Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1888-05-31

thinking they could thus force them into
the hands Of Dallas jobbers and rivet on
them the credit system.
g. This Dallas organization kept the
wires hot and the mails full to prevent the
exchange getting money ut Fort Worth,
Galveston, New Orleans and Houston;
and to this end also used the unscrupu-
loue Dun agency.
s A Houston bank was bought up by
this organic ation.
z. The exchange offered any security
demanded, and met fst refusal-bus
was able to get money as long rs they had
lands and property OF their own to put
up IS collaterals.
Texas Far uer unhesitstingly denies the
truth OF these charges, and demands the
proof. Texas Farmer pronounces them
an unblushing and outrageous SANDER
upon the good people Of Dallss, and de-
fiss the men guilty OF Il to show to the
contrary. Texas Farmer denies them
specifically, and deflss the men to prove
single one of the charges preferred:
There has never been any secret opposi-
ton. There is not, and has lever been,
any organic ed opposition. The only or
gsnlzed il flaence against the success OF
The exchange is its own organ
lied stock company, based as 1t
is upon inexperience, unbusiness. like
methods and ignorance OF even the com
monest rules of business. No part OF the
people Of Dallas have been engaged in q
fierce struggle with the exchange Tor
fifty daye-or one day-or one hour.
There has, no doubt, been "herce
struggle" but 1t has been entirely one
sided and represented by the efforts Of
the exchange to save Its paper from
protest and its business from bankruptcy.
Some creditors in Dallas have anxiously
watched this struggle, secretly praying
that 1t might "pan out" to such an ex-
tent as to balance the many thousands
OF Indebtedness against the exchange
even now on the books Of Dallas jobbers
and banks. There is going to be another
struggle, too, when the poor farmers
notes pledged for this Indebtedness ma
ture. But the business folly of the Ex-
change managers Is responsible for Gil OF
1t and not Dallas people, Dallas banks
Dor Dsllss j)bbers! Dsllas banks never
did promise all the money needed, but
some Of item did extend line Of credit
as large as they dared in view Of the COL
lateral offered and they now no doubt
| realize that it w6s mistake to have ex-
tended any on sucn complicated collat-
erals, especially since the Exchange has
returned their favors by accusing
them OF all manner Of conspiracy and
crime. In addition, Dallas bankers are
not below the sversge for "horse sense"
and they could see that to furnish money
for an institution that WAS going to buy
goods for hundred. OF thousands of peo-
| Pile on credit, sell them on credit; that
wanted to establish towns, mills, fecso-
ries, reirigerstors (snd mile Of so-fortb)
and all on credit, would require half q
dozen Roths childs and several dozen
| Goulds and Vanderbilrs. II Is said the
devil once agreed to furnish q party all
the money he wanted in exchange for bis
soul, but if the fellow mad started the
| Alliance Exchange under lts present man
sgement, aud Old Nick had not backed
out, he ls not the snrewd fellow our ex-
perience in transactions with him has led
Us to believe.
These gentlemen say that the Dallas
conspirasors were actusted by desire to
force them to buy from Dallas jobbers
and riyet on them the credit system. In
view Of the fac: that most Dallas jobbers
are even now "trembling In their boots''
for fear of losing the amounts due
them, the first clause Of this charge is
palpably false. AS TO the second clause
to refuse to lend one money is funny
WAY to "rivet ON him the credit system. I"
It almost equals the enthusiasm of the
fellow who had such an ipveterate ha-
tired of whisky, and was so determin' d
to destroy 1t, that he YVES constantly try
ing to drink it out of existence! The
Dallas people did not keep the wires
"hot" and the mails "full" to prevent the
exchange getting money elsewhere-but
the fellow who wrote that m,y have been
either very shot" or very "full;" this
| might at least serve as an explanation,
out hardly as an excuse, for the state
ment. This terrible Dallas conspiracy
did not bur off Q Houston. bank. This
charge is absurd on its face, for in view
Of the thousands due Dallas by the ex-
change it would have been to the inter-
est OF the men sgalnst whom the bribery
Is charged to have encouraged others to
accommodate the exchange. Dallas PEG.
pie had SHIELD the bag" long enough
| to discover holes in the bottom, and Il
somebody else had come in to relieve the
monetary monotony of the thing these
men, who from the first had befriended
the institution which now so grossly SIAN
ders them, might have had . chance at
some of the leakage. As to being refused
money, although they offered the banks
security demanded, these bunglers in
logic answer themselves, for in the next
bre 18th they acknowledge getting money
on their own property, lands, etc. In
deed the only "fishy" part Of the state
ment is the great lmprobsbility oil
men VINO could conceive such business
system ever having had ability to accum-
ulate property Of any kind.
| Ordinarily. these demurrers OF Texas
Farmer ought to be sufficient to force the
managers Il the Alliance Exchange be-
fore the public with proofs Of its charges
that the people Of Dallas have organic I'd
themselves into viilainous conspiracy
against that institution. But to show
up this thing in all its enormity Texas
Farmer interviewed over 100 prominent
citizens Of Dallas, and not one among
them but pronounced the circular Ell
tirely false. An organization that has
been fercely struggling for fifty days with
the Alliance Exchange ought to hsve