The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-11-23

honesty. rank with the average of man
he proposed step might have far-reach-
ing effect In that direction. But Will some
very honest and phlianthrop.c bus ness
sands thus deprived OF a livelihood? Agri-
culture, with oVerproduction already pro-
claimed throughout the world, can hardly
be said to be inviting. The towns and
cities certainly stand in need of no re-
cruits to Their crowds Of oafers, Where
should they GO?
The law permitting preferences has been
in fierce for many years, and upon the
statements made to me by travelling men
! feel safe in making the assertion that
reXas rays hei debts as faithfully as any
other State. Iu 1893. when failures were
fast and furious throughout the country,
Il prominent travelling man made the state
meat here thar Texas was savior to ST.
Louis. Now, II - true Tat in many In
stances local creditors are preferred to
! That this seems unfair l will admit. 10
| some extent the rule, however works
both ways Pr ferred creditors are usu;
ally those who furnish actual money. and
| in mott cases are local hanks majority
of the banks In Texas are, at certain sea
| sons, heavy borrowers themselves having
! ~ pledge Their best securities for what
! they borrow. When they fail 1t Is the
outsider who is protested and the local
! creditors ara the losers. | grant, however
| that thh percentage Of bank failures Is so
| small that this can not be sad to even
matters up, but It is ore feature. Nearly
all dealers require more or less cash ac-
| communication. The wholesalers AMI man
ufacturors from whom they buy do not
furp sh this. Neither individuals nor
banks will supply this need un.ess they
feel assured that they are safe in dong
so. either through confidence of protection
| In case of failure. the holding Of tangible
security. or both Customers notes good
TO me merchant as long as he continues
IN bus ness are not always. or perhaps
nan OF the time. considered ava liable as
collateral by the hunks ana stocks in
trade can not Legally be mort gagged Loan
IN money at legal living rates yields no
Ant ha.p i
er security for the former is demanded
ana rshliully demanded. Take away the
VINO Il rn'sh need ID money to business en-
torpr!ses unless other means are found
as believe they would be with the same
effect in he eud. and vast amount Of
| aEsfcsate business in Texas would terini-
nate.
There are abuses which may he reached
by ert s@tlon hut few laws have ever
he n enacted which were not abused. The
MONIES lfNC laW hos been outrageouSly
nmsel principally in the towns and cites,
put there are few who will deny that a
homestead law, emac ating from the best
~ NirNinna Of humanity, Is right ana
should remain upon the statute books Of
mo state. There are shYlOckS who would
WING me last Vcstige of property from u
uehioV VINO would 500 the re-enaCtment
nul tn1N' fortunately, are few In mum
r. The man tronblc and the true cause
lul ~ th's stir about preferences Is that
credit has been TOO cheap. and in their
taEeruess 10 sell, jobbers ana mapufac-
tur, rs have force their wares too latishly
and indiscrmnatoly unon both big and
ll'e dGlers. Both could operate, with
leSS credit for goods. But with ali tho
lClrrcs WI ich have taken place. and with
al OF the effect of tho law permitting
rifr"nces ! vet maintain that Texas
has been and win continue 20 be as sood
an al around payer as any other State.
= her. are anl always win be rascas in
PNd out Of business be the laws what they
may, hut no sens hlc man VIII fail AVID
tG'rt ny forcfit his name and credit ami
exc out an eY ateuce with judgments hang
lh& over him II he can help 1t. 1t Is not
IN human nature Cor a man to live WITH
ont preferences Law may lint prefer
enc *, and il might he well and Just to do
II. mn N attempt to abolish it would III
NY judgment create mere crime OF Sc
cfol nature than 1t would prevent. When
man acquires unmortenSed title to Prop
cry whether It be real estate, merchan-
use mercy or anything else. 1t Is his.
en- he may transfer It 10 whomsoevcr IN
choose, openly or by indirection The in
terteniton of State or r deral courts only
adas grrncc r Fharcr in the spo.s OF in
solNoncy than others. with less actual
hght 10 the share AS stated. legislation
night posS hly reach some Of the Phusas
~ present in vogue, but Il would he better
20 leave the laws as they ara ard force
more ctrcumsrecfon in the volume az
credits, than h Kill off the many smell
traders for tho benefit OF n faw wealthy
4 ones. ICgO0Nt fully 1 I