But under modern
n conditions il produces a most pow
/. erful effect.
a "The volumn Of money in circu.
, lation iii the United State at this
?. time is variousIy estimated AT from
5000, 100000 10 81, 400, ,W0, ,000-aay
81 ,000, ,000, 600. Represent hat sum
by the figure =. The gross output OF
- manufacturing Of all kinds Is about
d" $500, 900, 900. Suppose all the nsIt-
$ ufactured commodities change oWu-
eiship between the manufacturer
and the consumer three times. The
demand then Throughout the ycaT,
nr fer the use Of money ou account Oi
N manufactured commodities, woaId
j. equal $4,000, ,G00,000. Represent that
lie sum ny the figure 4, and the relation
n- Of The volume Of money 10 the de
ID mand for lis use would be- az il tD
=. 1, aud would only reqaIre that eyeFS
u. dollar me circulation be used two
ie times In each ear 10 satisfy ;hi5 dc
ct :nand. This relation is practically
le uniform throughout the year.
ae "The gross value OF agriculture
IL products is about $500, ,00O, 900
II Sup. pose two-thirds Of this Prodaet
% is used for home consumption anl
!; seed and one third Is marketed dur
!, ing the last three months OF h,
Year, and that this only change
ownership twice; the demand tl'u
created would lie for the Use &C -,
is 600, ,000, 900, which, upon the abovt
basis, sii3u.d be representc, by th'
ut figure 10. and which aided tp tli
d. regular .scmand, 4. makes Tie cie
inand during that time II.
A GREAT TCoNTRACTIoS.
III .'If the volume remains the sam
x: throughout the year, for 8 month
Dy i'm the year, the relation OF volam
f"- to demand is as 2 to 4, and durin
OF the other months IT is as 2 to Il.
nj "Of course this is the widest rang
10 in the relation of the volume. and
M could not III practice be confined Il
or any such lines. 1t must come an'
II GO gradually, but the actual relativ
ne volume must be aud il reduced dul
IN ing the short term for handling tn
'a- crops to two-sevents OF its ayerag
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