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VOL. XXVIII
INDIANAPOLIS. IND.  NOV 4,  1893.
NO. 44
Bullion and Paper.
Editors Inoiana Fabmeb:
Is the following so impracticable, or so
visionary as to render it unworthy of consideration by those who are seeking a solution of the difficulty now before us? I
have proposed it many times in the past
two years, and it has not seemed visionary
to thoughtful persons.
Let the Government cease the purchase
and the coinage of both gold and silver,
and let it receive on deposit, instead, at
the Treasury both gold and silver bullion
and issue against that certificates which
would read after this fashion: "There have
been deposited with the treasurer of the
United States 10 ounces of pure silver
which will be delivered to the bearer on
presentation of" this certificate." These
certificates should not be, and they need
not be, made a legal tender. They should
be permitted to circulate at their market
value.
Let all the gold and silver now coined
and .in circulation, remain in circulation
and the same of the paper money.
As a result of this action we should have
all the money that we now have. All contracts which are made payable in "gold
coin of the United Sates, of the present
weight and fineness" could be as easily
paid then as now. But a new circulating
medium would gradually work its way
into use. The certificate!, would be deposited in bank, and the depositor would
be credited with so many ounces of silver
or so many grains of gold; and when he
withdrew certificates of bullion, he would
be charged with the proper weights.
The Government could lose nothing by
fluctuations in price for it guarantees no
price on the bullion deposited.
This action would demonetize gold and
in one sense it would remonetize silver. It
would place both metals on the same basis
as money metals. This would give gold
its actual relative value as a metal of exchange and arrest its appreciation as the
only legal tender metal.
Gradually the certificates would come to
be used in making exchanges, especially
in making large settlements. The tendency would ba for the smaller exchanges
and purchases to be made in the coined
metals.
When gold had to be sent abroad to settle balances the certificates or their bullion
would go, instead of our coin, and thus
our supply of coin money would not be
lowered by a balance of trade against us.
Before a great while the stores would
announce in their daily advertisements in
the newspapers what price they were allowing for bullion certificates, and a customer intending to purchase on any given
day wonld be able to determine what price
he could get at a store in barter for his
bullion certificates. Trade would begin to
assume the form which it actually is, barter of a commodity for a commodity, instead of appearing to be, as it now appears
to be, an exchange of a commodity for
money. I believe that in time the use of
coined money would almost cease, as people came to learn that the 11 actuations between the two metals was not great nor
rapid; and that it was true, as is now supposed, that one day a certificate would
have one value, and to morrow another
and widely difierent value. There is in
fact no such rapid and wide fluctuation
between the value of the two metals where
both circulate side by side under identical
conditions.
This action would give us all the gold
and silver in the country as a circulating
medium. Neither would "drive the other
out."
It would throw upon the gold monorne-
taliststhe burden of the solution of the
problem, as it would be an implied declaration that the country had taken the first
step toithe demonetization of gold, and that
gold would remain demonetized until they
found a solution satisfactory to the country as well as to themselves. The chances
are that by the time they found a solution,
the country would have reached a point
where it would do without coined money,
and would transact its business by barter,
using the precious metals as a medium of
exchange.
The day that the bill becomes a law, gold
would begin to decline in price, for it too
would then be a commodity, and silver
would advance, until the two metals had
reached their natural relation in value,
and the relation would remain with few
changes, thereafter, and those the result
of natural and not legal causes.
What possible harm can come from a
trial of this plan? It deprives us of no
money which we have now. It involves
the Government in no chance of loss. It
involves the banks in no chance of loss. It
involves the mass of the people in no
chance of loss greater than they now have;
for if there is to be a loss, they in the end
must stand it anyhow. There is no compulsion about the circulation of the certificates, and if they do not pass from hand to
hand, and gradually work their way into
accep{ance, the plan simply ceases of its
own accord. And there is a chance that it
may open up a new method of transacting
business which may result in solving the
so-called money problemist. Louis, Mo. B. C. Keeler.
