822 THE POPULAR SCIENCE MONTHLY. 



time forward for several months there prevailed among the mem- 

 bers of the order the most hopeful and enthusiastic spirit possible 

 to imagine, amounting to almost a universal conviction that finan- 

 cial salvation was come. 



The main body of the Alliance was composed of tenant farm- 

 ers, who as a class farm on the " third and fourth/' that is, by 

 paying a third of the cotton and a fourth of the corn as rental for 

 the land. They are possessed of little more than a meager house- 

 hold and farming equipment, and are generally compelled to 

 mortgage the growing crop to the country merchant for the 

 year's supplies of groceries, clothing, and implements. Their 

 hope was to escape from the country merchant, who, to say the 

 least, does not conduct his business on the plan of quick sales and 

 small profits. To afford such escape was equally the design of the 

 Exchange. It may be readily perceived, therefore, that the Alli- 

 ance was wrought to the highest pitch of excitement in contem- 

 plation of abolishing the awful credit system which is a veritable 

 millstone about the neck of the improvident farmer. In addition 

 to the work of public lecturers sent out by the Alliance, several 

 papers published in the interest of the order kept the Exchange 

 topic red hot, while it was also a theme for discussion in the pa- 

 pers at large, so that the general public was in a state of greater 

 or less expectancy. In connection with the Exchange it was an- 

 nounced by the Alliance organs and speakers that the movement 

 would result finally and not a very far off " finally " at that in 

 cotton and woolen mills, implement and wagon factories, a huge 

 printing-house, etc. A plan was formulated also for establishing 

 an Alliance University, with departments of law, medicine, and 

 theology. From first to last several factories have been started, 

 but without a single exception they have failed to reach the stage 

 of successful operation. 



Immediately after the Waco meeting of the Alliance, the twen- 

 ty-five trustees met and delegated the transaction of business to a 

 board of seven directors, which was organized by the election of 

 the following officers : a president, secretary, treasurer, and a gen- 

 eral business manager. Meanwhile a charter had been procured 

 in accordance with the foregoing plan, and the establishment was 

 located at Dallas, in consideration of $10,000 cash subsidy, a site 

 for buildings, and other substantial inducements. The business 

 was opened in September, 1887, in temporary quarters provided 

 rent free by the citizens of Dallas. The published report of the 

 manager for that month shows an expense account of $793.91 and 

 a cash balance of $201.40, or total resources amounting to $991.31. 

 This was a part of the $10,000 cash subsidy, which, though never 

 quite paid in full, was practically discharged and furnished the 

 available capital for some time. 



