The midland journal. (Rising Sun, Md.) 1885-1947, 1891-04-24
Friday, April "a, 1891.
nae SUB. Treagury and Land loan

The Sub Treasury and Land Loan.
This financial policy which is SO violently
attacked by plutocracy and misrepresented
by their newspapers, is gaining favor and
advocates among the agricultural classes
wherever it becomes known and properly
understood. This is not surprising both
plans are so simple and obviously honest
and fair that no respectable argument can be
made against them. Wherese-- aud when
ever tried they haye always proved emf
nently successful and beneficial TO the
industrial classes, but not profitable to the
purely money loaning set The statistics of
trade and prices of farm products, compiled
for 20 years past demonstrate that farm
products have in that time annually increas-
ed 10 price an average of 40 per cent after
leaving the hand of the producer by the
time they came in possession Of the con-
sumner. In a word, the SPECTATORS in food
products have made 30 per cent out Of these
staple necessities, in their transit between
producer and consumer.
This abuse the sub-treasury bill is de-
signed TO correct by placing the power to
hold his crops in the hands Of the farmer
tillthe shipper and manufacturer or con-
sumner are ready to purchase. This can be
done by providing government warehouses
in heavy grain, tobacco and cotton growing
districts, and issuing so per cent of their
market value at the time Of storing the pro-
duce. With this advance of money farmers
will be enabled to make necessary purchases
and hold control Of their crops for sale any
time within the year. They could not then
be bought at low prices by spectators and
made the basis of gambling In grain and
cotton futures. Such a law wonld save the
farmer from the banks, for he would have
all the money his crops would bear at his
own disposal, at one per cent interest for
the entire year if he SO determined.
The land loan is on the same principle,
but the time may be made much longer
fen or twenty years before the loan would
fall due. The latter plan looks TO per-
manent increase of the circulating medium
or money, 10 fully supply the demands Of
the business of the country, and place it on
cash basis, or nearly SO, in place of the
present credit basis, by which the whole
producing population are made subservient
10 the will and pleasure Of money brokers
and banks, who make their own terms and
furnish money at usurions rates 10 transact
business with, which should cost the lowest
possible per cent. To break up the system
of usury which is running the industrial
classes, and sever the government entirely
from the money trust which is robbing
them, is the grand work the people are ad-
dressing themselves to. They are fully
satisfied that our government should be
Independent in its financial, as well as its
other branches of administration, and be-
come the loaner of money to the producing
classes direct, in place of compelling them,
as by its existing financial policy, to go TO
middle men to obtain the money they need
In transacting their business. In the light
of common sense such system is a wicked
folly and farce. A superficial thinker be-
lieyes if he doesn't borrow that he is pay
ing no interest to the loaners of money, but
this is great mistake. Every man and
woman helps pay the interes to nmoney that
the butcher, the miller, the merchant, etc.,
have to borrow to conduct their business.
They must add this interest to what they
sell and the consumer in the end pays all;
hence, any system Of finance for the country
that lessons or abolishes the all devouring
canker of interest will prove an inestimable
boon TO producing industry. Or when the
government becomes the custodian and
loaner of money-in word the peoples
banker-interest will go into the tax fund
and help defray the expenses ofgoyernment,
in place Of into the pockets of select and
favored few favored by partial laws-who
grow richer as the masses become poorer.
The system is all wrong that produces mil
lionrires and paupers. Such system is
not good for society. 1t is an abnormal
and unhealthy condition, and one that the
intelligence of the age is investigating with
the determined purpose of correcting.