davidaulloa/AmericanStories huggingface dataset:
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02

best banking institution in the world can
not stand a systematic and unceasing run
apon its cash, md this giving ont is by no
means an evidence that the institution is
broken.
The present troubles win not last great
while, nor win they prove a serious damage
70 the country. One or two hundred bank
ers' and brokers establishments will 60
thoroughly by the board, but the great
money centres will remsin mistaken as soon
as an excited popuIace ind time 70 think.
The same amount Of money is in the
country as before, and in a very short while
there viii be a great deal more. The hun
dreds Of thousands Of people in Europe who
look to America for breadstufIs and raw ma
terial for manufactures, cannot afford to
stand in a state Of passivity, and sec panic
stricken people on this side Of the Atlantic
lock up and hide away the circulating
medium which should keep open the
channels Of trade for their relief. In fact,
the intelligence has already reached us that
large shipments Of money are being made
from Europe to be used in purchasing and
moving cotton and breadstuffs. It is only
necessary for the people of the South to
keep cool, act with discretion, and give
those upon whom they depend for money
sufficient time to meet their liabilities. Our
people arc not interested in bonds nor are
our merchants and bankers, and it is among
this class Of spectators that the late fail
ures have taken place. The house Of jay
Cooke & Co. was pet of the Grant gov
ernment, did much Of the dirty work Of
that concern, and so it was directly or in
directly with most of the others that have
failed. They were such houses as were in
the transactions Of Black Friday and in the
infamous Credit Mobilier swindles. The
leading houses that have suspended were, in
fact, nothing more than creations Of the gov
eminent, and it is not at all strange that the
result should be as it is, since the magnif-
cent benefits they received were only Sc
cured through the distresses of the people.
The failures are by no means consequent
upon an uhuuV iheicdhtlie expansion, ana
are altogether attributable to the
wild speculation in railroad securi-
ties under cover of tho government
Let us look upon all of this trouble as
lesson TO be seriously contemplated. Presi-
dent Grant was in close consultation with
jay Cooke just upon the eve of his failure,
and during the whole of his Presidential
career he has been the prime mover of the
corrupt syndicate that has taken control of
the Federal government.
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02
PARTIALITY.

After the death of the Hon. Lewis
Frankee, German Democratic member of
the Thirteenth Legislature, from Fayette
county, whose tragical end is stilla mystery,
the Legislature voted, hardly with dis
senting voice, that his farnily be allowed
pay for the full term of the Legislature
The bill went to the Governor, who refused
to give it his individual sanction, but it
became law by constitutional limitation
His objections to this bill were only equal
by the readiness with which he signed one
of a similar nature in favor of the family of
Dupre, a negro member of the Twelfth Leg
islature The one was a Democratic German
while the other was Radical negro. We
hope Germans will mark the difference, and
understand how much justice is in the COM
position Of e. J. Davis
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02
PLATFORM or THE DEMOCRATIc
PARTY OF TEXAS.

