Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1895-02-03

company uHuel TINS ipoMoth bllt WIZ.
1t becomes a law, how would they
Thcy would sell 100000 worth Of
stock for cash. take out a charter,
lend out their capital upon approved
securities, and 90 10 work. The per-
centage would be largely in favor OF
their paying working expenses and all
losses from the start; provided. OF
course. the management was wise ana
conservative. for the business has been
reduced to q basis upon which loss ~
next TO impossible find IN the Pocket
Index which have before me the
names OF Fifty companies, and OF that
number only four lost money during
the year 1893. Nlnety-twc per cent OF
the life Insurance companies made
money during the hard year OF 1886
what percentage of other enterprises
dld so2
II is said that of all commercial
pursuits only per cent are successful.
yet OF those peculiar enterprises W
per cent made a profit In one oil the
most disastrous business seasons that
over entailed loss upon the business OF
the country.
We'll, II the management OF one
Texas company was wise and Judic-
ious and II the people rallied to It's
support as they ought 10 do, and II
ton II continued TO invest its earnings
In Texas enterprises and to relnvest
the interest thereon in the same man
ner, as they should be invested, the
effect would be TO make money more
plentiful, to lower the rate OF inter-
ost. 10 build up other commercial On.
terprise5 and TO aid in the general
prosperity and upbuilding oil the
staotc.
The trouble with Texas is that the
money thnt comes to her comes In
return for that which when once sent
away can never return.
Is &c for timber2 Then It Is in re.
turn for forests that are destroyed
forever.
Is Il for cotton2 Then :. represents
toll and labor, the struggle Of mind
and body thar are expended once ana
forever.
Is It for cattle or sheep? They go TO
The slaughter pen and from there TO
the consumers table ana though their
successors grow and thrive and iatten,
themselves return no more to Texas
pastures.
Every dollar we get represents de-
crease Of natural resources, impoyer-
ishment Of soil, or expenditure OF time
and labor.
1t ls the evidence Of actual wealth
once POSSESSED but now gone for
ever.
on the other hand-
We pay out millions annually for In
terrst which represent to those who
gct II nothing but the "unearned IN
crement" upon dollars every one OF
which Ia returned to them.
n you sell something for money, you
have the money and the purchaser the
article sold; but IL you borrow money
and pay Interest when the debt ma
lures, you pay buclS the money, dollar
for dollar, that you borrow-the use
fulncss uf not one impaired=and mean
time the owner, who now has his
money back, has enjoyed what It
earned without decrease Of strength or
waste OF energy,
The futher OF two sons died. leaving
one 100000 In money and the other
100000 worth OF timber land. Mother
one would work and each required $40
600 n year for living expenses. The
man who had the money had II out
al 10 per cent interest, upon which he
he lived; the other sold $4,000 worth
OF timber each year and spent the
money. At the end Of ten years the
500 600. while his brother had q
large number OF acres of worthless
stumps
New York is the brother with the
money-roxas the one with the land.
New York is living upon the "un-
earned Increment" that accruos to the
oreditor-'rexaB is busy In the effort to
earn and render up this Increment
which keeps the debtor struggling and
Impoverished,
The uurlvHled soil and unsurpassed
climate OF Texas will prove disudvGn-
tngeous If they shall operate to keep
the citizens of the state from giving
some attention to those forms OF cont
mcrcial enterprise which bring wealth
10 individuals and communities without
an agency OF physical EFFORT and a
rapid dlmlnuton OF material resource
| Tho sterile soil Of the New England
/ states drove them TO depend upon
1 other than natural advantages for
| wealth and power, and they have laid
| the fertile South and West tributary
l to the shrewd financial scheming and
/ incXhaustlble business acumen of their
/ people The South and West toll
and labor and exhaust themselves In
! productive effort that the North and
East may enjoy the usufruot
There is time to stop-and It IL
now
There In timc to consider and
adopt those business methods that viii
| enrich and not weaken-and II ~ now,
There IL time to begin the work
OF turning the How of money toward
| and not against us-and It IL now.
And the reason 1t Is now is because
we cnnot turn back TO periods past and
begin those things in the time long
gone.
This bill Of Senator Bowser's Is a step
In the right direction.
IT'S direct effect would not be ap-
parent for years TO come, but 1t would
probably prove but the beginning OF a