The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-01-31

which is not theirs. we are ready 70 apply
the remedy. Two years ago most OF our
Texas jobbers opposed any char Why?
Because from geographical reai ;s they
kept in touch with their customc,s and en-
joyed special privilege But how Is It
now? In my own town moat OF them favor
change, We are long on special privileges
and short on cash receipts
l VIII not take up your time In an at
tempt to answer other objections which may
bo offered to tho proposed measure In my
humble Judgment n fair and equitable gen.
eral assignment law Will work no hardship
on our people, but on the contrary, Will
greatly strengthen and stimulate our com-
mcrcial conditions. policy that Ia right
and honest In the eyes OF God and man
can work no lasting hardship on an honest
people Trade conditions can readily adj
Just themselves TO proper channels have
not had an opportunity TO examine any OF
the proposed measnrus which your commit
tee have for consideration, but have con-
tented myself in calling your attention to
some OF the evils Of our existing laws and
leave 1t 10 your sound judgment and wis
dom to devise tho proper remedy.
And In conclusion. as one humble private
| citizen, | most earnestly ask at the hands
of this committee careful. deliberate. I'M
selfish consideration OF this question. and
! believe as n Tasult you wiIi fayorably re-
port bill which shall remove the temp
tation to do wrong, abolish the shameless
| HDHso OF inc privilege hUOTueu ny eNbL-
| Ing laws and s~s To our own people and to
| the world tnat imIS-aial Texas viii not
| lawfully sanction hoegisbncss. avarice and
greed. but that we have builded our great
commercial institutions upon the solid
rock OF honesty and business Integrity. and
| conduct our trade ON that high and truly
, American plane of equal rights To all and
| special privileges to none.
| Mr.. Altman stated that he makes his ar
| Eument after eight years experience In
| Texas law. He has seen the preferred
! creditor system work to such disadvan-
| tage to honest creditors
| His argument was listened to with great
attention and ATTORNEYS on the committee
approved OF u great deal he had to say.
In answer TO him Attorney John Sehorn
! OF San Antonio presented the following an
swcr to Mr.. Altman
In order Tor tho demands for these gem
| tiemen to be recognized their charge that
tho common practice OF fraud In these
| trust deed failures is universal must be
proved to have some foundation In fact
We admit tho occurrence OF occasional
causes OF fraud. but we emphatically deny
] that Il Ia the rule. and we scarcely believe
that any gentleman present Will admit that
such condition prevails. concediDg tho ex-
! istcnce Of so foul a stain on the fair name
| OF our State.
The fraudulent cases are the exception,
| and though punishment may be provided f0p
them. legislation can scarce prevent them
any more than II can eliminate murder or
burglary from tho category Of crimes.
Experience has demonstrated that In
most instances. the debts secured to rela-
tives have been genuine. and AZ a matter
OF fact, and with regret, It must be con-
coded that an enormous proportion OF retail
merchants in this State are doing business
on insufficient capital. the long credits
| they are required to give compelling them
A. hn.a fh.u In rdar TIM tsaot
tho exactng demands OF creditors who arc
not accustomed To extending such accom-
modations ar home jobbers do. And when
trouble overtakes them they merely follow
out the common instincts OF all animal Gre
alton, brute and human alike. to first take
care OF Its own. II this powerful organi-
cation Of credit men. with its wonderful re-
sources and numerous channels for OBJ
tanning information. admits that II extends
credit TO merchants In ignorance OF the
fact Of whether they be business men on
their own or borrowed capital, then we
claim that this is a case calling for now
brains and not new legislation II they
are aware OF a mans condition they tale
. the chances. as we DO. Of a common com
, merclal risk and knowing the nature Of our
, LEWIS hey can como into the State and dn
business. or remain away. az they may
, elect. Texas 1obbers have no levers to
, force preferences In their favor. and when
they are preferred II Is usually from choics
|, on the part OF tho debtor, or because they
have earned or deserve the preference from
the fact Of their having extended extraor-
, binary favors or accommodations. virtually
supplying the deficiency in capital. These
) foreign gentlemen desire the passage 81
this bill from the philanthropic motive that
. they will feel safe TO come into the STATE
4 10 make lower prices. which we refute with
i the statement that we sell goods an low q
! they are sold In any market--frequently II
I order to induce merchants TO refrain from
I INDUCING In the fashionable practice d
sending money out OF the State for sup
plies. And 10 restrict the danger Of oui
. retail merchants having too widespread Z
I, number Of accounts IN provide for m pre-
! carious times And we do. beyond doubt
. extend credit which no outside 3obbers evsI
= undertake to sive. ~
Tho main objestlos e the snaoeme.f {!