We, the Democracy OF Texas, in Conven-
ton assembled, relying on the virtue and
intelligence Of the people. again declare our
principles and policy, and ask for them the
popular approval. And
l. We declare our adhesion to che time
hcnoTed principles Of the Democratic pnrtv /:
our devotion to popular liberty regulated
by law; and to Constitutional government
simple in machinery, and to be be admin
Uttered with the strietest economy.
II. We congratniate tile people Of Texas
on the repeal by the Thirteenth Legislature
of a number Of the oppressive, odious and
unconstitutional acts, passed by the Twelfth
Legislature, in pursuanee Of the Radical pol
icy to overthrow the government Of the
people, and among which acts were
1. The Militia Law, whereby the Cover
nor was authorized 70 suspend tie writ 81
habeds corpus and establish martial law,
thereby depnving tie citizens II ali legal
and constitutional protection. and subject
ing their lives, liberty snd property 10 the
unrcstraincd caprice and nlaligaify Of a
partisan Executive.
2. The Police Bill, designed and intended,
among other things, to create q system Of
secret espionage BY hired infomers, upon
the people; ~ war with the principles Of
CIVIL iiDeTLys oal0a3 10 tit lrecNlInf anu
heretofore tolerated only in the desp0tisIE
Of the. old world, and the execution 81
which Set was for the most part entrusted to
a class Of men 81 degraded and infamous
character
3. The Euabling Act, under which tie
Governor vas authorizcd % appoint district
attorneys who were made elective by fhe
Constitution; 70 appoint ail municipal oli-
cers, and 20 iiil aIl vacancies tllal might
occur ID the Offices 81 CLERKS aud siien1s.
thereby designediy bestoHing "a him greet
power and patronage, 70 enable llim foc0n-
tinue Rodieal misIuie over this people
q The registration and election ls9s
which were framed sud intended for ne
purpose Of preventing free and fair cleo
lions, they openly encouraged the pcrpt-
tF1tion % frauds - dcfeaf tie eiII 81 the
people. and - perl,efnase Radical nis7'lo.
presenting 70 ouf people tie exfranrslin8ry
and lrnlili1fing Spectacle ~ Aigr0nndinr
The places q reei1tsalion aud vtfin2 with
81 armed partisan police With liell e ia-
timidatc and ort1aac ffe citizens
3. Tie acf relating - public free scIools
which, among manf other bad features
provided the .oears n cnaIlIug public on
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02

WE cannot complain Of the public about
giving patronage to the STATESMAN. On
the other hand we have to thank host of
friends for the most substantial good will,
and We believe they are willing to give
US more encouragement. The next few
months is the harvest time for newspapers,
and patrons who will take little trouble
to get us subscribers, can do us great deal
of good. There is not one of our readers
who cannot get us one or two or evenmore
subscribers with a very little effort, and
such additional subscriptions will increase
our ability to do good, and enable us to en-
hance the worth of our paper.
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02
The Press on the Financial CrasI.-Rc-
mote Causes of the Panic.
[From the New York TrIhnne. ]

Before we apply desperate remedies, we
should understand the nature of the disease.
We have maintained and still insist that an
initiation of the legal tender circulation is no
cure for the malady which afilicts us. This
will appear if we go back and examine into
the remote causes-not so very remote, after
all-which have produced the present state
of things. We are bound to suffer for our
follies. Initiation may postpone for a short
time the day of reckoning, but the day will
surely come.
The trouble with us is our immense mass
or Indebtedness, both foreign and domestic.
It must never be forgotten that by far the
larger part of that Indebtedness is the di-
rect effect of the imitation of our currency.
The payment of debts has always been
found troublesome, yet it is the only honest
way. of getting rid Of them. Privation and
suffering must be endured. or the money
cannot be saved with which to make the
necessary disbursements. And now let US
calmly consider how we came to be so much
in debt, and take look at tine ledger.
In the first place we will glance at our
Indebtedness. From the year ended June
30, 1868, to the year ended June 30, 1873,
our imports rapidly and steadily increased
in value as follows:
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02
Austin, San Antonio and the Interna-
tiOnaI Railroad.


We publish below the correspondence be-
tween citizens Of Austin and Gen. J. w
Barnes, Vice President of the international
Railroad Company, by which it will be seen
that a movement is on foot looking to the
oos,s8 -s..sa;--, a,A----s.,l 70 Anstin within
the next twelve monJirs =
that San Antonio Is also moving in the same
direction. The citizens of those two inte-
rior cities are alive to the importance Of
railway communication to their future pros
perity, and instead of endeavoring to ham,
per and control the railroad companies offer
ing to build roads to them, they give large
subsidies to the companies to enable them
to build rapidly. San Antonio voted $780,
600 to the Pierce road, and will vote as
much more to the International. We hope
that the road from Galveston to San
Antonio may be completed first, for we fear
that if it is not, the trade of that city will
be diverted from Galveston.
With the exception of companies rcceiv-
ing large State and local aid, railroad build
ing has come to an entire stop; roads have
been built so far beyound the requirements
of production and population, that we are
now IN the midst Of p financial panic more
widespread and disastrous than any since
1857; we are as yet only in the beginning OF
it; where it will end no one can foresee. In
this State these failures affect us compare
lively little, except in the one direction
that Of works of public improvement, re-
quiring the expenditure Of large sums Of
money. No part of the railroads completed
in the past year have earned more than ex-
penses, consequently there is no surplus for
dividendsior for the payment Of interest on
the bonds of the companies
In fact, there is but one road in the State
the stockholders of which Faye any cause
TO be iubilant over the report Of earnings
for the past year. The tide OF immigration
flowing rapidly into the State will, we hope,
soon change this and give to the stockhold-
ers, at least, a fair rate Of interest on their
investments. ~ Gal0eSt0a Commercial.
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02

