Fort Worth weekly gazette. [volume] (Fort Worth, Tex.) 1882-1891, 1890-09-04


stated, each imitation must be almost I'M
nediatelv followed by corresponding
contraction. In view of this inevitable
contraction and consequent fall of prices,
OF course, while the currency Is inflated
and the prices are high, no actual con-
sumner will purchase the stored products
except In such small quantities A. he is
compelled TO use from time to time. The
regular and legitimate market, which the
farmer has heretofore enjoyed will be in
great measure destroyed, and the trade
will necessarily fall principally into the
hands of combinations and syndicates
of spectators who are able, by reason OF
their large capital, TO mOnopoliZe the
stored products and keep the prices up
for their own exclusive benefit after
they have purchased from the farmers.
The farmers cannot combine TO keep
the prices up because, i'll the first place,
they are too widely scattered 10
net In concert, and in the second
place, they are not i'll a pecuniary con-
ditIon to carry their products beyond the
end OF the year, When they must be re-
deemed from the warehouses or sold at
auction by the government. If they
were in q condition 10 do this. they
would not need public warehouses or ad-
vances OF money from the government.
EFFECTS ON THE COTTON CROP.
II IL Claimed by some, however, that
whatever may be the case in regard to
other products, the entire cotton crop
could certainly be sold during the year
to our own manufacturers and for eX-
portation 10 other countries, and upon
this assumption strong and partially
successful appeal has been made to the
planters of the South to give their sup
port to the so-callei sun-treasury plan.
In my opinion our domestic manufacture
ers of cotton goods wOul be able TO pur-
chase very little, If any, raw cotton ut
any time if the proposed plan were
adopted. No one could successfully
carry on the business of manufacturing
cotton goods, or any other character of
goods. under u financial system which
inflated the currency and increased
prices when he wanted TO purchase his
materials and contracted the currency
and reduced prices when he wanted 10
sell his products. Such u system would
soon close every cotton factory In the
United States, because the owners would
lind it impossible to sell the finished pro-
duct for enough 10 pay for the raw ma
terial used in its fabrication. But even
If they could conduct their business ut
all with such enormous fluctuations of
prices, common prudence would dictate
the purchase of just AZ little cotton Us
possible while prices were high, espPci-
ulIy when il would be positively known
that few months would bring q con-
traction of the currency and lower prices.
About two-thirds OF your cotton crop
is exported and sold in foreign countries
and it's price fixed there | presume no
one will seriously contend that prices can
he increased abroad by Initiating the cur
reucy at home. DurIug the war the price
of this article was very high in other
countries, and it was high, not because
we had a 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 II will continue to regulate
1t hereafter, no matter how large the
volume of circulation may be at pur-
ticular times In this country. AS long as
the world produces Il 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 NAV
be destroyed altogether by such periodi-
cal mutations and contractions of the
cur rency rs will make the business OF
manufacturing too hazardous to be car
ried on, aud in that event, unless pro-
ductiou is greatly diminished, the foreign
market would be over-suppliei and the
prices fall even below what they now
are.
THE MEASURE VICIOUS PER Sc.
l have thus given a. briefly as the ma
ture of the subject would permit some of
the reasons why 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 It would be uncan-
did not TO say distinctly before closing
this communication. that even If it could
be conclusively shown that this or any
other similar scheme would be pecuni-
arily beneficial to any particular class of
our people, l would still be unalteraDly
opposed to its adoption, because IN my
opinion il would be another wide and
departure from the pri ,ciples
upon which our political institutions urs
1t would be, in fact the long
est step yet taken i'll time of peace to-
ward the consolidation OF power in the
hands OF the Federal government, and
the subsection OF the private affairs of
the people 10 the supervision AMI con-
troll of a central and irresponsible author
ity. You and l are Democrats, aud as
such We believe that the government
should scrupulously abstain from all uu-
necessary interference with the personal
and dom este concerns of lite citizens and
contine itself strictly to the adniuistrH-
ton of purely public affairs. II is a car
dual principle of on political faith that
the people ure best governed when they
are least governed. and that they are
most prosperous and couteuted when left
to the free exercise of their own judg-
lnent in the management of their own
business, subject oulv TO such reasonable
rs may be necessary to pre-
serve the peace and good order of the
These are fundamental
propositions, and we cannot abandon
them without repudiatirg all the trAdi-
tons OF our party. aud all the distinc-
tons between constitutional governments
aud paternal despo tisms. Sincerely yours,
j. G CARLISLE.
HorSlord g Acid Phosphate
For the Tired Brain
rom orsr-srer.ion Tryh.