San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1896-02-23

by the constitution? Who can be
wild enough to believe, or even
suppose, that an American congress
could ever be elected which would
adopt policy fraught with such
dangers as this?
The loaning Of money by the
government to citizens at 2 per
cent interest on mortgages on land
or farm products, would no doubt
induce thousands to borrow, many
OF them improvidently. II such a
policy were adopted, fortunately
for the people OF Texas, our consti-
tuition and laws prevent the mort
gaging of homesteads. To that ex
tent the people of this state would
be protected against its evil effects.
But in most or all of the other
states they would not have that
protection. And when the money
so borrowed should be spent the
general experience in such matters
shows that very large proportion
Of the borrowers would be unable
to repay it. And where land mort
cages had been given, the result
would be the foreclosure and sale
OF the mortgaged property. In this
way 1t is safe to assume that the
government, in carrying out such
a policy, would soon become the
owner of very large amounts of
land, farms and homesteads. And
when so acquired what would or
could it do with such farms and
homesteads? Would it undertake
to employ managers and labor to
carry them on; or would 1t allow
them to go 10 waste? II the for
mer, it would increase the appoint
ing patronage Of the executive de.
partment OF the government, add
ing to the danger from that source.
If the latter, great destruction OF
the value of real estate would fol-
low. Would not such a policy
result, after large sums Of money
had been loaned to the people and
the time OF repayment had been
reached, In the creation of strong
element, first in favor of extending
the time for payment, and finally
in favor of the government releas-
ing the debtors?
1t is respectfully submitted that
such a policy, added to the policy
of making the federal government
a lender of money to private per-
sons, and produce broker, and the
vast increase in the number of
federal appointees, would entirely
change the character of the feder-
al government and the purpose for
which it was formed by our Revo-
lutionary fathers; that it would
result in the overthrow of our pres
ent system of government, and in
substituting for our present race of
Independent, liberty-loving free
men, a race of mendicants, DEEPEN
dent on government support, and
unfit for the great duties of self
government and fit tools to be used
only by corrupt and ambitious men
Will the people of Texas sanction
such politics, or support political
party which advocates them, is
serious question, which their fu-
ture action is to decide.
There is no question but that
there is much ground Of complaint
against much that has been done
by the federal government; espe-
cially against the financial policy
in the plan adopted soon after the
war Of converting the legal tender
notes into an interest bearing
bonded debt; in the passage of the
act Of 1869, taking from the gov
eminent the right to redeem the
bonds with the same kind of
money with which they were pur-
chased, and making them payable
in coin of gold or silver; in the
passage of the act of 1873, demone-
tizing silver, taking from it the
quality of standard redeeming
money, and legal tender for debts
above the amount Of So; the I'M
conditional repeal of what is
known as the Sherman law; the
refusal to authorize the coinage of
the silver bullion held in the
treasury, and the refusal of the
house of representatives of the
present congress to pass the senate
bill for the free and unlimited
coinage Of silver at the ratio of 16
of silver to l of gold, the making
of it legal tender money, re-
quiring the treasury department
to pay it out the same as gold
in satisfaction of the demands
on the government and the issu-
ance Of interest bearing bonds in
time Of peace to purchase gold.
These are the policies OF the repub-
lican party, a part OF which have
been followed by a democratic
president and a minority of the
democratic party. But a large ma
jority of the democratic party has
opposed and denounced them at all
times; and this majority, COM
posed OF greatly more voters than
there are in the populist party, has
protested as earnestly against these
measures as has the populists. But