The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1875-08-05
\ ST IsiBLE LETTER F6OG 4 WISE
TEXAs.

One os the sbrewd & business meni nav !
ing the clearest head that distinguishes the
rare body of representatives. Of Texas
in New York. saws: THAT the convention
should prepare cue way for some general
nlau of utilizing the land belonging to IN
d,yiduals and corporations and making it
basis of credit, enabling the people of
Texas to borrow money at low rate of in
terest for the development and improve
meat of our State, thereby enabling our
people to share in the profits of such devel-
opments instead of waiting the good pleas
ure OF foreign capitalists to come and take
these advantages away from Us. We have
the best security in the world for all the
money we need. Why not utilize it By
some enabling clause in the States organic
law There are several things necessary to
this end. First, The State should rigidly
enforce the prompt execution'of contracts
and allow no one TO escape from such com
pliance with anything more than his meek;
IN a word, Texas should declare in the
most authoritative manner, that all the OBJ
legations of the people of Texas shall
be fully and justly met; so that the
credit of Texas and of Texans shall stand
above suspicion at home and abroad. This
implies the abrogation of all unjust and sell
fish acts enabling an Opulent debtor to
avoid the payment of just debt. The
homestead act should be modified so that it
may not enable man, by taking advantage
of it, to rob innocent creditors. Wuep good
faith and credit shall have been established,
let the legislative power be left free from
constitutional restraint to adopt and en-
courage such plans of public benefcence as
the wisdom of the country may suggest for
the purpose of supplying our people with all
the adventitious aids of progress and pros
perity known among most civilized nations.
At this hour more than one hundred millions
of money are idle in Europe, and simply
because confidence in American securities
has been lost. If wise legislation distinguish
the action of the coming constitutional con-
vention, vast sum may be drawn into Texas
from Europe. If the legislation of local
l
and proper officers were chosen, we could
get money at very low rates of interest, and
all that is needed to build needful bridges,
roads and public buildings. Give us good
laws and liberal constitution, and pro-
tect towns and counties against those who
have destroyed our credit at home and
abroad, and each citizen can borrow on his
land for five or ten years, at low rates of in
terest, enough money to improve it. But
we can never thus borrow cheaply till we
have laws that compel absolutely certain
payment. Have NO lodging behind bills
in chancery when payday comes, and we
can get upon bond and mortgage the cheap
est money that ever blest progressive com
munity."
1t may be observed that while an unusual
degree of practical wisdom distinguishes
the writer of this letter, it is plain enough
that he happens to occupy the attitude of q
creditor and contemplates the masses Of
people as debtors. He does not say SO, but
we are almost persuaded that he would
not only modify but repeal the homestead
exemption act. Women and children, wher
men in this age of bad morals and extrava
gance dare to take wives and have families
to maintain, should be protected against
ultimate penury. A home and shelter should
be secured to those whose toll has aided il
winning 1T, and if men speculate upon thu
husbands honor, knowing that the home il
execution-proof, no wrong is done thu
lender, and the borrowers wife and children
are not made victims of his crime or follies