The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1896-09-10

been successful in 1892. Conscious OF
| approaching and certain dissolution, the
leaders here appear to De endeaYorlne
TO prolOng its existence until the election
by Il coalition with republicans, the most
remarkable political miscegcnation ever
proposed. But if the governmental pot
icics were feasible through its organiza-
ton, its dominant principles put into
operation would destroy our form of gov
eminent and prove utterly disastrous to
the country. They seek TO consolidate
the government at Washington to more
alarming extent than the republicans.
FcdcralistS and republicans never pro-
posed Il more centralized and absolute
authority. Almost all matters affecting
personal. political and property rights
under their theory is rcfcrablc to the ma
tional government. Not only would II
accomplish Capitalization, but pOpulism
is the most aggravated and advanced
form of patcrnalism known to the world;
compared with it, feudalism. with ITS
lack of sclf-reiancc and individuality,
was beneliccnt condition of mankind.
Though free government was originally
instituted and is only designed to pro-
tpct the citizen in the enjoyment of life,
liberty and property, popullsm would
degrade it to II money lender, Il vendor
of wares and merchandise, the partner
and the guardian of the people. Mas
uucradng as followers of Jefferson, who
declared that the government is best
which governs least, every characteristic
and distinctive measure of the pOpullstS
proposes more government. They would
not only have the government own and
operate all strictly public utilities. but
favor its anticipation i'll purely private
as distinguished from governmental af-
FAIRS upon the supposed ground, as con-
tended by Senator PETER, that the pco-
pie would be served more cquitably and
at greatly reduced expense by public
agents working at fixed salaries than by
private persons who use their business
for private ends" None have stated
the purposes of this party more clearly
and strongly than Edward Bcllamy, the
leader in Massachusetts, in II Wcll-con-
sidercd article. 1t proposes he said ito
harmonizc the industrial and CONNER
cial system with the political by bring
ing the former under popular govern
mcnt. as the latter has been brought to
be administered as the political govern
mcnt is by the equal voice of all for the
benefit Of all. We hold that
the industrial system of II ma
ton. like its political system,
ought TO be government OF
the people, by the people, for the people
and for all of them equally. TO that
end we desire TO see organized rs public
business all the industrial and CONNER
cial affairs of the people, 50 that they
may be carried on hcnceforth like all
other public business, by responsible pub
lie agents for the equal benefit of the
citizens" The plan includes, he de-
clarcs, las minor applications of the same
principle the manipulation and state
control of localized business" Pushing
the doctrine aud&yiously to its logical
conclusion, he insists that control. own
crship or operation should comprise all
chartered businesses. railroads. telegraph
and telephone lines, municipal lighting,
ferries. iron and steel
works, coal mining. forestry and lumber
industry, fisheries. the liquor traffic, fire
and life insurance and all leading
branches of protection and industry. Not
content with thus attempting to pervcrt
the agencies and functions of govern
ment, the distinctive policies of this party
would plunge us into certain and ire
trievable bankruptcy. Some of its ma
tional financial measures can only be con-
templated with establishment and alarm.
The proposition to own and operate the
railway, telegraph and telephone lines
would alone cost S12,000,0 100000 in bonds
and would add in interest S6OOOOO,O00
to public expenditures. The
would constitute an endless
public debt and would easily serve to per-
petuate the national banks. 1t is claimed
that the interest would be met with the
of the properties above expenses,
but this is untrue. Earnings which the
business will bear will not meet expenses
and interest on the amount at which they
are capitalized. In Texas alone, under
ro tps thn money necessary In
pay interest and dividends above the eX-
Denses of the railroads is about $4,000
300 yearly, for which taxes would be
evied. The popuist financial measures
recently in congress stagger
The credulity of thoughtful and conserya-
i've men and would require total ap-
preparation or an issue of bonds amount.
ng to sol, O21 100000.
II
The enormous cost of the Sub-trcasury
)lan will not bear estimate. One of the
JoXey bills provided for an appropriation
If S50OO0O,OOO for the construction and
Improvement of public roads, laborers to
ne employed at not less than 81 per day.
rhe other measure authorized all mu.
licpalitieS to issue bonds to the extent
If 80 per cent of the value of real estate
within their limits for the erection of
public buildings. In the recent populist
rational convention ut st. Louis, COXey
presented minority report, signed by
he populist nominee for governor of this
tate and nine others of the committee,
the passage of the bond and
rood road measures. How are these
and unconscionable debts
o be paid under populiSm? Senator
'cffcr declared in the resolution of July
}, 1894, that ''all revenues of the gov
ought to be raised by taxes on
cal estate" which means that all other
axes should he abolished. Customs du
les, taxes on tobacco and distilled spirits
md an income tax must 80. The homes |
md farms of the people must bear this |
Titan load of taxation. Judged by their [
lttcrances and conduct the populist
eaders. especially in this state do not 1
avor the free coinage of silver or believe
n its efficacy, and will oppose the dem
cratic nominee for president. though en-
Iorsed by their national convention. in |
whom alone there is hope of success for |
he silver cause. They favor fiat paper
money and oppose metallic money,
whether gold or silver. Speaking of Il |
pecic basis for paper money, Senator
'eftcr, in the North American Review |
or 1893, said: THAT doctrine is leg |
icy of the dark ages; it had its origin in
Intrinsic value in |
money coins is delusion. The doctrine |
# equivalents is impossible of applica- |
ion. Whatever value money has. the |
aw gives it." III January, 1896, he de-
Jared in the senate that metallic money |
= wrong in nrincinlp Ar tho Dali