The midland journal. (Rising Sun, Md.) 1885-1947, 1891-09-18
The Sub-Treasury and Wage
Workers.

lVIts W caJole the wage WORKERS anC
mechanics with the idea that all the
benefits Of the sub-treasury would &C
to the farmers. The monopoly press
everywhere is asking the question
chow are the wage workers to be ben
efited! These papers and party
orators, who would sink the people in
use for the sake of party victory and the
spoils Of place and power, ask this ques
ten for the purpose of deceiving the
working classes. The idea they seek
to convey that the farmers only would
be benefited, and the plan therefore
open to the objection of class legisla-
ton, they know to be false. IF farmers
had no use for money other than to hoard
it or loan it, there might be some sense
in these press criticisms. A simple
question discloses the whole truth OF
the situation. What would the farmer
do with the money received from the
government? Evidently pay his debts,
pay it out to merchants and mechanics
The money would be put into circula-
tion ; all classes would have the benefit.
The mechanic and laborer in the rise
in wages, the farmer and miner in the
rise in prices in commodities. The bur-
den Of debt would fall with the interest
rate. The cost of the proposed plan
would fail on the farmers who make
the deposits and pay the government 2
per cent interest. The present system
costs 8 per cent to maintain. The
burden falls ON all classes of wealth
producers. The benefits accrue to a
small class of dealers in money and
credits, who, as rule, are non.pro-
ducers. A much more forcihle criti-
cism Of the sub-treasury would be that
It does not include the products Of
miners and mechanics, not that these
classes would not receive the benefits,
but that they escape the burdens neces
sarily attending the system.
Indirectly all classes who use money
would have to contribute to the cost of
maintenance by the payment of interest,
but in our opiuion it would be better to
include all classes IN the beginning,
and directly in both the benefits and
the burdens. This would be just and
would place the industries in position
that each could provide its own medium
OF exchange independently of the other
and at such places as its needs would
require. Manufacturers and miners
could provide its own medium of ex-
change independently of the other and
at such places as its needs would re-
quire. Manufacturers and miners
could and would provide medium OIL
exchange BY putting up their products
at certain SEASONS of the year, farmers
at other seasons and places. 1t is suf-
hcient to say these classes have not as
yet asked to be included in the plan
If
but they will at no distant date if they
do not, the farmer will ask it for them
The idea that no man would be ben
Gifted unless he deposited something
10 the government warehouse is sheer
foolishness; not one farmer in ter
would make deposit that they did moi
need to. Those whose necessities were
GREATEST would make the deposits Jusl
as they now borrow from banks. The
object is to reduce the current rate Of
an interest to the level of the profits Of
industry. When the current rate fell
to that point no one would need to de.
post. Instead Of there being need
Tor sub-treasury in each county, there
would probably not need be one to a
congressional district; perhaps the full
benefits could be had by establishing o
warehouse in commercial centres having
l0,OOO population, which would only
require about 800 in the whole country,
The expense of testing the plan is
utterly Insignificant compared with
other national expenses. If the last
Congress had cut the appropriation only
2 per cent fund of 10000, 900. could
have been saved, which would have
been sufficient to establish the system
on the most generous scale the farmers
have asked, and would still have Q
balance of s5,OOO.OOO left.
Who are the people who do not pro-
test against spending S45, 100000 fol
the various Indian tribes, but oppose
with might and main every attempt Q,
the farmers to obtain relief from presen,
intOlerable burdens? They are the
classes who sell not money, but credit
at 8 per cent. aud who dominate and
rule court and Congress, while they
own body and soul the press Of the ereal