THE Graphic Company and Prof. Wise
are waging a fierce war about the balloon
project. Prof. Wise charges that the COM
pany acted in bad faith:and constructed the
balloon of poor material and not according
to his direction. On the other hand the
company says that Wise was incompetent to
take charge Of such an enterprise, that he
had no scientific attainments and was trying
himself to make money out of the trip by
charging Houghton $500 to make the trip.
The Graphic Company is determined to
carry out the scheme of the Atlantic voyage
and win with all possible dispatch construct
a more perfect balloon.
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02

THE Houston Mercury, though it has not
avowed itself as Democratic paper, is at
present standing squarely up to the nomi-
nations of the Democratic conventions.
We know Baker well, have always been sat
isfed that he had no RadicaIism in his
bones, and the change of base in his paper,
so soon as he relieved himself of an objec-
tionabIe partner, did not surprise US in the
least. lie is Democrat at heart, and we
cordially welcome him as a co-worker within
our ranks. The Mercury has paid many
high tributes to eur most worthy standard
bearer, and we will candidly say that its as
sertions will have a large influence in the
coming election.
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02

we are selling very cheap t) because the
English have experienced y tremendous rise
in prices and we are not able topay for their
wares; 20 the English, being already some
what in trouble from short crops, labor
unions, scarcity Of coal, etc, and foreseo-
ing great deal more, are drawing in and
refusing 10 buy our securiues as they have
been doing for the last five OF six years.
Now our farmers are already in trouble be-
cause we have been selling their stuff so
cheap. The English are getting more and
more in trouble every day, and We, in the
great cities. expect TO be as prosperous I"
and eNtravagant as ever.
All we need, the doctors tell us, is a little
more green paperi Not 50. We must come
down to bread and water and pay our debts.
We have no choice in the matter. We must
continue to send OUT OF the country more
valuable things than we bring into the
country until John Bull gets on ms legs
again. John Bull is sick, and the farmers
are sick, and the trade of peddling railroad
bonds is annihiated. Will Mr. Richard
sons greeubacks repair broken china, or
enable John Bull to give our farmers more
for wheat That is the question. The re-
verse we have met with Is simply the be-
ginning of the inevitable transition from
prosperous TO pinching times, and brandy
will do US no good.
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02

TIE Houston Telegraph of the twenty
seventh of September, publishes card
from Col Charles Stewart, in which that
gentleman positively declines to allow his
name to be used as a candidate from the
Harris cousty district for the State Senate.
It seems now that Col. W. r. Baker will
be the nominee of the Democratic party
from that district The Withdrawal of Col.
Stewart one Of the strongest men in Harris
county is, to say the least, very magnani-
nous on his part. The party will be
thoroughly united.
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02


