The Southern Mercury. (Dallas, Tex.), Vol. 10, No. 26, Ed. 1 Thursday, June 25, 1891 Page: 1 of 16
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'Organize, Educate and Co-Operate. "} Official Journal of the Farmers State Alliance of Texas. { "Liberty, Justice and Equality.
VOL. X, HO. 26 | DALLAS, TEXAS, THURSDAY, JUNE 25, 189L
WHOLE NO. 478
L I
i
The Gazette's Symposium.
The Mercury calls attention to
the following symposium and com-
ments, and trusts its readers will
weigh every word, then file care-
fully away questions, answers and
comments. They will be extreme-
useful in the near future as rare
bits of political history.
Some weeks since the Gazette
addressed a letter to about twenty
gentlemen of recognized ability in
the state making the following in-
terrogations, to-wit:
1. Do we need more money in
circulation?
2. If not, why not?
3. If we do, what is the wisest
and most effective plan for provid-
ing this additional circulation?
From the replies, we make the
following extracts and comments:
congressman jo abbott.
To first question, "yes."
To third, "reduction of tariff,
free coinage of silver; issuing of
treasury notes to cover deficien-
cies."
"You ask me to outline a bill
showing how additional treasury
notes are to reach the hands of the
people, or get into the channels of
trade. I answer candidly, this
cannot bo done, without convey-
ing it directly to the people in
the form of a gift."
"The fewest estimate that has
been made by competent persons
of the cost of the warehouses pro-
vided for under the sub-treasury
bill is $500,000,000. Are the peo-
ple willing to tax themselves this
sum?"
hon. w. a. pope, state senator.
1st, "Yes, we need the mon-
ey.1' 1
3d. "Free coinage of silver and
charter banks under the state
laws."
hon. john h. stephens, state
senator.
1st. "Yes, say $40 per cap-
ita." /
3d. "Reduce tariff, pay off gov-
ernment bonds in treasury notes,
issue treasury notes in lieu of
national bank notes, loan out
school funds to school districts for
school purposes, and on real es-
tate."
congressman s. w. lanham.
1st. "Yes."
cbas. a. town9end,
President
George H. Ripley,
Vice-President
life Ipsurapee <s>ompapy.
George E. Ide, NEW
Secretary.
Wx. A. Marshall,
Actuary.
ORQANIZED I860.
Asbkts, «6,708,448.96; Liaeiuria , «8,304,071.45; Surplus, «1,404,377.61.
No Life Insurance Policies are issued which are as liberal as those of the
"HOME,"—its Policies being from date of issue entirely unrestricted as to resi-
dence or travel, add after two years absolutely indisputable.
mmmmmmSpecirnen Policies Will be Furnished on Application.
The following table, compiled from the Anuu-
_ ipan
eiytl00,00 of'liability on January 1st 1890.
HOME, N. Y.. *126.21
Equitable, N. Y 125 00
Northwestern, Wis JJ7 §9
Lilt, N. Y 117 6
New York
State Mutual. Mass
Provident Life & Trust Pa
Traveler's Conn
Penn Mutual, Pa.
landJ
117 0
116 75
110 72
113 86
118 72
11105
110 82
100 76
109 05
106 07
108 1*
107 48
107 29
vuiuu auiuaii 106 44
Washington, N. Y 10 60
Average, omitting the Home, 112.85.
"The larger the present surplus, the greater
the dividend-paying ability In the ftiture."—Iu-
suianee Spectator.
New England Mutual. Mass
United States, N. Y
Connecticut Mutual, Conn
Manhattan, N. Y
Massachusetts Mutuhl, Mas*
Germania, N. Y
Mutual Benefit N. J
Mutual Life, N. Y
Union Central, Ohio
Union Mutual. Me
The Home Life Insurance Co. was
recommended to the Brotherhood on
Jan. 11th, 1889, by the State Executive
committee; at the State meeting in Aug.,
1889, a oommitte was appointed to in-
vestigate the different life insurance
companies, and report to the state
meeting in Aug., 1890; on the report of
that committee the State Alliance, Aug.
