The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1891-08-06
THE TEXAS ALIEN LAW.
1t will Cause the Withdrawal of $50, 900, 900
from the State.

1t will Cause the Withdrawal of $50, 900, OOC
from the State.
From the Dundee (Scotland) Courier.
1t is fortunate that we are able to-
day to supplement the information
, contained in the London Letter of yes
!; terday's issue of the Courier by Civ
ing the actual clauses in the Texas
Alien Law to which our correspondent
referred. Investors of money in Tex
as are now made acquainted through
our columns with the whole situation,
and will therefore be enabled to
judge for themselves in what way
their interests are affected The Sc
crecy that has been observed through
out is not the least surprising feature
connected with the passing of the
new law. According to the intelli-
gence which has reached us, the most
careful arrangements were made to
have the bill carried through in such
manner that likely opponents would
have no knowledge of the business
that was being transacted. The con-
sideration of the matter was put off
till the close of the session in order
that it might be passed aud duly
signed by the Governor before the
people were even aware of it's
existence. 1t seems too that
there was sent privately by the
promoters of the bill to those MEM
bers of the legislature whose support
could be relied upon an intimation of
the day and hour at which the
measure would be introduced. TAX
ing advantage of peculiarities in the
Texas constitution which in this coun-
try would certainly be regarded as
dangerous; the authors Of the bill
dispensed with the fOrmality of pre-
liminary notice, and thus succeeded
in passing a law vitality affecting the
future prosperity of the state without
disturbing the equanimity of senators
elected for the very purpose of render
ing the enacting of such legislation
impossible. In Texas itself the news
of what had occurred appears to have
travelled slowly, and it is beyond
doubt that in this country only q
favored few knew anything about
the matter before the publication of
yesterdays Courier. Within the
past few days reports have been
issued by mortgage companies
that have money invested in
Texas, and in these no reference has
been made to an incident which was
of great Importance to the sharehOld-
ers 1t is to be presumed that the
reason for this silence was the fact
that the directors were ignorant OF
the strange course that had been taken
by the Legislative assembly at Austin
In another column we reprint from
a Texas newspaper a wholesale con-
domination of the trick the legislature
has played upon the inhabitants OF
that state. Every word Of that con-
demnation seems to us to be justified.
A short-sighted policy has been
adopted which sooner or later will
have to be abandoned. 1t is most
unlikely that Texas will have a diff
, ferent experience from that which
has been gone through by
other states that have tried sim
liar experiments. Under the Law
as it stood money was becoming
cheaper and good facilities wers
. consequently enjoyed for developing
the resources of the country. Now al
, that is changed. The check placed
upon the influx of foreign money may
benefit local usurers, but will certainly
affect prejudicially the fortunes of The
, bulk of the population. In an old
country like Scotland it might be adj
visable to restrict aliens Of the STAMP
of Mr.. Winans from interfering with
the management or possession OF one
of our estates, but the circumstances
, are vastly different in Texas. Land
there is plentiful, while money is
, scarce, and if fair progress is to bt
, made in the opening up Of the great
, tracts of territory outside assistance
must not be despised. Yet the
Texas legislature has virtually
, declined help from home as
well as from foreign lenders. 1t ha:
: prohibited any firm or company from
: acouirinp title to real estate if single
member of it is an alien-a provision
which will fetter the action Of dOmes
I tic as well as foreign loan companies
$ as considerable difficulty will, in al
p probability, be met with in keeping
Il OHlleu DIdltS NV liNii
$ contact with alien stockholders. 1t i:
t estimated by the journal we hav'
S quoted in another column, that owe
J, e1O, 100000 has been lent on rea
V estate in Texas. The rapid with
r drawal of that money cannot fail t.
l. cause much Inconvenience. But thu
: Farmers Alliance, needless o
il the probable consequences, il
l. reported to have given it
IL countenance to the measure. This Al
h lance is very powerful organiza
e ton, and it is not easy to understand
o the motives by which its officials hav
Is in this instance been guided. Surel.
h the farmers of Texas do not intend t.
is repudiate their obligations like tn
1t members of the National League il
l. Ireland. 1t can hardly be imagined
, that they have resolved to dishonest
il ly depreciate the value OF land, ant
Up to use the influence of the Alliance il
M laaDin0 tnnontc ont of farms take