The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1891-12-22
LEGISLATIVE ~FAVORITISM.

A favorite argument with the oppO
uents cf Alliance principles is that we
| seek class favoritiSm through partisan
II class legislation. In denouncing
what they claim as class legislation
With the Alliance, it has been noted
that they carefully abstain from any
condemnation of favOritism towards
other interests, which has been secured
through the most glaring class legisla
ton. For two years the partisan press
and political howlers have held up the
Sub Treasury plan as the worst kind Of
class legislation and yet not n word
has been said against u unjust and
iniquit0us national banking system,
a system which all intelligent men
know is a cast iron, dyed-in the-woOl
Sub-Treasury plan.
\ few men buy 800, 600 in y. s..
bonds and deposit them III the Z. S.
Treasury tho government warehOuSe.)
These bonds are drawing interest for
these few men all the while. The gov
ernment authorizes these men to issue
800, 900 in currency-ninety per cent.
of the value Of their own interest bear
ing bonds. Just here we remark that
the government thereby transfers to
these men one of its most important
and sacred functions that Of supply
ing money and which it Cann~t legally
transfer to any one, and a money, too,
which is not a legal tender. These men
have invested their capital and get in
terest from the government on it and
vet are allowed to use nine-tenths Of it
for purposes Of speculation on the PEG
pie. These men are thus permitted to
put upon the country their issue, which
is counted as currency, and upon any
terms which they see proper to make.
They get interest on their deposited
bonds; they pay a tax Of only one per
cent. on their issue and charge the peo-
pie whatever they choose. Could there
be a more unjust legislative favoritisml
Could there be more glaring class leg
islation?
And why co not the politicians direct
some of their pyrotechnic oratory
against this huge robbery? In 1856 the
Democratic party denounced, in its
platform, the whole national bank eys-
tenn idea as unconstitutional, wicked
and wrong. Why does not that party
stand by its record on this matter? If
wrong in 1856 is it not wrong in 1891?
The people think 50. They know that
our national banks were established in
time Of war as a war expedient or
necessity. But they know equally well
that the war ended a quarter of a
century ago and thai there is no argu
ment or reason upon which its $onger
continuance a be justified.
The country has suffered from this
iniquity for a quarter Of a century.
Longer fOrbearance has ceased to be a
virtue. Both the political parties have
fondied and fostered this great wrong
and have made no effort to correct it.
They talk of free silver and are both
divided on it-they talk tariff, reel
procity and force bills, etc, but nothing
is said or done to relieve the people by
wiping out this evil and giving the
country plenty of legal tender money
to meet the demands of our growing
population and trade. The Alliance
has struck the HARD. pan question an
demanding reform in our financial sys-
tenn, AMI they are going to 8tand by it.
Politicians and political parties had
better heed this righteous demand of
the people, or there will be lively times
in political circles. Legislative favor
ltnsm, manipulated by the money
power for the robbery of the people,
must and will be stopped.