Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-04-30
Mr.. FARWELL REPLIES.
He Thinks II a Mistake 10 Place Any Re-
sficlions Upon Corporate
Enterprise
Chicago, H., April %. 1898.

Chicago, H., April 70, 1913.
Editor Gazette:
1 have read your editorial In issue " the
23rd. and o. is very remarkable that We
should have such different ideas, 49, the
real friends of Texas upon the effect Of
the railroad law just passed as to think OF
each others views thus
Good save Texas from her friends" /
don't think YOU really saw one point Of my
letter or YOU would not have quoted the
section OF the law referred to, which permits
a bonded indebtedness 10 20 per cent more
than thc cost Ot tho railroad issuing them.
Texas railroad bonds, and you 80 90 inc
supervisory guardian Of the poor capitalists
In his office Zoo the state house, uud huu
That the state allows you To buy pohds'
which are supposed Geo De- used tO aid stock
holders who have put money in, which
bonds are aO per cent in excess of the uc.
tuu cost ~ the road would you not say To
yourself. as uu intelligent Investor. 81 think
/ have no need N q guardian lust uuWf
suppose Texas really wants railroads, ny
the thousands of miles. lus she dUrs,l ana
size say 10 capitalists, through her laws
III you come hero, we must KNOW Just how
we VIII scc that Sou don't earn more Than
per cent on 10 though Wp admit thut the
building NJ railroads. VIII add 900 Go lOul
per cent 90 the value uf our land which We
cuuIot sell even fu. % song without them
We also pruius" 10 See yuur lcdsrrs hhl
balance sheets. frUul the very start, aud
publish them tu the World.'
How many roads would you grt ii THIS
language was used, and | claim that IL Is,
You sny t was the belief VI those who
passed tile lHw thUI 70 would give STABILIZE!
tO railroad securities" Did capitalists usk
for such % law Are the men who Orlgluut.
ed and passed. % lvd friends " railroads
10 not tury ur Uul rfu friend ~ lrsus
/ ItN
skin him.. us Illinois has dome She dld
not attempt Go regulate railroads. ulil she
got them Io begin them, she asked the
government through Senator Douglass lwhu
had "a large head OF the right sort Co grupplu
Win Her urrlsI Co gltv the lllluulb trhtfW
railroad land enough TO- build IT, This was
before Texas had any Interest lu United
States lands, ur ! should look Tor "a ne.
quest from hpr, uu her present mood Geo
iu" .nueu Siui,s government leo refund lrt
share OF the value Of that uud She lid
not, however usk for q donation OF lands
lu Que section uf the state tu build rui.
roads In unuihcr pnrL as leAna has done,
aud she has not sought 10 regulate them,
before they were built 80 she "Cuught hpr
fox before She attempted 90 skin hun"
! shall npOl igize 10 Texas, most certainly
nud cordially, whom sutthcd mat / have
done her uu injury by word or decd. um
honestly doing the best / know, 90 deserve
Der praise aud gratitude with great cost
both ut money ana nerves. thus fur, uud
10 ls more lu sorrow mu5ly uf uuuuyil
SORT TINT / am Obliged 90 object Go hpr
mudr uf Inducing capital Investments Ia
hvr borders
Do rs hordy fir 10 Texas 10 claim upt
she las given more 10 railroads ,hun ull
other states put together, when The United
sllirs paid all her debts unl rHlluuulshed
AN claim tu her lands, when she vjuut into
the Union. Uncle sam paid hvr money,
Will" }pu bought thcm with Alamo blood,
and "a l.- lvhJ
. agree with YOU that the people ~ Texas
uruts iu thrlr static. but You must Doc aware
llui hulh la England Huu Zoo mis- country,
your nlitu lave. Nud railroad laws have
been severely criticised, uud thHt thr alien
law WlH repealed hcyuur foreign capital
WIS called lu so rapidly That thi- practical
demonstration ~ llH effect abolished ull
theories uf the old law hpfurp the lpgislu-
stir nap again The prvJudivvs uf capital, tpr
the hvurlt or railroads now built, which
do NOT Wuut nny competition, uud thus pre-
vent competition 10y the building ~ new
ruuds hy such supervision ANA regulation of
railroad business as prevents old oups from
making dividends, ana new ones from being
huiltf
Tho Impression among capitalists II that
the laws OF Texas Do this, N they do not.
then / uW Zoo error, with mary others. who
now honestly think so. N your Legislators
alien law, to ind that lOuus were called 900
right and left, they should mrud thVlr thpu-
rvuch railroads laws to meet the facts
which railroad huanccrs ANA capitalists cun
Hcc very punly, ana keep out or TcNus
severely.
There should be moro money pouring into
Texas than amy other new state FOR railroad
building is thrrct assure YOU i have
mo- No VIII AGAINST Texas Zoe this matter,
nay Interests demand the exact opposite,
aud hence J know that this discussion iu
bitterness ON either side, You want the
people to know The truth SO dn l. Have
failed again to give q uasun Cor llg faith
that IS Ina met JOHN " FAliNEll.