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

in patience until we can secure a sound
! Democratic administration in 1892.
! non. L. L. HOOD, REPRESENTATIVE STATE
| LEGISLATURE AND ATTORNEY AT Law.
| Yes. sir, | have read Governor Gibbs
| bill. and think it extremely novel in design.
| il my opinion it Is even worse. if possible,
! than the sub-treasury scheme; for by that
| theory the farmer would only lose one-tifth
| Of his farm products, while Governor
| Gibbs would take both land and product.
| This system would peon the masses OF the
| American people with the government as
| their master.
My understanding all along has been that
| the farmer was clamoring for the abolition
| Of the mortgage system, but il seems that
| part of them, "a small part | trust,) are be-
! ing decoycd into . scheme that would rob
! them of the last vestige of their earthly
| goods.
| When Gibbs and some other politicians,
| as well as the people, learn that ali money
| IS made by honest labor, and none by pass
| ing resolutions in political conventions;
| when they learn that the government can,
| make money, but can only coin and regulate
! the value thereof; when they learn that the
| people must support the government and
! not the government the people, then we will
| have reached a better understanding, and
| can see the dawn Of 4 more progressive era.
! No, Gibbs plan would do, for in front Of
! every bank of circulation. we thing we see
| more darkness than relief.
! JUDGE y NJ. DENNIS, ONE or PARKER
COUSTY's MOST SUCCESSFUL FARMERS
! nave seen the recent deliverance
! by Governor Gibbs. His proposed
| bank bill is q daisy Its author
| IS evidently inspired with the fnan-
! CiaI conservatism Of John Law, tempered
| with the nice moral discrimination of Jack
| Cade. lie shows himself fully alive to the
| present exigency, and determined that no
! third party interloper snail get away with
! his political burn; that while McCune may
| plant and Stump Ashby may water, Sarney
| alone giveth the increase. Viewing his
! party simply rs an organized appetite, he
| cannot conceive it as having principles to
| maintain or pledges to redeem. But yester-
| uay declaring against national banks, he
| would to-day permit every farmer to
| become national banker. Deploring the
| existence of the present national bonded
| debt, he fOrmulateS and promnlgateS q
| scheme. which may possibly augment that
| debt to the amount of $3.50, 100000 He
| sees no danger 10 the business of the
| country In Il sudden and enormous infia-
| ton Of the currency, nor dishonesty in the
| payment of a debt in 4 currency worth
| many times less than that in which
! il was incurred. He sees or prctends TO
| see how every man may easily improve
| his condition by going in debt.
! VIII lie on pay day show him
| an equally easy mode Of diSchdrging that
! debt with its accumulated interest My
! perception may possibly be impaired by
! age-I at any rate see as little TO commend
| in the Gibbs scheme as in the sub-treasury.
| Both seem 10 me Undemocratic and absurd,
| and both bearing something more than a
| mere favor of dishonesty. / believe that
J neither will find favor with the masses of
| our people Barney seems to have had Il
| premonition of the fate of his proposition
| when he invited ANY common Democrat TO
| give it hell in his own way" an invitation
| which / believe will be most generally and
| joyously accepted.
| MI. W. W. DAVIS, PRESIDENT FIRST Ma
TIONAL BANK.
I think Mr. Gibbs bill or plan entirely
| impraCticablc, for the reason that he re-
| quires the possession of real estate as
basis of circulation, whereas II has been
| universally acknowledged that one of the
| redceming and most successful features OF
| the present national banking system Is the
| avoiding real estate securities altogether
| In the most thiCkly settled portions OF the
| country it would be almost impossible TO
| organize banks on his plan, as it would be
| quite difficult to find lands enough outside
| OF homesteadS on which 10 obtain the
| requisite amount of money, especially so IN
| Texas. Another very serious objection to
| his plan in my mind is the parties he Sug-
| gests as appraisers, as 1t is not orious fact
| that pOstmasterS generally know least
! about real estate values. Mr.. Gibbs states
| that under The present national banking
| system loans cannot be made on farm prod
| Ucts. In this he IS entirely mistaken. as
| the national bank law prohibits no col
| laterals except real estate and its own bank
| stock. and the largest loans are really made
! on cotton and wheat. / think he grossly
| miSrepresents the secretary of the treas
ury in his efforts to relieve the StringencE
of the money market during 4 threatened
| panic. IS we all know that Secretary Win
I dom came 10 the rescue OF the country last
| fall by redeeming bonds and paying inter-
| est on bonds in advance. His wholesale
| disparagement Of the abilities Of our pres
| ent congressman shows clearly that he is
| endeavoring 10 raise himself in the estirna-
! ton of the farmers OF the country, and 1t
may be expected that Barney will be heard
from later on in more decided way. MIR.
! Davis suggests that an Improvement on his
| plan or the sub-treasury scheme would be
| for the government to issue . per cent
| bonds for national banks only, and allow
| them 20 issue their circulating notes TO the
full amount of the bonds held by the banks.
He thinks the present national bank system
| is the best ever given the people and that
| we had better hold onto il until we know
we have something better.
Mr. L. W CHRISTIAN. MERCHANT AND
| FARMER.
| do not think either the sub-trcasury
| scheme or Mr. Gibbs proposed substitute
| al all practicable In the first place there
are none OF the good farmers but what can
| buy al the goods and borrow all the money
| they need from the merchants and banks.
| What the farmers most need in this country
| is to open the markets OF all parts by taking
| of the prolibitory tariff or reciprocity
| and give, us q market for our products in
| foreign countries, and their agricultural
lanGs will enhance in value, and the farmer
Will take more interest and pride, and be
better satisfied. Lots Of this talked-of