The Waco evening news. [volume] (Waco, Tex.) 1891-1894, 1893-08-21

interests of the common people of
America.
The bank system has for more
than quarter of century been 50
powerful and its profits so enormous
as to practically defeat any legisla-
ton looking to the curtailment of
Its functions. 1t is the depository
OF the peoples money and should
be held responsible by the people,
but 1t cannot be made to do any.
thing. Hundreds of national and
savings banks have by failure placed
the means of subsistence of the PEG.
pie in jeopardy, while those which
have not failed are refusing to pay
deposits on demand.
This, in connection with other
things enumerated, if persisted in
VIII create such condition of af-
fairs in this country as will make it
Impossible for us to move the cot.
ton crop, and which will prevent
large amount of the present crop
from being sold at any price.
This national banking system
now holds loans and discounts to
the amount of 81 1000, 900, and
1t has allowed its stockholders to
become stockholders in other cor.
porations till every artery of bust
ness has been strained and the crash
has come. Its operation has pro.
duced Il system of inf sted credits
so enormous as to stagger the intel.
lect of the wisest men. Today the
people are loaded with every form
of indebtedness till it seems i'm.
possible to conceive how it shall be
paid.
BY reason of the present strin.
gency and the apparent lack of
money to move the growing crops,
all prices are declining and indica-
tions justify the conclusion that
they will be far below the cost of
production in short while. This
will further increase the general
distress.
Nor has the operation of this
system affected prices alone. The
lands, highways and other proper.
ties necessary to the general welfare
OF the people have become monopo.
lized. The centraliz ,tion of wealth
and the concentration Of landed
estates and incomes, so rapid for
twenty years past, promises to be
alarmingly accelerated during the
next eighteen m onths by reason of
the genera. foreclosures now imi-
nent on account of apprehended
Legislation on finance. On every
side the evidences of distress are ap.
parent, but further enumeration is
unnecessary
There must be remedy for these
things, and it is to y)u we appeal
to lay aside every feeling save that
of our common country and Din us
in an earnest effort to right existing
evils.
For twenty-five years organize
tions of laborers representing vast
portion of our American citizenship
have been conducting schools of
political economy. Social conditions
have been discussed from every
standpoint, and the demands of the
Farmers Alliance and Ind lstrial
Union, concurred in by twenty two
industrial organizations at st. Louis,
in February, 1892. is the correct re.
suit of these schools.
These demands embody the
policies advocated by this organiza.
ton for the permanent relief of the
country from present and future
troubles. This organization and
other kindred bodies in the [ nited
States firmly rely on the sutficiency
of the remedies therein contained.
Your earnest attention is called to
each and all of the demands, which
cover generally the whole field of
economic thought.
During all of these years peti.
tions, demands, remonstrances and
requests coming from these organi-
cations have been urged by proper
and otherwise before
of the dominant politi'
cal parties, and the attention of
state and national legislative bodies
h lava hnndrads of times been di.