Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-08-07

THE ALIEN LAND LAW.

There is one feature, and that the
main one, Of the Gossett alien land law
that is not understood by great many.
1t is commonly believed, and by many
intelligent people too, that the law per,
| mits aliens to hereafter lend money on
Texas land mortgages, and gives them
six years in which to part with such
parcels Of land as they may have &C
CURED by foreclosure. That idea is
| wholly erroneous. Article 10 OF the
law reads: NO alien, or person who
is not a citizen Of the United States OF
America, shall acquire title to or own
any interest in the lands within the
state OF Texas. and any deed or other
conveyance purporting to convey such
title orainterest to any alien or unnatur-
allied foreigner. or to any firm, COM
pany Or corporation composed of such
in whole or in part, shall be void
Aliens who took mortgages on land
before the law went into effect can ac-
quire title to the same. but must part
with it in six years. If that proviso
had been extended to loans made after
the law went into effect, that is to say,
if future loans might be secured in the
same manner, and six years allowed
for a disposal of the land acquired I'M
der foreclosure, there would be no real
cause for complaint. Under such a
law no alien could acquire land by di-
rect purchase, and those who should
secure titles under foreclosures would
be compelled TO part with them to citi-
zens Of Texas, or, at any rate, citizens
Of the United States, within period
of six Years, under q penalty OF an
escheat to the state
The law 50 altered from its present
hideous and abnormal shape would not
be one particle less prohibitive than it
IS now of alien ownership. Itwould be
a barrier as formidable against it as
law could make it. and at the same
time would leave Il channel open for
the ingress OF foreign money with 4
reasonable time for its owners to collect
and retire it after it had accomplished
its purposes, which all recognize as
beneticent. wholesome and salutary.
A New England syndicate may come
into Texas and loan money right and
left at rate Of interest higher than
that demanded by alien syndicates, and
in the course Of time, by foreclosure,
may acquire large areas of Texas land
which it can hold out OF the market for
4 century if it chooses. An alien syn
dictate acquiring land under the same
law, and on loans made at lower rate
Of interest. too, would be forced TO part
with it inside OF six years. Now which
of these syudicates would be the better
friend of Texas and her people? Any
simpleton can see that the odds are
largely in favor Of the alien money.
The law as it is now simply throws
Texas. bound hand and foot, at the
feet Of the Eastern loan syndicates,
which are given monopoly OF the
business in the state, with power I'M
checked by competition from abroad
to place the tariff as high as the traffic
will bear, and by squeezing the I'M
lucky borrowers, gobble up land in
Texas as they did in Kansas. Common
sense Of the very commonest sort can
see the stupid and pernicious folly Of
such law. II is ruinous and disas-
trous. and should be amended. Pro
hibit alien ownership, if you desire,
but don't rebel against alien money.
Don't cut off your nose TO spite your
face. \ slight modicum OF sense and
reason. and a correct understanding of
the evil effect Of the law, ought TO be
sufficient to bring every sane man in
Texas 10 THE GAZETTE's position on
this subject.