The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-07-28
DALLAS, Texas July "a, 1879.

10 the Editor Of the Democrat:
Denr Sri have been reading, with great
interest and no little pleasure, the debates Oh
your State Convention on the reports OF the
,oommittee on the State Indebtedness. ne
xnArked ability and statesmantke deport-
merlt of the members, together With thelr
ccurteous bearing toward each other, ls
worthy Of the highest commentator. 10
hndv IN men 30 learned, 80 deliberate ana 80
sifrnified We may have the greatest CONN.,
ssance and the highest assurances Oh q just
decision
s. There ID q widespread interest In the I'M
{ ..nrtant question. and much anxiety, pro and
scn as to It's determination.
- g,1t besides talent learning and nice pro-
nriety there are other faculties 10 great ne-
Tuand on such important occasions, WINCH ~. auo
ssften are not brought to bear, such as lortl-
While 1T Ii true, as you say, II all things
4lgg were righted, the State deot wouiu pe t.a
a mattel t d b. Equally sV appy to t.
Ia III i, Efforts to reject such parts Of the State
debt I'D are unjust. .,,
There d too often too much fear of impair,
md the State credit and TOO llttie aspoTglhe ara
tn resist i'm positions upon the STATE. LneIe
n no fear but the country Will properly ~.
d ssraniata the efforts Of State to have her JUST
Tights-to prot Ct herself against wrongs,
3 IN inn deht OF your State is unjust, ana Q
& 0tats ri, more than an Individual should be
Maid i'd INV ii. Indeed it should 90 az much
81 10 the dscredtt OF State TO suffer nersel ~
& roeed Observation-Disclosures to repudlaCe u uepC.
srhe members Of any body legislatlng Ior Ine
1eople should promptly repel any attempt
rs collect 81 the State an unjust dept.
But you think the efforts 81 tne uo ny fn
had better be directed to correcting Lhe Iou,l-
& lain of the evil, which you conceive 10 20 III
the workings OF the general government upon
s financial affairs. -,
spoislators state and national, and all private
anlivId,tals do not see 1t and unite 10 tne
necessary efforts to strike II down, IS most
difficult to understand. d.
Yonr article entitled "'The Cause ana Inc 70,
Ramadyn ID before me-, and have read It with
preat Interest; and in as few words as possl-
Il 6ie beg to give you q glimpse Of the true
cause Of the present misfortunes OF Ine peopie
81 and the country. emit
it is doubtless true that the SOL and us pro-
auctions, and the productions OF genius, were
originally the only property ana tnaI , 1nvy
are at this day, the only legitimate sources tas
a property and wealth. Money was instituted
M fhs netDle OF all the States to be repre-,
sentative OF the values that might De placeas
Upon their property and tne plouuessiv,ia or VI
4ieir labor Id the sale and exchange OF them,
Ma iii he used In no other Way--for no other
purpose. ,,rarr, +brourhont
all the States, subject TO az musaeions w hd,
aver. and TO no control OF any man, or poay
oil men, who could by any means add any
thing to Oh take anything from the Value OK
pressed on on It's face. s 49,
That condition OF innings, tnel q INV An,
separates money and property inevltaply
works the ruin Of O people and o country.
The only legitimate use and purpose OF
money Is trade In the soil and It's prouuc.
lions, Divert 1t from this channel and make
III aelf-propagating, and you create an antag-
x.nism between it and legitimate property.
That ia destruction to both. Or course. money
had no existence until 1t was found necessary ~
II raceiyes IT'D support entirely from the soil
and its productions. Wltharaw 'heia' CIV
what becomes OF money! 81, 10 !,
Nv an improper use OF money Lhe soil luh y
ha wrested from the people, and the people
- serfs to a moneyed aristocracy Now,
aat me examine this with little more NIL
nuteness. oox, ~ state
pnys. II greater than the income on any reAl
SsS estate OF other property aud persons nav ~,
money make more profit BY ioaning It tnan
Nv Investing IL In real estate or oCner prop
ety cruising i 10 ON Of anx Stat
sshn,lid be 80 low as to be an inducenent e
anyesu money in any property or any Drancl
81 trade there Is most likely no adequaee5 r. =
s.reto9s upon asnty thirtysx and sixty pc
sant as IN Texas; add hence no investment
N nroperty OF any kind, OF \
any business CONNECTED 1t,r, WIN and Ia IN
annntry languishes and the people becom I
distressed. When money can pc USED a
ssn interest that Is better thar the e, lnco paa
an property, property goes down. lne RLe .a
masses Of the people ann 9 is djsnaraeed an
ahe country retrogradeS. Wnen Inouen,
bonds representing money. aceu l,a.s'. :
vast amounts IN the hands OF individuals. .
mas occurred Id this country by the enects :
Ahe war Inter- st at any rate Is preferable " II
vtstment In any property or trade, because
ID free from all danger OF loss and is easll
manipulated. It IL separated entirely l lsa
ali relation, all sympathy, between the cap
aalists Of the country and the masses OF "a
T,annle. In such great boards, it has To
poWer to draw everything OF us species !, 20 ! !
ana actually makes PROVISION T. corner all II
Unoney that is issued. Before the war thef
MAS no such extensive combinations, aud y
a.sh efforts to control the money interests
the country No sucn grsa n,e e9 held onne
swice year By concert, capitalists agree
purchase no property, but 20 accunu, ~ :
he money possible By re nns % horre
nopeTt IND 1h ped Ieo their ands when at
aama time, they intend to so control :
monetary affairs as to make 1t 1mposslpie
ahe borrower to sell his property, OF oot.
money otherwise 20 pay ~ usui i,na IT, al,
fTy,is. r. being rapidly worked, and by u
means Saterest on the money that the p Pc,
made to serve their purposes is surreptltlod'
into an engine mrse st rom then til Il
fapaas and their little property and 70 t.
a aoes out ut into serfdom And nov net let
Sasnge the picture. Abolish lsn.t all a lnssr
On money and the - gre current noous
s .;a,,ns the ' Country is at once cut loose
q na 1,ssas down to seek its profit 10 the o.
e 4 lIns way investments 70 TIE SOL
81 productions trade en,t .ra fns Ianaa
nanaTaoturing, etc AZ ..a one ga az. Enhanced
value xag v syary species Of property y 10
u, nsrchase and make profit makes las Ion Is
ssssssy and prices good. Tue plooucslons