The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1891-09-08
THE sUB-TREASURY PLAN.
In the State of Missouri all its Essential
Features are in Operation Except
the Principal Demand
Cheap Money.


the Principal Demand
Cheap Money.
It would appear from the following
| advertisement of one of the leading
elevator companies in the State Of Mis-
souri, that most of the features OF the
Sub Treasury plan are already in vogue
in that State.
| To the Raisers and Handlers of Grain :
In order that our customers may
either store or handle grain as they may
wish. we have provided ourselves with
abundant facilities for storage, trans
ferring and buying.
At our country houses we will be pre-
pared at all times to buy cash grain by
the wag0nlOad. At our elevators we
will receive grain for storage, either
by the wagon or car load, issuing re-
ceipts for each lot at a reasonable rate,
which makes the holding of grain pos
sible to the farmer at a much less eX
pense than he can store it on the farm,
and inSureS to him the lGeight and
grade.
Our principal elevators are under
State Suppression and the State officials
have full charge Of the weighing and
inspection.
By placing grain in store and obtain
ing a receipt. it enables the owner to
dispose of it at any time by simply de-
livering the receipt to the party to
whom he makes the sale, and thereby
enables him to take advantage OF 0ny
sudden change IN the markets at any
time he may choose.
We guarantee to the holder of a re-
ceipt that he shall be delivered the
quantity and quality called for, which
relieves him of all risk Of loss on
weights OF grades while III store.
We will attend to fire insurance if
desired, and can always obtain for our
customers the lowest rates.
We are also prepared at all times to
buy storage grain; and in case holders
should wish cash advanced on their
receipts, we can undoubtedly arrange
with them.
We think the benefits to be derived
from such a system will be seen readily
by all and should further information
be desired we will he pleased to furnish
it.
Charges for receiving and storing
grain:
Receiving and shipping, including
Is days storage, per bushel ...... 1c
Storage, for each Is days or part
thereof, per bushel. ....... $500. &c
Transferring, from II car to an
other, per bushel. ............. &c
Winter storage commences NOVem-
Der i and ends May Is, and will not
exceed four cents per bushel.
Here we have the storage of grain
under State supervision; State weigh
ing, inspection and grading; State stOr-
age receipts transferable by sale and
delivery; but priuute cash advances
upon such receipts.
Now | have positive knowledge of
the fact that within the last thirty days
money has been loaned upon real
estate security in this State for ninety
days at the usuriOuS rate of IS per cent.
and we are reasonably safe in assuming
that upon the security Of grain receipts
the farmer must pay at the rate of two
per cent. month for cash advances"
Let us thus suppose a s 4 farmer
stores 800 bushels of S0-cent wheat,
value $240 and bOrrOws thereon 5000
for six months at two per cent. a
month. At the end of six months
wheat must have advanced eight cents
per buShel in order to pay the interest
upon the cash advance. If it advances
II cents per bushel and the 800 bushels
in question was stored on November
Is, the interest, storage, charges and
insurance will absorb the whole II
cents advance IN price.
Now, suppose that the people, or
government, make the cash advance
of 5000 at the rate of two per cent. a
year. Atthe endOfs six months the total
interest charged would be two dollars
and if wheat had raised in price Il
cents per bushel, the farmer would be
able to pay the interest, storage and
insurance charges and yet be benefited
in the sum Of $22 or u cents per bushel
on the 300 bushels stored.
There is no better security for money
in the world than wheat at its qOId
value in the Liverpool market.
GEORGE @. WARD.