The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1877-09-05
OVER PRODUCTION.

OVER PRODUCTION.
The perfection TO which all labor saw
ing machinery has been brought within
the last quarter Of century, Is q bless
ing which II now very thoroughly dis.
gulsed, aud ia likely to remain 80 until |
new fields Of commercial interchange |
are opened up to our vigorous western
enterprise, Our home consumption
has not equalod home production, and
this circumstance taken together with
the worldwide business stagnaton
which cuts US of measurNbly from re,
lief by expectation, enters largely into
our present financial distress and gen,
eral business hopelessness, The only
field yet left open for the profitable EN-
ployment Of our mechanical skill or
rather for the sale Of It's productions, is
the countries OF the far East India,
China and Japan. These are slowly
issuing from the chrysalis state in which
they have been hybernating for several
thousand years, and find that in order
TO cope with the aggressive civilization
of the new western age, they must
adopt its IDEAS implements and phi
losophy,
In doing this the demand for our
implements will very greatly exceed
the supply for many years, Thus we
may expect future outlet for our SUR
plus productions But much will have
to be accomplished before we can hope
for so much. The hoary eastern exclu'
siveness must make immense conces-
sions; the walls, which have jealousy
hidden them, their manners, customs
and wants from our western inquisitive>
ness, must be leveled our steamships
must trouble the waters on their coasts,
our great transcontinental lines of rail
way must carry our improved machin'
cry and its earliest fruits to our Ial
western ports to load these ships, Thus
can we only restore the lost equilibrium
between production and demand. Thus
can we be rid Of our surplus proiitably
and the busy millions OF Europe anC
America receive again their wonteC
bread in tho sweat of their brow, a
formerly,
OF all the great staples of life we have
a suporabundance. This abund
ance is quietly rotting for wan
of consumers, Within the last few
years the Australian colonies Of Grea
Britain have entered the race to suppl,
the world with both bread and clothing
and our late war quickened the Egyp
tian and Indian cotton growing enter
prses, These are proving torm,dabl,
competitors That this is true we can
not doubt, when we reflect that tn,
present war has cut off Russian grain
expectation, and yet the demand is no
increased and the prices but little ad
vanoed.
The great necessity is upon us, on'
| ~ 81 "A nt I,Np ia
creased productions. orsuller immensel,
by reason of the destruction of tina
equilibrium which alone is the safe
guard of both agricultural and mechan
icol enterprise. Since the day whe,
inventive genius has created machinery
by which one man can accomplish tn
work of ten, the nine remaining hav
suffered, except only when increase,
demand has kept things tolerably even
Over production has not been tn
sole cause of our present distress, BN,
management, reckless expenditure an,
neglected opportunities enter largol,
into the underlying causes Of our pres
ent financial and commercial depres
sion. We must so shape legislation a
that new impetus will be given t
trade, Our merchant marine, which
since Semmes raid on the high seas,
has been slowly rotting in our HON,
ports, or is abroad only under tn
English flag, must be employed
The white sails of American
commerce no longer whten every sea
indeed these same white sails are tn
exception. We must do something t.
put them to work again. and only i
this great International carrying trad,
IN no nnonnI M, nv cpontin, m ost,,