The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1874-11-21
WHY rIMra AnE mann.

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WHY rIIEs Ann HAND.
Aside from the general pressure Oi
the money market aud the stringency
Of the times throughout the United
States at this time, the cnuses for the
scarcity Of money In Dallas, and in
fact all Texas are quite numerous.
There II too much money sent out OF
Texas for "western produce" such as
flour, bacon, lard, potatoes, onions,
and every other imaginable thing,
all of which can be land should be-
produced in Texas in the greatest
abundance. This state of affairs is
simply absurd and shameful, and
should not exist. There is no excuse
for it. II our soil was barren and UNI
productive there would be an excuse,
but such is not the case-in fact, 1t is
just the reverse. When our farmers
turn their attention more to the cul-
tivation and production of the above
mentioned items we will have more
money and better times in Texas.
Not only are our farmers responsible
for the tight times" but the "town
people" are equally responsible. We
send too much money out of Dallas for
iron fronts, iron cornices, sash and
doors, brooms, buckets, tubs, wagons,
plows, furniture, cotton goods and a
great many other things too numerous
to mention. All these things can be
manufactured right here in Dallas, and
it will pay "big" to manufactuIe them
The fact is Dallas must go to manufac'
turing, and she never will have any
backbone" until she does. Another
serious cause of the scarcity of money
in Dallas is the miserable condition OF
our city finances. A great many peo'
pie think that the mayor and members
of the city council are to blame for the
disgraceful state of affairs, but such is
not the case altogether.
The principal cause for the financial
muddle lies in the city charter, which
is defective from the beginning to the
end. If all the city Indebtedness that
is in circulation was ut par land there
is no reason why it should not be)
would it not be very great help these
hard times? The charter should be re-
uisaJ aud ,,,,orh,nJaJ bx, <,yJn and oo,,
petent persons, all the property in DIAL
las fairy assessed and the taxes collect
ed promptly, which cannot be done
without great delay and hindrance I'M
der the existing charter. The city fl
nances being in such bad fix it is due
the present city administrations TO state
in this connection that on account of
the serious defects mentioned that they
have had their hands tied and have
not had fair chance, and the people
should not he too hasty in condemn
ing them for things they cannot help.
The difficulty can only be removed
by the legislature.
There are numerous other causes for
the scarcity Of money in Texas, among
which may be mentioned, the
homestead exemption, which should
not exceed two thousand dollars, the
scarcity of national banks, the abb
sence of an usury law, ETC., etc.
When the farmers raise more
"western produce" and the ''town
people" turn their attention to manu-
featuring cotton goods, furniture, ETC.,
and the legislature gives US a bran
new city charter, and our lawmakers
reduce the homestead exemption to at
least two thousand dollars and pass an
usury law, and the citizens of Dallas
start another national bank and in
duce outside capitalists to take stock
in it, we will have more money, more
confidence, and better times generally.
Real estate will advance and Dallas
will grow in short time TO be the In
dianapolis of Texas.
1t does not speak well for our people
that money is scarce and is hard to
get, at three per cent per month in
this great country, that has so many
elements of greatness, splendid rail-
road facilities, soil that simply can
not be excelled and a climate that
rivals that of Italy. Instead of bank
ing capital of two hundred and fifty
thousand dollars, (rather an extrava-
CANT estimate,) and money at three
per cent per month, Dallas ought to
have banking capital of not less than
a million dollars, and interest should
be ten per cent per annum. There is II
legitimat, Use for this amount, and the
country demands it. The people can
bring about such desired state of af-
fairs in shorter time and with greater
ease than they imagine they can, if
they will only try. The whole remedies
are in their hands and it only remains
for them to apply them.