CSC. Stedman, the poet, who has long
been broker in Wall street, gave the fol-
lowing views on the situation 70 a IribWae
reporter yesterday afternoon. The present
trouble dates back to the time when Secre-
tary Boutwell, tried to fund his loan from
six per cent. TO FIVE per cent This was in
1871. Prudent men said it could not be
successfully done, and they were right.
Boutwell, kept money easy for five or six
months in the effort to get the people 70 take
his loan; but instead Of funding his own
loan to any extent he enabled small houses
TO float private railroad loans, and enabled
large houses to expand. We should have
been back 10 specie payments but for these
railroad bond spectators. We have been
working back to it several times, but hard
times came on, and government wouldn't
allow it. They put out money to relieve
the spectators. The failures have been con-
fined to the houses started during and since
the war There has been a great western
railway expansion. and the bubble has
finally exploded, as it was bound to do,
sooner or later. We have known that the
crash was coming, but l didn't expect il
this fall. There is no true reason why the
trouble should extend to the meican-
tile world, and it can only do
SO through sympathetic process.
The losses will fall chiefly on the speculat-
ing firms who have done everything to re-
tard the resumption of speciospayments for
years. If the government will sit still and
let them fall, then we shall be long way
advanced toward specie payment. The fact
is that this is the severeSt blow that the adj
ministration has ever received, us it Is the
direct result of the policy of the govern
ment which has been one of initiation when
ever the administration was likely to be UNI
popular from hard times The break has
not surprised any one who knew how bust
ness was transacted Brokers have been
able to buy the bonds of the new roads five
or ten per cent. less than the Advertised
rates, at which they were furnished to pri-
vate persons purchasing for investment.
This was the case with the jay Cooke bonds
the Northern Pacific, the Oswego and
Midland, and most other railway loans. 1t
was not so with Fisk and Hatch's roads.
Their bonds were good and they believed
in them. This panic is different from any
that has occurred since that of 1851 That
was caused by undue mercantile expansion,
and this by railroad expansion. One thing
is certain; it has cured the disease. There
will be no more lending of large amounts
on new railroad enterprises and when the
wreck is cleared away, there will be a
healthier condition Of things than there las
been for years past.-Aeso York Tribune.
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02

Co,NoDoRE VAxDERBLT has proposed
to supply ten millions Of dollars towards
relieving the financial crisis, provided The
United States Government win supply
thirIg millions towards tho same purpose.
It is claimed that forty millions is all that IS
needed to save the country from financial
ruin, and We think it would be wise aud
proper for the assistance to be rendered.
Unless relief comes speedily the damage
viii be far more than at present can be com
puted. The forty millions would bel but an
advance upon good securities, which would
stop all disorder at once. The offer Of
Vanderbilt is a noble one, although the
amount he proposes to extend is rather
small.
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02

THE Democratic nominations FOR the Leg
islature from the First District have been
made. Capt. E. H. Hobby, Of Tyler, was
nominated for the Senate to ill the place
Of the Hon. E. B. Pickett He is a young
lawyer, doing well in his profession, and is
a gentleman of marked ability and integ-
rity. Mr.. James B. Simpson, of Liberty,
Mr. P. S. Watts, Of Hardin, and Capt. Dan.
II. Tripplett, of Orange, are the nominees
for the Lower House of the Legislature.
All of these gentlemen are accomplished
and able and viii do their district credit in
the next Legislature. The first district has
many able men, and is always sure to select
some of them to go to the Legislature.
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02

THE Germans will remember the service
they received at the hands of the Demo-
cratic party during the Know Nothing con-
test. Had it not been for the manly con-
test on the part of Democrats in favor of
maintaining the rights guaranteed to for
eign born citizens of the United States by
her Constitution, not one-fifth of the Ger
mans now in Texas would have even pos
sessed the right to vote.
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02

Tine Journal is still on the Sam Houston
strain, forgetful that it has no friends
among the old hero's friends, and that were
he still alive, he would never permit It's CO.
terie to use his name in connection with E.
J. Davis and his miserable clique. Sam
Houston loved Texas, was the enemy of its
enemies, but during his glorious life he
never met with such as she has had to en-
dute in the persons of the bands of Radi-
Gals who have warred against its most vital
interests Tor The last four years.
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02

LAST night we received the melancholy
intelligence that heavy fire had occurred
in the early part of the night at Brenham,
resulting by eleven o'clock in the destruc-
ton of three business blocks. The dam
age is estimated at about $5OO,O The
fire was still burning at the above named
hour. A heavy wind was prevailing from
the southeast.
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02

