Dakota farmers' leader. (Canton, S.D.) 1890-19??, 1908-02-21
Mr.. Hotter on Elevator Currency

~ - ~ %OodS ~ - -
ly met with one objection to the
grain certificate for a currency and
this says:
The market value Of grain is so
~fiuctuating a more stable security Is
required. There seems to be some
reason in this on the surface but If we
examine into the proposition 1t does
not hold good.
The proposition calls for a fun gov
eminent control. The grain passes
from the producer into the govern
ment elevator. The consumer pre-
sents his order for grain to the eleva-
tor authorities and receives it and
pays for 1t. The grain gambler has
no hand in it. And we know 1t is the
manipulations of the grain gambler
that causes the cratic fluctuations In
the marked value Of grain.
Shut the gambler out Of the oper-
alton and the prices of grain will be
far more steady, they will obey the
national law OF supply and demand.
If the demand is great and the sup
ply is comparatively low a given num-
Der bushels Of grain will represent
more dollars. IT the supply is large
and the demand thereby slackens the
same number OF bushels will repre-
sent fewer dollars, that will be all the
difference there Is.
The purchasing power of the grain
certificate dollar will be even with
any other dollar In all other business.
We will admit that the market val
lie of grain In the nature Of things
cannot very we'll have the same sta
bility as gold, yet the intrinsic value
Of grain is greater than gold, grain
will sustain and recuperate the vital
organs OF life which gold cannot do.
1t is not proposed that the grain GER
tihcate shall take the place Of gold in
our money system, gold will continue
to be the basis upon which this sys-
tenn rests; the grain certificate will be
an auxiliary a n adjunct to meet the
Increased demand for currency at the
crop moving season.
We have a duty to fulfill as citizens.
Citizenship is not a mere phrase to
play with. There are always wrongs
surrounding us to be righted and the
property resting in citizenship tc
right wrong Is its most supreme char.
acter.
The first wrong to be righted by the
measure proposed is the vice Of in
fiicting u circulating currency with
undue interest; this is a scheme in
stituted by greedy money grabbers;
and this is a theft that Mr.. Bryan in
Weighed so powerfully against in his
lecture in Charnegie Hall, New York,
on the subject: "Thou Shalt not
Steal"
The second wrong to be righted is
the abuses and the confusion that
our grain trade now is suffering I'M
der as pointed out in a former arti-
Gle.
The third wrong to be righted is
the awful abomination Of gambling In
grain, vice for which every voter is
responsible as fully as the gambler
himself.
Says Bryan in the same lecture:
"Thou Shalt not Steal"
Gambling IS one of the worst OF
vices, and gambling in stocks and in
farm products IS the most destructive
form In which the vice appears.
Measured by the number OF suicides
caused by the New York stock ex-
change, Monte Carlo b an innocent
pleasure resort In comparison. Meas
ured by the amount of money chang.
ing hands, the contrast is still greater
In favor Of Monte Carlo, and measured
by the influence upon those who dc
gamble, the evils OF Monte Carlo are
Insignificant when compared with
the evils OF New York's commercial
gambling houses"
Howldo those that do not gamble
suffer retribution for the vice OF the
gambler, who they permit to carry on
the trafficp Let us see: These gam,
blerS commence to bet upon the far
mer's crop before he has the seed in
the ground and they keep on as the
season proceeds, keeping the farmer
In q constant boil of anxiety, he is
preparing his crop but he does not
know what returns his work MAY
bring him, not even when he takes
his load to to wn does he know what
may meet him. 1t happens when he
gets there that he finds the bottom
dropped out OF the market and his
product seems to be worth nothing.
II he has no debt he may try and con-
sole himself with letting time take
care OF matters. II he has payments
TO meet at appointed time his hope
is fractured and he finds himself q
wreck stranded upon q rock.
Shall We not give a helping response
to the powerful pleas OF our fearless
nA--Al.AA