The Fort Worth gazette. (Fort Worth, Tex.) 1891-189?, 1891-05-28


4 party has got to take the position that
| there is enough money in circulation to DO
| the legitimate business of the country, or
it must provide q safe, simple and mex
penSIve system TO get IL there speedily.
This issue has got TO be met squarely,
and no breaStworks can be made out OF war
speeches, the color line or anything else.
The party can carry other good issues along
with it, but Mr.. Cleveland and all the
Democratic leaders put together can't get
the rarity into another winning fight with
this issue left behind unsettled in the
minds of the Industrial classes. The ma
tional banking system is based on COM
modify that the average citizep even OF
wealth does not possess; then no matter
how willing national banker may be to do
so, he is not allowed to loan farmer dol
lar On either his products or his land. The
sCb-treasury scheme will loan everybody
money on everything and take care OF and
market it for him We want q simpler,
more impartial and more elastic system,
with barriers against Reputation or de-
probation, without any losses or expenses
to be paid out of the general fund raised by
taxation.
While I believe this bill avoids the errors
and evils of the old United States bank syS-
TEN. and would be an Improvement on the
present system, yet I don't pretend that it
is 4 solution, and only submit IL for discus
sion and comparison with the sub-treas-
ury scheme and the national bank system.
These banks OF circulation are wholly in
dependent, and yet don't do business on
their own issue or with fiat money. They
can continue to use the security held by the
government, and high rate of interest on
their part will start another bank Dext
door Under this bill no more money viii
go in circulation unless there is Il local de-
mand for it. When there is 4 stringcncy
now, the secretary of the treasury, whether
4 Democrat or Republican, rushes of to
New York and loans favored banks few
millions that finds its way slowly and eX-
pensively, if at all, to the locality most in
need.
Centralized finance is as undemocrdtic as
centralized government. Under this bill
each county will have its own financial
center in its own limits. This is in accord
with the Democratic idea Of localized self
government Anything is democratic for
the purposes Of discussion, but this, or
similar financial bill, would be democratic
from many standpoints. Our financial leg
islation has never looked beyond two or
three Eastern financial centerS, and left
the most of this grand country to bend the
knee of Suppliants TO those, and get along
the best they could. Under such a measure
as this, volume of money within q safe
and conservative limit, will be self-adjusta-
bic. When there is a demand for it 10
move crops, or for other purposes, IL Will
be called for, and when the necessity or
demand for it no longer exists, ii will be
surrendered and reisSued in other localities
having a use for it. 1t rids the country of
Wall street squeezers. Southern and
Western congressman of both parties are
always yielding to Eastern influences for
fear of endangering party success, and
Eastern congressman are always scared, or
pretend to be, of European threats. Aus
tralia has shown more financial and political
independence of England than we
have. Why should we, South and
terms for all our money or pres
idential nominations, or take man from
the West with an Eastern string tied to
him If those fellows could control it they
would make the sun set as well rs rise in
the East and have always believed that it.
was one OF the mistakes of the Lord that he
did rot do it that way
In discussing this question in Democratic
clubs we must remember four points that
nc man will dispute: First, this govern
ment reserved in the constitution monop-
oily of issuing all money; second, thereby it
assumed solemn constitutional obligation
to put enough in circulation to do the legiti-
mate business of the country as it grew;
third, it also assumed an obligation not to
issue so much as to depreciate its value as
Il circulating medium; fourth, every man,
Democrat and Republican, who voted for
the silver bill admitted that there was need
Of more money to do the legitimate business
of the country, and if he is ready 10 stop
there must have thought that it needed but
deyilish little more.
NARRows THE ISSUE.
This narrows the issue down TO the ques-
ton how much more money is needed and
what is the safest and least expensive plan
for the government to put it in circulation.
We don't want business to stagnate, nor do
we want to go back to coonskins for me
dunn of exchange We want the govern
ment to comply with its constitutional obi
cations and enable us to do business among
ourselves without having to pay such u
high rate of interest for the facilities.
If we are going to let foreign nations die
tate our financial policy we had Just as well
have held onto good King George.
We are not as great nation as the poll
clans tell Us we are. You are to be the tail
to the European financial kite. When the
balance of trade is against us we will pay
Europe in gold, and when it is in our favor
we will exact gold. The Republican party
says put the tariff so high as to make Us in
dependent of foreign nations. In the next
breath it says, adjust your finances on q
European basis. They can't even get this
down the Kansas farmer any more, although
sopped in bloody shirt gravy. The farmer
has left these questions to the politicians
until his farm has gone under 10 per cent
foreign mortgage, and he has nothing left
except muscle and poverty He has con-
cluded to turn politician, and the country
will be none the worse off for it ; but ! think
his relief will come quickest from combi-
nation between the Southern and Western
Democracy. No politician ought to stay in
Office if he draws his salary
and grows fat dreaming over dead
issues; that amt what the people pay him
for. There are members of this club, who,
after few weeks study, and a few dis
cussions, will know as much about politi-
cal question as any member of congress. This
country ought to have political students,
not only at 1.-The forks of the creeks" but
all up and down the creek on both sides. A
man can follow plow all the week, and
study these questions on Sunday and then
do more of it and know more about it than q
great many members of congress. / do not
believe there is a precinct in Texas with |
100 voters in it that can't furnish good ma |
terial for a Democratic congressman, if he !!
will rub up and show himself, and this club !
business will show them up. 1t will be bet |
ter for him to wear socks, as it is extremely |
to do So but he might not wear |
socks, or know all the law, either and yet |
go into congress with hor se-sense and |
knowledge of the constitution, and be an |
i'm provement on some brilliant members.
The national Democratic committee origi- |
mated this club idea, and am stuck on it |
When you get to discussing these questions, |
the ready-made politician will soon show up, |
or you can make them to order to fit the oc- |
casion. Representatives in congress should |
be taught to worry less over what some |
Eastern leader thinks, and more over what |
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