—The trouble with this is that, in fact,
"trade" is not and never will be even barter of a commody for a commodity, for we
sell some countries three to one we buy of
them, and coin is alone satisfactory to pay
balances and will be till swords are beaten
into plowshares and spears into pruning
hooks. The balance of trade should always be in our favor and will be paid in
agreed coin and not paper certificates. The
certificates might go well in domestic
trade, bnt with blockaded posts in war
and such disturbances as arise between
nations they would be worthless, just as
our bank bills would be. If all our trade
was domestic, deposited bullion would
serve perfectly as a basis of the paper circulated.—Eds.
The Hoad Question—A New Solution.
Editors Indiana Farmer:
I read with mnch interest the article on
the road question contributed by Albert
A. Pope. On first reading I rather liked
the idea, but the oftener I read and the
more I thought about it the less I liked
the succession tax plan he proposes. I
don't like the idea of imposing a burden
on one class of people to benefit another.
Mr. Pope's plan is to make a class who
seldom if ever use it improve a road for
the benefit of those who make a living by
its use.
If a man's parents or other ancestors
have prospered $1,000,000 worth he proposes to tax this man who receives the inheritance f 10,000, such tax to be used for
the improvement of the roads. The larger
the inheritance the heavier the tax. Isn't
that putting a premium on idleness and
carelessness?
It would be a nice thing if these millionaires would give each of us "hired hands"
40 acres of land and team and tools to work
it with. They could, but would it be right
to make them do it? Mr. Pope says "the
succession tax that I have proposed will
not fall on the poor. Those whose estates
amount to $10,000 can well afford to give
$100 to the State In return for all the protection of its laws which has enabled
wealth to be accumulated and enjoyed."
How many farmers are there in the State
worth $10,000 who are not already complaining of burdensome taxes? Yet he
proposes to add another $ 100 to their tax
list.
Again he says:   "The succession tax is
founded on the broadest principles of
equity." Webster defines equity as "justice impartiality." Is it impartiality to
tax a man $100 who is worth $10,000 and
let his neighbor worth $9,000 go free?
I have a plan (notorglnal) which I think
will enable us to have good roads without
burdening the rich, and yet will benefit
the poor. The plan is to let the Government Issue an amount of money sufficient
to improve the roads, say $500,000,000 in
greenback, black or any other, good for all
debts created in this country but not redeemable in gold or silver. When a bill
becomes mutilated let it be replaced with
another of the same kind. This money to
be divided among the different States to
be expended for grading, graveling or
whatever thoy may need. By this plan
more money will be put in circulation and
employment furnished for the hundreds
of thousands of idle men.
I think it would come nearer restoring
the "peoples' confidence" than anything
the present Congress has yet done. I will
issue no pamphlet but desire to hear from
others of a different opinion.
Fountain Co. Kolen Yerkes.
Insects in Foreign Grains at the World's
Fair.
Editors Indiana Farmer:
- While in Chicago a few days ago I visited
the Agricultural Building for the purpose
of investigating the wosvil in foreign
grains, about which so much has been said
of late. In the exhibit from Cape Colony,
South Africa, I found only a single species,
Calandria Oryzae, or rice weevil. It was
working in both wheat and corn. This
weevil seemed to be more widely distributed than any other as it waa found in
grain from New South Wales. In grain,
starch and sugar from Brazil; in wheat
from Mexico and rice from Slam. Another
very small red bettle was found in large
numbers in corn meal from Brazil. It is
closely related to our grain Sylvanus which
has done much damage in this State, but
it is much smaller and evidently prefers
flour or meal to the whole grain. The An*
gumois grain moth Gelcclda Cerealella was
also found scattered around promiscously
through the different exhibits. In the
Brazilian bean exhibit was found large
numbers of the bean weevil (llruchusob tec-
tun). The exhibits from Kussia and many
of the colder countries were found to be
remarkably free from all insect pests.
