The Magnolia gazette. [volume] (Magnolia, Miss.) 1872-current, 1891-07-11
THE SUBJ TREASURY PLAN.
NOT APARTisAN MeAsuRE--gUT THE
PLAN OF INTELLIGENT AND PATRl-
oTlc FARMERS.
viii Benent all Men engaged in Lesiti-
mate and Necessary Pursuits

The following letter flom Hon.
Polk Talbert, was published IN
the GIoster Record last week,
aud Is Reproduced here for the
benefit Of our renders:
Seeing that several copied arti-
cles have appeared IN your paper
unlrlendy to the sub-Treasury
plan. allow inc TO say a few words
in ils behalf:
There Is great depression IN
our industrial pursuits, especially
IN agriculture. While many prr
SUITS are yielding immense p-oiits
on the capital Invested. the farm
ers are scarcely making Il decent
living. TINS depression Is manly
caused by the currency of the
country being controlled by
national banks and money kings.
Itls contracted or expanded AZ
suits their purposes, aud is always
manipulated To build them up and
pull down productive labor. This
contiol of the currency enables
the formation of trusts, combines
and "corners, by which great
wrongs me heaped upon the peo-
pie. In speaking of these modern
institutions of depression and loS-
berry, senator George, the great
anti-sub I. apostle, sald IN a
speech in the Senate, in Febru-
ary, 1890: "'rhey regulate prices
at their will, depre,s the price of
what they buy, and increase
the price of what they sell
They aggregate to themselves
great enormous wealth by eXtor-
tion, which makes the people
poor" and .'the farmers have
been the victms of this and other
policies which have brought them
TO the verge Of run.
Senator stewart, who is regard
ed as good authority on financial
problems, saws: "By contract
ing the currency the value of
money has been increased to the
extent of reducing the price of
commodities 30 per cent within
the past sixteen years. Under
the present financial system a
colossal moaey power has been
created IN the country. But 4
few years ago the farmers owned
IS per cent OF the wealth of the
country. Now they own about
% per cent, but pay about - pei
cent OF the taxes. Not many
wears ago John Jacob .AStor wa.
noted because he was worth $5,-
OOO. 900. Now we have four OF
five men worth tiom 100 10 2OC
millions; 10 worth $50 900, ,00t
and upward; and those wortI
from one 10 twenty ml'llo1s are
TOO numerous 10 he counted
These facts show where the wealth
that the farmers have producee
has gone, and they show tha
labor is gradually enslaved. Speak
ing Of this feature OF our hnancIa
system, Senator VOORHEES, said j.
the Senate In July, 1890. tTh'
enslavemeut of labor lays Ihe cor
ner stone and completes the worl
If despo ism. Whe,e such
curse prevails fe loses ITS valu
aud huerty IT'S existence, whll
Tie pursuit of happiness become
a meaningless pshasc.
The farmers have neen plead
ING for protection and security
against these great wrongs. Th'
polltical bosses have been prom.
ising Il. but the money DeYil J.
still engaged IN his Internal work
Thefarmels, despairlhg Of getln:
relief lon the politiyai b"ss's
have determined to relieve Them
selves, and as the meaus Of break
ing Ire rvil pow er of th- mon,
Dsya propose the sub-Tressur.
plan. Ii i the plan of intrlligen
and pNriutic farmers, and not o
cvanks and fools, and was aduptc'
after maiure consideration, 9ud !
not partisan measure. The.
do no, enuteld for the bill wit
all its details which is before Con
gress, but ssasssss1r
hs.,:. ,a..siiais