The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1886-09-16
TERRELL.
A BRILLIANT HILIIPPlC
AGAINST MAXEY AND
THE RAILROADS.
LEE ANOTHER BRUTUS THE
TEXAS STATESMAN STANDS
UP FOR THE PEOPLE.
snac.al relegram % the statesman.

a history of the demOcrauc party.
Indie. Terrell referred pleasantly TO the com
ulaini- made by the Ireland papers Of Mr.. MaXeyt
custom house officials, who were accused OF doc
tOrlnr IA convention along the coast IN senator
MaxsJ5 interest. lie said II was really curious
tuht the first instruction for senator MaXey came
from a county where three thousand dollars sal
aired postmaster lived and who had twelve years
aeJ II stained Senator MaXey in the house OF rep
resentdtves No less astounding was the fact tha'
Ills next instructions came from all along the
coast uf western Texas, where the custom houses
are But don't see why the II leland papers should
complain of IL, for our Distinguished executives III
the appointment of di tric attorneys and the like
seemed also TO have sharp eye to the main
chance and always found the right man,
who was brother to stat
senator. | take no part in this pot and Kettle
quarrel II started from practices at war with the
doctrine of civil service reform, and must be re-
bnked by the people who have no sympathy with
Official rings, whether federal or state
Referring TO his candidacy for the United states
senate, he said: 81 have incurred the displeasure
of the corporations of Texas, because advocate
their CONTROL when they operate public highways
and their adjustment, when they mOnOpOlize land
or invade the domain of individual industry For
this tn corporation poems traduCe me, ana mus
hope divert me from the discussion OF the truth
b. compelling me to self defense. | have done
nothing which requires defense. My life in Texas
for thirty-fOur years has not been hid from the
people Whether on the bench or In the senate
my course has been observed during all those years
by my neighDOrs at the capital where other senate
overwhelming Endorsement by that people in full
convention, must answer the tongue of sander. II
this be unayaling, my poor denial OF the ISLANDERS
would he still more 50.
II has been said that no citizen should 20 before
the people as a candidate for the United States SEN
ate NO Office Is above the aspiration OF the
humblest citizen, and free people have right TO
hear and know the doctrines OF their candidates.
Nebraska in her constitution permits any cand-
date for the United States senate to have his name
voted on at a general election, and senator Van
Wyck, whose scalp the railway corporations threat
ened to have in their basket az the next election is
now asking popular vote and appealing to The
people.
Ifejery state had a similar.law; the senate would
not have 10 men occupying seats there, VINO are
worth from one to four millions each, and we
would not bo threatened with having our senate
turned into an American house of financial lords,
not OF gentle lineage tut the spectled progeny OF
casa, cotton spiDdes, coal inlne;, ana Wdtered
Stocks.
want the people Of Texas to understand that
they nave one United states senator, Senator
CokeJ VINO IL opposed TO permitting railroads in
Texas 10 plumber the people by freight charges on
watereA bonds and stocks, and they nave rght to
know whether his colleague, VINO desires re-
erection, thinks the same way.
That senator knows that this can only be done by
some intelligent tribunal standing between the rail
ways and the people, and liking, and changing
freight charges, 30 AS TO pay good interest only on
actual investments, and protect the people against
pools discrimination and eNtOrtlUn. Inc arm OF
the state acting through created agencies can alone
effect this Senator Coke on the 18Th Ot May, St,
sail IL the senate:
$50 give value TO watered stock means, in plain
Enrlisn To rob the pubic IN eXtoI tiUnAte trans
pOrlaUlOn charges and the employees VINO per
form labor ON railway lines in reduce. wages. La
Dor cannot duplicate itself to meet this duplication
of capital. Nor can the public protect itself
against the wrongful aud dishonest eXaCtiOn. IL Is
10 give value TO this fraudulently issued stock that
the DIV dends ON it are forced by double charge on
the public for transportation, and by cutting down
other wages of labor
In the same speech he said that the chiet re-
sponsibility and the highest duty rested with the
states which have chartered the great corporations.
