The Democrat. (McKinney, Tex.), Vol. 8, No. 43, Ed. 1 Thursday, December 3, 1891 Page: 4 of 4
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ai the latter part
,n the subject of
l kind of circulatory
.ttted the province and
u Iho validity of green-
$
PP^i'
#
i '*. ■
1 m
f*';"
W " ' Vr
j ibsuetl us bills of crcilit is
•urposo fur which they ire
t for a purpose which is Ha -
iti yalue accordingly; aud if
rpoao which is less liable to fail-
cK'dine less iu value in proportion,
liich greenbacks as bills of credit
ubject to failure aud thw greenbacks
reciaiion in value, is in time of war
a
i ting theui begin to yield to their antag-
to be conquered. This is amply exempli-
to i ho Confederate greenbacks in the time
ur last war. These Confederate greenbacks at the
«ret of eccession pusBed at about par value; but as the
success of the confederation subsided, they gradually de-
preciated in value until at the close of the war, when they
were worthless.
The purpose for which greenbacks as bills of oredit
are emitted is least subject to lailure aud the greenbacks
least liable to depreciate in value, is when they are in-
vested in property ; as, in the purchase of lands, or iu
purchasing tool*, instruments or mediums, as property,
necessary for the fulliluient or execution of all such polit-
ical matter or transactions whereof the novernn nt has
the jurisdiction aud management. This is so because the
investment is secure, and consequently nothing to lose.
Similar is the validity of greenbacks emitted for such pur-
pose as the validity of common promissory notes in nego-
tiation, when the notes are of good and infallible security.
In the latter, the value of the notes is not subject to de-
preciation, since thy investment is not of a fallible na-
ture; so in the former, the value of the greenbacks is not
subject to depreciation, since the investment is not of a
fallible nature.
To emit bills of credit, then, for the establishment of
railroads, telegraphs, etc., the value of the respective
greenbacks are not subject to depreciation, as the invest-
ment is not of a fallible nature. Nevertheless, should
of credit be emitted to a greater amount than would
ample J.ufflce as a circulatory medium of exchange, then
the greenbacks would depreciate accordingly, owing to
surplus, as 1 described before.
In youv republic, however, to emit bills of credit to
establish such structures would not equal to an amount
greater than would be borne as a circulatory medium of
exchange. In the first part of this chapter I had formu-
lated that the amount of the circulatory medium of ex-
change should not be less than lifty dollars per capita,
nor greater than amount equal lo the value aggregated by
the cotun Jities which are bought and sold, together with
the stipends exchanged for the various services which are
performed.
At the present (18i)l) I iiud through statistics there is
exchanged, during a season, in way of buying and selling
and paying lor services which are performed about $12,-
(312,890,750: so that by using the latter part of the form-
ula just gi,ven as a standard of the circulatory medium of
exchange, there could be ( calling the population lifty mil-
lions) about $2.">0.00 per capita. But the amount of money
now in circulation all are aware falls below per capita.
Admitting, however, that the amount in circulation at the
present ia &2.r' per capita : then the condition of your gov-
ernment will still bear $^2.>.00 more per capita, making an
amount of S11,250,000,000—*11,300,000,000 worth of green-
backs that could be emitted as bills of credit; which
would more than establish all the main liues of railroads
and telegraphs. Such au amount ol circulatory medium
of exchange per capita, in nothing for an enlightened aud
thrifty people under a democracy to have : for a poor peo-
ple is it that cannot nveiage having that much money
apiece.
It may look big that the government (the people col-
lectively of th - United States) uh< uld b«- able aud have
the credit to own such public property as railroads and
telegraphs; but il \ <m do not sanction the government
with the ability and credit io own sucii property, you put
the ability and credit of th* millions of people below th«
ability and credit of just a party of men that now own
them. Similar is this putting the ability and credit of the
millions of people of the United Slates respective to own-
ing the public property in common below the ability and
credit of merely a party of men as putting the ability and
credit of the thousands of people of a single county re-
spective to owning the public property in common (such as
public bridges, school houses, and court-house) below the
ability and credit of merely a party of few men. Think
of the absurdity. Think of the absurdity that the ability
aud ?Ye3U GT Trat a few men should be placed above the
whole naiion -think of the inferiority and humility of a
free-born man guilty of euch a thing.