There are doubtless other species infesting these grains which were overlooked in
a hasty examination, but those named
seemed to be doing the greater amount of
damage. It will be noticad that all these
Infested grains came from a warm climate.
I am of the opinion, therefore, that they
will not prove very much more troublesome through the distribution of this
grain for seed, than many of them are already. In numerous instances sacks and
jars of grain, starch, etc , were found wide
open giving these insects the greatest of
freedom "to go out and possess the land"
if they felt so inclined. It would be well,
however, In order to guard against any
possible outbreak from this source, to
treat all of these grains before sowing with
bisulphide of carbon. If left under the influence of its fumes for twenty-four hours
it will destroy all insects in whatever
stage of development. J. Troop.
Lafayette.
of humanity usually accept unchallenged
any idea that is presented to them either
socially, politically or religiously. When
it is asserted that farming don't pay, all
who have not made a success of the business are ready to join in the same cry of
calamity. When It Is said that a farmer
has to work like a slave, all who work
hard and think little, concede the proposition." So I think when a paper like the'
Farmer asserts that the millionaire Is a
menace to society and to the prosperity of
the masses, too many will at once conclude
that they are personally wronged, because
it has not been their fortune (I will not
say good fortune because I do not think
immense wealth desirable) to amass millions.
The Declaration of Independence says
all men are created free and equal, so I believe anyone has the privilege of becoming
a millionaire, but all have not the talents.
It was the man of five talents that added
five more, and not the one of one talent
that hid it in a napkin that received the
masters approval. So I think if a man is
capable of making money he does wrong
not to do so. I do not claim that all millionaires are philanthropists, but I think as
large a per cent of them give according to
their means as the masses. -1 also think
they have as good right to surround themselves with "costly articles" as we are to
luxuries that do not cost as much, for he
cannot better put his money, into the
channels of trade. Justice.
—Our fair correspondent is right. Millionaires who properly earn or inherit their
fortunes and use them wisely are very
useful people. And it is no doubt true,
also, that as large a proportion of them
properly use their fortunes as there are of
other classes. The Bible reference quoted
by our correspondent is the true philosophy on this question. It is not the earning of large sums legitimately, but the
propei use that is criticised by this philosophy of life. . We personally know men
who have become very wealthy by invention, by good business management, good
judgment, industry and frugality, and
who have become a great blessing to society.
Bight to Become Millionaires.
Editors Indiana Farher:
Referring to your paper of 30th of September in an article on taxes, I find a paragraph where you say almost every village
has its shylock. You use it where you
say some would have to borrow money to
pay their taxes.     '
In the report of the Salem Farmers' Club
Mr. Elliott expresses the very idea that I
wish to convey when he says:   "The bulk
Salt and Gypsum on Wheat.
Editors Indiana Farmer:
When is the best time to sow salt and
land plaster on wheat? How much should
be sown to the acre? Does it pay to sow
'hem? j. j, s.
Pyrmont.
—About 800 pounds of salt and 600
pounds of land plaster, or gypsum, per
acre are the amounts generally used. We
do not know of the two minerals being
used together, but plaster alone is very
beneficial, especially to clover, and salt
sometimes increases the yield and quality
of wheat considerably. In Prof. John B.
Lawe's experiments he found in one case
that 330 pounds of salt per acre gave but a
mere trllle better result than was gained
on an acre along side without salt, but at
another time the salted plat gave a bushel
and a half more wheat. At still another
sowing, however, the salted plat seemed
to be damaged by the application, as it
gave a less number of pounds than those
unsalted. Gypsum applied at the rate of
000 pounds to the acre has been known to
Increase the yield of grain by 33 per cent,
but, as stated, its greatest benefit is found
in increasing the yield in clover, which on
most soils is itself our best fertilizer. Fall
is usually considered the best time for applying either of the mineral fertilizers
named, Let us have the facts on this subject by any readers who have had experi-
F. E. Walker, of Denver, Colo., in alighting from a train at Pendleton, stepped on
a banana peel, which threw him. In the
fall his thigh was broken.