Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-11-05

'' - btthul ht DAhAfF
Have the Right to Make For.
eign Coins "A Legal Tender
Reciprocity with Countries
Recognizing SILVER.
Speech or col A. C.. Fisk, President Of tho
ran american Bineiulllc tssuclation. de
llvored ~ tho Bluittt 10 Convention. held
at st. Louis, NO, October 3. 1881
We have been called together for a
patriotic purpose Believing aa we do
that existing conditions are more favor.
able to some sections OF tho country
than TO others, and believing that all
neciions are entitled 10 enjoy the fruits
Of their labor, IL should be our purpose
to inaugurate measures, and 90 Tar as
possible carry them into execution.
which ahull tend 10 tho upbuildug aud
prosperity OF every section Of our com
mon country,
The creating OF a debt with a certain
volume aud kind Of money and the con-
traction NJ tho volume, and change OF
the standard inure 10 the beueiit Of the
creditor aud work hardship ON tho
debtor The construction u railroads
which aru Tor tho use Of all the peopa,
and burdeuing them with n debt far In
e1eesn VI their cost rs an oiIenaO against
the people, who are compelled TO pay ex-
cpssive rates TO maintain fixed ChnrRes
OF divldends and interest. The permit.
ting OF our foreign carrying trade 10 do
cranse, that the balance OF trnde may be
hgalnat TINS country, Ia grave mistake.
I1e policy Of transporting the produoia
OF our fnrmH, and all orr raw material
AcrosB the continent Rndreturniug them
Ia manufactured articles In order to di.
vide our pruhiH with transportation
companies 10 understandable. Tho per
hitting OF foreign nations to dictate our
legislation, Thereby forcing down tho
value NJ products OF labor the crushing
Of our farming and mining interssta. In
tho Inherent Of foreign powers, the i'm
poyeriahing Of the many 70 enrich the
tew have become mnttors Of serious con.
Germ 10 every thinking mud. 10 cor.
rect those evils aud formulate plnns that
ahall lnBure greater prosperity 10 the
whole country, ia what wo are here TO
consider,
The length OF operative lines Of mil
roads In lhis country Ia about 10000
miles. Their gross earnings aggregate
about $1,000 100000 The common stock
ia silBpNOOOO Preferred stock s607,-
lo0OOO. funded and miscelIaneoua dehts
G,6lONOl,OOO other torma Of indebted
neaa siJi 100000. This mnlSns tho rail.
way cap tat composed OF stooSs and
b ids s9,iGl0O1,O0O, an average Of over
10000 per mile, No one laowa. even
approximately, the actual value OF these
rohdr but the capitalization and bonded
debt 10 many timea their cost, anu TO
meet The dividends aud interest pay.
a..
-iilioua OF dollars. How To eliminate
Inc n or from this vast Indebtedness
quegtluu which should commnbd
tho Immediate attention OF the people
~ 10 believed that the people ara com.
poled 20 pay mora than e5OlOO1OO mn.
nually TO meot dividends on walereG
GtoJks and bonds.
The government ownership OF rnil
roads hrs been suggsdted. Theaolutjot
OF thl1great question should be- eliminnt
cd ~ fhr posaible from partisan mol
tiles and eopedcred by the people In
businees way. One great step toward
the eolnhon ~ thie quogton, 10 the i'm
proYement OF oar rivers and WATERWAYS.
u government ownership OF railrnnds
be not desmed advisable, the Statea
and communities should ascertain their
value mud rntea should be Fixed by lrgia.
lnton 80 that neither interest nor div.
ldends could be paid In excess Of thor
uotunl value Should this force the rail,
ronda into insolvency, that would ba no
concern Of the people They have
nothing, whatever, TO do with The fnct
That soma people bought Initiated stocks
and bonds, The CRY Of dishonesty might
he rnieed, that people were to be deprived
" their Pitmate Investments Those
whn pufoh lse Western town lota Ri
luHs,ed prieog never think Of seeking
redress from the town sito boomer WHOM
she collapse comes. Why then should
those holding + ilated aeouritiea, bought
~ IN sir own risk and poril, complain DO.
cause an outraged nd sulfernR ppople
Who have Icon lundeIod for yeafa "a
,ay uniuat iuterest anu utyideuus shooio
SOW demand that their Inflated eacnr-
ties be scaled down 10 honest
Values IN the interest OF the people.
There "a no way out NJ the serfdom of
the people 20 long as the rnilronda re,
main N tho HANDS OF individuals and /
roniiuur to plumber Tho great arteries
" trade must be under the control u I
state or geueral government btore tile .
penplo WI be emAnc pNed The peo.
pie should not be taxed Tn pay ehAiges .
uh pnt ccht lnf wHter and II tha ~. rs .
Cannot be induced 10 eel, the aie OF i
general government ehuuld const. uoi
con petlng lines 70 carry good8 AZ such
q figure 40 would make money Tor th,
road, mud NJ tho Reme ime render ii i'm,
pcss'0lo to pay dividends on wr.prsd
stock.
The Western anil Southern States
produce thr wealth IL this country, but
by meane % ioslerlng The great corpora,
lions, the rallroade, tho ,rusts and com.
olnea' aud the bankers, the wealth OF /
me many 70 transferred to a few people
lanlio soaboGrd aud Europe. The wea Ii
must ee retained in tho Beovons that
produce it.
Ihere are over two billion bushels OF
corn Produced in the United states. ii
equally and ratabiy distributed among
Tho people the State Of Alabama should
IN 4nalaaa - MY