The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1882-01-12
rIr pALLAs wrEKLY nnaALD, rnUnsDAY, JANUAny ~

, disturbing Tie yaiue Ofmifoad stocks, m
+ the lOw.ifeighf war that has been R0ln
On between The trunk lines u Nh
legitimate result NJ nefoc competition
Each line IL struggling a. mainiqll
ifs traffic iiut they cannot csnpefs will
the nVors A little tug costing sJOJ
with six barges, can carry moro grain Il
New Orleans than ten locomotives VIII
forty cars each, aud there must be crew "a
each train While iu 81. Louis recently d
/ contract was made 10 deliver corn In Liver
/ pool by the river for eight and Onc-hali
cents. IL cost twelve cents ~ ship u bushel
Of corn from 81. Louis 20 Boston by rail.
| The West has been dependent upon the
| East for an outlet for its products for man
East Is now dependent upon the West for
its food supply, while the West is fast de-
yeloping manufactures. If You take
map of the United States and
study IL in connection with the census re-
turns of our products, you viii see that
Ohio is the furthest state East that Is sell
supporting-that is, that raises food enough
to feed her people. But her manufactures
and population are developing so rapidly
that in another generation she will eat more
than she produces, and she will have to look
10 the West for food supply. In the future,
instead ofcarrying the food OF the world to
the seaboard for shipment, our great trunk
lines will only carry grain enough to feed
the East, ST. Louis, commercially, nearer
Liverpool than New York, as lar as the
grain trade is concerned, and the
food Of The world will net start out to
seek consumers upon the broad
bosom of the Mississippi. look upon
JAY GeyLD
as the greatest and shrevdest railroad
financier in America. His chief invest
ments are west of the Mississippi river, and
will become feeders to the river. They will
pay dividends when the great lines east of
the river are bankrupt. These are some of
the reasons | have that lead me 10 think
the improvement Of the Mississippi river
one of the great immediate questions of the
future. When it comes up you will lind
the States Of the East, the capital and the
people, the oldest civilization of the Union,
arrayed against the improvement and the
new civilization of the West. So fierce will
be the contest that it almost lead to a
rupture. But it is bound to come. The
sectional strife between the South and West
has been dropped and they are looking
mutual development and possibilities III the
face, and are discovering that their in
terests are mutual, and that that grandest
gift OF creation to America the Mississippi, |
nav binds the West and the South together
in one future and one destiny. st. Louis |
will one day be the largest city i'll the |
world. This Middle and New England |
States have hated the South and kept alive |
sectional warfare, because they have thus !
been able to make the West pay tribute to |
the East in all transactions of trade; but !
the grand laws of trade will assert them |
selves and commerce will seek national !
channels
"Do you think the present prosperous
era will continued"
me; think there will be
PANIC INSIDE OF EIGHTEEN MONTHS.
There is not Il business in this country to-
day that is not out of joint. The price OF
production of labor and material is increas-
ing, and will increase while the price OF
products stand still. No man can look
ahead six months and, with safety, fix the
price of any manufacture This is an I'M
natural and unhealthy state of affairs. and
we arc surely travelling the circle that leads
to periodical panics. Business readjusts
itself about every seven years. Three causes
combined to give us an era OF prosperity,
such as the world never saw: First, for
five years the crops of Europe have filled.
Second, these five years We produced the
largest crops ever grown i'll America.
Third, while We got top prices for our grain,
we were just emerging from the panic OF
1873, and labor was low and materials
cheap This enabled farmers to make
enormous profits. They spent their money
in improvements, put it in railroads, etc,
which gave y tremendous impetus to every
| branch of business But the toilers, who
are the last to derive n benefit in returning
prosperity, are now claiming share of the
profits and even if we have a large crop
next year We Cansot find market for it,
and if the grain stops moving our railroads
will become embarrassed and trade will be
at a stsnd-still. -[Cor. Cincinnati Enquirer.