The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1882-06-08
RAID TRANSIT.

So - =
RAID TRANSIT.
4 Sensible Discussion of some Of the nuos-
tions tonnocted with Finance aud Com.
meroe,
have said ma former article that the
surest defense OF the people against the
power of aggregated and combined capital
or money was in the promotion and estab-
lishment of incilities for the rapid transp0r-
tation of commodities and producers, so as
TO enable them to exchange products in
kind and thus supecede the use of money.
have said that | believe the aggregation
of money in Wall street and in the vaults
OF government and other repositories
was the result Of the rapid development Of
the system of Transportation by steam and
sail, which enabled the exchange OF com
modities in kind to such an extent as TO adj
nit of the withdrawal of those colossal
sums of money from the circles of trade
without any perceptible strngency in the
circulation among the people, or detriment
to the volume Of trade. | might produce d
very simple illustration within our own
state: Galveston receives and sells las the
phrase goes, but in truth exchanges about
thirty million dollars worth ,of cotton ir
| each year. Does anybody suppose that
| there were ever thirty or even three mill
| ion dollars in Galveston in any one season
Certainly not, but it is exchanged for cot
fee, sugar, salt, groceries, dry goods, no
lions, implements, liquors, wines, and TIE
like, and the tritiing balances are adjusted
weekly or monthly by entries on the bank
ledgers, and might be settled in full with
the silver in circulation in the town. But
hpu thnca nrpInatc nriuinallu npt IN
from the producers and brought to Calves.
ton for exchange? By means of rapid steam
transportation, the necessity for long trust
and confidence is avoided, and the bills Of
lading accompany the drafts so that with
the aid of insurance TO protect all parties
while the commodity is in transit, the pro.
duce hill of lading and draft all come to
market together. BY means of rapid
transportation, insurance and the
distant or widely separated
portions of the country are enabled to
make their exchanges in kind. Now | ven.
ture to say the examination of the history
of our country's trade and development for
| the past twenty-five years will expose the
fact that the extension of facilities for rapid
transit and the aggregation of money in
the hands of few have moved pari passu,
and assert it to be the fact that the vol
ponds upon the facilities for rapid transpor-
tation of commodities and not upon the
amount of trade, and that an increase in
our domestic commerce will not necessitate
an increase of money if the facilities for
transportation are correspondingly increas.
ed so as to enable exchange of commodities
in kind. Such an investigation would de-
velope and prove more than every congress
ional speech and state paper on the subject
nF what ID 6IOnitia1 (anI n,ustItiol
with the title of finance utter
ed in the last quarter of a cen
fury. Finance is myth and its
discussion is generally mounting mum
merry. Senators and secretaries alike grow
wisdomlcal at its mention and straightwa y
begin to swell and muttera jargon ofstereo-
typed stuff which brings to mind what
whose wise looks and sounding phrases
caused many
%" Is :" Is j. Is to think him circumcised
And so, in truth, he was, perhaps,
Not as q proselyte but for " . {" 50
The commerce of the world is as simple
as the exchanging accommodates by neigh
Dor farmers who grow different products.
1t is neither mysterious science nor po-
litical problem, but simple subject which
is susceptible of solution by the common
est common sense. 1t has become involved
in mesh by protection tariffs and finan-
cial foolery uttered by sonorous senators and
statistical secretaries, vox ct preterea nihil
Money is necessity, but it is secondary
necessity. heprime necessity is exchange
of products and common sense suggests
the consideration of the main subject,
rather than the incident, in controlling the
consequences. But congressional QuiXotes
and cabinet Sanchos insist that the innocent
windmills are veritabe giants, and the
gaping herd of pothouse politicians and
coondog statesmen are in q perfect frenzy
of admiration at the display of strategy and
powers exhibited by the gallant knights in
their fearful onslaught. They are deafen-
firing by battery their laundering shells,
volume of currency" balance of trade, !"
tariff for.reyenue," protection to home
industry" foreign markets. and oc.
casionally a Chinese stink-pot. But
enough of all this. The question l sub
mitted in my former article was whether
admitting both dangerous aggregated cap
ital in money or railroads was more easily
controlled by the legislative power of the
people?
The one is held and kept away from pub
lie sight or control, and may be locked up
in safe cOncealment in the very centre OF
the homestead, secure from the power of
writ or officer of government, whence it
may issue to corrupt society, control legis-
lation, bias justice, suggest usurpation and
support tyranny. The other is created by
the will Of the people, lives by sufierance,
may be regulated by law, to which it is not
only amenable in theory, but subject in
fact. 1t may be arrested by the posse
under the forms of law. or DESTROYED nv the
people whose power it provokes. 1t must
at all times be subject and exposed to the
legislative, judicial and executive control
of the sovereign people, while money capi-
tai, hidden securely away in European
vaults. may exercise every corrupting
power in American government and Amer
lean society of which capital is capable.
Which can be more easily and effectually
controlled? Let the people consider, and,
having considered, answer.
PLAYFAIR.