Nevada County picayune., 1891-08-13

tablished on petition of 100 or mor citizens to the secretary of the trsas- ury, citizens to donate the land for such warehouses.
 (D. An election IS then ordered, in which the qualified electors of the county elect a manager, whose sal ary shall not exceed $500 per an num- He is to give good and sui fcient bond.
 CD. Any owner of the products mentioned may deposit the same and receive treasury note. equal to SO per cent of the net value of such products the manager to determine the price. Managers of warehouses shall give warehouse receipt, show ing amount of crop deposited, value thereof and the amount of treasury notes advanced on it, the interest to be one per cent, the amount of char gc., such as insurance, weighing, classes. etc. These notes arc nego- tiable by indorsement.
 Section provides for redeeming the crop stored by the holder of ware house receipts by the payment of all l T ,l,a l,n tary of the treasury to cancel and de- strov all money SO received.
 The first thing that strikes me as an injustice in this measure, so far a. Arkansas Is concerned, is the dis crimination that would be made in favor of the rich counties of the State. Underslts provisions Pulas- Ri, Jefferson, and the other rich counties of the State would be enti- tied to sub-treasuries for the storing of cotton. It may be that one or two of the counties in the Northwest would be entitled to such establish ments for their grain, but this is doubtful. But without going into statistics of production, 1t is safe to say that not more than twelve to tif- teen warehouses would be built in the State, and these exclusively for the storing of cotton. Four-tifths perhays fve-sixths, of the seventy five counties, by reason of their small production of 'non-perishable' pro- ducts, would be denied the advanta- ses of these warehouses. On the very face of it, the advantage is giy- GU to those large and rich counties the annual values of whose crops cx- ceeds $500, ,00O. A lagre number of counties producing cotton of less than the required amount in value, and also large number of counties producing no cotton, would be de- prived of the advantages of the plan SO that the benefits, if any, will be confined to few favored localities But so far AS cotton is concerned, if government warehouse were estab- llshed in every county in the State, and in every county in the Southern States, with the present crop and prices it will not relieve the situa- ton.
 But let us suppose that the sub treasury with it's so per cent. ad- vance should temporarily prove a stimulant in advancing the price, The history of the period from 1864 to 1870 would be repeated, Fabu- lous prices caused by scarcity or temporary withdrawal fram the mar ket would be succeeded by large crops, then by an over,supply, and then again prices would decline. Our Alliance friends claim that the so per cent which will be advanced by the warehouse on cotton will be substantial addition to the currency, and will, to this extent, relieve the necessities of the people. But it ought to be clear to them that this 80 per cent advance, or the whole price for that matter, is only the same money that comes to them through the ordinary channels of trade under the present order. The only difference is that they are draw ing the money from the government. It might throw larger volume of currency in circulation at one time, should the farmers simultaneously draw the 80 per cent. value of their crop, but this would not add dollar to the average circu ation for the year. Nor would the policy of drawing threc-fourths of the price of the crop at once inure to the public good
 The trouble in all the cotton belt now is that we have msney but once