The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1879-07-31
NO MORE FIAT MONEY WANTED

1t may be most grleVous news to Hon.
G. w. Jones, ard especially to the col
loqmal declaimer of the Greenbackers,
Major Mccoy, but 1t is fact stated by
r. G. Dun 6 Co., of the United States
Mercantile Agency, in their report for
the six months ending July 10, that
Among numerous signs that the con-
dition of trade has materially improved
throughout the country, none are more
important than that business failures
have largely decreased. That the num-
Der of these misfortunes were fewer
than in previous years, the public were
prepared to believe, from the fact that
the announcements of business troubles
through the press were far less frequent
than during the early part of last year.
When the great gubernatorial thun-
derer of the Greenbackers was pirouett-
ing with Major Mccoy about Austin,
and swelling majestically before the
bootblacks- when this great 0Oe ct
pretorea niha was expounding to Mr..
Still the terrors of the country's woes,
he always adverted to the business
houses whose shaking timbers made it
dangerous for one to enter their door
ways. He absolutely shivered with ter
ror when he stood in the vicinity of
one of our banks, and Mr.. Still has not
yet recovered from the big scare given
him when he was told in Stentor's
tone that every corporation was bank
rupt, or would be, and thst there would
be one worldwide collapse if fiat mon
ey were not showered upon the surfeited
multitude. With peculiar pleasure,
therefore, do we present to the lachry-
NOSE Major Mccoy and the frightened
Mr.. Still these statistical statements,
that silence the ieremiads of Hon.
Wash Jones and enable Mr.. Bentley tC
sleep o. nights. r. G.. Dun & Co. say
The failures for the second quarter
in the present year are 1884 in numbel
and $22, 900, 900 in amount of liabilities
These figures are notably less than il
any single quarter os the past five years
com pared with the second quartel
of 1878, the reference In n fsHe5ss "a OF e tn
last three months IL very marked, In
dicating 3 decrease OF over 900 failure
in that period, with decline in Ii
abilities of SEQ, 600, 900 in the quarter
lessened loss or l1ck up by bad debt
OF over 81, 600, 600 per week.
For the first ak months of 1879, th
failures in the United States wer
405s in number, as against 5S25 fo
the first six months OF 1878. The Ii
abilities, in the same period of thi
year, are only sos, 900, OcO, IS agsinf
$3.50, 900, 900 for the irst six months G
last year. The difference in favor c
1879 is, therefore, that there have bee
nearly 1000 l1969) less failures, whll
the extent OF liabilities shows decreas
of over $50. 900, 0O0-precisely one-hal
of what they were in the FIRST 81
months Of 1878. Not the least gratify
ing feature is the marked reduction i
the average Indebtedness of each fail
ure.
We have almost reached the bottol
of the hill. Being there, unless "
wish to double and quadruple Il
wealth of the shylocks and money
lenders, we should be content. An
change must operate dIsastrously
; the people and most advantageously
the money. Lenders. We have sold
|. them for 81 that for which We woul
enable them to exact $s or $5. The
.sre profited, and we lose eaormousl
by every revulsion.