The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1881-12-08
CAPITAL GOING BEGGING

hNhAN AAipAAAho ~ w WIN Wv
so much money had accumulated III Eastern
financial centres that by proper manage
ment ON the part Of our people vast amounts
could be brought to this section and used
in various enterprises calculated to build
up the State and increase the individual
income largely of many citizens. We are
now permitted, through information from
a reliable and intelligent source, to furnish
evidence not only of the correctness of the
position taken by the HERALD, but the
further fact that apprehensions exist in the
North that this capital will gradually but
surely leave them and come West and
South, if something is not done to create
new. avenues Of profitable investment
at home. With all their material devel-
opment the East and North are
advocating the adoption of the same policy
there, additional improvement and new
ventures, that we have been so persistcntly
insisting upon here The fact is no longer
one of doubt that the organization of stock
companies and the Inauguration of a sys-
tematic effort by citizens of this State to en-
list the active cooperation of foreign CAPT
tai in our behalf, and i II paying undertake
ings here, would speedily result in drawing
hundreds of thousands of money and an
| abundance of sound business talent to this
and other Western and Southern sections
1t is singular, under these circumstances,
that strangers are left to manifest all the
activity and shrewdness neCcssaryto take
the proper advantage of these things
while listless apathy characterizes those
most deeply to be affected in the future
by such movements or failure to
move in the premises. But what
we especially desired to do in this article,
was to call attention to the consideration
the subject is receiving in other quarters,
and reproduce the testimony to the tact
that millions are boarded in the money
marts of the East awaiting opportunities
for winning better returns than the low rate
of interest there received, and which might
easily be tempted away to enrich and other
wise benefit our people. The North Amer
lean of Philadelphia, in very recent issue
says cditorially: "0f late years the amount
OF our surplus capital in Philadelphia al
ways seeking investment, has increased be-
yond all precedent, while at the same
time the rates of interest have declined
very heavily, and the public securities of
the National, State and Municipal Govern
ments steadily diminish in volume. In this
situation those who would not encourage the
use of capital in speculation must be ready
to favor the creation of additional invest
mcnts of a solid and profitable character,
or else the surplus capital will be invested
in remote railway, mining and manufactur-
ing ventures" In other words capital is
going begging for something to do, while
here and elsewhere thousands of hungry
but strong people are doing the same thing.
1t is ineycusable indifference on the part of
those who are able in many instances to
bring about II union of the two, with the
desired profit to the one and livings for the
other, that no steps are taken to accomplish
the same, not to speak of the general re-
sulting good to the community. Let those
who are DESTROYS Of accomplishing any
needed or beneficial scheme, any
venture by which the incorpo-
ratorS or investors may be mutually en-
rched, simply organize the movement,
gather the proper evidences of its profita-
bl'ness and chances for success, and apply,
through the proper sources, for assistance
to Philadelphia, Boston, New York and
perhaps other similarly situated localities
IN thus respect and all difficulties may be
removed. of course mere adyenturers and
the Colonel Sellers class 'necd not apply."
but capable and honest business men can
accomplish much, are standing in their
own light for refusing to act and are keep
ing out wealth and improvements from
their section. Men ought to ponder, too,
upon the suggestion incidentally made in
the quotation from the North American
relative to the tendency of this
boarded wealth to rush into
speculation in the absence of more legiti-
mate channels. If the proper means
had been adopted TO ensure the distribution
of this capital by the boards of trade and
business lights in the various
portions of the growing West and South,
much ofthe dangerous and.disastrousspeCu-
lation Oft past few years might'have been
averted and the remarkable prosperity
ofthe country at large, increased a hun
dred fold. But if ncighborhoods and indi-
viduals will Systematically neglect their, as
in this casein more senses than one really
"goldcn opportunities" they cannot
complain of failures. and retarded growth
and depressed times. But many, less
influential and unfortunat, to.a great.
or degree, chiefly feel the burden -and
are principally the laboring class with
whom burden means suffering, and a suf
f1ring, too, unknown in many instances
from the obscurity of the subject, and con.
scqucntly .unalleviated. There is no reason
why the hum Of the factory and the roar of
the mill, the presence of thrift and grow.
ing prosperity, should not be seen and
heard in every county of Texas and every
State of the South, But il takes enterprise
and labor in interesting capital and thus
the oil for running this vast and
machinery, Yet the proper
course under the circumstances will ineyi.
ably achieve the desired consequences
Who will first act?