For uttering sentiments IKE these have shared
the fate of every who ever espOnsed the cause
OF the people against giant corporations, tor in
these last days every man who does this must,
like me, be called demagogue by these gentry,
and their pimps To permit tolls to he collected
from the people to pay the interest on imaginary
values represented by watered bonds and stocks,
is not only wrong but II Is Infamous. This stock
and Toad watering Is not understood by
the people as 1t should be, IL Is
u facial operation by which those who put money
In a railway often receive two to three times more
in the shape of bonds or stocks than they ever in
vested in the road, ON the values called for by those
bonds stocks. The road managers try to pay
interest and fix freight charges accordingly Thus,
In attempting to force dividends they diminish the
gains of agriculture, and depress the wages of
laeir abOrers. The roads they operate are public
highways and subject " legislative control, rs held
Oy I'LL COuIlb AVN only eO, UUl liley were sUD-
sidized here IN !eXas by near siXty-two
million acres of land, gwen to construct
Now is II not plain that every dollar collected
in freight charges over and above what Is needed
To make a good interest on actual investments and
defray operating expenses, is that much of tax
taken from the people by the corporation without
considerations What is this but robbery law
robbery which comes at least out OF these who till
tue suilY Charles Francis Adams Is authority for
the statement that the stock waterings between
Buffalo and New York cost the American people
not less than three millions in excess of all the
remuneration which ever and OF right belonged To
the owners of the road. | assert and can demon
sirate TO any fair mind, from the sworn reports of
railway owners In the Office of your state comp.
troler, that have giant lines of railway In Texas
thai pay ~ per cent ON u valuation OF twenty
thousand dollars a mile, after all owing 10 per
cent OF gross earnings Tor expenses, aud Yet they
do not snow the payment OF one dollar OF dividend
TO the stockholders. That money went To pay IN
ter! ~ ON wateied bonds, aud was sunk IN tue
pockets of the milliOnaires VINO own them III New
YORK.
" hat is this but robbery! The robbery of pa
tent industry; the robbery which destroys the
profits OF agriculture, and depreciates the value OF
ever acre OF cultivated land in Texas; and yet
this very stoci and watering is prohibited by the
cogstit ltion OF your state Article Nll section o.,
OF the constitution, reads thus:
M cUrpUratIuI' shall l9sue STOCK OF ponds eN-
cept Tor money pdl, LABOR done, or property actu-
al received, dnd ali ict tiuus increase OF stock or
Indebtedness shai De void.
The statute law contains sigular provision.
Ar Icle IIji, of the civil code, provides
"No railroad company shall issue any
stock or bonds except Tor money,
LABOR, or property actually received
and applied to the purchase for which such corpor-
alton was organized; nor shall il issue any shares
of stock In said county, except at its par value,
and to actual ST. serb irs who pay or become liable
TO pay the value thereof
Every owner, therefore, of watered stock or
watered stock or bonds received il with his eyes
open TO the fact that il was issued in violation of
and statute, but like your law about school lands
and shOol grass, il has no adequate machinery TO
enforce il, and il refuses Ia work.
The constitution not only requires that laws be
passed requiring reasonable maximum rates
OF freight charges, but that laws
shall be enacted u correct abuses
aud prevent unjust discrimination and eX
tortiOn in freight rates But the cunning OF capt.
tai has always been more potent than the unOr-
ganized efforts Of labor and this statute has re-
manned dead letter
The corporation barons of the Panhandle have
usurped your schOollands ana defy your laws be,
cause youhav no legal commissions to supervise
d.r'Lt and control them, and your non resident
barUns of the public highway are
playing the same role and for
years have laughed at your statute
senator Coke, on the 18th of May last, said that
the stock and bond watering by railroads was
crime AGAINST the public. He said: This crime
against the public will never cease until the people
through their state governments, which alone can
deal with IT, shall make war upon il with earnest
ness, energy and determination Will his colleague
endorse this sentiment and suggust remedy:
There Is but one remedy, and that must come
through tribunal, created by law and invested
with the power and duty - fix charges that will