The midland journal. (Rising Sun, Md.) 1885-1947, 1891-06-05
Friday. June 5, 1891.
warehousing Farm Products.

Warehousing Farm Products.
The effort made by the privileged class
es" to poo-poo and ignore all suggestions
coming from the agricultural side of the
country, having failed, and a growing desire
on the part of the public to learn more Of
these 'simpracticable, wild schemes Of the
farmers has induced the privileged classes,
through their daily city press, to commence
a systematic campaign of Misrepresentation
of the farmers, and 1auoation of the ma
tional banking system, and the extra quality
of the money in circulation. This is fav-
orable sign. When this heretofore silent
class has been compelled to commence a
system of denial and Misrepresentation it
portends season Of sharp discussion that
will reveal the untenable position and false
statements Of the Monographs.
Inquiry is being made to know more
about this government warehousing system
of farm products and sub-treasury plan
which is advocated by the Alliance.
The bill was introduced by Hon. John a.
Picker of South Dakota, at the last session
and referred to the committee of ways and
means, which committee being composed Of
the money class representatives the bill was
pigeon-holed. A similar bill was intro
duced in the Senate by Senator Vance, of
N. G. These bills Of course were virtually
ignored by the class of men whom the
farmers have permitted TO fill the halls Of
congress, but which class they propose 10
supersede in future by another order ofmen.
We publish the text of the Bill on our
fourth page as presented in the House. If
there are any parts of the bill not under
stood or not approved we will endeayor to
explain or make clear the provisions if the
inquirer will state his trouble or doubts to
the MIDLAND JOURNAL.
Some suggest that the government would
be put 10 great expense in providing ware
houses, etc. One estimate places this ex-
pense at $15, 100000 for the whole country.
Whether great or small the farmers now
pay it to private Warehouse and elevator
firms and many times more. The govern
men. has been rendering similar service to
the whiskey interest for quarter of a century,
at cost Of 81 100000 for the three years
time that whiskey is stored, and no COM
plants are made. All the warehouse ex-
pense, it must be remembered is now paid
by the farmers, and 1t will be paid by them
and not by the government when taken out
of private hands where it now is. Others
say, who have not considered the situation
seriously, ''the farmers can borrow from the
banks" So they can at six to ten per cent,
owing to what part of the country they are
in. But this does not provide the relief
required. Banks can only furnish the
money which other people deposit with
them and for short periods. If the limited
amount of money in the country is used to
buy up the crops, it must be at the expense
of other business and this causes severe
stringency and lowers the price of produce,
and the farmer soon has 10 sell his crop 10
pay his short time mole. while if the govern
ment enabled him to store his grain for
several months and furnished HIM with
money--new greenbacks we will call this
money-the money which is invested in
other business would not be taken out Of it,
and this periodic stringency in the money
market-which is yearly growing worse
would not occur. The farmer in place of
paying six per cent or more for sixty days,
borrowers would be accommodated with a
one per cent loan for as long as whole
year, or until they chose to sell their grain
within that period The produce would be
kept out of the hands Of Spectators and we
would hear no more of corners in wheat,
and corners in cotton, and ''margins" and
..futures" on grain.
In order to have clear comprehension Of
the beneficial effects of the system proposed
by the Alliance, it must be kept in mind
that there Is not enough money in the coun-
try to transact the immense volume of bus
iness without cutting down the price Of
produce, and this cut always comes heaviest
on the farmer because he has no protection
as other lines of business have. More
money to transact the business Of the coun-
try is the great demand of the day, and the
plan proposed by the farmers through the
Alliance is the most safe. most direct and
speedy way TO effect this object of any plan
which has been suggested.
To suppose that all the wheat. corn, oats,
tobacco and cotton raised would be ware
housed is misconception. We question if
one-third of the product would be SO stored.
That amount would put Immediately sew
eral millions in circulation, prevent specu-
lation in crops, while the money volume
put into trade would revive industry in
every part of the country and strengthen
prices. No purchase of produce would be
made other than by users and shippers aud
a steady uniform demand and fair prices
would be the result.
Redeeming IN Gold.
The~a have hean fnnr hilIions two