There is an abominable error generally associated
with emitting bills of credit, which it seems is hard for the
people to understand. The error, as given before under
banking, is simply this: Instead of using the bills of
credit of the government as a circulatory medium of ex-
change iu the form of greenbacks (to the extent the condi-
tion of things will bear) and having all respective matter
uuder absolute control of congress or civil service, they are
subjected to private corporations (bankers)—subjected to
their extortion -and the people robbed to that extent.
This is grossly unjust—is au outrage, and should not be
tolerated. And, there isn't the least propriety in it. It's
just as though the credit of the government (people col-
lectively; was of no utility but to be subjected to bank-
ing corpoiutions and for them to extort great incomes and
liyo in splendor. No, if it is a utility for such corpora-
tions to reap incomes, it is a utility for the people to sava
tU« incomes for themselves, by keeping it iu their own
hands. All about it it*, It gives the minority advantage
and power o*er the majority—creates a prerogative class
gives it power to eat and live on the masses, on the
classes. Crush it I Away with it!
"Use the biffs of credit as a circulatory medium of ax-
* ^ to the extent the condi -
all reipectiv
-V. .
pie these unnecessary exactions," 1 say.
It is here that so many make the miatake, when the
government's ownership of railroads and telegraphs is
considered. They just suppose that the indebtedness
created in this way is to go through the same old swiad
ling machine,—to be subjected to the bankiug corpora-
tions, the same as the war debt. It is to be understood
that was the debt which the government's ownership of the
railroads and telegraphs would Incur, to be subject to
banking corporations, the snma as was aud the war
debt, I would not be in favoi of the government owning
them ; for it would then only accelerate the downfall of
your republic. So, it is to be known that I am not iu
favor ol the government's ownership of railroads aud
telegraphs until after 'or at tli6 same time) the other po-
litical changes formulated in this chnpter together with
the democratic banking system described heretofore, are
established. Theu, there will be no interest to accumu-
late on the debt—no augmentation of indebtedness—and
the debt gradually removed by the income of the
roads and the volume of the circulatory medium of ex-
change adjusted.
Of oourse, the gcing into debt through emitting bills
of credit in this way for the establishment of railroads
and telegraphs and obtaining other property common to
the nation, would be governed by the amount of circula-
tory me.Uum of exchange the condition of things would
bear; when the balance, if any, would be obtained
through gradual taxation, such as congress by law would
prescribe.
Notwithstanding; there is a diil'erence between es-
tablishing publio lines of railroads and telegraphs by the
government and purchasing such lines now existing from
private corporations. The government in establishing
new lines is under no restraint or obligations, and could
have them constructed through means of bills of oredit
harmoniously and with facility; but In purchasing the
lines now existing from private corporations, the corpo-
rations could act obstinately and, undoubtedly, not only
want exorbitant prices but interest-bearing bonds. The
way such a negotiation of the latter would be eilected
would be through a compromise between congress and
the respective corporation?.
Congress should exercise no concern or anxiety iu
purchasing these lines from the corporations and allow
them no more than* a just price, especially the railroads ;
for, in the end, iheae winding, spindling roads would not
be worth much to the government, being that as soon as
purchased they would have to be reconstructed into
more adequate and magnificent forms; but have the cor-
porations understand that they can establish new lines
with much greater satisfaction. Yea, were it not for these
contemptible and insignificant things of the private cor*
porations being in the way, with the greatest facility aud
propriety could the government establish them, not mere-
ly such as would be answerable, but which would be be-
yond the financial demarkation and capability of private
corporations, and only applicable and consistent to a na-
tion.
It Is to be understood that emitting bills of credit in
form of greenbacks for the establishment of public struc-
tures, only comes nnder the government of the United
States. The proper method for minor political divisions,
alter the establishment of the banking system before
given, to build public structures, in case they have not the
fuuds at hand, Is for suoh minor governments to obtain It
in way of the auxiliary circulation, described heretofore.
