The Kinsley graphic. [volume] (Kinsley, Kan.) 1890-1940, 1891-10-09
rHE sURTREAsURY PIN

the advantages OF the elevator ware I
house system over the oId-fashioned |
method of storing wheat in bins on the /
farm, and we intend to show in future /
issues to what extent, ia our opinion, |
the system can be safely Carried. We
have only space this issue u refer
briefly 20 one OF two points.
First, The sub-treasury plan was not
part of the people, party platform
LIST year, but since then it has been
thoroughly discussed throughout the
country and was adopted is one OF the
demands OF the party at the national
convention at Cincinnati, when the
peoples party Of the Uuiteu States
was formally organized. Ali the
details Of the plan have not been
No. i.ed out and arbitrarily established
81 tadt no changes can be made, but
the main features Of the system only
have been agreed upon, leaving minor
details subject to change-iI expert
euce should show certain notifications
necessary. No system of law has ever
been established so perfect that no
amendment was necessary.
Again, the suD-treasury warehouse
plan is simply the extension, with
some notifications, Of the elevator
warehouse system ALREADY in success
ruI operation in many large cities.
Government ownership and control is
proposed to be substituted for private
monoDolistic control, and the form of
/ the warehouse receipts now issued Will
be slightly changed SO that they viii
circulate as money without Huctua-
ton, and being issued by the govern
meut, will not lie dependent on the
soiveucy of any corporation for their
redeeilab'e uess.
( Under the present system in vogue
ia the cities sieculators st re wheat in
elevators and receive warehouse re
ceipts which circulate as money almost
as readily rs bank bills. but the bene
its Of the system are confined almost
entirely to pc pie living in cities. We
propose to extend the system so that
the farmers may avail themselves Of
its advantages and place it under the
control of the government so that the
people who deposit their grain viii he
absolutely safe, and be required to pay
no more than the actual cost Of stor-
age, insurance, etc.
r The objection made by the Mercury
that il after the wheat was deposited
the price should fall within one yeul
} 10 such d point that the value of the
= grain would not equal the amount
; advanced by the government, the
/ government would be loser, has been
answered by the article from the
AdUocate, but, it may also be said, thai
2 the objection could be easily ObviateJ
2 by providing that if the price of tn,
. article deposited should fail 50 that it,
{ value would be no greater than til,
l amount advanced, it should be sold bl
e the government at the market price
= and the proceeds held to redeem tn
certificates issued, unless the owner o
/ the wheat surrendered suhicien
= amount of tine certificates issued t.
a secure the government from loss. Thi
3 would eTectually secure the govern
u ment from loss. 1t is not proposed
It this system that the government sha
It lose III any event.
5, The government acts as simpI
depository, stores the grain in ware
ie houses, charges the actual cost only q
D handling and storing, issues certif
L. Gates to certain per cent. of tin
II market price OF the grain, which tn
Is government guarantees, SO that the
N Ossess all the attributes Of redeem
); able bank notes, and Will pass &
Id money unquestiuned, and also issues
ia warehouse RECEIPT for the amount ,
III the grain received, subject to the ce
es tihcates mentioned, which receipt Ell
IS titles The holder to the amount Of IL
IN grain deposited upon demand and su
H. render of certificates to the amour
'n advanced on the grain in the fir
place, with the condition that if Il
I'll price falls to "a certain point the OWN
re must secure the government in Il
al manner stated, This is the system no
de followed where coIlaterals are put 4
u as security sor money advanced, az
he there is no reason why the COVER
ut meut should not be protected in Il
Ia same manner.
The owner Of the grain takes Il
IN same chances of the price falling til
rs he would take If the grain was IN h
-e' bin at home, and besides lie has q
Ell benefit of t!ie advances made to him
at but under this system he would not
is compelled to sell to raise money to p
.lo his debts, when he believed that Ia
oy few months tbs price of his gra
would materially advance OF couT
TIA under any system he must necessari
iai take the chances that some cause IA
ed -, ~ hin. mn, rsdYce tI,e pri
les of below its value at the time it
an stored.
Ih
isd THEY HRE LIVE QUESTIONS
'o Kate Field. the famous yVashingt