The Lubbock avalanche. (Lubbock, Tex.) 1909-1922, 1921-07-21

warehouses in the lat counties which
would receive the principal benefits
! am sure the people of Texas will
not adopt such a system unless the
money is raised by tax on the pro-
duet Go be stored.
II believe the bills providing for
a SOC tax on each bale, for building
warehouses, which were introduced
90 the last session, present the only
feasible mcthod and hope this Con-
vention win see fit to express its
views on this important matter.
Result Of Currency Contraction.
"The contraction Of the currency
and restriction Of credits put into
effect by the Federal Reserve Board,
and pushed to a degree far beyond
the requirements of reason or neces-
sity. have caused a decline in the val
ne Of commodities and Of property
and a consequent loss 20 the Ameri-
can people never experienced before.
"Under such insane and unreason-
able handling Of the nations finances,
tradesmen have been ruined, banks
closed. millions Of workman thrown
cut of a job, and the farmers re-
dured in one short season 90 bank
rlptcy and despair.
"Thcse are the uniform and inevi-
table results Of a radical and swift
reduction in the volume Of the med
ium Of exchange.
"They have been recorded and ex-
planned by every political economist,
and are understood by every student
Of financial affairs.
az our Federal Reserve Board did
not know what the terrible results
Of this policy would be, then us menu
beers ore utterly incapable and should
be relieved Of their positions at the
earliest possible moment II on the
other hand they were aware Of the
wreck and ruin the crime, suicide
and despair. chat would follow such
n policy ard adopted same with free
knovledpc ~ IFS results; it would
consI tute one of the gravest crimes
in history.
we prefer 10 believe they we're the
ignorant dupes Of the soulless fn-
anrial interest, which % enhance the
value Of their own holdings as COM
pared with values Of other property
have heretofore inflicted a number
Of financial panics on a suffering
people.
Whether such losses are inspired
by heartless conspirators, as under
I the former dictation of the New
7 York finaciers; or by the unrestrain-
7 ed exercise Of dictational powers by
T a Federal Reserve Board supposed
/ 90 represent the people; such acts
I constitute the gravest possible men,
! ace 20 the rights and liberties Of a
+ free people and threaten the very
/ existence Of our free institutions.
The ranking injustice Of such mani
pulated spolation viii not long be
! tolerated by any liberty-loving peo-
DE and it is TO such unjust raids in
the past that they can attribute the
7 wave Of socialism anarchy and crime,
which Is sweeping every nook and
corner of our land. We solemnly
warn the constituted authorities that
such things must be eliminated from
our latioua. fabric, if this nation
is 70 endure.
I This organization has heretofore
/ declared the American farmer 90 be
I the blance-wheel Of our government
machinery, he has no sympathy with
financial oligarchs or frenzied mobs,
and they who think 20 impose on his
Intelligence, by covering such con-
sCienceless cOnfiscas.on Of our prop
erty with the mantle Of financial law
/ or to misiead him by juggling phrases
Of financial legerdemain; simply de-
ceive themselves and pile up noun
iains of wrath for the day Of recon-
I pense which is as certain to come as
that the God Of Justice reigns. This
organization has set its face like
flint against robbery of American
! farmers through financial manipula-
ton and shall let its representatives
know where IL stands in no uncertain
terms.
This organization stands for JUS
tice and equal rights and will be sat
isfied with nothing else.
-Four years ago | accepted your
commission as presirent OF this or
ganisation and stated my onalterable
purpose 10 purge is,of every unclean
and unworthy thing,
To-day | declare. TO you the &C.
complishment OF that purpose. and
present TO you an organization
clean as a hound's-t0oth living in con-
scious purity Of purpose. satisfied
in is own self respect and worthy of
the confidence and respect Of all men.
Il have accomplished my purpose,
am supremely happy IN the know
ledge and ! possess the respect and
confidence OF our membership and
now surrender my commission into
your hands. with an earnest prayer
FOR the future Of the organization
and the membership whose aasocia-
tons | shall always cherish"
Mrs. Rosella Rushing and daughter
Dorothy, ~ rlalnyIew, have been
Waiting Al the home III Mr.. and Mrs.