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r u i i , ; . UiJk. J:..L f).7(f M I Devoted to The Interests of The Farmers' Alliance and Industrial Union and other Kindred Organizations. VOL. I. TOI'KKA, KANSAS, JANUARY J), 1S)0. NO. 2J. Tlie Farmers' Alliance and In dustrial Union. KKl'OTtT OK Tllfc CO MMITr K K ON Til K MON K TAHY NYNTKM. AT THIS NT. l.Ol'I MKKT 1N(1. The financial policy of tho general Gov ernment seems to-day to bo peculiarly adapted to further tho lntreHti cf tlio sicculnting class, at the evponso and to the manifest detriment of the productive clai-'H, und while there arc many forms of relief offered, there has up to the present than been no true remedy presented which has Hccured a Hiipport universal o!ioup;li to render it adoption probable. Neither of the political partle offer a rem edy adequate to our necessities, and the two parties that have been in power since the war have pursued praeticlally ' the same financial policy. The nit nation in thin: The moat desirable and necessary reform is one that will adjust the financial system of the general Government ho that its provision cannot be utilized by nclass which thereby become privileged and is in consequence contrary to the genius of our Government,' and which in today the' principal cause of the depressed condi tion of agriculture. Kcgnrdlois of all thi'a tho iMtlitical parties utterly ignore ' those great oVils aud refuse.; to remove thelf cause, and tho Importunities of tho privileged class, have no dqubt often M tho executive, and legislative, branches of the Government to belie vo that the masses were passive and reconciled to the existono of thin system whereby A privi leged eias caii, by moan of the power of money to oppress, exact from' labor all that it pmluceB except a bare HubNlssaiicu. Since then it ia tho moat necessary of all, reform:, and receives no attention from any of tho prominent political parties, it id highly appropriate and important that our, efforts bo concentrated to soeuro the needed reform in this direction, provided all can agree upon such measures. Such action will in no wise connect thl move ment to any partisian effort, as it can lie applied to the party to which each mem ber belongs. In seeking a true and practical remedy for the evils that now flow from the im perfections in our financial system let ud lilrst consider what in tho greatest evil, the one that outstripn all other no far tluit it is instantly recognized as the chief, aud known wit hcertainty to be more op pensive to the productive interests of the country than any other influence, is that which delegates to a certain das the power to tlx the price of all kind of pro duce and of all commodities. This power is not delegated directly, but It Is delegated Indirectly by allowing such clans to issue a large per cent of the money used a the circulating medium of the country, and having the balance, of.Buch circulating medium, which is issued by tho Government, a fixed quantity that U not 'augmented to correspond wlt.h the necessities' of ihe 'time's hi' consequence of (hi the money Issued by the privileged class, 'which they arc at liberty to' with draw At pleaflurean be, and ivl, to ink' hipulated as to control this volume of uir cnlatiagrnrdiuhviniho r.dnutry GuftUlr cutly tp,prpdu?e fluctwAtiojja Jin . gneraj prices it tfioJr pleasure. li May be.llktai' W VufttH'H 'vmf le illUMtertloA) lb ' phllto picptfhc ifctfcilMei r&m ut itta -Mir ernrjcat Uzno la the fcrum, tae volume of the );a?!i km la i,yJO.'.l'ij,'cwcrAv''!.i price is the jtoint at which power I np- plied, and It is either raised or lowered with great certainty to correspond with the volume of Issue. Any mechnnlc will instantly recognize the fact that the quickest and surest w ay of destroying tho power of the lever to raise or lower price Is to remove tho resistance offered by tho fulcrum the Intlexlble volume ofdov ernmeiit issue. Tho power to regulate the volume of money so us to control price is ho manipulated as to develop and apply a potent force, for which we have in the Kuglinh language no name; but it is the power of money to oppress, and is demon strated as follows: In the last four months of tho year the agricultural pro ducts of the whole year having been har vested, they are placed on the market to buy money. The amount of money nec essary to'supply tills demand is equal to many time the actual amount in , circu lation. Nevertheless the claw that con trol the vol tune of t he circulating