Fort Worth weekly gazette. [volume] (Fort Worth, Tex.) 1882-1891, 1890-05-29

longest step ever taken By this government il
psternalism and class LEGISLATION; and would
| great merchant and money lender, IN defiance OF
all our past notions 70 its character and ths
reasons for its adoption by the people.
Some OF our Texas NllanceS have also re-
| quested me to support bill introduced by Rep
| resentative Featherstone providing tor the gov
| erament to loan money to the people at
on their land to secure its payment. I
cannot lengthen this letter by criticisiug this
absurd bin further than to say that if it were
made law think It would bankrupt most OF
! those who would avsil themselves OF its pro-
visions, and that it would make the govern
ment great holder Of real estste. One of the
great troubles OF the people now is that they ara
too much in debt. And il is incomprehensibls
to me that they should be seeking legislation to
enable them to get deeper in debt.
Agriculture was once regarded as among
ths most honorable, independent and re-
muneTatiye occupations. But it has for years
past been taxed for the benefit OF railroad cor
porations, manufacturers, bondholders and
other large money holders and plutocs2ts gen
orally until it is no longer remuneratiys, and
seek other and more profitable employment.
What farmers should think and work and vote
for is tho repeal OF existing class legislation,
and not for the adoption of more class legisla-
ton, such as is contemplated by these bills.
The organizations Of farmers and laborers to
resist and secure the repeal OF existing class leg
islation has my unqualified approval; but can
not approve efforts by them to secure additional
class legislation.
The members Of your Alliance are doubtless
aware that the product OF corn in the United
States last year 1l2 s92 900 bushels; that of
the wheat crop $50, $50, coo bushels; that of the
oats crop 75l 575 600 bushels; not to mention the
tobacco crop and other products which
could be stored in warehouses;. and about
$500, 0O0, 900 worth of cotton. But only the
marketable surplus OF these products could be
stored under these bills. 1 am not informed
what that would have been last year. But
about $3.50, 00o, 600 worth of farm products were
last year exported to foreign countries. And
tha m mad in, lrl- nVTa ri . 4 Il
towns, and by manufacturers, miners, mer-
chants professional people and other nom
Of farm prodf6Sts w0 MID
times as much This would probably put
than 81, $40, 900, 600 worth OF farm products
into the market in one year. II the half OF this
amount should be placed in the government
warehouses and elevators to secure loans, it
would mean that the people would be suddenly
81 900 900 COO. with their crops pledged for its
payment; and that q like sum OF money
would be thrown into circulation in add
ton to the current volume OF circulating money.
This would certainly greatly initiate prices OF all
commodities and cause great fluctuations in
values, and 1t would disturb all business and
commercial calculations and produce o2l2mitouS
evils. The interests Of the agricultural class,
like oil other interests, require steady volume
of currency and steady prices. Nothing is more
injurious to all classes of people than an IN
stable volume of currency and huctuating prices.
We all remember the effect, caused by neces-
sity, OF the excessive issues OF Con
eminent during the wEr experienced
the same evil in a less degree. And many OF
the people now living remember the days OF
wildcat banks and of shinplssters, and the
cslsmities they entailed on the people. Surely
no wise good man can desire renewed in
Fiction Of such misfortunes.
II the bill providing that the government shall
loan money on land mortgages should be passed,
we'll as the sub-treasury bills. all values
would become unsettled, money would become
cheaper than anything else, industry would be
p2ralyzed and all great enterprises would be
arrested.
1 recognize and regret The fact that we have
not now = sufficient volume OF circulating
money to meet the necessities OF the country.
but you are doubtless aware that l have been
doing all could to remedy this evil.
If we can get the free and unlimited coinage
of silver to increase the volume OF the currency
reasonable charges of transportation rates by
the railroads revenue bill instead Of 3 high
protective tariff and prevent by state and Fed
eral legislation trusts and unlawful combina-
lions for the robbery Of the people, and arrest
gambling in grain options, most or the troubles
we now experience will pass away, and pros
perity will again bless the country.
Long as this letter has become, there is one
more matter beg to call your attention to-the
passage Of the act Of congress of 1863, which de-
MED to the people the right to pay the national
indebtedness in the kind Of money illegal tender
notes. for which the government bonds were
sold; and the passage OF the act OF 1873, sus-
pending the coinage Of silver dollars, and max
ing the gold dollar the unit OF value, which in
hicted such great nisfortunes on the country,
caused the people to revolt against the policy of
the Republican party. And then, If the people
had acted wisely, that policy OF run
ming the government in the interest
Of boudholdcrs, money sharks and corpo-
rationS would have been reversed, and the
people of this country would nave oeen saved
from the poverty, misfortune and suffering that
policy eatniled on them. Bat unfortunately for
the country the Republicans, who diszpproved
the policy OF their party. for the most part, re-
fused to join the Democrats, who had opposed
that policy, and sought to form . new political
party to rescue the country from the unfortu;,
by the policy Of the Republican party. Some
discontented and ambitious Democrats Joined
them. A number of new political parties were
started, which were finally merged into what
was known as the Greenback Labor party. This
new party proved to be utterly poWerless to Sc
cure the desired reforms. But by its form alton
instead of its members uniting With the Demo-
Gratis who had opposed the Republican policy,
prevented the Democracy from securing to the
dered necessary. And since chat many
of the very men whose unwise course
prevented the Democracy from restoring good
government to the people have been saying to
the people from time to time that neither OF tho
old parties were friendly to their interests.
Now sgain the public mind il thoroughly
And if those who desire it would unite with the
Democracy the people would be relieved. And
now again, misguided men, instead Of acting
with the Democracy and securing relief for
the country, forming new organizations
which will be dragged, fear, into Opposition
to the Democratic party, and again defeat the
body Of men OF the Alliances and oranges of
Texas are good Democrats. 1 know, too, that
the have shrevd men among them who are
looking to the formation of new political
party, and to the defeat of the Democracy. 1t
remains to be seen whether they will succeed.
We may by this means lose some Of the Southern
states, and fail to recover the house of repre-
sentRtives, and fall to secure the much needed
relief Of the people. While this is the peril OF
the Southern states, We saw, in the elections OF
1885, the farmers Of the West voting to sustain
the Republican party, which is taxing the life
blood out OF them to keep up high protective
tariff for the benefit Of the manufacturers in
stead Of uniting with the Democracy to relieve
themselves Of the burdens now being imposed on
them by the Republican party.
viii The people never be wise enough to take
care OF their own rights and interests9
renew the expression OF my sincere regret
that I cannot, as to these bills and their policy
act in harmony with the people have tried, as
/ think faithfully, earnestly and laboriously to
serve.
IN order to avoid the necessity OF writing an
swers to other resolutions and letters like those
you sent me, I will give this letter 20 the press.
Very truly and respectfully,
JOHN II. REAGAN.