Full Text

Subtreasury Plan


Subject History

Place Northern America » United States of America

DOI: 10.1111/b.9781577180999.1997.x


Extract

Supporters of populism first proposed a Subtreasury Plan in 1889. It would have allowed farmers to store their-harvest at federal warehouses during periods of low prices, and to obtain federal loans worth 80 percent of the crops' market value. The plan's intention was to enable farmers to keep commodities off the market when prices were low, and support themselves with loans until they rebounded. It was well suited to cotton, which did not spoil in storage, and was most popular among southern Populists. Its main features became law in the W arehouse A ct. ... log in or subscribe to read full text

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