The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1877-10-21
HARD TINES.

Inc number oi Important uohlmtFs
cial failures now being announced daily |
Is appalling There is now no special
panic, although that condition seems TO
have become chronic ever since the
good year 1873, Commerce received a
staggering blow then from which it Ia
impossible TO recover under the general
policy Of a speedy return 10 specie pay,
mont When we reflect that values
have shrunk since the date named fully
thirty per cent we can understand that
the distress in the aggregate amounts
to something wonderfully grave indeed,
and ia calculated to affect very seriously
that confidence without which no real
commercial activity can exist, and no
satisfactory result can be hoped for.
These failures are common TO no par
ticular region of the country, They
are found in every considerable city
and obscure hamlet in the land, show.
ing that al business alike sympathi2es
with the hard conditions. Yesterday
we announced the failure of n large
drug house in Philadelphia, heavy
bank in New Orleans and the failure Of
II heavy print manufacturing company
Surely that was field day of disaster
Such circumstance ten years since
would have caused clNmor in the com.
mercial world, and the press of the
country would have been filled with
comments, Now, nothing is said be-
You'd the brief Geographic item am
nouncing the failures, The apathy in
dictated by this apparent unconcern, is
a circumstance fraught with evil and
fills the thoughtful mind with appre-
hension for the future. When u lapse
from virtue excitcs no disgust, the NOR.
ais OF n community are at u low ebb.
When wanton murder is suffered to
pass without arousing the indignation OF
society and the vigilance OF justice, the
lovers Of good order, purity and peace
may well bewail the lost character OF
the country, So, too, in commercial
matters. When failures like these eX>
cite no comment, it indicates that the
general apathy will prevent the appli>
cation Of n remedy adequate to the cure.
THERE'S but one policy possible now,
for either present relief or future pros.
perity, and we honestly believe that lies
in the prompt repeal Of the resumption
act and the creation of demand
abroad for our superabundant produc-
tons. Congress hol DIS both these great
measures in its own hands, and ii is a
democratic congress, Do we reckon
without cur host, or beyond n reason.
able hope, when we express the conf~
dence that the resumption bill will be
repealed, and the tariff restrictions re,
adjusted and arranged so that our own
industry will meet q sure and reason.
able reward
1t is pitilul spectacle to witness a
country eroaning under its weight of all
the elements of II glorious prosperity
impoverished, bankrupt and in distress.
1t argues n state of Incompetence, waste
or dishonesty almost passing human
credulity, We need profound, genuine
craftsmanship; we need financial grasp
and thorough integrity; we need u fear
less and alert man at the head of the
financial department. of the government.
There is no more legitimate field for the
employment of the resources OF theg gov.
eminent than in helping the people to
restore their wonted prosperity