The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1891-07-15
THE ALLIANCE MEETING.
RANDOM SHOTS AND SCATTERING
THOUGHTS.
Some Comments OH the Alliance
Meeting at Greenwood Last Thurs
Iay. July q. 1891.

WOOD, last 1nurSuay are enInuslaslic III oe-
They are greatly impressed with the I'M
portance OF the measure. ana seem very
much in earnest about increasing the amonnt
OF money in the country.
! While we would draw different conclusions
! from many OF the facts and figures used by
Mr.. Stokes and Mr.. Willctts, yet when they
say that they want more money, and nre not
! welded TO ihe sub-trcasury plan, and are
ready to accept any better plan which may DC
offered, the Press and Banner and the dis
| tnguishcd speakers are not very lar apart.
We hardly know enough Of National fnnn.
ceS to realize that we know nothing about
the subject, but our prejudices are IN favor or
more money. We, therefore, agree to the
demand for mere money, while entering our
protest against the sub-treasury.
| We believe the National banking system is
the best in the world, and. until the Alliance
can show us a better system. we Will stand o'
the National banking system.
| We don't understand how the 1acts Oh INC
case can be squared with the statement that
the Government lends money to the banks al
one per cent.
The Government lends the banks no money
! at all at any price: ,
to issue their own bills; the &c Goyermennt r,rn
es the printed blanks, on condition that
United States bonds are deposited at the
Treasury as collateral security I1r d the pay pay
care anything Mt all about the soivency oi
| the bank. When u national bank breaks,
| the bills are as good rs the richest bank In
the country, and are In no WY Wy enes eiiected oy
| All banks must have capital on when 10
do business, and they must have a basis OIL
credit.
The United States bonds, which are depos.
tied at Washington are not for the benefit OF
the bank. but for the safety and oeneht OF
the bill holder.
and learned speakers on finances have failed
utterly and absolutely to comprehend the
national banking system,
Mr.. Stokes saw no reason why the miner ol
while-metal should have warehouse IN
which 10 deposit his veal tn, while me PRO-
duccr of the while staple was denied the
same privilege. The owner OF the whiie
metal, he said, received receipt Tor his white
metal, and the owner of the white staple
should be granted the same privilege. lie
said the principle was the same. Ihe Huc'
tuations I'm silver were likc the lnctuatlonS
in cotton, and for ih Is reason no more cnuld
NC lost on one product than on the oiher.
The fact Is, Mr.. Stokes said, If the Government
advanced 80 per cent of the value oi cotton
and the price went down to 10 per cent. the
Government would still loss nothing.
| All such beautiful reasoning aS ths was
swallowed down without single doubt rs to
It's verify.
ury plan contrmplatcs giving receipts for al
| cotton" "C5,rn,' "whcat.' etc, in sroii
shape as will enable the holders - put the
receipts in circulation rs t:;.,rey-not as a de
the silver certificate, which reads us lo'
lows:
| SILVER RrERTIrIcATE-"This certfies that
there have been deposited In the Treasury ol
the Cniicd States II vc dollars payable 10 the
bearer on demand"
AS we understand The object Of the law In
| giving the silver certificate. II Is purely ms Il
matter OF convenience to the people, paper
being more convenient 10 carry than large
amount Of silver. TO secure the payment o
the bill. the silver dollars are left III the
II makes therefore, no sort OF difference tc
the Government whether the price OF silver
goes up or down, the silver dollars are In the
vault, and will remain there until called Tor by
| the billholder.
But the farmers want money issued on cot.
ton, which is quite another thing from issu
| ing receipts for the delivery OF the cotton
The Government could lose nothing by giving
| a receipt for any amount OF cotton, II each
receipt simply called for the delivery OF SO
many pounds Of cotton, and, as In the case ol
the silver, could lose snothing If the price
| went down. w
But the most obJcctional part Of MIR. Will
let's speech was the effort 10 bring the gov
erment into disrepute. According to his
talk, there is nothing but corruption In the
Government We take no stock in any speech
which in general terms dcGmcS the whole
Government of the United States. We be-
| lieve this Is the best government In the world.
and the fact that IL Is the freest Is proven In
| the fact that u man may make all sorts OF
un founded assertions against 1t. or course
every one knows that In all countries there
are instances of exceptional corruption, but
as whole, this Government Is the best ana
cleanest In the world.
| Mr.. Wiletts made charge against the
| leading newspapers OF the country which he
cannot substantiate. Hesaid they were subsl'
died by the money power.
He slipped up in his argument about the
price Of our goods, and the need for more cir.
cula ting medium. He said the prices Of our our
Liverpool establishes the prices wherein does
it matter whether the per capita bo ten dol
lars or fifty dollars in this country.
| The way hc culOgizcd the money power,
should stimulate every farmer to get hold OF
as much rs possible We see q statement In
the papers that Jay Gould was born on the
farm and that he ran away 10 the city be-
cause he had to take Il turn at churuing
when the goat couldn't be caught.
Mr.. Willetts rldlculed the suggestion OF the
opponents OF the Alliance that more
work might bring tho needed relief This
created a laugh, and 1t seemed that work
was placed at discount The Press and
Banner has always had great faith In the
| remedial effects Of hard work IN bringing re
lief to those who are financially embarrassed.
and as a powerful agent in bringing case and
comfort to those who might wish to get ahead
| In the world.
He forgot in speakin of the bonded in.
dcbedness of the cou nty TO state the bonds
| OF the United States are made payable III
gold coin, and that no matter how much the
currency might be deprecated, there Is no
| law OIL 10 prevent LIlc uOluclS vi
from eXactlng payment in gold.
Mr.. Wiletts enlarged on the necessity OF
increasing the clrculation.in order to obtain
better prices for farm products. lie forgot 10
ey, and the demand for cotton was great be-
cause of the results of the war, that money
brought from twelve TO twenty-five per cent.
| and now when money is scarce that the rate
OF interest Is only eight per cent.
| The motto OF the Alliance IS all wrong as
long as mechanics, miners and manufactur-
ers are excluded from any OF the direct ben
efltS Of the subtreusury.
The distinguished speakers and learned
political educators, 1t seems to liz. slipped
up when they demanded the abolition OF the
National Banks. and in the same breath de-
manded an increased circulation. y very
large per cent. Of the money of this country
Is i'm National Banks notes. TO Withdraw
these notes would reduce the circulation to
perhaps one-half Of the present circulation
we do not know the exact figures.
/ Mr.. Willetcs remarks and his mixing up OF
facts in reference to the comparative amount
OF properly err ownSd by the farmers GS c,nG the
products may be said to have been artful,
and the result upon the crowd was apparent.
While the farmer was credited with some
thing like onethird Of tho wealth Of the
country, yet lie presented the debt Of the
country and the value of the farm products
In such Il way as to possibly leave the impress
sion that the farmer paid nearly all OF the
taxes.
The Ocala demands, as whole, nre OBJ
Iectionable, even though each and every IN
dividual demand might he well enough in IT,
self 1t is too radical, and too comprchen-
sivc IN that it proposes the overthrow OF the
organic law Government Of this country.
The platforms which are intended to
bring success to political parties, deal very
largely in glittering gcneralltles or In un-
dcilnabe particulars, but the Ocala platform
won i'd uproot existing laws and establish
new form of government. Believing that the
projectors Of the movement never expected
more success than comes from agtatinS the
country and elevatlng little politicians to