The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1877-01-24

tiuence In causing failures and the en-.
enlargement OF frauds upon creditors,
the agency very clearly photographs,
In u few lines, the salient points Ia
favor Of better business future:
The came conditions which favored
an Improvement In trade, In the au-
tumn OF tho year just closed, and
which to some extent were participated
In, still prevail. 1t 10 true that the
gloomy cloud OF the political contest
0bscures these conditions some ahat,
and that winter Of extreme severity.
with difficulty OF transportation and
other causes, retards their action 10
some extent. But that these favoring
actions not only exist, and continue TO
increase, none can doubt. The year
Just closed has been n i0ost prolific
one In largely augmenting the wealth
OF the country. Cotton, grain, sugar,
tobacco, gold aud silver, petro-
leum, and numerous other resources
Of this great continent have
been produced In quantities sufficient
TO yield nearly 1900 millions OF dollars.
While tho producing power Of the
nation has thus been exhibiting itself,
on the one hand, the economy OF its
people has been equally clearly de-
monstrated on the other The impor.
tations have dwindled to dimensions
smaller than was at one time thought
possible, and the restricted purchases
OF domestic IA well an foreign goods,
In oil aectiors OF the country, afford
the strongest possible indication, that
the foolish extravaganza which 30 uni
VERBALLY prevailed Ia the first flve years
OF tho decade IL teing succeeded by
lessened living and business expenses,
aud u safer basis generally " thus
being reached.n
Even the severity of the winter,
which to many Is an undoubted ca.
lamity, has, according to the circular
before us, compromising advantages
that may contribute to M improved
Spring business. Our country friends
will be able to say whether these
conclusions are we'll founded or not,
though they seem sensible enough:
"rhe abundance of snow, which Ia
termed the poor name manure, and
which unquestionably enrlches and ir-
rigates the soil, also protects the fall
crops, besides providing all abund-
ance OF water for the cattle ON thou
sand hills, which were impoverished
for need OF 1t all the early spring last
year. IL also makes magnificent
country roads, the advantages Of
which are obvious when 1t III remem-
bered how seriously trade last year was
interfered with vt this and later PEE
RODS, when the roads IN whole seq
tions OF the country were impossible
from the want OF frost and snow. The
delivery Of grain, pork, and other farm
produce, will during the present sea-
son, throughout the North and North
west, be- ut least double that OF the
winter months OF last year, while the
operations OF lumbermen will be
greatly facilitated. The consequence
Will be much freer purchases ut coun-
try stores, larger absorption OF goods,
and more active circulation OF our
rency than has been witnessed In some
years past"
The agency concludes Its very ex-
haustive review by a suggestion, that
In times when economy 10 so much In
vogue, care should be taken to distin-
guish between what 10 true and what
10 false economy. II Ii very truly re-
marked that a reduction Ia expenses,
which impairs efficiency, or which In
creases tho unavoidable risks to which
oil business men are exposed, 10 not
true economy. 1t would DO for
instance, false economy to cease
to insure against fire, because the saw
ing Of the premium might reduce ex.
penses 1t would be equally unwise TO
change from strong to weak insurance
companies, because saving could be
effected; and 1t would be the ex-
tremist folly to dispose Of u nrst-class
fire. proof safe and procure q weaker
one, only because 1t was cheaper. On
the contrary, true economy would be
more evident on the part Of the mer-
chant II he sought to strengthen the
companies In whose safety he had 40
direct an interest; or still more EVIL
dent II, being In weak companies, he
changed to the strongest. How far
this rule applies to the aids In obtain
Ing information, II il not for us TO say.
though Messrs. r. g. Dun d 20. seem
to have reason on their side when they
urge that III these aids are second
class and not the most reliable that
can be obtained, the certain losses to
which all are exposed are needlessly
enlarged and increased"