The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1877-09-08
rHt cLosF % a. coHesRclal YEAa.


TIE CLOSE Of ThE c0EGsRclAL YEAR.
Yesterday closed the transactions o.
the compogcid year for R.-7T xld
glad indeed would we be could We Say
truthniiy that it has been one Of un~
broken prosperity for the nerchan T.
The great .tringcney of the money mar I
ket al it, coramenoen has continued {
until the close. Bat few merchant. in
any line have bad at any time even
small surplus Of money No new or
startling successes have been aehier ed,
and every one seems satisfied that they
have been able to hold their own, sim-
ply pay expenses and avoid debt In
every instance even this negative
success has not been met. Several fail
ures have marked the history OF the
years commercial operations
The failure to complete the Dallas
and Wichita in time for the fall busi-
ness has worked serious evil to our
trade; the stoppage Of building opera
| tons on the Texas aud Pacific has
been another wet blanket TO Dallas
1t Is now plain to all. that unless the
extraordinary striugency now prevail-
ing is relieved by speedy supply of
abundant and cheap money, that not
/ withstanding the abundant crop we
/ have and ares,ill harvesting we must
content ourselves with another year of
( dull times, make shifts and bare avoid
ance Of bankruptcy II is exceedingly
Notifying 10 Us. that with all our spen
did possibilities, candor compels US to
make the above admissions Ii is little
consolation to say that Dallas has done
As much as any other city IN Texas,
better far than many Precious years
are gliding away without marking the
progress they are entitled TO and would
surely make, but for the insane policy
of contraction entered upon by the
government, under the auspices OF the
bondholder
=. Notwithstanding the chill resting
upon commercial and manufacturing
business. both the city and the count,
has gone ahead a. rapid pace. simply
because of the confidence of the people
in early congressional action on the
money question, no less than in the rici
soil which does lis part nobly, and il
only held down by unskillful and dis
honest handling OF the public resources
The general shrinkage in values ha
affected us in north Texas TO 8 very ap
precisble extent, while il is vastly les
; than in other states. yet it serves to re
tard matters just at time shen til,
5 evil cannot bat be serious The tide o
4 immigration which has already set ii
in good earnest will have he effect o
relieving money matters and in quick
ening trade a little These are the onl
prospective eifsetts to the diseouragin
4. circumstances of our wheat yet remain
ing unmarketed, and the cotton bust
ness opening ut discouragingIy low fig
ures for the staple
Freights have been fair for the com
, mercial year just closed, and while on
transportation lines have had har
, times. yet they have been able to NEE
she situation by tolerably liberal cor
cessions to shippers, thus showing
3 commendable disposition to share tn
l. common burden of hard times.
c Many rumors Of discriminating rate
e have been flying about, but our utmos
5, vigilance has failed as yet to trac
It them to any responsible source
h Now we have given a necessaril
n brief and imperfect resume of the con
V mercial situation and we do so in ordt
II to apply the lesson so plainly taught b
the circumstances by which we hay
been surrounded during the past bus
:" ness season. 1t plainly teaches Ill
e necessity of economy, care and entei
9 prise when such promises the chance
y success. We must content ourselv.
y with moderate profits and with spal
l. ing outlay. In other words, ne mu,
q bow our heads until the storm pass
1t over, doing with our own hands tn;
u which formerly we hired others TO d.
Income and outgo must balance, an
blessed is the man who has kept thel
even during the year past.