The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1875-07-29
HOW TO SETTLE FATAL DEMO-
CRATIC DIFFERENCES OF POLICY
AND OPINION.

cial organ of the bondholders demands the
"pound of flesh." is it wholly improper
that Texas, Arkansas, Kentucky, Tennes-
see and the Gulf States should set up a
countervailing exaction Payment at par
in gold OF two thousand millions of bonds
that cost the holders from thirty to seventy
cents in paper is the Worlds sine qua non
May not these eight States, having perfect
unity of interest and of right, also declare
for the concession asked by the Southern
Pacific road as a sine qua non? If this be
not granted by the Democracy-if Thurman,
the worst enemy of this Southern Pacific
Railway, be made the exponent of bond
holders exactions, and of hostility to the
Southern Pacific, and of the creed of the
Democratic partY-these eight States, whose
very existence is involved in the construc-
ton OF Southern transcontinental road,
should have presidential candidate of
their own. Thurman and the World would
force us to accept financial scheme that
plumbers and provincializes the South for
ever, and enriches and aggrandizes Wall
street even as the foreign insurance business
has robbed the South to poverty and paved
the by-ways of Hartford with gold. The
South sends North annually not less than
fifty millions to pay life and fire insurance
premiums. The interest on the golden
funded Federal debt, at five per cent, will
be another one hundred millions, and. this
sum we alone of the South and West, while
the tariff system subsists, are to pay as the
tribute due the generosity of Thurman and
Of the World 1t costs too much 1t is
practical slavery for ourselves and children
forever. We want a sound currency; but
this that we have Is made unsound by gold
spectators in order to drive us to accept
ance of the Worlds and Thurmon's terms
the terms defined by the selfish specializing
bondholders. They depreciate paper by
demanding gold in payment of duties, and
buy and hoard gold, the government CO.
operating with the remorseless bondholders
to destroy the credit of the currency and
heighten that of gold. The conspiracy ex-
tends to the banks, and involves the press
and politicians, and all these have con-
spired against the honest toiling people of
the West and South. They promise US
peace and freedom, and even local self
government, if we will accept the PROPOSE
ton to become toiling serfs of the bond
holders forever. We approve the creed of
Democracy. 1t involves the freedom of
States and these, free, ever concede abso-
lutte freedom to municipal governments, and
in this consists the sublimest and truest de-
velopment of republican freedom. Giving
US this, ordinarily, Democracy would give
all the people could ask; but coupled with
the Worlds exposition of true Democracy,
to be unfolded in the future condition of
all the States, comes the demand for the gold
of ell these provincial Southern and West
ern commonwealth. The price to be paid is
not more than ''local freedom" is worth, and
IL we must pay it let us demand, as condi-
ton precedent, a simultaneous concession
to the West and South, which Thurman
and the World have persistently inveighed
against. Let us be assured that while we
are annually shipping one hundred and fifty
millions of gold from our cotton and corn
and wheat fields, to pay the golden interest
ON these bonds, and for life and fire insur-
ance-let us be assured that at least fifty
millions of this sum will flow backward in
10 the South to create the Southern Pacific
and international railways. A fair trade is
no robbery. Lend us at least one-third of
the sum expected from us in one year.
Then our ability to pay the collaborating
bonds will be doubled and the strenuous
ness Of our objection to the selfish, grasp
ing. ruinous policy of the East may be ma.
terially Modified. Fifty millions of govern.
ment wealth expended on two Southern Pa
cific roads would so enrich these States, SO
aggrandize our cities, multiply our farms
and population, that, like France, we could
easily pay debt held by those who specu-
lated rsmOrselessly in the tears, blood and
woes Of their fellow countrymen.