Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-07-16

money as large as possible at the time he
sells. SO that what he sells will bring him
- many dollars as possible; and then when
he goes TO buy, il is his interest to have the
volume of money as small as possible, so
that his dollar will have the greater pur-
chasing power, or that he will get as much
as possible for his dollar.
But the interests of the entire people, the
farmers and all others, would be best sub
served by such volume as is SET forth in
demand No l of our St. Louis T. and L. Z.
platform which demands that the money Of
our country be ISSUED in sufficient volume
20 do the business of the country on cash
system: regulating the amount needed On
per capita. basis as the business interests of
the country expand"
What viii be the effect on Our financial
system if this warehouse scheme" should
become d law!
The farmer would come to the govern
ment warehouse in August with his 100
bushels Of wheat, worth, say 81 per bushel
anu as he is anxious to buy two-horse
wagon, worth in July So and a set of har-
ness worth So. he deposits his grain and the
government loans him $50 on il, and he
goes forth to purchase his wagon and har-
ness.
Now. the effec; OF all the farmers deposit
Ing heir grain about the same season each
year viii be 10 greatly increase the volume
of the currency in circulation, after they
rre.se the price Of everything they have to
buy after they have gotten the money to
buy with.
Ii is estimated that it viii double the vol
umt of money, but recollect this doubling
of tie amount OF the money is just after the
farmer has nothing to sell and just when he
wan 5 to buy.
If y does double the volume OF money,
then the farmer that wanted to buy the
wagon and harness goes to town to make
his purchase, he finds the wagon he IN
tended TO buy is priced at 500 and the har-
ness at $50, for 1.-The price OF the commodity
is fixed by the volume of money III exist
ence at the time Therefore what he
wants to buy is doubled in price.
Now before he can sell his wheat he must
return the money borrowed from the gov
eminent at per cent interest and charges:
after he does this, and his money is thus
withdrawn from circulation and Cancelled
and the volume Of money is greatly de-
crt ased he sells his wheat; in other
W, rds. he buys on market when the
pr ce of everything IS nigh, and sells on the
marKe, when everything is low. The effect
therefore If this scheme would be to in
crease the price of everything the farmer
has 10 buy and TO decrease the price of his
wheat, corn, oats, tobacco and cotton.
1t is hardly necessary for me to follow
out and show the effect upon all the other
classes of business of this doubling and
hal wing the volume of money each year.
Financial chaos, business panic and ma
tional runiu would but follow in rapid sue
cession; III ; we know to our sorrow that in
all such financial disturbances the farmer
comes out of the fight with the greatest
part of the load resting on his shoulders.
While the advocates of this scheme pro-
fes very strongly against us going into the
details of the bills, yet they have no right
to object, and we should make any man who
advocates Il national law make its minuteSt
details perfectly clear to us.
Under this scheme | maintain that old
II ltch of Chicago could and would corner
every bushel of wheat, and that the Inmans
of New York, Pat Calhoun with possibly
their friend and debtor NIacune, would
corner al the cotton in this country in Il
very short time, and we will ROW
Zee how the reason the men on
change do not buy up al the actual wheat
for sale il the United States at one time
and thereby corner it. is because they have
not enough money. It would take $500. O00.-
0 to corner the wheat alone so they spend
Iheir time and money cornering wind
and each other But suppose this
bil were in force with 800, 600
ihey could corner, buy up every bushel of
wheat for sale in this country The specu-
stor buys up 500, DOC, 900 of wheat, takes 1t
% the warehouse md deposits it, and the
fDvernment loans him SS0, 0O0 00o OF money
lad he takes this out and buys $50, OOO.O0o
worth of wheat and puts that
II the government warehouse and
tie & vernment loans him S64, 600
s0O ana with this he buys wheat and
warehouses it and the government again
Ioans him S5l, 200, 900 and with this he buys
wheat and so on, until with Sl00 900, 600 and
jhe government aud the Macune ware
house system TO help him he corners
$500, 900, 900 worth of wheat. Now when the
bread of the poor is once safely locked up
by the government, when will our wheat
speculator sell itl The cries for bread and
the walls of the starving millions of our
land would make the heart turn sick and
the lips of the poor would be closed cmsing
the author Of scheme by which
the national government would go into
partnership with the Spectator to starve
the poor. No, my friends, what we need is
q greater volume of honest money.