This method of obtaining assistance they conld fulfill with
the greatest facility and consistency; and would get the
use of the auxiliary just for what it cost to issue it, and
the true worth thereof, together with the expenses of civil
service connected therewith.
HOSOllltlOUK Of lk'-|*Kt.
Illinois S. IL, Nov. 12, 'tfl.
William l'\ Osborne, died,
at his father's residence,
near Illinois school house,!
Collin county, Texns, on
the 8th day of November,
1801,age 10 years, 10 months, 10,
days. He joined Sister Grove!
Alliance No. ?7fi,Collin county,
Texas, on the Olh day of Oct.
1890 and was elected doorkeep-
er of Bald alliance on the 9Brd
day of Oct. 1890, which office
he faithfully filled until July
1st, 1891, when he was elected
one of ike executive committee
the duties of which he honor-
ably perforated until the time
of his deulh.
Uro.Osborne was a youug man
whose moral character would
bean example of usefulness to
his associates, lie was a young
man who stood very high both
in his private life aud iu society;
Uo was a dutiful sou and kind
and loving brothel; as an alli-
ance brother he was faiihfu!,
ever re idy to promote peace and
harmony among the brethten.
The cause of his ty?ath was ty
phoid fever.
Whereas, it has pleased au
Allwise Providence to remove
from our utidst and the walks
of men, Bro. William F. Os-
borne thus severing the bonds
of affection and brotherly love
wh'cb bind us to our late la
uiented brother; and while bow-
ing iu submission to the will
of our Heavenly Father who
doeth all things well, we deep-
ly mourn his loss as a brother
aud sincerely join iu the sor-
row of his bereaved parents,
brothers and sisters in their
alllictioiu).
Resolyed, first, that in the
death of Bro, Osboru our al-
liance has lost one of its most
efficient members, one whose
life was a shining example
of fidelity to the principles of
the alliance.
Resolved, second, that the
condolence and sympathy of
this body be extended to the
bereaved relatives and friends
of the departed brother.
Resolved, third, that a copy
of these resolutions be spread
upon the minutes of this al-
liance, a copy sent to the Mc-
Kinney Democrat and Farmers
ville Times for publiction and
a copy be furuisUed the family
of the deceased,
W.H.Slater,
A.J.Caldwell,
N.H.Sledgp,
Committee.
THE COST OF FHASCUI8E.
Xsrclnug to the Hilltop of Freedom.
i ud for the people let us rise
up in our might and take it
out of the hands of the few,
aud restore it to the masses,
wher« our forefathers intended
it should be. Do we realize
Veroua, Tex., Nov. 28, '91.
TlV™"7"rj- to tkto pa" to*. XWly'lfr.ftM.
the county.
Wheat baa not come up.
Most everybody has to haul
j water.
i Times are rather dull, and
farmers say they cannot raisf
cotton at G cte., but are making
preparations to plant a full
crop next spring..
The alliance is moving slow-
ly to wards the gates of eternal
justice. Johnson is the liveli-
est alliance in this section. It
has had four lecturers In the
last three weeks.
We are most all democrats
out here but not party cranks.
It Is the sab-treasury with us,
or something better. We are
opposed to the national bank
and want something in its place.
If any one can get up anything
to take the place of the banks,
i that In onr judgment Is better
than the sub-treasury we are
| ready to vote for him, no mat-
ter if Finley and all the party
Ca-sars in Texas do send up
ti e cry of "undemocratic,"
We. the people, are all demo-
crats except a few Finleyites
scattered here aud there over
ithe country. Mr. Finley and
, his gang had better go slow,
I heard a man say the other
day that he was no alliance
man and never expected to be,
but "would see Finley or any
i other man farther in than a
humming bird could lly in a
'year;" Wore he would vote
| as he (Finley) said, and I am
just like him. This is a free
i country and I for one shall vote
against Finley aud his whole
is the
ruling of a tyrant, and no*
.free thinker.
chise cost us ! It cost upwards
of 25,000,000 lives of men and
women that died at. the r-tak"
and on the battle field
Centuries before the re vol a
tion of 1775 thousands w*rt-
burned at the stake for advo
eating what the alliance is now
strngling to accomplish.
