David, Here a simple way. Again not tested. I don't know how long INSERT (old command not INSERT - SQL) will be supported.

USE YourTable
COPY STRUCTURE EXTENDED TO strYourTable
USE strYourTable EXCLUSIVE
GOTO 3 && Go to position where you want to insert the field
INSERT BLANK
REPLACE Field_Name WITH "FieldName",;
        Field_Type WITH "C",;
        Field_Len  WITH 10,;
        ..... && All neccessary fields 
CLOSE DATABASES ALL
CREATE Temptable FROM strYourTable
USE TempTable
APPEND FROM YourTable
*** DO ALL INDEX ON Here
CLOSE DATA ALL
ERASE YourTable.*
RENAME TempTable.DBF TO YourTable.DBF
RENAME TempTable.FPT TO YourTable.FPT && If you have a Memo/GENERAL/BLOB fields
RENAME TempTable.CDX TO YourTable.CDX