The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-05-01
HOUSTON, WEDNESDAY MORNING, MAY !. 1oOl
16 PAGES TODAY.
TEXAS ATTITUDE TOWARD CAPITAL.

1t is not altogether gracious possibly to take point
ed issue with guest but Mr. c. Nj Wicker OF the Wis
ing New York delegation said some things and asked
some questions at Waco Monday that ought not to pass
unnotced unanswered by the press of this State
Mr.. Wicker. after onumerating number of inter
esng things they had heard about Texas during their
visit continued:
But we have without one exception until arrived
Waco heard word about the passed against capital
any politician State official or member Of the legislature
swerng inquiry why did pass laws which compelled
corporations the supreme of the United
States escape being wrecked We have beard from
to the legislature with such bill that introduced the
last session You say the bill not passed you say that
tween the time that bill was introduced and time was
sSo 4 S ssin o @ w ab b m
governor being invited TO address the legislature about his
Why arc these things in Texas so1 Why have these
things upon you during the past ten years. think
delegations would like to have them explained.
Mr. Wicker should have been informed that tho cor
poratons alluded to were not Compelled to resort to
the supreme court OF the United States Ito escape be
ing wrecked" AS a matter of fact the railroads of
this State to which Mr. Wicker evidently alludes have
been in better condition and made money since
the railroad commission established than before
that time Judge Reagan made that clear to the Wis
itors All other corporations in Texas more pros
porous than they ten years ago, Other cor
porations that have appealed to the supreme court of
the United States against Texas laws have been worst
eu by that august National court.
But why it necessary, asks Mr.. Wicker, for any
legislator to so to the legislature with n bill embrac-
ing what are known as the Hogg amendments? When
Mr. Wicker tells us why it has been for in.
Vulnerable New York Legislators so to their legis.
lature with drastic measures, freak bills. will
be ready to his inquiry But the fact that the
legislature of Texas turned down the bill ought to
De sufficient evidence to fair mind that the public
sentiment of this State did not indorse the proposed
legislation.
The answer to his remarks is the legislative record
But says he, the damage done to Texas during
lac tendency of the measure To that answer can
be made other than if capital is easily prejudlced
so easily stampeded that It not walt to see
whether people approve dsapproye of some poll
tciens proposals. 1t is in truly pitiabe plight. CAPT
tai ought TO be ashamed to so candidy confess It's
preiudces and it's Weakness
why these things in Texas so ?" continues Mr.
Wicker. We might ask him, in reply. why are they Sc
In his own State? Why does New YORK take from
dead mems estates large in the way N inheri
lance taxes Why has II just enacted graduated
corporation tax law OF X OF per cent on the capita
stock Of corporations? Why is there an anticombina
ton law in that State? Why has it taxed corporal,
franchises and enacted score Of other laws taxing
ard regulating capital? Is it possible that Mr.. wicke
can not get the beam out Of his own eye in looknl
at The mote down here IN Texas?
as u matter Of fact the New Workers ought to hav
examined laws enacted curing the past ten years
They directly in the interest of the honest iuves
ter. They only prevent wildcat companies and speor
latioa, aud combinations in the nature of monopoly
in restraint Of trade. They liberal as the law
OF New York or Massachusetts,
Il III all 'tommyrot to say that only now the Stat
OF Texas favorable TO the investment outside cab
tel. Texas never has been nimical to Legitimate il
vestrhents at any time have such investments bee
unsafe in this State. The great trouble to b.
with capital or at least capital that It does nc
want to acknowledge itself amenable to any laws,
recognize the fact that the people have rights that
to be safeguarded against aggressive. movements
large bodies OF organized wealth.
Texas win welcome foreign capital and protect !
There Is nothing in our laws to Cypress it when e
gagged in natural and Legitimate channels, bnt Texa
no more than Massachusetts or New York, proposes
turn itself over Internationally TO be exhibited !
wholly uncontrolled and unreguate6 capital. II