Readers we are marohing onr
hosts to thp hilltops of freedom
with flying banners and flam-
ing votes, we will astonish the
civilized world and make each
citizen a sovereign or king
A Troth Seeker.
7
A h<wy burden
—*11 the ills tn«i silmcnt« that only
female flesh is heir to. It rest* with
yon whether you carry it or
down. You can quro tho df
and derangements that prey
your set, with Dr. Pierce's "
ite Prescription. It's a ler
medicine, carefully com
experienced physician,
to woman's delicate
n.
For all organic displacement* and
weakness**, acoompstwd by wsafc
back, bearing-down sensations
for all uterine diseases, it's a
tive specific. U's (/norm
ve satisfaction, In nv+ry
it doesn't, yOaVe r;oljr
for yoar money sad it's el
refunded.^ II it doej, you'll
the chtaneMi vm
I I Mil
Ucmss you. r far
Holiday Excursion.
To the soutii east. Decem-
ber 21, 22, aud 2U lb'Jl, via the
Cottou Deli Route, the ouly
through cur excursiou line.
One fare for the round trip, to
St. Louia, Memphis, Cincinnati
Louisvillo, aud ali principal
points iu Tennessee, Mississip-
pi, Alabama, Georgia Kentuck-
y, and North and South Caro-
lina.
Tickets good for return until
B0 days after date of sale.
Two dailj' «*x<*nraion trains
carrying >hr«>ugb c ac-<es t
th pridcip.il cities m me soiuli
east.
For rates, maps, and all fur-
ther information, address the
nearest agent of the Cotton
Beit Route.
II. M. Carter, Traveling pas-
senger agent, Ft. Worth Tex.
W.H. Winiield, General pas-
senger agent, Tyler Tex.
Kcw World.
New World, problem of the
Contest betweei Capital and
Labor Solved 'political part),
can be had at this office for 75
cents per copy by orders being
sent In before It is out—postage
paid. After the book Is pub-
lished it will be put on the
market for $1.00. Arrange-
ments is tnnde to dispo « of
| a number of these books t«
persons living abroad as soon
as published, tiu, those not
putting in orders may fail to
get any from the first in
issue.
il
Hnritb Bros.
Keep ou hand fr**nh drugs,
patent medicines of all kinds,
Also toilet articles of any do
scription; In fact, everything
in the drug line. Call and see
tbera, east side of the square.
The Use Of
llnraii, drastic purgatives lo relievo
iw.tn M iluugi-roiw imeiloo, utiil iuoto lUlila
to IiMkn tho iho juik'itt uian 10
cut# It. Wluit H nifdwl H n uioUkiuo Uutt.
,U Wtn'tUaUy OIH'UiUB
11,0 coKiivu lmi>U mid wUtWlsBos a uatumi
(tatty .i-'tlon. mik'Ii tm u|>oricirt b louud la
Ayer's Pills,
which, v.lillo Uifroiigli l Action, MrciiBUn-n
a* well usMluiuiutu llio bowctouud cSOfttury
iU r'ir right yenr* I was nflllcled with con-
•MmUmi wilkli ul l.m tx-ciiuw " 'twLy'"
the <lo< l r cMiulat do 110 mow for iuc. rti
I Ix'tim lo Uko Ayer's J'ltU. und «wu Uio
iMtwob Ujciuiii) regular and "Il'urn' n
UkavuinMiU. I am now In cacclleut litaun.
-Win. It. iK'lJiucctt, Hornet, Out.
" When I foci Uio need oj u Mrtuanll. I
lake Ayer's l'lll', and tlnd them lo bo wore
Effective
flutn any otlisriitll I ever took."—Mrs. IV 0.
Urilbli, llurwellvlllc, Va.
'• for vents I have heon .subject to (Vimll-
INttlou ami lu'i vou* houil.u lnsi, canoed hy da.
rangomunlnt tlio liver. After taklimvnrloiui
rtmiodhM, I huvu Itocoiuu enminuod thi.t
Av«' i'llt* are tho hell. They have never
fall '1 t i relievo my billons nttuolin In u short
UlU". mill 1 nui Miro my system ivtuins Its
tun..' loiijrr ivft''r tho use of those I'llK than
liiw been the wise with any oilier uiodli'lue 1
have uiod."—11. K. Sledge, Weimar, Tmus.
