The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1915-07-24

1uly ~. 1915.
he. 1suse n. Parker. Mayor.
lsaly. Teass.
p~os NJ. Parher
acxncwledee receipt Of your fsv-
| or Of Jaiy 18th enclosing petition
from fse hundred eisirens OF your
iroanss. asking me 70 come aud make
Ii speech in Euis county ON The Gle
| son Bil. which yon say Is an Issue
in the present campaign for the leg
tsisfu-e ~ yoar county.
Arrangements insolvins some
itonsiderahlc time and extent te go
and npeHa next week ON the peni-
Iteasiary farm OF The state Win pre-
went ms coming TO your county at
this finse II sonld hare pleased
ne very much 10 have discussed
This matter fully with your people
| In my opinion the Gibson Riii
/ will 10 more to set Texas right be-
fore the financial world. and will
srfng more aid Ia the farmers OF
TEXAS than perhaps any other one
riece Of legislation that could be
passed at this time. To continue
/, The Robertson Law on the statute
books In it's present form can have
no other effect than TO perpesuaie
en insurance trust in Texas. both in
the writing OF insurance and fixing
OF the rate Of interest to be charx-
ed for the ioAning OF money
| Texas has great domain and 8
/ great people However, on account
OF our being comparatively new
country. we must have the assist
anee OF outside capital. even II we
have To invite il by pleading with
the foreign investors 10 come to our
country Texas can no more dictate
the taxes upon which foreign capt.
ltal that comes to Texas and does
business with us than one of your
farmers could go TO bank and die
| tate the terms upon which he could
get small loan. BY the adoption
Of thu Robertson Law by the Leg
stature OF Texas, IL attempted 10
make foreign insurance companies
loan money in Texas whether they
wanted TO or not. and as result
these companies have refused TO do
business In Texas. and the field has
been Iefi to q few small foreign
companies and the home companies
10 write insurance al higher rate
than liz charged by the companies In
other states. and to charge the peo-
pie of Texas q higher rate of inter-
est than is charged b. the COM
Ipanies in other states To illustrate:
According to the sworn report, made
10 our Commissioner OF Insurance
and Banking. OF the Great Southern
Life Insurance Co., OF Houston, Tex
as, and the American National In
suraHce Co. OF Galveston. Texas,
aud perhaps one company in Waco.
Texas. aud one company In Dallas,
i Texas. hundreds OF thousands of
Il dollars have been loaned in the
state az Oklahoma for six per cent
interest. while the same companies
ieharge the people OF Texas seven
and oHe-half and eight per cent in
terest. the Galveston Co, even loan
Ing money on farms in North Caro-
lima for six ger cent interest. Now
the reason for this is that they are
In competition with the big eornpan-
les ia these states and have 10 make
the rate lower in order to do busl-
ness.
| Again: The Aetna Life Insurance
Ieompaay las over eighteen million
Idoliars loaned in the state Of Iowa
lat five and one-half and six per cent.
where they have to compete with the
Iblggesf companies that are nov ex-
leluded from Texas. and this same
company charges seven aad one-half
land eight per cent for the money ii
loaned III Texas Can onr honest
patriotic msn tell WY loan on an
Iowa farm is any better than loan
on Texas farm
/ Lad proposition before the last
Legislature from these large com
pahies that are not doing business
pa Texas 70 loan tairty-fiyc million
dollars Ia Texas Within tie next five
pears at rate not 10 exceed six per
cent 70 them on road bonds. school
bonds, city bonds and farm mort
gage, and this is more aoney than
laii tie foreign companies and Tex
a. companies put together have loan
ed W Texas oa thie class Of secur-
ny
have no desire to interfere in any
local election. but | fail to see how
lany man who commits himself 10
Keen ne pQbarfzn. t1... A.. 49,.