The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1885-07-29
MORE CAPITAL AND LOWER IN
TEREST.

TEREST.
The Financial Chronicle of the 25th
inst. reiterates the story of its several
preceding issues of an abundance of
idle capital in New York" 1t says:
Notwithstanding the increased trans
actions at the Stock Exchange and the
agreement by the banks to transfer
from ten to twenty millions OF gold
to the United States Treasury, the
money market shows no material
change during the week. That this
abundance Of idle capital remains, is
clearly seen in the increasing surplus
reserve, last SATURDAYS bank state
ment reaching S61,575,475, with depos-
its over 100000 and loans over $780,,
600 more than on the pre-
vious Saturday" This is most
interesting Information to our
Southern people, to our Texas citizens
and to Dallasites. Another equally
interesting point is: "Bankers' bal
ancss have been in little better no.
quest, and ~ per cent. has been OBJ
tanned without difficulty. On Thurs.
day en- unusual inquiry carried the
rate up to per cent, although il nj
most Immediately fell back to the old
figure" Arc our bankers and money
lenders aware Of'these data? We IA
sumo, as u matter, Of course, they are,
but do our merchants, farmers and
others who are paying tho home bank
ing houses 10 and IL and even 10 per
cent. per annum, know of and under
stand them? If money is being loaned
at only 3 per cent. in New York
and throughout the Eastern States, as
is indeed the case, and if our. home
banking institutions really have the
welfare and convenience Of these citi-
Gems at all in consideration, then why
are not efforts made and arrangements
effected to secure low interest for their
patrons? If money is thus seeking
Investment throughout the North at
such rates surely it can be placed here
at little advance, or say per cent.
And surely our banking institutions
have credit, or property, or both, in
adequacy to obtain loans at this latter
figure. If they have, why Go
they not make the borrow
there, and loan hore at less
than the present exorbitant charges
Cheap money means many things to
tho middle and poor classes. Itmeans
cheaper house rent, cheaper articles OF
wear, and food, and other neceHsities
and comforts.
We need very much more capital
here, for example, for tho improve.
ment of Dallas and the advancement
Of her numerous and varied industries
in the mercantile, manufacturing,
building and other lines. One OF
the sorest troubles with uniortu-
nate Galveston to-day is attribute
bic TO the fact that some
half dozen or q dozen firms there are
permitted to do, to hold in their grasp,
nearly ell the business of tho place. A
half dozen banks combining cen agree
TO extend discounts TO only certain
firms represented personally or
through friends in tho several dlIecto.
ries of tho respective institutions, and
thus enable them to transact their ef.
fairs with greater liborality as to time
sale9, eLc., than can those who are not
30 fortunately ciroumstaucod. Con
contration OF capital, like oonsollda-
ton oirailrosds, etc, is Gu owl, 10 Tho
prejudice Of tho many against the la,
yored fow.
Another ugly phase is found In The
fact that not only do such few obtain
extraordinary advantages, just as in
inequality OF freight rates for localI-
ties, but they can deter even their pat
rons from enlisting in any enterprise
OF improvement that they may happen
to bo adverse to, such ~ building M
competitive business, improving Q
certain section of tho city, and the
like, Money at per cent. in tho East
within As hours run of this city, and al
II per cent. here, is u reelection OF
somebody. If our banks nave quite
enough money and are content witt
what they have nj tho rates they
charge and get, then let money agen
cles be established in on,
midst. There arc two o
these here at present repro
senting foreign capitalists to the bene
~ and in tho real interest of thos,
people; lot the number DO multiplied
Let 1t DO prominently proclaimed
throughout the North and in Europu
that the very safest Of Investment
can be had In Texas at S per cent, an,
even 10 per cent. per annum, on trus
deeds on improving property in an i'm
proving country. More capital her
and an equitable distribution of II OF
proper securities will BIO a healthfu
thing, of a truth, for this city in psrtiC
ular and the State in general. lie
capitalists como and see for them
selves. THn HERALD will from tim
to time keep our people aud others ad
vised on the situation.
S-N-
lOI THE POOR INDIAN