The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1897-12-02
OUR ONLY FINANCIAL SALVATION.

When Mr.. John c. Edgar puts his
hand to the plow he cuts furrow deep
and wide. His communication this morn
ing upon the advantages to accrue from
the course outlined by the Commercial
club cuts with an incsiveness peculiarly
his own. There can be no gainsayinG
any and every point he makes. what
the people. not only of Austin but OF the
entire south must do, is to consume nome
made products. Along this line is the
only salvation of the people. Think OF
the enormous drain that is going on con-
stantly from the south under the present
conditions. We are accustomed to speak
earnestly and with great regret OF The
congestion of the money in the north aud
east. How can it be otherwise, when
we are constantly sending all our money
there? When it once gets there it sticks
until some small portion of it is sent back
TO move the cotton and wool crops. The
balance of it stays there and accumulatcs
further riches for the manufacturers who
produce for us the goods we ought to he
making for ourselves here in the south.
Under such conditions. how can the south
hope TO be prosperous? What have we
here TO make us wealthy? Take this
year for instance. With cotton at D
cents pound, what profit does the
farmer get? But that is not the only
bad feature of the case, How much less
money Is sent TO the south TO handle
crop Of scent cotton than one of cents?
What is the result? The difference of
3 or cents pound is left in the north
and the currency of the south is to that
extent further congested. And this is
not question of the amount of money
in the United states or in circulation in
the lack of circulation in the south.
Were our cotton worth Q cents pound.
our farmers would get that price for it,
regardless Of how much that might con-
gest the money market in the east. But
in reality it would not affect the money
market of the east. as the money for the
cotton would come from the manufnc-
turers of Europe and would to that ex-
tent add to the circulation of the United
States. But given, as under the Mckin-
ley tariff high prices for all that we now
buy in the north and low prices for all
the south has to sell, and how can it DC
expected that any but hard times shall
prevail in the south! The remedy Is
along the line now urged by the CONNER
cal club and seconded by Mr.. Edgar.
1t is what our best political economists
have cOntended for for years. The man
ufacturers of the north have long been
fattenihg of Of the producers of the
south. Can any one estimate how much
money would be kept at home if Texas
manufactured all the cotton she raised?
should the east and Europe have a mo
nopoly of this manufacture? We have
plenty of water power in the state, hut
if not, can we not use coal, as they 90
up eastI But this is a broader question
than we at this time care to go into Our
point is from purely local bias at ibis
time. We of Austin are prepared to fur
nish cheap water power enough to man
ufacture not only all the cotton of Travis
county, but of many adjoining counties.
Why don't we start to doing it? And
not only cotton. but there are vast
number of things we should be success
fully manufacturing right here in Aus
tin. Until we begin to do it. we will not
have IA prosperous city nor a prosperous
county. In heavens name let us get ut
IT, and nj once