22d, 1890, endorsed the Home Life In-
surance Co., of N. Y., especially recom-
mending it to the members of the Al-
liance, believing it to be the best com-
pany in whichto insure for their pro-
tection.
a^Any information in regard to premium
ratee, or agency work, Address, or call on,
H. M. LEONARD, Gen'l Agent,
909 Main St, Dallas. Texas.
Mr An Agent wanted in every county in Texas,
3d. 'fFree coinage of silver;
some safo and constitutional
method may certainly bo found
whereby our stock of metalic
money may be aided in connection
with the other currency now in
existence. Then reduce taxation.
I have not had time to enlarge
upon the subject."
hon. t. j. brown, state repre-
sentative. .
1st. "It is my opinion that
there is not sufficient money Jn
circulation to properly serve the
purposes of business.''
3d. Free coinage of silvor is
the only safe and constitutional
remedy." v.
"There arc but two ways to con-
stitutionally get money out of the
treasury. It must be paid out for
expenses incurred, or in discharge
of its debts. I oppose the sub-
trearury plan as unconstitutional.''
lieut. gov. pendleton.
1st. "Yes."
3d. "Earn it. Make your in-
crease greater and your outcome
less. Sell higher or buy lower
or both."
"The government ought not to
give money away, because to give
to some, it must take away from
others, and that would be unjust.
I favor unlimited coinage of silver,
at such ratio as will make it inter-
changeable with gold, and keep
both metals in harmonious circu.
lation. The government probably
ought to issue treasury notes to fill
the vacancy created by the with-
drawal of national bank notes, but
if this results in expansion and a
rise in prices, it will verily benefit
the debtor, and that debtor who al-
ready has a margin in his favor,
because what he sells and what he
buys, will rise in the same propor-
tion, and if he had no margin be-
fore,this expansion would not give
it to him. Sales and purchases
would offset each other."
"The key to the solution is to
sell higher and buy lower."
"I favor a reduction of the tariff
60 per cent."
U. S. SENATOR RICIIARD COKE.
1st. "There is a general con-
sensus of opinion, in the south and
west, in which I fully concur, that
the country needs a larger vol-
ume of money in circulation."
3d. "In my judgment there is
no possible remedy for it excopt
through the free and unlimited
coinage of silvor. That, I believe
to be an absolutely necessary
condition, precedent to any im-
provement in tho financial condi-
tion. With free coinago of silver
as we now havo of gold, the na-
tional banking laws amended so as
to take aM ay from the banks tho
right to issue notes, leaving them
simply as banks of discount and
deposit, repealing that part of tho
banking law which prohibits loans
On real estate, leaving the banks to
their own discretion as to securi-
ties on which they will make
loans; "vVc' can safely rely upon
the wisdom Of tho representatives
of the people to use the safest and
and most eficctive means for put-
ting into circulation tho govern-
ment issues."
The careful reader will observe
that every one of these gentlemen
admit that we need a larger vol-
ume of money^in circulation, and
that only one of them says any-
thing about how much per capita.
That one is not a member of
congross, but a state senator, (TiP*
Jno. H. Stephens. The Gazette
wrote twenty letters, the presump-
tion is that each congressman from
Texas received one of these letters,
nearly three weeks prior to the
14th of June, 1891. It will be ob-
served that only three out ot the
thirteen representatives and sena-
tors deigned to reply. If congress-
men have no idea how much money
per capita we need in circulation ,the
people of Texas can expect very
little from them in this direction.
All our Texas congressmen favor a
roduction of the tariff, yet none of
them even approximated what per
cent of reduction ho favored.
What are tho people to think,what
opinion ci^n thoy have of represent-
atives who don't know, or won't
tell, how much money per capita
the country needs in circulation or
how much they propose to reduce
the tariff? It does seem from a
careful examination of the extrae!
taken from these letters that coii-
M
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Park, Milton. The Southern Mercury. (Dallas, Tex.), Vol. 10, No. 26, Ed. 1 Thursday, June 25, 1891, newspaper, June 25, 1891; Dallas, Texas. (https://texashistory.unt.edu/ark:/67531/metapth185418/m1/1/: accessed April 19, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; .