The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1873-05-15

We turn from those gigantic
drsams Of impracticable men 70 ths
simple and eary relief afforded by
lhs rivers and Waterways Of tho
Continent, which, az Pascal oncv 40
beautifully said, "~ro moping rouds
that carry us whittier We wish 10
60" II IL a weil'knowp h.ct, as
some time ago numerically stated
by Prof. William J. McAlpins, Of
New York, that tho Eric canal,
during the season Of navigation,
conveys moro freight than all tho
exis,ing trunk railways together.
Such q water. way, were II open oil
tho year, would perform nuarly ten
times the total carrying business of
the most thriving railroad from the
East to tho Wsst.
On the great railroads tho cost
Of transportation averages from
30 TO 280 cents u milo for each
ton; while, by contrast, on tho ca
nails, IL is about 9 mills or Q l0ths
Of one cent per ton Eer milo. Tho
canal carriage is therefore nearly
800 per cont cheaper than that Of
tho railroad "nnd orr most accu'
rato engineers OBSTINATE that, II
competition could BIO created, by
completing tho James River, Kan
swha and Ohio water line, il could
be made still cheaper. It ia very
evident that tho true solution Of
the chenp transport problem shat
proposed last year by General
Grant, in hiS executive message to
Congress-, yiza The completion OF
this Traus.Alleghany waterway,
and the opening of similar water
highways from the scabonrd to tho
Mississippi Valley. vr.Ha
Tho State Of Virginia has offered
TO girc her canal Ito the Guvcrh,
ment on condition that Congress-
complete il TO the Ohio river, and
mako ii q grand central national
thoroughfaro for Tho commerce OF
tho Mississippi Valley This work,
which has, already had $1,000. 900
,ovnended on IT, and now reaches
from tho sea to the Al'eyhanylsun-
nit, would be open, on an averelfo
ten moaths in the year, agaire' liz
Erie Canals nix md halfmuntns
With the improvement OF the si's
sissippi rivers, and the construction
Of ono or moro iirst,ulass canals,
thorc would DO al immense i'm
provcmcnt in cvory kind Of West
crn enterprise aud labor. We ear
mostly trust tho convention will
give this subject the profound At
tontion it go much needs, and which
all tho interests Ut the people dc
mand for It, st. Louis Globe
-.---&>-%- -------.--g
why ssvsesbsehs sve Dsp,rssassdt
The Cbisago Tribune tries TO answsr this
query ~ follows;
Being a promise Of the Government 10
pay gold, and il bsing Presumable that the
GoverAment will DO able TO pay all ito
1ebts. Why are gresnbaeks not worth par
The Answer to this makes II necessary to
rscsll the fact that a. the beginning ofthc
war the Government had no sufficient
supply Of ready money with which 10 pay
for The munitions ofwar. ltsongh thes.
Of the people on credit, promising TO pay
for them In gold, ana the SS6j, 0U0, 900 Of
grssnbaoks represent that part Of the debt
whish the Government promised to pay on
ds,nand--at least this was the inference,
because there VAS ne date Of payment
mentioned 10 the gresnbacks A. ,hers was
10 the bends. Besides this, the NAtionsl
Banks have practically promised TO pay
$40, GOO, 600 Of gold in redemption cftheir
notes, contingent upon the 0oysrnnsDt
paying It's gresabAsk notes in gold. Here
are 800, 5000 Of premises to pay gold
on demand. But there has never yst bssn
q sufficient Aneuntof gold ia the country
10 admit Of The Government aud the banks
vsn,uring "a the experiment Of paying
the gold promised 10 their melee. People
see that No buy 80 much more Of foreign
eodntries thau We sell 10 thsm, and We
borrow 40 much TO- bald railroads, and
make city Improvements, that 10 takesal
our ready .meney TO pay ID the balance o.
trade, snd the 500, 200, 900 Or $l20,000C0 600
Of annual interest on the debts We owe to
Europe. r This is,lsaviLg less AND, less
money 10 the country every year. and, %
the prospsct of .aocumulaiinx enough
money 10 pay those $7O0,000,0 1000 OF Do.
maud notes does not improve, there 10
| lack Of confidence in their payment. Thii
is the whole tecrstt Lack Of con6dene
in the accumulation Of Sufficient Of u
worlds money gold--to pay ths, ns'si
Hence IL 10 that, whenever the mcneyr-,e
gsld--is exported more largely ihsn usul,
the value Of grsenbacks and bant mes
decline the proportion thst cos6dsss
10 thu accumulation Of real money inhis
country denlinss, ...,.,.