Ayer's Pills,
rilCI'AilKH HT *
Dr. J. C. AYEB & CO., Lowell, Mass.
Sold hy all Dealers Iu Medicine.
tij« seiurw
of your
ProofCOAT
I New Gracfir? House!
Goostree & Foster.
FRESH COOD8 " CHEAP COOl
For First Class Groceries of all hinds call on Goostree .£ ]
Hast Louisiana Street, next door to J. i\ Dowel.
A. r. WILSON,
J. E WILSON,
r. m,
A. T. Wilsott&Ci
Confectioners, Grocers and Proprietors
-OF T1IE-
I Befor* BuylOJ.
IJOI'II lotno wsttf In Ut«
. th'«ndUiMM rtown«J« /•
Hie tna iiani si unw
v here u htrolhw# l « """V/,Jrk ll
it is w nr l luiie. i r s-witm ws man*i
MMETv0?> n)<r.S IV.WfigfmewR1
Wc w rr«M Tower's IMI RON LI J'PISS 1
■rin'l Slicker to fc w«t r lwli«sl v ry
train sn.wm '
Hick, srnl *uihorl/« onr '"V'""'
inv (llk'kvrthst fills In - ti«rp"ini. lh«*Sfo
,w>> vii ■ von csn tell Uis HfDttUl® Jinprvttd
fish tUiOdHUcktr.
1st. A Sofl Woolen Collar.
34. TSIJ TrM« A\*rH (Selow.)
Watch Out V
for both tt M Hleltl
StnJ for I'slslufut fit.
A, TOWER. Sfrn Isstsn, *si .
THE
COTTON BELT OUTE
(St, Louis, Ark. & Tex. ll'y.).
TO
ST, LOUIS, CAIRO, MEMPHIS
A nil all poluls bey emu.
Free Reclining Cbair Cars
and Pulnian Buffet Sleepers
The Only Line
1 iiOM TKXAS. BLTtHINO
Through Coaches and
Pulman Buffet Sleepers
TO
Memphis,
And delivering passengers in depots ol
«onn«ctnifr Does without a long ana
disagreeable outulbus transfer across
tbc cltT.
The Shortest Route
TO ALL POINTS IN TUB
SOUTHEAST.
No. 1 8 West Louisiana 8tre6t, Bingham Block,
Respectfully solicit your patrons
BO ADD AND LODGING, l'Klt DAY
i, . >• " WKliK <j
•• .. ', MONTH...,
Meals, any hour between G a. ui. aud b p. m„ for 25 <
F. EMERSON, T. T. EMERSON, T. H. EMEUSOJi,
President. Vice-President.
First National Banl
OF M'KINNEY, TEXAS.
CAPITAL and SURPLUS - - $125,v
Buys and sells exchange on the principal cities in
First-class uaper discounted.
DmecTOKS : Francis Emerson, T. T. Emerson, T. H.
Jno. L. Lovejoy, C. H. Welch,
Business hours—9. a. m. to 4 p. m.
Tonsorial Parlo]
J. W. BRADLEY, Proprietor.!
Nothing but iirst-class artists employed.
Hot and cold batbs always*
Southeast Corner Square.
The National Commercial College
SOI1 DENI80N,
INCOUPOUA'l'KD I NDKl: T1IK STATE I.AWS.
THE UBEATE8T BU lNt 8 fOLLEUE IN AMEBIl
PRACTICAL Bl 81NE 8 MKN AT TUK IIKaD.
AU Texas lines have through tickets on
sale via
The Cotton Belt Route,
h'|uan: icri ihw s|inw, sia vai ivawn w. J
psrlors, reading rooms, lecture halls, elevators, hot water liestcn?, g«M
lights, tc' c, -jtit, kttr r presses, IU own po tolllce, 'il tvpewriiwi,
couvenleiiw^ ol uiodern education
Thu instructors hays no superiors In their tine. .
