Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-07-13
REFORM.
The People Demand Such Legislation as
viii Relieve the Country from its De-
pressed Financial Condition.

AT no period since the war has there been
such q depression in business and strin-
gency in financial circles IS now This is
evident from the fact that it is almost i'm
possible TO get money on the best security.
We are Informed that in our towns and
cities the best paper is being heavily dis
counted TO obtain ready money to meet
pressing demands and save valuable prop
erty from foreclosure. The Stringency is
more painfully evident in the country
where there is no money to procure the
actual necessaries, the merchants having
carried the people until they are forced to
suspend supplies. In the grain regions re
lief to some extent will be extended, but
the present stringenCy is depressing the
market so that the farmer cannot realize
fair profit. Northern wheat was worth
81 Is to Sl.25 at our mills few days ago,
but on the opening of our market has sud
denly fallen to - cents, d decline of from 30
to 40 cents on the bushel. Our farmers are
hot over this heavy decline. 1t Is strange
why our home mills can't pay st. Louis and
Kansas City prices, S112 to 20 cents, and
make handsome profit, if Northern mills
at these prices can ship -four to Texas at 4
profit. This heavy reduction is bad move
aud increasing the demand for the sub
treasury TO be able to hold for better prices.
The general pressure in finances influences
this decline. A few more dollars
in circulation would enable our farm
ers to hold for fair prices and also
stimulate competition. The how and in
what way financial relief will come is the
ISIS ue. With an empty treasury at Wash
ington and large probable deficit to meet
by the incoming administration and no
coin in the treasury on which to base
treasury notes. how is relief to come to
avert great financial panic? We have
seen many propositions from leading
statesmen. Question: VIII the slow pro-
cesses proposed throw money into circula-
ton in time to avert great calamity? Large
government obligations and private debt
pressing on every hand must be met,
and relief must be speedy. VIII our next
congress grasp the situation and avert
4 general bankruptcy? The child is very
sick and very little time to discuss cause
and effect, remedy is the demand. WHAT
is the difference between ruin caused by
millions OF homes being foreclosed and
lost or governments destroyed by war? Our
scountry passed through the war ordeal and
was saved by the government exercising
its sovereign power in the issue OF legal
tender paper. No wild imitation needed
now, but suf1ciency of money to meet the
expenses of government and relieve the
depressed condition of the country. Why
cam the S346 000, 900 legal tenders which
have been in circulation since the war and
at par with gold for twenty years, which
the supreme court has decided is constitu-
tional money, be increased In SUFFICIENT vol
ume to meet all legitimate requirements,
being made legal tender for all debts, pub
lie and privateY No power in this
government could depreciate it. The
people have learned that they are
preferable to gold in all transactions of bus
mess and no demand would be made by the
people for their redemption. This redemp-
ton idea is a great humbug used by those
who wish to contract the volume of money
to gold standard basis to extort high rates
of interest from the people. Again, it is
argued it is not the money OF the world and
will not pay foreign debts. Our exports
largely exceed our imports, making foreign
countries our debtors. This balance of
trade in our favor will furnish enough gold
to meet all requirements. Such arguments
that the government is not able to issue and
maintain a sufficient amount of legal tender
money to do the business of the country and
keep out foreign loan agencies absorbing the
wealth Of the country and ieopardizing our