The midland journal. (Rising Sun, Md.) 1885-1947, 1892-02-26

system is a warehousing system with
the benefits arising from it accruing
entirely to the advantage Of favored
classes.
The farmer looking abroad over the
earth from his green fields saw all these
things and be said: II have better
security which / can eivs our govern
ment for some of its favors, than any Of
these people. 1t it wasn't for my crops
what would the bonds which the banks
warehouse in order to obtain money
from the government be worth? If it
wasn't for my crops this whiskey indus
try could not exist, and at best it is the
worst Of nuisances which our govern
meut is unfolding and encouraging.
Now, why shall not this warehoueing
system Of our government be extended
to me? If these classes who are now
enjoying it are worthy, I am also
worthy. IF the security they offer for
the use Of our common governments
credit is considered ample, the security
| offer is far BETTER
The Alliance does not offer the sub.
treasury plan as system Of finance, but
only as method to procure money
from first hands. As things are man.
aged at the U. S. Treasury the money
is placed in the hands of agents known
as national banks, which agents have no
use for money except to loan it at
a heavy rate of interest to those who
use it. And as spectators and gam
blers can afford to pay the highest rates
of interest they control the use Of most
ofthe money. But the banks have dis
covered that by using the governments
credit they can do business at greater
profit than by using notes or bills of
exchange, that is national bank cur
rency, aud they have returned most Of
their bills to the treasurer and use prin.
cipally the credit which the government
has kindly loaned them without cost,
depending for the small amount Of cash
they use, on the silver notes and green
backs deposited by their customers, and
the small amount Of gold and silver coin
in circulation, thus creating constant
dearth of money, cramping every useful
business, steadily lowering prices and
throwing labor people out Of employ
ment.
The farmers do not ask the gov.
eminent to loan them money or
credit to speculate with as the banks
do, but to use in promoting their
business and place in circulation in
order that the general public may
enjoy the benefit of an increased
currency without paying an enor-
NOUS rate of interest for it. The
farmer by the sub treasury plan de-
sires to obtain money in order that
he win not be forced to sell the
products of his whole years indus.
try at whatever price his creditors
offer, and place it on the market In
advvnce of the demand for it, for
shipment or use. enabling the specu.
lator to get entire control Of the
crops, which he is sure to do. In
these demands the farmers are not
unreasonable. They ask for NO in
novations on the principle which
underlies our financial system. They
ask to share alike with other classes
the benefits which impartial justice
will allow them to enjoy. They
Justly complain of an unjust partial
ity bestowed on other classes, which
rebounds to the farmers injury.
They ask that these wrongs be
righted. In short they demand that
the government shall resume its con.
stitutional prerogative of "coining
money and regulating the value
thereof and that regulation of the
value can only be accomplished by
its exercising the power to loan the
money which it alone can furnish
and cease to bestow it's credit on a
favored class to speculate with to the
injury of every interest OF the PEG.
pie. The sub treasury plan is only
one method by which money can be
gotten into the hands of the produc
ing and laboring classes without being
first heavily tolled by banks, whose
object is not to supply sufficient
circulating medium for the business
Of the country but to contract the
volume and loan the governments
credit which cost them nothing.
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