The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1891-08-11

pleasure, and the circulation is only
81, 500, 600, 0OO,. That condition IS u
to the infexibility Of the currency.
While all are injured, the burden tails
heavier on the farmer because he sells
to a falling market.
Three classes indulge in industrial
purSuitS-MInGrS, manufacturers ana
agriculturalists. The latter are only
real producers. BOndhOlderS have the
special privilege of depOsitIng with the
government, and the only way to even
up the difference is to put farmers on
the same footing.
The Alliance does not say we must
have warehouses, but IS willing TO
accept any other proposition to meet
the ~exigencieS of the occasion that
may be suggested.
The two financial needs, increased
circulation and flexible currency, can
only be secured by issue of fiat money
or paper money, issued upOna valuable
basis. Fiat money won't do. Money
based on precious metals wont do, be-
cause the annual output for 45 years,
even if all was used for money, would
not increase the per capita 81. The
national banks can't afford relief. be-
cause their circulation is constantly
being contracted. The only basis to
fall back upon then is land products.
Why hOuldfarmerS be Disseminated
against? If silver men Can deposit their
white metal, and get certificates, why
can't farmes deposit white staple and
do the same?
DR.. Stokes spoke one hour and
twenty minutes. He spoke in an
ordinary tone, and made no effort at
OratOry. His speech was listened to
with the closest attention, but there
was no applause,
SENATOR BUFFERS REPLY.
Senator Butler was introduced next,
and was received with cheers. The
Senator's speech was a good one, but
50 many questions was fired at him,
on so many different subjects. that his
speech became a kind of general finan-
Cial encyclopedia, which the limits of
a newspaper article would prevent
being reported in full.
He is expected to discuss the bill. as
introduced in congress, and he did 50.
He said the principle of home rule and
nOn-intPrferenCG from outside was so
firmly implanted in the breasts of the
people OF this country as to become an
instinct He believed this flew into
the very teeth Of this doctrine.
He took up provisions of the bill,
and by argument and SCathing ridicule,
soon had the audience with him. to all
appearances. The warehouse scheme
was unjust, in that some counties could
have them and others could not. The
Secretary Of the Treasury appointed
managers, and he regulated prices.
What would keep him from running
down prices when he had luminosity
against a member, be he rich or
poor!
He next tackled the constitutiOnality
of the bill, saying that it violated :, cond
part 9, paragraph ! of the constitution.
He Venturcd the assertion that the bill
would not stand before the Supreme
Court ten minutes. He opposed ua
tIonal banks because it put the purse
and the sword III The same hands. and
gave the executive too much power.
Speaking directly on the Sub-Trtas
Ury. he asked what was to become of
the man who raised cattle and hogs
and not cotton and corn?
AS TO REMEDIES
for the present d~eplOrable financial
condition, he would suggest the fol
lowing: a. Substitute the Mills bill
after the enaCting words Of the Sub
Treasury bill. o. Reduction of cX-
pGnseS of the government Ono-haIf of
what the late Billion Dollar Congress
appropriated. 3 Abolish the tax of
10 per cent on State bank currency.
a. Another step. which can't be done
by law, put ten acres Of cotton to the
mule instead of thirty. and devote the
remainder to raising provisions. and