Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-08-06
OUR MONEY.
A CURE FOR THE PRESENT CON-
OlTiON Or AFFAIRS.
Something to set Those who are Oppressed
to Thinking-ReformL Lies in United
Action of the Masses

| gresS can provide such circulating medium
! FOR both Is apparent to even casual ob-
/ server, while all agree that II Is duty
! which the people owe to themselves 10 es-
/ tabliSh and maintain an independent sys-
| TEN Of finance. y system not TO be al
! fected by the financial policy of any party
| III power. or by complications which might
| arise between this country and for
| eign powers: in fact, system
states could control financial system that
would be of the people, by the people, and
/ for the people There IS no question that
such system could be established and
maintained if the people will it. for If we
/ understand RepubliCaniSm Alright the peO-
! pie are the government and their viii IS
/ law. Such system. however. cannot
! be grated upon the present rscal
/ policy. and an Cutcra change must be made.
! The present financial policy OF our govern
! ment based on a gold standard, IS defective
| for many reasons. chief among these are our
| complicated relations with other nations;
| putting il out Of our power 10 regulate the
| value of gold. The actions of banking Iu
| situations and other mouied corpora
| tons, no. only in our own
| country but Of capitalists in
| foreign countries TO converting the money
| market and contract the circulating medi-
um, etc, and last, but not least, the work
| ing Of Our present taTT tax are prominent
| factors in bringing about the present uusdt-
isfactory condition of finance The tariff
| tax, against which Just complaint
I is made, We are told on good
| authority averages 60 cents on each
| dollars worth of goods we buy Think Of
| il Three hundred dollars in gold paid TO
maintain the general government on every
| $500 worth of goods bought by the cOnSum-
| er. Well may one ask, how 90 We bear
the load at ALI That Is not the worst.
| This enormous tax Is paid By the many OF
L. 5'ta
| the few with their millions 60 almost scott
free for we pay this taX,uot on the basis OF
what we owe. but according to the amount
we buy. and the millionaire does not buy N
the proportion his property exceeds that Of
the man whose taxable values amount 10
$500 TO $1,000. The man whose taxable
values amount TO $1,000 and this is above
the average and who has an ordinary
family. must buy for his and their use and
| comfort at least 500 worth of goods
year, and of this 500
IS tariff tax. paid in gold 10 the general gov
eminent. Does the man with million buy
in the same proportlOn2 Does he the one
time millionaire, buy 100000 worth of MGR
chandise during the year for the use and
comfort OF his family If he does.
then he would pay tax III the
same proportion as the man whose taxable
values are only $1,000. Under this system
of taxation it Is readily seen that millions Of
property belonging to individuals and cor
porations actually pay no tax to maintain
the general government. and u
IS also apparent that this great
load IS borne blythe many of small means.
Now we are told that the remedy for all
this is, first the unlimited coinage of gold
and silver; second, the issuance of addl-
tional treasury notes in such an amount as
will give sufficient volume Of currency.and
third, reduction of the tariff. > Now our OBJ
ections to this are first we do not see how
the unlimited COINAGE of gold and silver
would help or benefit any one but those
who have gold and silver to coin,
or that such gold and silver
would be coined if moneyei corpora
tions should see fit to prevent it
by buying the bullion and having the same
coined whenever the corporation saw nit.
Second, we 90 not understand i'll what
way, nor do we think II possible for the
government TO increase her liabilities
by issuing additional treasury notes,
and at the same time reduce the
rate of taxation; and third, after all this
had been done, we would be no better of
than now, for with gold and silver stand
ard any currency based thereon would be,
as at present, subject to initiation
and contraction, for the reasons
given and by the agencies already
designated. With gold and silver
as standards there is nothing to prevent j
financial crisis at any time.
all kinds of property taxable, and then
levy a direct advalOrem tax for
the general government, II it IS best
to support our state, county,
and municipal governments by direct taxa
ton, why not maintain the general govern
ment by the same plan? II was certainly
the intention of the trainers of the cOnStl-
tuition at least to meet in part the expenses
of the government by direct taxa
ton. Section ;, clause of
sahe constitution, gives to congress
the power ''to lay and collect taxes, duties
and excuses" And section Q, clause 4. of
the constitution in restricting the power OF
direct tax shall be laid unless in
proportion to the census or emu
meration herembefore directed to be
TAKEN Thus it is evident that the
fathers" intended to levy direct tax. If
not why should they cucumber the cousti-
tuition with these provisionsl Under such
a system of taxation YOU would pay tax in
proportion to the value Of your property
And all property in all states
would bear its equal and just
share OF the burden that now falls 50 heay-
lily on the consumer, regardless of the value
Of his property, while the capitalist and
moneyed corporations go free. We believe
this system TO be just, and are strong ad-
vocate OF the scriptural doctrine. For unto
whomsoever much is given" (by class and
paternal legislation, subsidies, etc., "of
him shall be much required"
The levying and collecting OF a direct ta5,
would not require additional officers, for
each county has its assessor collector and
treasurer. Each state has its comptroller
and treasurer, and as soon as the tariff tax
was dispensed with the great horde of
customhouse officers, composed Of collec-
tors, inspectors. detectives, etc, all
of whom are appointive under
no ont p0111A hf. n ich
the cost of maintaining the government
thereby considerably reduced. Second. For
a circulating medium issue United States
treasury notes, making them legal tender
for ali debts, both public and private, ex-
cept custom duties, and allow any one to
put these notes into circulation
without interest who had unin-
numbered agricultural land in state of
cultivation as security, giving said notes
value and as guarantee Of their redemp-
ton. For this idea of issuing treasury
notes, secured by real estate, l am indebted
to Senator Stanford's bill introduced in the
last congress for the purpose, suppose. Of
meeting the popular clamor for relief
caused By the contraction of our
currency, so that the tariff tax might DE
perpetuated, as according TO Stanford's bill
il would not be an indepenent currency, but
these notes were only 10 be used as auxil-
liary TO swell the circulating medium, and
the tariff remaining unreVised would con-
tinue as of yOre. 10 enrich the few at the ex-
pense Of the many. All mortgages Sc
curing said notes to run for fifty years,