The Pickens sentinel. [volume] (Pickens, S.C.) 1871-1903, 1892-06-02
TlIURSDAY, JUNE ,, 1892.


In speaking OF the proposed sub-trcas.
nry scheme MIR. Mills says that there is u
feature OF the system HAT seems to have
escaped the attention Of its advocates. Its
OhiCct is TO brnciit farmers and the money
TO hc issued under its provisions is to he
lnancd TO them on The deposit OF certain
farm rr"GllctS The bill by which this
system is to bc established provides that
when SlHo worth of corn, wheat, cotton or
'"oacco IS deposited the Owucr is to re.
cciNr $50 In treasury notes and n ccrtifi
cate for SEQ more, and the products orc to
remain in the possession and CUSTODY of
the Government until the money advanced
Is repaid with interest and the certificate
returned. This is the method provided for
putting in circulation the "plcntiful SIM.
ily OF paper money! The four crops
mentioned will aggregate in value uboui
5000 ,op0,0n0 and an amount cuunl TO
&l,GHH, coo, 900 is TO be locked IN in the
Fnsrheasury ware houses 10 raise the prices
CT thC Products till the owners arc wiling
rs srll '5
This is tic most gigantic combination in
restraint OF trade that has ever been pro-
pose" '"h Legislative assembly. 1t is in
comprehensive that those who ore loudrst
in c"nd, mnation of trusts and comhin..
lions arc loudcst in advocacy of this. md
The very people vino proclaim rs their cor-
d!nnl principle "cqnn rights to all and cx-
ciusiFc privileges to none" arc demanding
cnmDinhtlon prices for their pro,luc,s
whlIc the rest Of the fellow cit,zcns orc tn
ne forced by Act Of Congress To ro without
clothes and withGnt food unless thry INV
Inc drnositorS tho increased prices. C,n il
DC possible that they have ever lhourht nf
!hc enormous suffering they would send
in'o the homes of thousands of pcoplc?
lave lllry ever thought of what would he
t'c cil""i upon themselves? The first cr-
i''' "o'llu DC scarcity of products in the
', ,,.,'' M''S 'hlS would force up price every
Wll" arc playing the bluff game aroiust
the world? '''''''''
0l"hrT Is scarce in the pockets OF those
VINO earn it by thcir labor, but il is NOT
scarce IN the country. There are more
lhnh SiG"o,o'o,0o0 in the United States
n"','"c the treasury. but it is concentrated
iy IAN instead "f being distributed bv Ia
Dor. 1hr scarcity Of money in the pock.
cts "t those who earn it is To- Ec ailrihutrf
to unjust and excessive taxation. and I,
that alone, and if 81 600 ,OOO, 900 were Iis
tr'M'cu tHday the existing system an(
rates OF taxation would soon concentrate
u, as II lias done tic existing amount, IL
the c"iic's Of few. The amount OF
- '''o'N y III 'i' NIiit'n CtNttS Is much greater
today III proportion to population than i,
wGs at any time from 1850 to 1860. The
average circulation per head for the eleven
years ending with 1899 was $l5.s6. Thi:
was the most prosperous decade that the
country has ever known. Now we have
$;2t per head. with great industrial dcprcs
SION. l nc cause Of the first was low taxa
ton ana the cause Of the second is high
taxation. In the first period labor was left
to .crcatc and keep wealth among those
who earned it. In the second period taxa
non for private purposes is taking from la
hor That which it earns and giving it to the
lew who do not earn it,
The remedy, and the only remedy for
the evil, is. remove the present system of
tnXa'ion and supply it by one whose sole
object IS to collect revenue sufficient 10
$nprcrt an economical administrator ion OF
me Government, and so lay the burden
that each person will be required to con-
'FIDutc TO Government support according
TO his ability and the interest he has to he
protected by the Government. When thi 8
is dOnc there will he no more complaint Of
fcarcr money, and the sub. treasury will
laS9 INTO hlstGry aS a bubble that was cX-
p!od"d before it was blown up. and before
" had scattered dcsOlation and ruin over
tic faircst land on the surface of the globe.