Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-05-30

NTlDUS. d. DulIllcG AZ LID opStCl 1doO "CCh
at Lancaster, in reference to establishing
national banks of issue, based primarily
upon real estate security.
That more money is badly needed in the
South and West, no well-irformed man in
ethis state will deny. That the Democratic
sparty will meet the demands and needs Of
the people feel assured. Its past history
authorizes this confidence, and am glad to
see that Governor Gibbs recognizes the
gravity Of the situation and boldly advances
an idea that. 10 say the least. is worthy OF
the serious thought of our party leaders.
Politics is progressive, and the party that
does not keep up with the advancement and
growth of our country will go to Join Nc
kinley and ingalls,.
Mr.. I. A. wYTHE, EX-CoCSTY CLERK AND
SUCCESSFUL FARMER.
1t is a good idea. l have no batter TO
offer There may be better ideas in the
minds of the political fnanciers than this,
but SO far they have been kept latent in the
minds of the happy possesser. l am in
terested in this question. the more because
l belong to the debtor class, and ould like
for every one who opposes the Gibbs bill to
suggest something he thinks better.
think the Gibbs bill the best thing offered.
| am for it until something better is offered
or until learn better
MR.. j. II. CARUTHERS, BANK DIRECTOR AND
CAPITALIST.
Mr. Gibbs idea is q good one. It is, in
my opinion, the best I have ever heard
That it will give the needed relief and on a
very safe basis there is no doubt in my
mind. / approve the idea, and stand on
that as / did on Governor Hogg'S suggeS-
ton to loan the school fund 20 railroad
builders, that in my judgment no man will
offer better plan to give the needed relief
on the money question.
MR.. JASPER y. HANEY, ATTORNEY AND
FARMER (REPUBLICAN).
I think Mr.. Gibbs correct that the Demo
cratic party has to do something at once for
the people if they hope to have anything to
do with the administration of this govern
ment's affairs. He has evidently been beat
ing around in the brush to find his way out
and MS suggestion seems to me to be about
the proper way. | think his ideas as sug-
gested in his proposed bill are the best rem
edy | have heard suggested, and will GER
taiuly do for thorough discussion and III
yestigation. We all know that the South
and West is and has been for several years
on boom with speculation and initiating to
an extent never before heard of i'll the
United States, and probably not equaled III
the world. and the demand for money IS far
beyond what ii ought to be. The 500 man
is trying 10 do a $1,000 business, and the
$1,000 a 500, 900 business, and to express in
the language of the treenback orator, the
country needs more coilatcraiS rather than
more money, which would be the result il
we had legitimate tariff for revenue only,
enabling US to buy more goods with less
money and keep US from eternally sending
all our money East. / am 'fornist' high
tariff, especially for the South and West
If | was an Eastern manufacturer | would
be for high tariff.
MR. GEORGE P. LEVY, GRAIN MERCHANT AND
PRESIDENT FRANCO-TEXAN LAND COMPANY.
think both the sub-treaSury scheme and
a-fI 4rrtn
ridiculous. There is not a power in the
world that could maintain such scheme as
the sub-treasury scheme; anything would
be preferable 10 it.
SIR. \. y. GRANT, CASHIER CITIZEN Ma
TIONAL BANK.
I have not studied the bill carefully.
From a casual reading it appears to be
simply a move TO make land the basis OF
bank circulation. I doubt if Mr.. Gibbs,
would care to press the adoption Of this|
method if there was a serious apprehen
sion on his part that it would ever becOmd
4 law. The natural and rational basis OF
circulating notes is gold and silver. To
make land the basis and leave the apprais-
ing of such land to pOstmaSterS. who may
or may not be competent to pass on its
value would, it seems to me, be Il ratheE1
reckless method. The present nationa
banking law is without doubt the best thN
country has ever had. The law prohibit
ing national banks to loan money on real
estate security, | regard as one OF the best
features of the system, in that it prevents
banks from specializing in q class of Securi-
ties that cannot be realized on promptly,
should sudden and unlocked for demands be
made upon bank by its depOSitors. Nj.
Gibbs plan is the reverse of this and sayoA
considerably of the sub-treasury schema
| think it is unwiSe and impracticable
MR. B. 2. CHosTAIN, FARMER, AND ONE d
THE PIONEER FARMERS ALLIANCE MEN. I
! am in sympathy with Mr.. Gibbs policy
with the exception of the 2 per cent interest
to the government for the reason that the
acriculturaliSt or those for whom the relief
is intended have the interest to pay to-
gether with the interest tackled on by the
bank operators, which could not materially
change or reduce the interest now paid to
National banks and money lenders. If this
system should become law by the national
government, it would be absolutely neces-
sary for each state to enact laws restricting
uSurious interest. l am very much opposed
to the Sub-trcasUry scheme, IS being i'm
practible, impolitic and un-Democratic, and
it is q Reputation of the declaration OF prin-
ciples of the Farmers Alliance. Such class
measures would at once demand protection
of the government to each Identical interest,
and no government could maintain such Il
system. If the people are bound to have
something of the kind. think Mr.. Gibbs
idea is the best yet suggested.
MR.. S. NEUMEGEN, WHOLESALE AND RETAIL
DRY GOODS.
think both the sub-treasury scheme and
Mr. Gibbs proposed substitute, entirely in
consistent and impracticable, and hardly
worthy of serious thought.
MR.. s Il. sANDEFER, PRESIDENT FARMERS
ALLIANCE MILLING COMPANY OF THIS CITY
AND FARMER.
The big land owners, capitalists and mort
gage or loan men are generally foreigners,
and it is these that the Farm
ers' Alliances are fighting, and
the view l take of the substitute to the
sub-treasury bill as offered by Mr. Gibbs,
would favor them instead of the farmer.
] never have favored the sub-treasury
scheme, but | think it preferable to Mr..
Gibbs plan. l do not think either practica-
BILE. or regard either as plans calculated TO
give the needed relief.
MIR. II. Il. FoAr. WHOLESALE AND RETAIL
HARDWARE.
My idea of Mr.. Gibbs proposition from
a mere casual reading, is that it has too
much rag-baby appearance TO enlist serious
consideration.
ST.
A,tc