Daily Texarkana Democrat., 1893-10-04

American Bimctallic conference at
St. Louis, has just been made
public:
Executive Office, Little Rock, !
September 30th.
To His Excellency, Gov. Stone:
regret that business engagements
forbid my Attendance upon the meet
ing of the Pan-American Bimetallic
Association, which, from your letter,
seeks to release the South and West
from commercial dependence upon
the East, in so far as this dependence
is detrimental to our mutual prosper
ity.
The attitude of Eastern wealth, so
thoroughly combined and organized,
as only wealth can be, is not only the
great obstacle to the development of
the West and South, but it is breed
ing discomfort which is alarming.
and which appeals to American
patriotism with unwonted force. No
sensible and patriotic man will object
to the legitimate accumulation of
wealth. l share none of the usual
prejudice against wealthy men. To
accumulate wealth honestly is a duty,
and ought to be an inspiration to
youth as well as to age. But true it
is, and sad pity it is that it is true,
that the wealth of the Eastern section
of our country is and has for thirty
years been sowing the wind and al
ready a harvest of whirl wind is
ripening for its garners.
During the late war, when the gov
ernment stood in sore need of enor-
nous revenues, manufactured articles
(mainly from the Eastern States) were
taxed to produce those revenues. But
before the manufacturers would sub.
NIT to it they insisted upon the gov
ernment turning over Its taxing pow
er to them through protective tariff,
that they might be compensated"
from the pockets of the consumers for
what they paid out in taxes to the
government. This tariff was openly,
unblushingly and without any dis
euise, denominated "compensating
tariff" When the war closed and
those large revenues were no longer
needed, every species of tax was re-
moved from manufactured goods; but
the "Compensatlng Tariff" upon the
consumers, chiefly of the West aud
South, was not removed, but has
been steadily increased until it has
eliminated in "McKinleyism," The
recent census disclosed startling re-
suits, which should arrest the atten-
tion of every thinking man in the civ
ilized world, II will be seen flom
this census that Rhode Island, one of
the beneficiaries of this tax, has grown
in wealth during the last decade up
ward of $1I000000 more than the
two great Western States OF Indiana
and Illinois and the two great South
ern States of North Carolina and
South Carolina all combined, although
these four States are 140 times as
large as Rhode Island, and had in
1880 twenty-six times as many people
toiling for wealth.
This census also shows that Massa-
chusetts, another beneficiary of this
system of legislation, has grown in
wealth during the last decade upward
of $11 100000 more than the ten great
Western and Southern States of lndi-
ana, Illinois, Iowa, Nebraska, Alabama,
Georgia, Mississippi, Louisiana and
North and South Carolina all com.
bined, although these ten states are
thirty-one times as large and had in
1880 nerrly eight times as many peo-
pie as Massachusetts. Pennsylvania,
another beneficiary, has grown upward
of $1S,OOO,OOO more than thirteen
states of the South and West, inqlud-
ing the boye and Kansas, Kentucky
and Florida, New York has grown
upwards of $7ooO,OOo more than six
teen states, including the above
MONEY LEoIsLATIoN.
But in no instance has eastern
wealth shown Its recklessness Of the
rights of others in so marked a degree
as in the history of money legislation,
enforced by its organized power
When greenbacks became deprecioled
about 60 per cent, the government be-
can to sell bonds. The Northeastern
States OF our country were the largest
domestic purchasers. They bought
them for greepbscks at 40 cents on
the dollar, and they were by contract
PAYABLE in the same currency. To pay
them in any other money was de-
nounoed by Hon. John Sherman aa