The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1893-09-12
A REVISED

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The United States TO Furnish the
Money and the States to Hold the
Corn, Wheat, Rico and Cotton-Con-
grcssman Talbert's New Scheme.
Special TO the News and Courier.
WASHINGTON, September 5.-Sena-
tor Butler is suffering from O severe
cold and in consequence has been indis-
posed for several days. He is satisfied
that no action on the repeal bill in the
Senate will be taken for two or three
weeks. and as he Is paired with Don
take q few days absolute rest. He
said to-day that he does not ex-
poet the President to render o de-
cision in the internal col
lectorship case until after the financial
question pending In the Senate is set
tied.
Representative Shell Is slowly re-
covering from his recent accident, and
as his physician has recommended
absolute rest he expects to leave hero
for home Thursday for an indefinite
period.
Representative Talbert has prepared
a bin to relieve the financial string
ency, which he proposes to introduce
in the House tomorrow.
Mr.. Talbert takes particular pride in
announcing that he has held various
positions In the Farmers Alliance and
helped to formulate what is known as
the "sub-treasury scheme" or the
"Ocala demands" His bill il drawn
upon the s~ub-treasury plan, and If it
should ever become a law Mr.. Talbert
claims that the farmers will be enabled
to deposit their wheat, cotton and
Treasurer n through the latter re-
ceive United States notes In return.
Here Is the substance of Mr.. Talbert's
remarkable financial proposition:
Upon the demand of any State, ex-
pressed through any legally authorized
officer, the Secretary of the Treasury
Is authorized to issue notes of the gov
eminent OF like denomination as treas
ury notes at present issued and in cir
culation, which notes shall be q legal
tender at their face value for all debts,
public and private and n%on-interest
bearing, and an amount of said notes,
not to exceed $50 per capita upon
the population of each State, ac-
cOrding to the last census preceding
the applicat N to the Secretary of the
Treasury by said officer, be issued to
such State upon conditions hereinafter
prescribed"
The second section provides that the
State making a demand in accordance
WIN tne ISL SeCtlOn shall deliver to the
Secretary of the Treasury the lawful
bonds of said State to the full amount
of the government notes demanded, and
such bonds shall be taxable at the rate
OF n per cent. per annum, said tax to
be covered into the treasury on or be-
fore April ! Of each year by the proper
State authorities, said bonds to fall
due at the expiration of twenty years
from their date. The States are to be
given the right at any time before said
bonds shall fall due to redeem them in
whole or part.
Representative Talbert claims that
his plan Is reasonable and will increase
the currency to a beneficial extent.
He admits it is on the line of the sub
treasury scheme, but he also claims
that a similar plan was proposed by
Abraham Lincoln. The State officers
will be required to satisfy the United
States authorities that the securities
they offer for the notes are good, and
the State officers may accept corn, rice,
cotton or any other product to secure
the loan made to the farmer.
1t is understood that q number OF
other schemes on the same line are to
be introduced during the present Con.
| press.