Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-09-01

prices common prudence would dictate
the purchase of Just as little cotton as
possible while prices were high, especi-
ally when it would be positively known
that few months would bring a con-
traction of the currency and lower prices.
About two-tnirds of your cotton crop
is exported and sold In foreign countries
and its price fixed there. | presume no
one will seriously contend that prices can
be increased abroad by initiating the cur
reney al home. During the war the price
of this article was very high in other
countries, and 1t was high, not because
we had q redundant and deprecated cur
rency, but because the Southern crop
could not reach the European
markets. The law OF supply
and demand regulated the price
then, as it will continue TO regulate
1t hereafter, no matter how large the
volume of circulation may be at par
ticular times in this country. As long as
the world produces sufficient supply of
cotton. and the markets OF the world
are open to it, the natural laws of trade
will regulate the price, and no artificial
arrangements here will effect il, except
to the extent of the demand for home
consumption. This home demand may
be destroyed altogether by such periodi-
cal mutations and contractions of the
currency as will make the business of
manufacturing too hazardous to be car
ried on, and in that event, unless pro-
duction is greatly diminished, the foreign
market would be over-supplied and the
prices fall even below what they now
are.
TIE MEASURE VICIOUS PER Sc.
! have thus given as briefly as the ns-
ture of the subject would permit some of
the reasons why l think the proposed
plan for the relief of the farmers would
be injurious instead of beneficial, not
only to them but TO all the other people
of the country. But II would be uncan-
did not to say distinctly before closing
this communication, that even If 1t could
be conclusively shown that this or any
other similar scheme would be pecuui-
ariIy beneficial TO any particular class of
our people, l would still be unalterably
opposed 20 its adoption, because IN my
opinion it would be another wide and
dangerous departure from the principles
upon which our political institutions are
founded. 1t would be, in fact the long
est step yet taken in time OF peace to-
ward the consolidation of power in the
hands OF the Federal government, aud
the subsection of the private affairs of
the people TO the supervision and con-
troll of q central and irresponsible author
ity. You and l are Democrats, aud as
such We believe that the government
should scrupulously abstain from all I'M
necessary interference with the personal
and domestic concerns of its citizens and
confine itself strictly to the ndministra-
ton of purely public affairs. II is a car
dInal principle of GU political faith that
the people are best governed when they
are least governed, and that they are
most prosperous and conteuted when left
to the free exercise of their own judg-
ment in the management OF their own
business, subject only to such reasonable
regulations rs may be necessary 10 pre-
serve the peace and good order of the
community. These are fundamental
propositions, and We cannot abandon
them without repudatirg oil the trhdi-
lions of our party. aud all the distinc-
lions between constitutional governments
and paterual despo tisns. Sincerely yours.
j. G CARLISLE.