The representative. [volume] (St. Paul, Minn.) 1893-1901, 1893-09-20
TEXAS SPEAKS.

TEXAS SPEAKS.
Fun Text Of the Address Adopted Ut the
Annual Meeting Of tho Texas State AM.
ance.
Following was adopted as the official
address of the state alliance:
The farmers alliance Of Texas in
regular session assembled at Bazette,
August II, 1898, representing a large
portion of the farmers and producers
OF the state of Texas by duly elected
and accredited delegates, realizing the
conditions of extreme danger and gen.
eral depression existing in every sec
ton of our common country, feel it
their duty to make this appeal to the
individual and collective citizenship of
the United States, irrespective of poll
teal faith
The year 1892 witnessed period in
which the per capita production of
wealth of every kind from the mine,
farm, ranch, workshop and factory
was greater than ever before in the
history of the world. No unusual
providential calamity was witnessed,
no unusual degree of drouth, confagra-
tons, floods, or other cause to destroy
property and bring distress took place.
The entire world was at peace and no
disastrous wars had occurred for over
ten years. For the past ten months
and until the present grain crop ma
tured the world was largely being sus-
tanned by said immense yield of wealth
of 1892. Yet while said enormous pro-
auctions were flooding the markets,
busying commerce in their exchange,
an era of hard times has set in, which
has continued, and at the present time
constitutes one of the most appalling
and worldwide panics known to mod
ern times. That this is due to artificial
and not to natural causes must be ap-
parent to the most obtuse. That or
roneously constituted systems of COM
merce and exchange, and unjust laws
and regulations are conclusively the
cause is equally evident. The nations
wealth. which was about thirty-fve
billion in 1850, has in thirty-three years
doubled, and while the population was
only about thirty million in 1860, it is
now over double that number, yet this
vast increase of wealth is now all in
the hands of twenty-six thousand men,
leaving sixty-ive million of people
owning only an amount Of wealth equal
to that owned by thirty-fve million
people in 1870
The business failures of the past six
months and the liabilities involved are
SO enormous as to have no parallel dur
ing the present century, while millions
of able bodied men, anxious and willing
to work, are thrown into enforced idle
ness and tens of thousands are being
added every month to the vast army of
the unemployed. While the ware
houses and shelves of manufacturers,
importers jobbers and retailers are
packed with food and clothing, the peo-
pie are deprived of the means of obtain
ing all the luxuries and many of the
necessities of life. Debts, public and
private, have piled up mountain high
until every part Of our industrial sys-
tenn is honey-combed with interest
bearing obligations, and universal re-
pudiation, foreclosure or bankruptcy
is imminent unless relief can soon be
obtained.
The system of finance known as the
national banks was advocated and en-
acted thirty years ago by men who as
serted that it was intended to furnish
the country with safe and sufficient
volume of paper circulation. That it
has failed in this is attested by the
fact that its paper issue during fifteen
years past has decreased from about
$3.50, 900 to about Sta, OOO, 900, during
which period the needs of the country
for money circulation have largely in
creased. By virtue of the special laws
protecting said system it has been en-
abled largely to monopolize the bank
ing currency business of the country.
It has failed to prove equal to the
emergency to accommodate the most
reasonable demands of commerce, trade
and production, for loans and discounts,
while confidence in its efficiency as
place of safe deposit for any surplus
money of the people seems shaken be-
yond restoration. It now has boarded
vast sums of money, which it claims to
be unable and unwilling to let into cir
culation to meet the pressing demands
for money to partially relieve the ex-
treme situation of almost every indus
try in the land.
This system has for quarter of a
century been so powerful and its profits
so enormous and sure. being the depos-
tory of the peoples surplus money,
until to-day it owes depositors vastly
more money than there is in existence
in the United States. Besides this the
savings banks owe depositors over
81, 500, 600, 600. Hundreds of these ma
tional and savings banks have, by fail
ures, placed the money temporarily be-
yond the control of its owners, while
others are refusing to pay depositors
on demand.
This, with other things herein enum-
Grated, is creating condition which,
in all probability, will prevent large
amount Of the present crop from being
sold for cash at any price. Said nation
al banking system is also holding loans
and discounts to the amount of over
81, OOO, 600, 600.
Profiting by all these advantages it
has become arrogant and, in it's greed.