Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1892-03-24

ming it ought; but it won't, and the result
best be that the American woman will ris
let in her might and 20 through the sun
5lna- with an uncurled bang, and look exaci
OF if she had escaped / IN Sing Sing.
and THE FUTURE OF THE BANG.
their It is not a pleasing outlook But
nave there are great many things thatas
do pleasing. It is just possible th911ed so
gen question may not seem Of great SaiIv
an to mankind; but assure Tnndidate for
IMAM until we women get it no from one
ages the future of the banejasss ,,o+ ,,,iy,
1e the best tempers their motives tssi'i or
at ter how upset hes tbat move them
4 4in1 does IKE a wo}IGir written request to
itiss orc ms condition of affairs i at
9oIHs ~, for I viii not ask nor do 1
LSitS Office in this canvass but the
10. W d p g out of joint, and your request to
' Las after your uniform support given me
!, 81 ~ very aspiration for more tban quarter
~ 4 century, came to me with the force of
a command. If some rays of light can now
be shed on conspiracy Of the money power
to capture the political machinery
of the state and place under the heels of
corporate power, the reflection that good
has been done viii be an ample reward.
FINANCIAL CRISIS.
The people of every Southern state are
passing through a financial crisis; the
times ara suspicious for political quacks
ana DOSGrQlllS. Leu US luGE6lOEC pause lOE
d myfnent and explore the situation. Be
foe your legislature of the past year had
considered a single law, the world was
startled by the news that the strongest
banking house of England, operated by
Barring brothers, was threatened with
bankruptcy. English capital had invested
in the worthless securities of the Argentine
Republic and South American states, to the
extent of over $500, 600, 600, and was floating
on a bubble If the Barring brothers
failed. universal bankruptcy would follow,
and so, for the first time in the history OF
the world. the Bank of England, without
waiting for the action Of parliament, or its
stockholders, came to the rescue OF private
bankers and guaranteed the payment of
their debts for over Sl50000,00 But its
guarantee was limited. The news of this
danger fell like an electric shock on the
financial circles of the world. Capital
grew timid. and British gold was ordered
home from America. That gold had been
buying up American industries. The coal
fields OF Pennsylvania, and its iron forges--
the brewerieS of st. Louis and Chicago
the paper mills, nail factories, cotton
mills-and all our industries were being
rapidly bought up by English money and
consolidated in trusts. You will remember
how it was published that even the slaugh-
ter house monopoly of Chicago and the
mills of Minneapolis and St. Paul were
about to pass 20 English hands. All this
suddenly ceased, and why2 Financial conf
dence was rudely Shakened by the threat
ened failure of the BaringS' and
England needed all her capital Her
United States securities, railway bonds and
stocks, mortgages, and the like, were
thrown on the New York market and con-
verified into gold, until over seventy mil
lion, not in checks, but hard gold, was
drained in a few months from our great
money centerS and returned to Great Brit
ain. Now, mark you, the New York pa
pers announced that foreign loan companies
had ceased their loans and even in Texas
no county record will show one single large
loan Of money from the hour when the fail
ure of Barring brothers was announced and
that drain of gold began. Our own banks
began TO strengthen their reserves. cal in
their loans, and prepare for a crash All
this was weeks before any important law
was passed by the legislature.
MONEY PRoYERBIALLY TINID,
refused to neutrality-suspicious. was shaken
and though we escaped a crash, trade was
paralyzed, speculation ceased, and the
debtor class began to suffer with financial
grippe"
PEOPLE UNPREPARED.
Never in our history did threatened
crisis find the American people so unpre-
pared, for wild speculations were on foot
everywhere. Every city was booming, short
cuts to fortune by constructing belt lines,
electric roads, and the like, tempted the
peol le of every city in Texas. Farm lands
were cut up in town lots and parks and
pleasure grounds were laid off where the
pillow should have been cultivating grain.
Thus imprudent debts oppressed the specu-
lative classes in cities and towns, and when
payday came, the banks though gorged
with money, refused to lend. Then our
specializing friends thought some
body had blundered." No gentle
hn rO crnt riph Ofh
peoples money ever dreamed that he him
self was the blunderer. Youmay talk about
hard times, and the stagnation of business,
caused by statute law; but the curse that
follows wild speculation and inflated credit,
when the day of settlement finds people
unprepared and in debt, after the bubble
has burst. is curse of our own creation,
which has its root in the avarice of man,
more than in written laws. In this crisis even
the blessing of full harvest was delusive,
for we had made 2, 100000 bales of cotton
more than the spindles of the world could
spin, and cotton fell to 81 cents for the
first time in forty years. When in trouble,
we love to blame everybody but ourselves.
sCAPEGoAT FOUND.
A scapegoat was needed for the sins of
our speculative Israel. The Texas legisla-
ture, and our railway commission, would. i
Just fill the bill. They had long pestered
the railway magicians of Wall street, and
with her vast domain, was now in the en-
brace of protecting laws to guard her peo-
pie from their plundering. OH If she |
could only be released once again to pay
tribute in freight rates to those kings of the |
highway, with no power to curb their |
avarice! And so they whispered to their |
chosen lobbyist and attorney, ''The people |
are blowing; 90 forth to the cities, and cry |
aloud: Turn Texas loose" He obeyed, |
and in cities loaded with debt, little army |
of unfortunates printed this battle cry on |
blue ribbons and without shame, Haunted |
them on Texas soil, in the sunlight of |
heaven. If we can believe the press, in |
one city their champioG, like Roman con-
sui, returning in triumph, was conveyed in |
a chariot drawn by white horses, while |
eX-railway presidents, hank officers and |
real estate SPECTATORS, like Gallo slaves,
walked on foot behind him. He who had |
posed in the newspapers two years ago as
the bitter enemy OF a railway commission
he whose opinion had been rebuEed by the |
people when they changed their constitu-
lion so they could demand a railroad COM /
mission say this man who mingled at the |
last session q the legislature with brother |
lobbyists in the lobby and signed his |
name George Clark, attorney for all the |
railroads in Texas except two" now in /