medium desire to purchase these agricultural pro ducts for speculative purposes, so they reduce the volume of inoney by hoarding, In the face of the augmented demand, and thereby advance the' exchangeable value of the then inadequate volume of money, which is equivalent to reducing tho price of ,tho agricultural product Truo agriculturist should hold their pro duct and not sell Ut them) ruinously low prices. And no doubt they would If they could, but to prevent tluVt, practically' all debts, taxes, and interest are made 1o ma ture at that time, and they being forced to have money at. a certain Heason when they havo the product of their labor to sell, the power of money toopprvH by its scarcity i applied until It make them turn loose their product ro low that their labor expended doe not average them tlfty cent per day. This Illustrate the power of money to oppress; tho remedy, a before, lies in removing tho power of the fulcrum the lnlloxlble Government issue and supplying a Government issue, tlio volume of which, shall be Increased to correspond with the actual addition to the wealth of the Nation presented by agriculture at harvest time, and diminish ed as such agricultural products are con sumed. Such a llexlbillty of volume would guarantee a stability of price based on cost of production which would be compelled to reckon tho pay for agricul tural labor at the same rate as other em ployment. Huch flexibility would rob money of it most potent power-the power to oppress and place a premium on productive effort, hut how may so de sirable a result bo secured? hot u see. 15y applying the same principle now in force lathe monetary Nystcni of the Tint ed IState.H with only Might modification in the detail of their execution. The Gov ernment and the people, of this country realize that tho amount of gold and silver, arid the certificates based on these metal, do hot comprise ii' volume of money suffic ient to simply the want of the' country, and in order to increase tho volume, the Government,,, allow individual to asHoclatn , , themstdvert into & body corporate, and. . deposit,; ,,wlth thtf Government' i bond which , reprc Rent National ' hideUdnei," which the Ooverfctn7nt holds 'h trnsteiud 1 mcix fc6?jioratI6tt taper 'rnoidy equal - td jaJn'jrwKi of lJvii jfJi IJondiij Bald paper money. , Thb allow the Istmo of paper money to increase tho volume of the circulating medium on a perfectly Rife, basis, because the margin I a guarantee that the bank will redeem tho bond be fore they mature, hut now we rind that' the circulation secured by tills method U still not adequate; or to take a very con servative position, If wo admit that it is adequate, on tho average, wo know that tlio factof it being entirely inadoqauto for half the year make itn Inflexibility an engine of oppression, because a season In ' which it is 'inadequate must be followed by one of superabundance In order to bring about the average, and such a range in vol ume means great 11 act nation In. price which cut agaiuwt tho producer, bot.li in buying and selling, because-ho must sell at a season when produce 1 low, and buy when commodities are high. This system, now in vogue by the Tnited State govern ment of supplementing It circulating me dium by a safe ai.d redeemable paper money, should bo pushed a little further aud conducted in nuelm, manner aH to ho curtf a certain augmentation of supply at tho season of the year in w hich tho agri cultural additions to the wealth of the Na tion demand money, and a 'diminution in such mpply of money a kald agricultural products are consumed, it 1 hot an avc-' Uo adequate amount that 1 needed, j.e-' cause J.cider it the greatest abuse amy prevail, but, u certain udequato amount tJiat adjust itHolf to tho want of the coun try at all iKiaHou. , For tui purposo let us demand that tho United fcitato government modify its present financial system: 11 1. So a to allow tlio free , and ulillmited coinage of silver or the Issue of silver cer tificate against an unlimited ' 'deposit of bullion. 