THE SUB-TREASURY PLAN. 351 



"' SENATOR MAXEY. When we made an appropriation in the nature of a loan to 

 the Centennial Exposition, in 1876, we gave a million and a half dollars, and there 

 was no objection to that. 



" * SENATOR GARLAND. The bill has undergone the scrutiny of the entire Com- 

 mittee on Appropriations, and long and tedious investigation, and the Senator from 

 Missouri [Mr. Cockrell], who is acute and alert as to these matters, has given it his 

 careful attention, and he reports that it is perfect in this respect. The United States 

 is in no danger in reference to getting back this million of dollars. 



" ' SENATOR MAXEY. I suggested to the Senator from Kansas [Mr. Plumb], when 

 he was on the floor, that we had loaned to the Centennial Exposition a million and a 

 half dollars. 



" ' SENATOR FRYE. I would be for it, if I knew the Exposition would not pay 

 a dollar back. 



" ' SENATOR MILLER. I would rather vote for the bill as it stands, loaning a 

 million dollars, than to vote $500,000 as a gift. 



" ' SENATOR ALLISON. We have restricted, so far as it is possible to restrict, the 

 expenditures preparatory to this exposition, to the subscriptions, and to the amount of 

 this loan. 



" SENATOR ALLISON. I move to amend the title so as to make it read, " A bill 

 to make a loan in aid of the celebration of the World's Industrial and Cotton Ex- 

 position.' " 



" The opponents of the sub-treasury plan have assumed that it was visionary, 

 impracticable, and unconstitutional. The friends of the measure have endeavored to 

 show the reverse as being true. That it was well considered before given to the 

 public is no longer denied. That it is practical, or with some modifications as to 

 detail can be made practical, is being discussed in a manner that leaves no room for 

 doubt upon that point. As to its being strictly within the limits of constitutional 

 law, the amount and character of the evidence given in this article upon that portion 

 of the question must be considered by all fair-minded persons as absolutely con- 

 clusive. 



" What more can the friends of this measure do to obtain the assistance of those 

 senators and representatives who prefer, and no doubt feel an interest in, their 

 farmer constituents? The last valid objection is now removed, and nothing but 

 details remain. It is earnestly hoped and expected that all captious objections will 

 now cease, and an honest effort be made to give the measure a fair trial." 



In conclusion, let us consider the cost of the experiment. 



The grain crop of the United States, for the year 1889, amounted to 

 2,660,45 7,000 bushels. At least two- thirds of it will be retained at home 

 for consumption. This will leave 886,819,000 bushels that will be stored 

 during the year. 



These crops mature at different dates of the year, and the demand 

 for their consumption is evident. It is, therefore, safe to say that not 

 more than one- third of the whole amount will be in the elevators at any 

 one time. This will amount to not quite 300,000,000 bushels. It is a 

 well-known fact that those elevators will not cost exceeding fifteen cents 

 per bushel. This amounts to $45,000,000. To be liberal, we will say 



