The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1873-10-04
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The present season lahy fr the mos
trying upon the prospects, patience
aud nerve Of our people Of any through
which we have passed since tllc sword
that "glcamcd alofp' during the "latc
uupleasantness,u were returned to tlicll
homes In their scabbards. The fearful
faults aud failures that prevailed our
Ing 1867 and 1868, when free labor ~
nm experiment, was demonstrated as =
losing enterprise, and In It's downfall
ruined many whose hopes and fortunes
had survived the ravages of destructive
warfare, were nothing compared to the
issues we must prepare ourselves t.
meet at no distant day in the future.
The general bankruptcy that followed
from the results of the years just men
toned, does not equal that which has
come upon the country, in the past
thirty days, in theuniversal suspension
of the money institutions of the coun
try. A lew men have controlled the
finances of our country ever since the
war. They have been successful IN
every "raid" they have made upon the
national Golfers, in every corner they
have constructed upon the commercial!
interests of our people. These men
grew into such gigantic proportions IN
their own estimation that they realized
the, sublimest extent of their power,
and trusting it too far have
swamped themselves, and set the
whole nation bowling over the
calamities that have fallen upon the
people. There is no calamity upon Us.
There is not dollar less in the country
now than there was sixty days ago.
The financial strength of the govern
ment has manifested itself in the fail
ures of its individual enemies, and IL
we but shape the advantages ANA OPP
Dortunities now before us In strict ac-
cordance with the dictations of true
wisdom, the panic that Is now upon
the country will prove the greatest
blessing that has presented itself to the
oppressed millions of America since
the war. The great ring is broken that
has encirclcd and bound every
Il To. n-
The corner-mcn, with their bulls and
bears, are powcrless now to tear away
the latest and best flesh upon the
body of our goXerrn.ens--they are
down, and the people should strive to
keep them where they are. We have
long since learned that II "national debt
is not u national blessing" and Jay
Cooke and his associates in frauds and
spcculations are learning that govern
mcnts were instituted for the benefit
and protection of the greatest number,
and not for the money kings who live
under it. 1t is the North that is in
volved in the present crash. 1t is their
fight. In it the people of the South
are not interested. 1t may take weeks
to decide the issue in which credit is
contending with cash, and in which
spectators arc being slaughtered by
both wings of the contending hosts.
Let us bide our time and patiently
wait until money matters rcgl-
late themselves, and the great
fact is once again established thai
there is one hundred cents in every
dollar. 1t will require but few weeks
to demonstrate that the mere sigma
ture of any man is not worth millions
margins are one thing and that profits
and losses are something else. One
half of the money that has been lock-
ed up to protect the certilication of pa
per exchanged for stocks in the Wild
cat schemes about which the whole
Yankee nation has been crazy for the
past five Years, invested in the material
Improvement OF this State would
have made it an Eden on earth, and
would have secured to those investing
in the development of our resources
something more tangible than worth
less scrap of paper on which Jay Gould
or Jay Cookies name appears in char
acteristic boldness. The time will
come when material will be more
sought for than theory-when sub
stance will be more sought after than
shadow. When that time does come
an ARE ofTexas land will be worth
quite much in Northern markets as
>L.,r4 ia the spectators associations
Of New inrk city.