The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1875-01-02
VOL, XXI. NO. 16

These roads will soon be necessary &.
Can there be time when this great
stimulus would be more grateful to
disheartened industry2 As soon rs
the completion of the main line is
assured, other roads will also be
pushed to effect connections with 1t,
and each will add to the demand for
labor. and for tho product of our
mines and manufactures.
Finally, these splendid results we
may secure without the withdrawal
of auy portion of our own scanty
capital from productive industry.
If the United States will give the
aid necessary, not by the costly
method of subsidy, which has been
condemned by the judgment Of con.
gress and the country, but with
proper safeguards, by guaranteeing
interest on the bonds Of the COM
pany, the capital needed can be
drawn from Europe. For this loan
of credit, the United States will not
only be amply secured by a lien up
on the road and its valuable lands,
but it will retain oil money due for
transportation of mails, troops and
supplies, rnd all money received by
sale of the lands of the company
also, until the company has paid all
interest due. Moreover, the United
States will regain thirty million
acres of land already granted to the
Atlantic and Pacific, while many
times as much beside, now belon z
ing to the government, but unsvsil.
able, will be rendered valuable when
the completion of the roads opens
our southern territories to settle
ment and give them peace.
Thus, by well.secured loan of
credit, this country, though heavily
in debt, can secure foreign capital
with which to improve its assets,
and add many millions to it's yearly
product of precious metals, cotton,
wool and cattle. As Great Britain
guaranteed the interest on $40, ,O00,.
600 for the building of railways in
India, and now saves many times
the interest in the reduced cost of
cotton !; as France guaranteed inter-
est upon $500, 100000 for railway
construction, and thereby SO increas-
ed in wealth that, bearing all the
losses of a disastrous war, and an
idemnity of 5000, 900 900 francs, it
has already resumed specie pay
ments-so, this land, moro blessed
than any other in wonderful variety
of inexhaustible resources, may
soon laugh at that burden Of indebt.
edness which now paralyzes indus
try.
We pray not for any city. St.
Louis is content with her legitimate
share of the common prosperity.
If the measure urged would benefit
this city, it would benefit others at
the south and east still more. But
q common tic binds us all. We ask
only that which shall bring peace,
protection, prosperity and revival
| Of industry to our whole country,
gladness to the hearts of mnny who
are sad, bread to the mouths of
many who now seek honest labor
in vain, q brighter and more glori-
ous future for the nation and its
commerce, and q closer union than
merely iron bands can cause for
these United States. And thus your
memorialists will ever pray.
JOHN b. MAUDE,
f.. B. DAVIDSON,
JOHN NJ. GILKEsON,
Committee.
UNION MERCHANTS EXCHANGE,
SECRETARY's OFFICE,
ST.. Louis, December IA, 1877.
At regular meeting Of the board
of directors OF this association, held
this day, the foregoing memorial
was unanimously approved, aud the
committee were instructed 10 sub
init the same to the congress of the
United States.
WEB. NJ. SAMUEL, President.
GEO. IL. MORGAN, Secretary,
| SECRETARY OFFicE OF