The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1877-03-10
The BUSINESS OUTLOOK.

lance OF secure, economical and honest
administration Of governmental affairs
to the ordinary daily business Of the
country. Capital is sensiWe-feels the
influences Of security and doubt at
every turn, When extravaganza pre-
walls in the expenditures Of the govern
ment, its securities are deprecated to
tho full extent Of such influences but
when the contrary policy prevails they
appreciate. 1t would be too long a
chapter for us to give all the causes
now, Of the extraordinary depression
which has prevailed for the last three
or four years, 1t is well, however, to
remember that part of this is due un-
doubleday TO the threatening aspect
heretofore of affairs in Europe. An
uneasy feeling has prevailed for two or
three years, and American commerce
has sympathiaed intimately with the
depression natural to this disturbed con-
dition. But with the present prospect
of speedy and complete pOcication in
Europe, and with the settlement of our
own immense governmental problem,
we may with almost perfect confidence
predict n revival of trade in all
branches, consequent upon the sense Of
security felt in every department Of
government and trade.
The chief value Of the changed con
dition, to us of the South, is found in
the fact that the new administration is
now squareIy on the record as tolerant
and even fostering in policy toward our
section
The finance question, the relative
merits of an early return to specie
basis, and the other Of initiation, are still
open questions, AID no two men OF
either Of the great political parties OF
the country hold exactly the sam,
opinion. The evident policy of libcrali
ty toward the South on the part of Mr.
Hayes, will tend to so restore confidence
that every particle Of muscle and every
dollar Of capital in the South will be
expended in the effort to make the
coming crop the largest ever made, anc
this, with the prospect of an eager an
profitable market in Europe for oui
great staples, practically insures {
business season Of exceptional success
To this end, let Texas bend her every
energy, and when she does, the cllcc
will he immense, 1t is true we bow
unwillingly to the behest OF the deci
sion, but we arc too wise to fight agains
fate, and would rather make the best
use OF the opportunities yet left to us
Our farmers have learned a new lessor
in the thrift which comes through the
uniY avoidance of debt embodied
in the "pay-as-you.go' theory, Ou
merchants have drawn in their lines o
expenditure until income and out.gC
are nearly even, with perhaps small
but healthy balance in favor of til,
former.
Population in popular governments il
power. SO too is money, Texas needs
population and money both. Let tn,
immense energies of the people be ben
in the direction OF securing the one
and the other follows MS matter o
course, Oar State finances are upon
sound basis, Our State paper is very
nearly at par, and the new assessment
now being made will show several mil
lions increase in the taxable values owe
last year, The increased revenue &C
cruing from this will pay interest Oh
every dollar we owe, and materially de
crease the principal. With public credi
unimpaired and private enterprise prot
itably directed with our iabulously ricl
soils, genial climate and other agricul
tural and commercial facilities, an,
with a national administration at leas
not hostile, if we fail, then we do not de
serve success, Lei every earnest worke,
in every walk of life and business il
Texas, bare his arm for the coming sea
sons struggle, and the result, insteac
OF simply being not doubtful, will aston
ish the most sanguine by the Gullnes
OF the success achieved.