The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1896-05-19
THE SUB-TREASURY.
Correspondence CT The Progressive Farmer.
HIGHLANDS II. 9.

in your paper? If you answer yes,
then print my say, and if it is satisfac
factory when it appears I may write
you again.
There are nine Sub Treasures Of the
| United States, located st Baltimore,
Boston, Chicago, Cincinnati, New York,
New O; leans, Pnilade phia, ST. Louis
and San Francisco.
Up to 1888, the United States bank
was the depository of our public money.
The Sub Treasures came with James
; K Folks administration in 1885 They
appear to be very satisfactory to the
nation, with the light before ma now.
They receive the gold bullion, silver
bullion, the ~seignor8ge of both gold
! and silver and the gold and silver coin.
| They are or ought 10 be the fiscal agents
| Of the government, under the control
| OF the Secretary Of the Treasury as the
law directs. Their officers receive large
salaries from 81. 500 to 81 $50 They
employ both males and females. And
from the light before me, they now
have large amounts of both gold and
silver in mass ~uncoined in the vaults
of little or no value to the people.
We ask that it be coined into money
and sent out.
There are five minis in the United
States. Let them coin into money the
last bar, bolt OR nugget-in fact, all
that is IN mass Of any kind Of metal
used as money and pay it Out to gov
erDment employees. Put it In circula
tiOn among the people, only reserving
enough to meet the obligations of the
government as they fall due. the
The government ought to do business
on a cash basis as rel tes to foreign
nations, and neither lend nor borrow
Of other nations
When the Sub Treasures are out,
issue Uaited States notes il place OF
bonds and enact a law that they shall
be receivable III payment of all debts,
public and private, and annex heavy
penalties for anyone to receive any
money Of the government, or pay it
out for less than its face value. II
gold is needed to pay off the unholy,
ungodly bonds given for gold, send out
government agents and buy up wheat,
cotton, pork, naval stores, m8nutac-
turtd goods, all kiLd5 of goods, wares
and merchandise, ship TO other nations
sell for gold, Settle these bonds and
give no more.
Taese United States notes we're the
sinews of war. They subj gated the
South. They bore US down and brought
US under, emancipated our slaves |
and gave Us 40 pay, upset society and
changed u Ia rs. Now let them be
the sinews of peace. Buy the farmers
wheat, cotton, rice, naval stores, all
the produce to sell over our support, |
prices will then go up; there will be no
more bonds to iegue, no more National
banks established.
We want q Sub Treasury at the Cap |
ital of each State in the United States, |
and one in each town AMI village in
the States al business demands, to sell
exchange to the people, to loan to the
people, to receive deposits, and then
depositors could sleep sound; their
money would be safe as the govern
ment itself. Old men, widow women,
factory girls, sheritf5, administrators, |
executors, lumbermen, farmers, mer-
chants, mechanics-all depoeitors-
oo,II ~ - I'D nth n GSkho1% ~ ~ |
on their lips, my money is safe; it Is
ia the Sub Treasury Of the United
States. Wo would have Sub Treasures
to regulate and to be regulated, to sup
port and be supported, and the best
currency and banks in the world. Let
the issue of bonds cease, and the Cry
for gold stop; have three main lead
ing kinds Of money, to wit: gold coin,
sidary silver coin an ! the minor cOinR). |
Let all who trade or travel in for
eign lands make their own exchange. /
Silver is to be restored to it's proper
place in the government, Is to 1, and
let gold AMI silver be coined at that
ratio, and United States notes equal to
either in vaiue-all three tx be used
until unfit for Ds9-and then returned
to the mints to be recoined and new
Ones issu, d. Down with the intrinsic
value and redemption theory They
are twin curses TO every government
that ever existed.
Some few rich landowners n Oaslow
want a bank based en- real estate. or