THE NATIONAL ALLIANCE. 12 7 



and deposit with the government bonds which represent national 

 indebtedness, which the government holds in trust, and issues to such 

 corporation paper money equal to ninety per cent of the value of the 

 bonds, and charges said corporation interest at the rate of one per cent 

 per annum for the use of said paper money. This allows the issue of 

 paper money to increase the volume of the circulating medium on a 

 perfectly safe basis, because the margin is a guarantee that the banks 

 will redeem the bonds before they mature. But now we find that the 

 circulation secured by this method is still not adequate ; or, to take a 

 very conservative position, if we admit that it is adequate on the aver- 

 age, we know that the fact of its being entirely inadequate for half the 

 year makes its 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 volume means 

 great fluctuations in prices, which cut against the producer, both in buy- 

 ing and selling, because he must sell at a season when produce is low, 

 and buy when commodities are high. This system, now in vogue by 

 the United States government, of supplementing its circulating medium 

 by a safe and redeemable paper money, should be pushed a little further, 

 and conducted in such a manner as to secure a certain augmentation of 

 supply at the season of the year in which the agricultural additions to 

 the wealth of the nation demand money, and a diminution in such 

 supply of money as said agricultural products are consumed. It is not 

 an average adequate amount that is needed, because under it the great- 

 est abuses may prevail ; but a certain adequate amount that adjusts 

 itself to the wants of the country at all seasons. For this purpose, let 

 us demand that the United States government modify its present finan- 

 cial system, 



1. So as to allow the free and unlimited coinage of silver, or the 

 issue of silver certificates against an unlimited deposit of bullion. 



2. That the system of using certain banks as United States deposi- 

 tories be abolished, and in place of said system, establish in every county 

 in each of the States that offers for sale during the one year $500,000 

 worth of farm products, including wheat, corn, oats, barley, rye, rice, 

 tobacco, cotton, wool, and sugar, all together, a sub-treasury office, 

 which shall have in connection with it such warehouses or elevators as 

 are necessary for carefully storing and preserving such agricultural prod- 

 ucts as are offered it for storage ; and it should be the duty of such 

 sub-treasury department to receive such agricultural products as are 

 offered for storage, and make a careful examination of such products, 

 and class same as to quality, and give a certificate of the deposit show- 



