Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1884-04-29

News IL aware that bonds,
of the United States, are held by
"alien" capitalists, to the extent OF
several hundred millions of dollars.
These foreign bondholders have never
set foot OH American soil and never
will. The foreigner who buys an acre
of land In Texas pays taxes on 1t; he
must enhance its value TO ensure the
remunerativenes Of his investment;
and as its value is enhanced the state
raises the rating of his land. But the
alien capitalist does not pay cent of
taxes on his American bonds. They
are stored in vaults and he sits in the
moneyed centres of Europe-in Lon
don, Rotterdam, Amsterdam, Berlin,
The Hague, Paris-and clips the cou-
pons, and we ship gold by the cargo to
pay him bis interest. Alien capital, to
the extent of hundreds of millions of
dollars, is invested In the railroads of
this country. Is there no menace in the
monopolistic nature and tendency of
the great railway corporations? But
the News is silent on this score-ldnd
is its theme. Foreign capital is turn
ing countless looms and spindles all
over this country; it is digging gold,
silver, lead, copper, iron or coal out Of
the ground in nearly every section of
this great domain. In the city of
Galveston, under the very shadow Of
the News, 1t is invested in commerce
and there is no protest from our con-
temporary. Why, in the first place,
should the News attempt to narrow
THE GAzErTE's propositions down to
a championing of ldnded monopolies,
controlled 10y aliens? We protest that
such action is distortion. And, grant
ing for arguments sake, the force of
the allegation, what is there so dan
gerous or even improper in the posi-
ton? If alien capital may clip
coupons from untaxed bonds repre-
senting hundreds of millions of dol
lars; if it may control lines of railway,
representing nearly half billion of
American money; if il may employ
itself increasingly, unchecked and UNI
rebuked in every other form of invest
ment, why not in the requirement and
development of lands? Where is the
menace? Is it expected that the pos
session of landed property will prove,
in the hands of aliens, an agency
potent enough so revolutionize, upset
or even threaten social, industrial or
political conditions in this country :?
With all his bonds, railroads
and other properties the alien has
never been able or attempted to
interfere with the course of events
here. The cry of alarm set up by the
News is at once illogical, uncalled for
and untimely. Consideration Is
waived of the rather pointed illusions
of the News 10 the management OF
THE GAZETTE, further than to re-
mark that the conclusions reached by
our contemporary are as wide of the
mark and of justice as some of the
recent rather oflicious Investigations
into the status and domestic affairs of
the News itself. THE GAZETTE has
never contended for any more privi-
leges for the foreigner than he now
possesses, nor will it do so. 1t Is will
ing to stand firm upon its utterances
as quoted by the News, and appeal to
the traditional policy of the country,
to sound, economic, business considera-
tons for vindication. If it were not
for the ingeniously serious tone as
sumed by the News, the episode
might pass as rather amusing than
otherwise. But after this THE GA
zETTE must confess to little curiosity
to see what charge will come next.
Arralgned by the herd-law element as
an ally of the free grass" iniquity;
brought short up by the Statesman as
schemer for disintegration of Texas;
and now unmasked by the News as a
champion of "alienn landed monopo-
lies-these be busy days, of verify,
for THE GAZETTE. 1t is either doing
a meritorious work, that brings upon
1t these distinguished critics, or IL Is n
miserable sinner, sure enough. Its
constituents, the reading public, win
arbitrate.