2. That tho system of using certain bank a United State depositaries bo n bollHhed, and in placo of said tostem, es tablish in every county in each of tho Staie that offer for sale during tho ouo year live Ifundrod thousand dollar worth of farm product;, including wheat, corn, oats, barley, rye, rice, tobacco, cotton, wool and sugar, all tog.,er; a sub-treasury of fice, w hich shall havo in connection with it such warehouses or elevators a uro no cesHary for carefully storing and preserv ing such agricultural product m are offered It for storage, and it should be tlio duty of such sub-treasury department to receive such agricultural product a are offered for storage and make a careful ex amination of such product and claw same a to quality and give u certificate of tho deposit showing tho amount and quality; and that United States legal-tender paper Money equal) eighty per cent of tho lo cal current value of tho products deposited ha been advanced ou same on interest at the rate of one per cent ! per annum, on, the condition that tho owner or, such other pvrsouariliu may authorize will redeem tho agricultural products within twelve months from date of tho certificate at the trustee will sell same at public auction to the highest bidder for tho purpono' of eat Isfying'tfio debt. lTleshle tho ' ono per cent Intercut the sub-treasurer should bo allowed to chftrgo a trillo for handling and storage, and a reasonable amount fox In, fluraucft,but the prciuUe' necessary,-' for conducting this burnous should ho secured by tha-various ccruntlea insit!a 1 tA. th v W illi thlij metliod In vogua tho farmer, when hi roiuco wa haryeted, woul I , place it in Ktorugo where 1 would bo per fectly safv and ho would secure four-fifth of it value to supply hi pressing m ceKni ty for momy at one per cent per annum., lie would negotiate ami sell hi warehouyo, aud elevator certificate , whenever tho current price suited him, receiving fryuv tho person to w hom ho sold, only tho dif ference between the price agreed upon, and the amount already paid by the nub-, treasurer. When, however, these storago certificates reached the hand of the miller, or factory, or other consumer, ho to get, tho product, would havo to return to thv sub-treasurer the sum of money advanced, together with tho interest on same and tlio storage ami insurance charge on tho pro duct. This 1 no new or untried sohenuq tt I safe and conservative; it harmonize and carries out the system already Jn vogue on uroully safer ,phM becnu.)., the product of tho country that miut bo con sumed every year are really tho. very best security in tho world, aud with more jus tice to society at largo. For, a precedent attention 1 called to the .following. In .December, lijlfythe, Londou Time announced the inevitable failure of the, French republic aui disintegration of French society in tho ne;ir future, but ho wise wa the adminiMtvatlon of tho states men of that ','ation that ,two month l::.tor It wa forced to eat it own word -saying In It column February 10, M lf)i ,, , "Aa a mere c()mmercial specuhi.tion yrith , the asset .which the bank held in hand i,t might then havo stopped, pay meut atei, lhiulihited It affairs with every probabil ity that a very few, week would enable It to clear off It liabilities. But thi idea whs not for a moment entetnlned by . M. I )'Argout, and ho resolved to make every effort to keep alino what may bo , termed the circulation of tho llfo-blood of tlio communlfy, Tho task wa overwhelming. Money wa to Im found to meet not only tho demands on tho bank, but the necessi ties both public and private, of every rank In socelty. It wa essential to en able tho manufacturers to work,lcnt their workmen, driven to desperation, should' fling thomnolvos amongst the most violent enemies of public order. It, was essential to provide money or tho food, of Faris, for the pay of troop, and for the daily support of tho industrial , establishments of the nation. A failure on any one point would have led to a fresh couvulslon, but tho panic had been followod by so great a scarcity of tlio metallic currency,' 'that a few days' inter, out of a payment ; of 'ify O()0,(H)(V fallen due, only 47,6', iratie could bo recorded iu silver. ... (.y v hi tni extremity, when th-sf "bank; alone retained any available sunn vH luony, the goveriiment came to tho rescue,! and' i6h the night Of tho 15th of March,' th'i uotci of the bunk were, by a decree' made a legal ten!' rj th'fl issue of these notes being limited In all to 330,000,000, but tiift amount of tlio lowest of them reduced for thp.pjiblic- convenience to 100 rime,. Pu,of.thp great difficulties mentioned in tho repctrt wojj to print tkeso 100 fane ribtis fast enough for the public comump tiou: 'hi ten daya the amount htaued in this 'fl)fmrhad reached 80,000,000 frazi'ci . '" tho inaau.ficturlu:y h.-VV '. 'tii"tvaiWrtho Atornibt a tt-.lici.t V'.v;.?; HiW pa,Wcvt4iVvts!'r:v:' a:;'V ir';:V'i:nV.;;;;;t!;'V: p :