The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1881-12-15
nArlrAL anlnn nraaINa

Glass mail matter.
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CAPITAL CONG BEooIN0.
Some months ago we took the position that
40 much money had accumulated IN Eastern
fsanoial 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
= 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 persistently
insisting upon here. The fact isno longer
one of doubt that the organization OF STOCK
companies and the Inauguration OF sys-
tematic effort by citizens Of this State to en-
list the active cooperation of foreign capi-
tai in our behalf, and n 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 necessary to take
the proper advantage of these things,
while listless apathy characterizes those
most deeplyt 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 fact
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 a very recent issue
says editorially: "Oflate 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
ments of 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 inexcusable indifference on the part OF
those who are able in many instances to
bring about 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-
riched, simply organize the movement,
gather the proper evidences of its prolita-
bleness and chances for success, and apply,
through the proper sources, for assistance
to Philadelphia, Boston, New York and
perhaps other similarly situated localities
in this respect, and all difficulties may be
removed. OF course mere Adventures and
the Colonel Sellers class ''need not apply,
but capaple 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 10 the tendency OF this
boarded wealth TO rush into
speculation il the absence of more leSiti-
mate channels. If the proper means
had beer adopted to ensure the distribution
of this capital by the boards Of trade and
controlling business lights in the various
nortions Of the growing West and South,
much of the dangerous and dsastrousspecu
lation of the past few years might.ha been
ayerted and the remarkable prosperity
of the country at large, increased nun
dred fold. But If neishborhoods and indi-
yiduals will systematically neglect their, as
In this case in more senses than one, really
"golden opportunities" they cannot
complain Of failures. and retarded growth
and depressed times. But many, less
influential and unfortunate "a great
er degree, chiefly feel the burden land
are principally the laboring class with
whom g burden means suffering, and suf-
ferinr. too, unknown in many instances
from the obscurity Of the subject, and con-
seouently 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 Texa, and every
State Of the South. But 1t takes enterprise
and labor in interesting capital and thus
furnishing the oil for running this vast and
complicated machinery. Yet the proper
course under the circumstances win inevi-
tably achieve the desired consequences.
Who will first act'
.-erru<ur.s r~Rra~ porrrV