The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1892-02-16

and the farmer fixes q reasonable price
and sells. It is bought for cash, shipped
at once and sold for cash. The ware
house man needs no more than his cash
capital, as he does not have to buy and
hold. Where is the need of banks tC
accommodates The farmers out Oh
debt, holds until there is a demand,
These holdings does, not call for any
cash. These hOldingsrepresent labor
and money expended and not debts. Ii
he is in debt the holdings represents
debts to those who carry him and they
must borrow. It takes more money to
do a credit business than a cash busl
ness, as men are compelled to borrow to
hold. If he farmers are in debt and
compelled to sell, the warehouse man
is compelled to borrow money to hold
this produce for the market. Every
dollar of this produce held represents
the money borrowed to hold. Ii the
warehouse mar is compelled to buy
and hold for market one hundred thou
sand dollars Of produce he must nave
this much more capital than II ne
bought and sold at once for cash. Ihls
cOmpels him to borrow and this calls
for banks. If the farmers T out o
debt and hold until there Is a demand
for his produce, the warehouse man
will not have to borrow one lei HIS
cash capital will transa It all his busI-
ness and the interest on money and
storage is saved. It will not require
near so cOmmOdlOuS warehouses to
transa It the business on a cash basis.
The farmer has the consolation OF fix
ing a price on his produce that will
compensate him for labor and money
exp 4nded. The farmers out of debt and
money in their pockets instead of in
the banks, they r not compelled to
sell until there is a demand. Where IS
the need of banks to accommodate?
Can any one tell? The robber credit
financial system congests money into
the hands of the few. The industrial
financial system will distribute money
among the industrial class and it will
stay in the pockets of the people in
stead of in banks. When it is in banks
and reserves, the people are in debt.
When in the pockets Of the people they
are out of debt. When we have estab-
lished the industrial financial system
there will be no reserves, banks or
money loaners. AS soon as every in
dustrlal class can hold and sell when
there is demand there will be no de-
mand for banks to accommodate.
Prices will be uniform, tor all surplus
will go over and supply DEFICIENCIES of
other seasons. This will give uniform
prices, as there is the same demand at
all times of the year.
The present credit financial system
is Numerically opposed to the interest
of the industrial class and all the mid
die men. The present system must be
destroyed, root and branch, before we
can become producers as a whole. The
present system was created to rob and
1T has done so from the time selfish men
conceived it. Money must be a full
legal tender created by the people for
their convenience and it must go into
circulation without the intervention Of !
hanksq Abolish banks OF issue end
an Industrial financial system
the absolute control of the peO-
pie and there will be no need of banks
to accommodate business men. Every
of the peoples money must go
into circulation without leaving
interest bearing notes to rob industry. /
wer established to compel the
banks loaned their debts and drew in
terest on what they owed Money
must 90 direct into the channels of
trade and every condition that will
take it out must be eliminated. We
must havea financial system that offers
every inducement to mOnied men to
and employ labor and none that
offers inducement to love money and
our Industries. This will de.
stroy or remove the present antagOn-
ism existing between the industrial
and the creditor class. With the Sub
Treasury warehouses those in debt or
compelled to sell will deposit their
and receive needed relief, while
those out of debt can hold at home
until there is a demand for their pro |
1uce. 1t would not be long until the J
class would be out of debt anu /
they would hold their produce In a
location where it is not convenient to
have Sub Treasures, the farmers must \
co operate and advance needed relief
TO those who need help to tide them
over. Farmers must cooperate end
assist the unfortunate, as they will no
be compelled to throw their produce OF
On the market and place them q 9
mercy of the speculator and thusl
price at which all will be COM De VITO
sell. With the right kind of a Pan
cial system the demands for nese
warehouses would be limited { 3 the
start and would gro " less as t arm-
7rs got out of debt. AS fa1 the
farmers got out of debt th would
nOld at home until there was 3mand
or their produce. The farD out of |
lebt would notneed the Sub Asuries |
Every argument often I'm this
article will aDplv to every er class
The farmer sells for CASH buys of
he merchant for cal, the mer-
liant buys his pooasI, cash, and
here is no dangeT Of ing up If he
conducts his h-ISeineae -siness prin-I
.in]es NirotU 80 mercantile
result 49, III edit system.
7horo 10 M &C. - ~ ess men who
das;ro go M ~ vantage from