The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1877-07-19
THE BANK TROUBLES.


81. llouis are. having trouble,
nothing serious however soeme 10 be !
apprchondoi The movement orlgina.
tod among thoworINtng people, small de-
positors having their hoardings at the
savings banlSs II Inns now been five
or ak days since the run began, and
il has hardly been felt outside Of the
small circle in which II originated A
few nervous people doing business with
the heavier concerns have taken the
alarm, but prompt payment in all cases
Inns served to allOy the approhensions
and deposits are being returned
This would he indeed u very awkward
season Of the year TO commence for
midOblc run, because the banks are
strained to very great degree to ham
die, move and care for the present crop
which is now crowding the market. II
Is duty the heavier banks owe TO
trade, to put u stop to it, even by lifts
ing their lighter and harder pressed
brethren out of the trouble for the
present A good deal Of the business
prosperity OF not only ST. Louis alone,
but the west and southwest depends
upon the solyency Of her banks and
their disposition and ability both TO
extend every needed banking facility to
thecountry tributary to and trading with
her. No one ut all conyersant with
western and southwestern trade but
can see the force and effect OF even n
more semblanco Of panic ut this time,
being, as it is, the middle OF the active
business season OF the year One cons
siderable bank failure, either in Texas,
ST. Louis or Chicago would now
prove an inchlculoble injury to trade Of
all kinds, and one from whose bad ef>
fccts we would be years in escaping 1t
would take so little now TO put n stop
to uneasincss, and If permitted to go
on, the results will bc so disastrous that
we are MT loss to understand how it is
that the bank of ST. Louis was permit
ted to close its doors, when twentyN
seven thousand dollars for ten days
would have prevented the trouble, But
then the banks sometimes have ways
that are peculiar" like other people,
and this IL surely nm undoubted evi,
dcnco Of a peculiarly exceedingly dam
gcrous in these days
Doubtless, by this time, the worst has
been passed but if not, we, in Toxas,
have only to hold our grip for the pres
ont and not suffer the circumstance to
interrupt for moment the usual pla-
cidity OF trade. We have no large de-
posts in ST, Louis, We depend upon
her for no considerable amount OF
capital, and the trade going there
this season. is not based upon
old business relations or upon any
of the complications of commerce
consequent upon long continued an d
heavy exchange of commodities, The
trade having gone, or which is still go
ing there, is of that light and ophemeral
character which is closed on the heels
of the transaction, and does not entail
upon either the shipper or consignee
risks OF Il grave or serious character
However, great efforts were being made
by our producers to meet the evident
desire of st, Louis merchants to share in
the rich trade now seeking a northern
outlet from Texas. There was great
promise in it, but if the present shaki-
II ess continues for any considerable
length of time, the effects will be disas>
ferrous to their hopes for the season at
least. When 80 much depends upon
the matter it does seem to us that st.
Louis is pennywise and pound.loolish to
u remarkable degree, if her solid men
do not step forward in a body and put a
prompt stoppage to the incipiont panic,
before it can assume proportions to
threaten business season of mexam>
Ompled promise.