Fort Worth weekly gazette. [volume] (Fort Worth, Tex.) 1882-1891, 1888-06-01

4
cali, we are fraternally yours,
| EVAN JONES President.
| b. j. KENDRICk,
| Jos SMELsER,
| u. L. CLARK,
State Executive Committee.
o. W. MUCUNE, Bus Manager.
j. Is. RILEY, Secy E. change.
HARRY TRACY, Superintendent
Now Texas Farmer asserts that even
8 com oination eIs that is sendirg tn
notes Of the Exchange to protest, destroy
| ing It's credit, and putting it upon III
brink of fsiure, while 1t may serve T.
show the hatred OF monopoly for labor
Will offer no excuse for the managers o
tire Exchange. Being posted as to thi
hstred in advance, they had no right I,
walk into the trap laid for them, q d tax,
along with them notes for thousands o
dollars Of good, honest farmers hard
| earned money.
| But is thig combination the result O
hstred7 Let US see. The note sent en-
by the Exchange, or o! least one form o
them, is as follows:
No
| or either of us promise to pay to the Farmers
Alliance Exchange Of Texas, Or order, fol
value received the sum of - dollars. Tint!
roe is given In payment for goods, wares anC
merchandise purchased for us ana shipped &c
- at t., TeXat, and is payable In
the city of Dallas, Tex.
Given under our hards at -, in thu
county Of -, and the state OF Texas, this
the - day of -. a. d 1883.
Then follow blanks for any number Of sigma.
tures,I
Accompanying the numbered blank note
shown Texas Farmer, wss another blank,
and very suggestive one, IS follows:
No
Know all men by these presents: That the
Farmers' llliance Exchange Of Texas hereby
with certain prOmissory note of the same
nun Der and ate of this contract. and made In
favor of said Ell hange by csi tain members CT
" Alliance. No : and tina when said mo- g
Is d e and presented for payment, credit Will
be SLOWED on same equal t. the oifferonce be
tween the face OF the note and the amount Que
the Elk hapge for purchases made by the Pur
chasing Agent named in the heading of said
note. eiven under my hand st Dallas Texss,
this the - Day Of - -, 1888. G. W. MA
CUNE, BGsines. Manager Farmers Alia &c
Exchange.
To secure their pro.rata of ii notes, as we
understand the scheme farmers, in ma y in
stances, have given chattei MOI tgages on
CROWNS crops; provi1fng that they are to be
charged interest at per cent per month from
date of first purchase. That is 10 say: II the
mortgage wa for Slo0 and the purchase S. and
for any reason no OF er purcha.e is ~ ade, the
signe, is char ed interest on 500 until the note
10 paid.
Now, some questions: First-If the
Exchange WAS not going to part owner
ship with the note, why was not that con-
di!ion in the face ol the note? Second
II the ownership WAS not to be trans
ierred, why was the note made negotis-
BILE? Third-Ii |. was condition OF the
note that when 1t WAS presented, credit
was to be given equal to the difference be-
tween purchases and its face, why was
not this condition put in face of note2
Fourih-If any credit was to be given on
note for goods not purchased, why were
the signefs OF the note asked to confess
in its face that their purchasing agent had
already received goods, wares and mer-
chandise equal to the full value OF the
face Of the note.
Texas Farmer thinks the answers to
a!l OF above interrogatories are so otvi-
Gus that 1t ia needless to give them. II
merely says this to the signers of those
notes-when due they are payable In
Dallas, can be eued on in Dallas and a
judgment In favor OF the holder for face
value is as cure AZ that the stars are
sbove US. They are not only "for value
received" but the cor sideration is
knowledged in the face OF the notes
The separate contract which any
one may have made as above quoted, can
be plead perhaps against the Exchange,
but not against any other holder Ct pote
Whether the transfer Of note identical
in number, date, etc, with such = con-
tract az qaosed, will subject its nego,i
stors to any other penalty, Texas Far.
mer is not lawyer enough to ssy-but
has no hesitation In asserting that 1t
ought to. Now when these notes were
first put on the market, it was easy
enough to negotiate them. We have
been able to flnd the contract above re-
ferred to-the mortgage above referred
have not cen able to reconcile
the different documents, taken in connec-
ton with the negotiable note copied, es
coming under the head OF legitimate bust
ness. Bankers, business men-monopo-
lists, IL you plesse-could as easily have
these collateral facts. Know.
ing these facts, question fifth: Can any
one blame people for ceasing to advance
money to the so-cslled Alliance Ex-
Could such decision be
CT .ssed IS combination, or did 1t par
take of common sense, il not charisy3
Texas Farmer does not hesitate to say
that the disasters which have befails the
Exchange are only the legitimate fruit Of
q system the conception of which is dis
creditsble to the logical acumen Of even s
novice. The hurrsh and gushy conven-
lions called for may result in securing
more money, and thus prolong the strug-
gle-but we believe it csn only postpone
without sverting the day OF final disaster. !
OF course this deliverauce will subject
Texas Farmer to q great deal Of censure
from the over enthusiastic brethren Of the
But, brethren, We could not
hsve been true to what we deem our
duty to the farmers Of Texas
and have said less.
Texas Farmer holds that the exchange
Is only suffering the legitimate results Of
unwise business methods, and that 1t is
both unjust snd unchsritable for the men
who are st fault to attempt to hide their |
own shortcomings behind the passions
xnd prejudices which may be stirred up
by means Of meetings comprehended in |
the foregoing call. Texas Farmer sppesls !
to the conservative members Of the ALI
ance to treat this matter from the stsnd- |
point Of common sense and common de- |
cency; and in the long run we know they |
viii do go, and that all blame will be |