The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1874-09-24


utiye, andin addition thereto, enabling
them 10 continue their deprelallpnH
upon The people NJ the state.
A powerful corporation lenl hllell
characters valuable assislauoel and des'
mite tho ellbrls NJ The government lnl
Inc hopeful OullOOk ~ lhellme the Let.
ler was written, the "hundred days
came aud went hnd no money hAd
found ~ way intO the treasury,
Nav, that The financial problem y
about solved, tho holders NJ the old
warrants paid Ia full aud Stale erelll
in Texas about NJ par, u may h0l bp
amlsa 0r lnlnlereHllng " our fehlefa
Ia rceur IA tho eventual daye NJ last
winter aud spring, aud 10 review The
actions Of tho government anu The mo-
lives 0f Oilolnls, which, Perhaps were
mol easily diylnrd NJ the llne,
When Governor Coke llral assumed
tho rplgiH Of government lip lnllh
state warrants standing nt my 10 HlAly
cents on the dollars This necessarily
involved u double price for everything
the government had 10 buy, aud such
had been the situation for Two yenlh
then past, Not only was The state sub
leGted 10 this 0nerOlla burden, hut loii-
esl creditors Of the Htale--her servants
and officials and soldiers on the lrOn'
tler-werQ forced bY hard Necessity 10
sacrifice tile NtAle's promises W pay NJ
this rulnOuH discount IN order 10 buy
their bread. A gang Of plundorerh had
organized about Austin, nnd were pul'
eulng their noiarloua traffic In the
most shameless manner, buying rom
the honest creditor, hla state paper ~
MY cents on the dollar, aud lnniedl-
Ntcly thereafter combining with some
sheriff, also on the ''makc," aud cash
ing II out Of state money In his hands,
OF course this gang did not want state
credit " 70 NJ par or course tlioy
wanted the governor 10 full In his NJ
tempt 10 place the financial operations
of the government upon u cash basis,
aud, of course they left no stone un-
turned 10 defeat his attempts 10 protect
the credit aud people Of tho state,
Governor Coke WIS aware Of all tlllA,
lie was aware Of the opposition already
combined against him, aud of the
possibility of their defeating him. He
WIS also aware TINT II would take time
To have bonds OF the state engraved
aud placed upon the market, nnd the
proceeds remltied 10 the treasury, yet
ho knew that each day the dopreda-
llons on our people were constantly go.
Ing on. Zach day honest creditors OF
the state, impressed by those sharks
with the Idea that the state was In
solvent, and would not be able to pay
the warrants for years, were sacrificing
their interest by u sale Of these bonds
ut n discount, and, M was his duty, he
determined to do what he could In mr.
resting the evil, even II the attempt
should rebound 10 his personal Injury.
While the hundred days promise was
based upon information, which Gov
ernor Coke believed fully Justified him
In making the promise, we know Gov
ernor Coke too well not TO know that
nj the time of lndlcting II he was aware
of possible failure. We happen to
know the object and purpose Of this
letter TO have been To save the honest
holders Of the state warrants, who had
worked for and earned the money,
from being victimized by u pow
erful combination, who, by every
means and artillce, Were dlsparaging
aud depreclatmg their value In order
that they might buy them up and
make II rich speculation. IL was writ
ten in the interest of the mass of the
creditors of Texas, to save them from
being plundered, and to foil the neta-
rious scheme of ring. That this let
ter accomplished the patriotic purpose
for which II was written the sequel
abundantly shows. II strengthened
the weak and needy creditor, and gave
him new hope OF the states willing
ness and ability to pay. Warrants
that were hawked about the streets of
Austin at sixty cents. rose ut once to
ninety cents, and never receded back
further than eighty again. Operatives
In state paper became f9v and far be-
tween, and creditors held ON to state
promises, encouraged with the conf
dent belief that the state would soon
pay. We think we do not exaggerate
IN the least when we assert that this
letter saved TO the people OF the state
at least two hundred and fifty thous-
and dollars, of which they otherwise
would have been fleeced by this ring of
money sharks.
The policy the Legislature saw fit to
adopt was not entirely the governors,
and it was not necessary that he
should have assumed a responsibility
for its failure. He could have pro-
ceeded in good faith to execute 1t, in
the best manner possible, maintaining
all the while profound silence, and
allowing the people of Texas to be de-
ceived and plundered, and no jeer
would have come from warrant shark,
radical, or recreant democrat. But in
this, as in every instance, he chose the
manly part of duty, and sunk self out
of sight.
Standings the chosen protector of
the peoples rights and interests, he
dared in their interest alone to risk
defeat and misconstruction. That he
has succeeded, spite of almost over
whelming opposition, is cause for con-
graduation ON the part of every good
citizen aud patriot, and this class,
which c0mposes the mass Of the peo-
pie of Texas, have recently manifested,
by universal endorsement, their high
appreciation of the firm integrity and
wise craftsmanship of Richard Coke,
the incorruptible Tribune OF the peo-
pie.