The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-05-13

pressed in any act of legislation OF which
the state was ever guilty that has re-
tarded the building or cotton factories in
our midst one whit.
| Mr.. Chamberlain complains that tho
| State Is backward In mineral develop
men. Granted. But what has legislation
had to do with It? Unfriendliness to capt
| tai has not been responsible for this result.
Whoever heard Of the kind OF capital Mr..
Chamberlain Is familiar with seeking in
vestmeD4 in the field OF mining? Such
capital would not hazard itself In an IN
anteed that every dollar of mineral wealth
acquired should pay premium OF per
| cent a month. The truth Is. however,
that Texas has been liberal enough In
encouraging mineral exploration. The best
and most scientific geological survey ever
made OF any State was made few years
ago by Theodore b. Comstock recog-
nized metallurgic expert throughout the
world. In the hope of solving the prob
! lem of cheap fuel the legislature has ap-
continental Europe TO inquire into the
! process OF converting. Ignite into steam
making fuel. Little or no utilization has
4 been made of the expert knowledge thus
acquired. In the meantime our Ignite
beds have been developed by local indus
try and capital. and coal mine at Thur
Der furnishes employment to many hrn-
bred men while explorations to uncover
other deposits are going on steadily. Mr.,
/ Chamberlain should be better grounded
! In economies than TO look 10 foreign cap
ltal for this kind OF development. The
character OF capital he talks about is
| bond interest seeking money that demands
/ fixed rate which, when II gets, It takes
out of the State II is the gambler who
/ lifts to the surface of earth and puts into
the marts OF trade the treasure trove OF
nature and not the cautious, calculating,
sure thing" money dealer In bonds that
provide sinking fund for interest and
retirement of principal.
! Mr.. Chamberlain contends, with what
/ appears to be most singular purpose to
take a preiudiced view of affairs, that
Texas is the last in the list of railroad
building and development. A little peep
into history accompanied by sincere in
tent to attain correct information must
destroy this contention. No State In the
Union to encourage railroad development
has been OF such princely generosity in the
| gift OF public lands as fruitful OF cereal
wealth as the Delta OF the Nile, or per-
mitted a bonding so enormously In excess
of cost OF construction and equipment.
The traffic OF the State is today paying
toll upon this generosity and II anything
more than this fact has put onerous bur-
den upon the commerce OF Texas we are
yet 20 be shown what 1t Is. To escape
the imposition OF further burden OF this
character the railroad bond and stock
law was enacted. Massachusetts,, the home
Of conservatism and safe Investment has
since adopted similar law In comph-
ment to the good sense and honor and
courage OF Texas. IN consequence of this
law the very Interest represented by Mr.
d Chamberlain seeks Investment In bonds
because that interest, as does every other
In the East and North, knows them TO
be unequlvocally safe. Had Mr. Chamber
lain taken note OF the recent advent or
New York millionaire in Texas railroad
building and ownership; Of the coming
Of the Rock Island; of the development OF
Port Arthur by Holland and American
capital and OF the road that links 1t to
the granaries Of the Northwest; to the
millions of expenditures now going on at
Galveston by Mr.. Huntington and to other
railroad lines now under construction or
such a sea OF fallacy.
Some points in Mr. Chamberlains ad-
dress are strong, pertinent and timely.
For instance. his plea for the establish
ment OF branches in technology in our
universities and public schools; the edu-
cation OF our youth along industrial lines
and against the carrying of concealed
weapons. But even in these. and some
other really commendable criticisms and
suggestions. his disposition appears to be
, rather 20 censure the State than 20 give
1 II credit for what It has tried and hoped
to accomplish.
In fact, Mr., Chamberlain seems TO have
, prepared his address while not yet recov-
, cred from hidsous nightmare that
/ strewed his Visions pathway with wreck
! and ruin. One word Of suggestion 90 you,
Mr.. Chamberlain, In the klndest of spirit.
, You are a business mana good one and
useful to Texas. Instead Of accepting the
New York view and insisting on capital
i and corporations making our laws, study
5 the laws and history of your State and
} parallel them with the laws OF other
States--those OF the Oldest and most cop
5 scrvative among them. DO this and you
will rise from your investigation pre-
pared to accept the fact that capital in
Texas is as safe as elsewhere and deter
mined to defend the honor and dignity OF
Texas against avery assallant. Try this.
II will enlarge your vision. broaden your
view and equip you to help in the ellmi-
nation OF misunderstanding between Tex