Daily capital journal. (Salem, Or.) 1896-1899, 1897-06-02

ury plan. There IS no dOuOJ Oub OhaV
this plan would circulate money, cir
culate it too much, our political oppo-
nents say. The Oregon Mining Jour
nal saws the sub.treasury plan is one
of our Impractical" ideas. The men
who originated the plan were farm
ers or represented that class, and
farmers are nothing if not practical.
France adopted the sub-treasury plan
in 1913 and it is still in operation
there. There are several forms Of
this plan 10 the United States. The
national bankers deposit their bonds
in the treasury and draw notes, at a
charge by the government Of only !
per cent, which are used as msney.
Gold and silver owners have deposited
their mutual bonds in the treasury
and drawn certificates which circu-
late as money.
The distillers deposit their liquor in
government warehouses and use the
certificates of deposit as collateral in
the banks to get loans. The trouble
with the Populist sub-treasury plan
was that the people were not prac-
tical, as ignorance and party super
stition always are. They said it was
class legislation, yet upheld the same
kind of legislation for BANKERS and
the manufactures of whisky! 1t was
not class legislation clearly, for what
IS good for the farmer is good for ev-
eryone else, as they all admit. There
fore il would be mass legislation. Ag-
| riculture is not class occupation.
The sub-treasury plan was the biggest
idea on money that was ever put into
political platform. 1t monetized
products. 1t made them more i'm
portant than money, as they would
Immediately command money. 1t set
labor above money, above capital,
where as now money or capital are
above labor. Labor is or ought to be
the most important thing in the
world, but as Lincoln said, the.agents
of capital haYe set capital above la
Dor in the structure Of society and
COY yernment. 1t was tremendous
idea, but our opponents were too ig-
norant ana prejudiced-too f ull Of the
ancient superstition of gald and sill
ver-intrensic yalue-tO give it con-
slderation.
suggest the following platform:
1 We demand an American system
of money and denounce the British
Rothschilds gold standard. We de-
mand that government, not corpora
tion, shall issue and circulate money.
We demand that the government
shall provide money Of gold, silver
and paper sufficient for the needs Of
the people, which shall be a full legal
tender, and that no dollar shall be re-
deemable in any other dollar, and
shall circulate the same by means Of
government banks at the rate of
rental Of farm lands, one-third to
capital and one-third to labor.
We demand an inheritance tax,
and mortgage tax, and that notes
net having the stamp if the assessor
shall be void.
We demand that the people shall
rule instead of corporations, to the
accomplishment of which we favor the
direct election of preside ent, judges of
the supreme court and United States
senators, and direct legislation.
We demand that the government
shall foreclose its mortgages on the
Union and Central Pacific railways
and acquire the same, and extend the
time to the Gulf of Mexico, and oper-
ate it for the benefit of the whole p co.
pie, and shall build the NIcarauga
canal and operate the same.
8 We demand postal telegraph and
postal savings bank.
6. We demand protection for Amer
lean labor equal to the difference he
tween wages in Europe and America,
and advise cooperation of labor, and
commend the labor exchange as means
of freeing labor from the robbery of
corporations.
I. We demand the prohibition Of
alien ownership of land and mines,
the ownership of banks,or bank stocks,
transportation, or railway stocks.
S. We demand a reduction of sal
aries, emoluments and expenses,
county, state and national, TO cores
pond to the reduced wages Of labor
and prices of products and property.