THE Journal complains that boy, Ed
win NJ. Hobby, had been nominated by the
Democracy as = candidate for the position
lately occupied by Hon. E. D. Pickett in
the State Senate. Hobby is a good name,
and we predict that the "boy" will beat any
mar the Radicals may attempt to put
against him.
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02

THE Journal reports Governor Davis as
making fine progress in his canvassing tour,
and is surprised beyond all measure at re-
spectacle people turning out to listen to
him. We have seen great many re-
spectacle people turn out to sec Barnum's
"nondescript.n
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02

Tux Governor Of Louisiana has asked the
Galveston authorities to raise the quarantine
against New Orleans asserting that there is
no occasion FOR it, since yellow fever is on
the decline, and has not been epidemic at
any time this season. It certainly is doing
the State much damage for the quarantine
to be kept up, and We hope the authorities
at Galveston win Immediately remove tho
aunrantine.
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02

To the imports should be added large
toll for the use of British ships At the
beginning Of 1867 we were already heavy
IL debt to Europe, 50 that to tha round
three hundred millions We have run behind
since then must also be added each year q
large additional sum for interest.
Let Us now consider our domestic debfs
The nation and most Of the Northern States
have considerably diminished their debts,
but the good effect Of this has been more
than counterbalanced BIZ the reckless In
crease in the debts Of cities, counties and
towns, and the layislness with which public
money has been appropriated for al pur
poses a. government. Next. we have I'd
notice tremendous increase in the bonds Isl
sued BY railroad and other corporations.
Then comes mortgages on farms and other
real estate, many Of them dating back 10
var times Finally We have loans and dis
counts Of the National Banks, 81 which the
record IS Startling They were ia
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02

THE Radical County Convention met on
Saturday during the day, and nominated a
county ticket We were surprised to see
the Journal so much ashamed of the nomi-
nations as not at once to put them before the
public. a little breathing spell, however,
and it will be whipped in. 1t will be com
PEELED to support them
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02

WE are glad to note that Capt. J. D.
Stephens Of Comanche, has received the
unanimous vote OF his county convention as
candidate for the Lower House o. the Leg
lature. We have known Capt Stephens
long, and can assert, without reserve, that
he is honorable, high minded and true.
The Gainesville Convention cannot do better
shan to nominate him, and we hope it will
L.. -.
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02

Jules CoKE's ArPoIST,iESTs- r Judge
Coke win address the people Of Texas upon
the political Issues of the day at the follow
ing times ard places:
Alexia, Wednesday. October l.
Corsicana, Friday, October 3
Atlas saturday night. Octobert
Mckinney, Tuesday, October
sherman. Wednesday. octol,er &
Baritone. Friday. October 10.
Paris, Monday. Octol,cr Is.
Ciarks7ille, WEDNESDAY. October IS.
Otter appointments VIII BE snnouncs.l l.e-
fore the above are concluded
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02

THE Radicals have ignored the negroes in
the county nominations. They are consid-
cred good to vote, but very poor for the
spoils. The white trash are decidedly too
greedy for discretion.
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02

AT a meeting Of the stockholders Of the
International. held at Palestine the other
day, they declared themselves in favor Of
consolidation. The stockholders Of the
Great Northern met in Houston on the
twenty-seventh, and their action was SINH
lar. The two companies therefore become
one
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02

TIE present resident population of
Shreveport is about e4OO, one-half of
whom are either destitute or sick. Such a
condition of affairs should elicit the SYM
pathy and charity of every one who is able
to afford the least assistance.
The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1873-10-02

TneaE arc several prominent genticmcn
ii tic Galveston district Tor state senator.
Jodrc Franklin. Sir. r. 6. Street. Dir.
August Buiiar 81 Galveston, and Judge
Alonson. Sc Blszoris are spoken Of Any
Of them n6ola ga TIC position with honor.