The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1874-12-10
NUMBER 40.
THE MONEY KINGS.
The business Of the Euture-Prep
tiOns Making for It.

The Business OF the Futnre-Prepara-
dOns Making for It
Whatever may be thought of the fu-
| ture OF American business and indus
try by the general public, says the New
| York Economist. there can be no Ques-
ton as to the views held by the great
money kings and capitalists on that sub-
/ leot. At a time when the country is
barely commencing to recover from the
effects Of the late crisis they manifest
an amount of enterprise, energy and
confidence which is remarkable under
the circumstances. Men like Wander
bilt, A. A. Lowe, the Aspinwalls, Hun
tingtOn. and others, including even the
redoubtabie Thomas Scott, are spending
millions Of dollars in extending and i'm
proving the grand network of railroads
which stretch from New York over the
entire continent. and in improving the
terminal facilities OF our city. Mr..
Vanderbilt makes no secret that it is
the ambition of his life TO live to see
the new double, or four-treck, line Of
rails laid on the New York Central and
in full operation. And certainly the
ability to plan and execute an enter
prise of this kind is worthy OF the high
est honor. And the construction OF this
work, even from New York to Chicago,
is a grand undertaking, and will revolu-
tiOnize all our theories of transporta-
ton. For railroad with four separate
tracks, two each way, and trains run
ming on them night and day at a given
rate of speed, and with no possibility of
collision, there seems no limit to It's
possibilities. Yet this is what thu dig
ging and mining on Fourth avenue
means. It extends more or less for
hundreds of miles into the interior,
requiring here and there only a few
connecting rails to render the whole
complete.
From this until the LIST of January
the preparations for business changes
will be on an astounding scale. Tt has al
ready come under our notice that changes
are contemplated in the dry goods
trade of this oity involving a total of
sos, ,O00, 600. Changes to a correspond
ing extent are IN progress in other
trades. New firms have been recog-
nized on the basis of the Oh ones with
an infusion of new blood, energy and
capital. There are vague but obviously
well-founded anticipations of similar
movements in other important branches
of business. For one thing, the re-
sumption of specie payment by the fed
eral government is regarded as a fore
gone conclusion, inducing correspond
ing changes In business. For these
alterations new men and capital are re-
quired. Probably an estimate Of a
hundred millions as the total amount of
capital represented in the firms of this
city undergoing q change would not
vary materially from the correct figures.
It is difficult to determine the effects
Of this unsettled condition of affairs
upon actual business operations, al
though there can be no doubt that they
exercise an important influence on quo
tations. At New Years all firms desire
to make as large returns Of cash as pos
sible, and this year the new houses
would naturally desire to make a favor
able exhibit, and would consent to de-
ductions for cash which under other
circumstances wouid not be entertained.
The importanee of the future COM
merce of New York was still further at
tested during the week by the negotia
tions between the Pacific railroad and
steamship companies respectively, and
the conference between Commodore
Vanderbilt, Mr. Jewett, Of the Erie, and
Colonel Seott, of the Pennsylvania
railroads, with GaFret, president of the
Baltimore and Ohio railroad. In both
cases the grand object was the New
York carrying trade.
In the Pacific railroad question the
chief difficulty arose from the tendency
of tea and the higher and more costly
articles of merchandise to be shipped by
railroad across the continent, while the
bulkier and less profitable class of goods
was sent by steamer. The steamship
company wantedithe railroad company
10 divide the profits, and on its refusal
threatened to carry no goods in coDneo-
tion with the railroad. The railroad
company il retaliation threatened TO
start an opposition line of steamers.
The difficulties between the railroad
magnates are somewhat similar. The
Baltimore and Ohio railroad insisted as
a condition of adopting the New York
rates that the New York companies
should abolish the fast freight monopO-
lies which are said TO eat up the profits
of stockholders. Mr.. Garret certainly
seems right in this but MessrR Van
derbilt, Jewett and Scott refused, and
returned TO New York on fast time.-
Detroit Free Press.