Theu oomc where you havo every •ouvenlonce to ma! « of yonr «S|
business wan or woman In tbc sbertott possible time. Kor caisl«|«* |
T. W. ROACH, M 'C*y., D«* Hon,1
A. 3STKW DKPABTUBE.
Every Crnduale will be u«islllle«l to All an Important position,
No time waited, no superfluous branches or nottens taught.
E>cry hour, every intellectual elTbrt, eveiy binrl-beai iwnlto
complete the cboscn branches.
Ruici., maps, time tables and all No pupils graduates until they are thorough, aud have proven w
Information will be cheerfully furnish- doing work In some ofllca, bank, or school room, these place tons
de on application to any agent of the bJ. y,,. c0 ct;t
K. M,curler, W. II. WakcHeld, ' he liarijest and Uost Furnishrd Col lose In tli«" La <
Ft.*'\Vorth* * 0n' '"TowkuS 30,000 square feet fl(K r space, six car loads of furniture, at
11. U. FLKJKI5(i
VjivAjrArat.d Uhtaf Ulan in 1 *t
GRATEfU L-COMFOBTING,
Epps's Cocoa.
Iilitt AKFAST.
"11/ a tboroagb Suonl«d • of taea Mural laws
wbich KOTern Hi* opera'ionr of uIkmUoq tad
l>utrltlon and bjr a carvtui uppllcaltoo of th*
tine properties of vrell olectad Oocoa, Ur. Kppa
ha< prorl led our breakfast Uhtan with a dall
call ly navored beraracs watch tnajr save ua
many beary doctor*' bill*. It la by the JuJle
loua uae of aucb arttelea of din tbal • eonatitu
lion may b« gradually built up uoi!t Kroa«
eoousb to resist atrry tendency to dlwaaeJ
TTnodreda of mibtla maladlm are floatiac around i
us raady tc attack wbaraver there la a weak
point. We may cacape many a fatal abaft l>y
keeping oursalraa well fortin«d with purs btoed
and properly noun the I frame. "-CItII Service
Oaxetteo. Made rtmpfy with boiling water or;
milk. Held only lo balf-i«tmd Una, by Grocers, •
labelled thus :
JAMtH Et'l'S & 00.. ljouioeopalble CbetnMs,
Loadoa. England
awfi
rHC OmCJlAL AND
tir dMaJ
rlMsm
Uilis, <u* Ur«r<
44N.IS StMSffj t* T'Srt4**lart.
to.anflTeo'ieMtiti
MS kr all ILncat Ur.aal.u-
Ml
.A.
ns«'s rivl l-r-autinri tkc Mir.
$525:
Agents' profits per month
^vlll prove It or pay for-
feit. New portraits just
out. A93.00 sample sent
free Jo all. \V. li. C'bldcstcr A Hon.,
28 Bond St. N. V.
ONS1 J I/i p T I V t.
A
A A A A A
A A KYSTKM MAKING STOCK
AND OBA1X Speculation practi-
cally an Investment, Proflta large and
almost certain ; loss Improbable. Kx-
!'.l*istorv letter mailed by nddresslng
ril* Ml TL AL SYNDICATE, 0 Wall
St., New \ oik.
MANHOOD!
nsdl
If you wl*h w good
meal or Itinel) eall on II,
Hammond, opposite J. p.
Do well's hardware store.
14t;tl
TOIilC. I( f jfr# t"i* •.^st C.mfh,
mfiifntum. N In. Tali? In lime
-bSMKK
• r.NI«M«Is IMIr
WMMMS1
BUCKSKIN BREECHES
agST MADE,
a*ST FITTINO,
•CtT WCARINQ
in the jsoslpt
Mrnlidind i|J, R, BOQDWIH k CO.,
CVANSVILLC, INO.
--
ftRR.
M/mmm Ar,
tM kaatiftStiiJfly** bM
tr«Mre"raere valMWa' '• •
PVpntftiT
.hwtrMiw.
SSm'SMTk'
•fraeaa (Ma
blelnf
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Thompson, F. C. The Democrat. (McKinney, Tex.), Vol. 8, No. 43, Ed. 1 Thursday, December 3, 1891, newspaper, December 3, 1891; McKinney, Texas. (https://texashistory.unt.edu/ark:/67531/metapth191705/m1/4/: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Collin County Genealogical Society.