Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-06-14
ADDITIONAL TREASURY NOTES.
How They VIII Get Into Circulation-fe-
duction of Taxes VIII Lcaye
Money In the Country.
HIlLsBoRo, TEX, June 1, 1891.

duction of Taxes VIII LcaYs
Money In the Country.
HuIsBoRo, TEX. June 4, 1891.
Editor Gazette.
My attention has been called to the fol-
lowing in your issuszDf to-day:
To Judge Abbott: Your article IN the
News Is all right as far as it goes, but be
more specific Give US bill showing how
your additional legal tenders are to reach
the people or get in the channels of trade.
Don't stop at the jumping OFF place.
| thought was sufficiently specific in the
article published IN the News of which you
have the original wherein l said substan-
tally that the only solution, OF the problem
OF how TO relieve the country from financial
depression is through the success OF Demo-
caatic principles, and proceeded TO state
what conceived them to be.
1t seems however, from other paragraphs
in THE GAZETTE that you want those who
oppose the sub-treasury and the Glbos
scheme TO propose some specific bill as Il
substitute therefor. | cannot grant that
either must be regarded as sine qua non.
On the other hand L regard them both as
unconstitutional and impracticable and in
capable of being amended or substituted by
any measure looking to the same end with
out infringing on the constitution.
Congress, in several instances, has gone
beyond what | believe it had the constltu-
tional power to do; but two wrongs do not
make right, and such action on the part
of one congress does not excuse another
for doing likewise. 1t Will be an evil day
for the people of this country when they
can be led to believe that the constitution
can be violated with impunity, or when
under a liberal construction 1t can be
strained to justify the exercise of powers
by congress not expressly conferred or dele
gated by it. If such an evil day should
ever come-which God forbid and the
powers Of government become centered
and localized in Washington, then will the
people be doubly manacled by the money
power, from whose hands they are now
struggling TO wrest power.
You ask me, further, to give the outlines
of a bill showing how the additional treas
ury notes mentioned in my former letter are
TO reach the hands of the people or get in
the channels of trade. | answer candidly,
this cannot be done directly without con-
yeyipg it directly 10 the people in the form
of gift. Does the sub-treasury plan or
any of the proposed substitutes therefor
provide for the issuance of legal tenders for
free distribution among the people as
gift? Certainly not. Then, how is the
money to get into the hands of the people
under the sub-treasury scheme? First, by
an advance to them Of so per cent of the
value of the farm products deposited, to be
appraised by some Federal official; and,
second, by the payment OF whatever amount
may be due the deposition of the products
from the proceeds of the sale thereof after
deducting the so per cent advanced and
charges etc. Under this plan the people
simply get the proceeds of their farm pro-
ducts and,no more-and / seriously doubt
if they would get as much under the sub
treasury method of dispoSing of their pro-
duce as they get under existing methods.
Now how would the people get money
under the plan proposed by our friend
Gibbs? Simply by going to the banks and
borrowing it by giving mortgage on their
land or good security for its repayment,
and when the money became due they would
have to repay it from the proceeds of their
farm products or by the sale of their land.
For heavens sake let US not advise the
people to favor any scheme whereby they
will be induced TO further incumber them
selves and their property with additional
debts. Every plan proposed, so far as l
have seen, which pretends to afford relief
for the people is based on the products of
their toll and labor-from the proceeds OF
which they must ultimately repay all they
get.
Now, in further answer to your question,
I will say the additional treasury notes
mentioned in my former letter will reach
the hands of the people through the same
channels through which they have ALWAYS
received it, and through which they must
get it under the Sub-treasury plan and all
its substitutes, which is, through the sale
of the products of their farm and ranch.
But You may ask how are these treasury
notes to get out of the government treas
uryl An answer to this is easy. The gov
ernment of the United States will have
paid out by the Goth of next June for the
past two fiscal years over one billion of dol
lars (Which, of course, is most eXtrayagant),
for the support Of the army and navy, for
e..
public buildings and for many thousands Of
obligations of one kind OF another. The
most of this vast sum goes into general cir
culation and finds its way to the people of
all kinds and classes through the channels
of trade and commerce and in exchange for
products and labor.
Now please remember what said before
reduce taxation. Instead of compelling
the people to pay three prices for tin and
tinware two prices for all their
clothing, one and a half price for all farm
ing implements and so on with everything
they have to buy, reduce taxation and let
the people keep the money in their pockets
or Invest it in home enterprises and indus
tries. Instead of robbirg them of the pro-
ceeds of their labor under the guise of pro-
lection and of supplying them with new
issue under some new scheme of which the
protective tariff would rob them again
stop taxation.
1t has bcen many times shown that for
every dollar that finds its way TO the treas
ury under tho protective tariff system, four
dollars reach the vaults of the great manu-
featuring establishments of the East and
North. When taxation is reduced and the
people relieved from the great burden the
present system imposes upon them, you
can readily see how there will he more
money in the country and how the addi-
tional treasury notes mentioned can get
ION ht he.
ment paying them out on its obligations.
Now let nc further say that the Demo
cratic parry has done all that has been in
lis power t. do, 10 remedy the evils OF
which he public complain. hut has never
At any time since the close of the war been
ia f,.l! pos session OF all the branches of the
government and therefore could not ac-
cprupiish what was desired By the people.
The Democratic party is now daily gain
iu@ strength in the West and Northwest
and It is doing II on the tariff and silver