The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1885-08-14
THE UNEQUAL DISTRIBUTION
OF MONEY.

ICY The HERALD cannot accord with
The money policy of tho United States
Is perhaps superior to that of any
other nation on earth. In late years
the salient features of that policy
have met with hearty support from
tho Democracy, and however mucl
differences may have existed in the
past, the two great parties are now
practically one in financial meas ures
and THE HERALD believes that the
best plan has bsen and Ia being pur-
sued. Tho resumption of specie pay
ments and the national banking sys.
tenn are established facts, work well,
and there is no occasion at this Late
day to attack them,
But "FAIR PLAY" is correct and
timely in his remarks on the inequality
Of the distribution Of money and CAPT.
tai. In the city of New York is sur
plus Of over $60,OO00O0 while in the
East tho idle capital will probably
roach an aggregate Of hundreds OF
millions. In tho South and West, on
the other hand, there Is scarcity,
although interest Is high and the
chances for investment splendid.
The piling up of this vast sum Is
easily explained. The East is a manu-
featuring section, whilo the South and
West are agricultural or pastoral. All
tho legislation of the Republicans for
the past quarter Of century has been
in tho direct interest of the manufac-
turer. He has grown rlchor day by
day, whilo the AGRICULTURAL has had
strain to.koep his own. Legislation Of
a partial and sectional character has
piled up these vast surpluses in the
East.
The "Greenback" doctrine of our
corresp ondent that tho deb should be
paid moro rapidly than Is being done,
OF course we cannot subscribe TO. lie
imaglnes that all tho money in the
treasury could DO used ia tho immeli-
alto liquidation of that $3OO,OOO,OOO of tho
debt. This IL simply not fact. In
the first place, according to MIR. MAN
NINd's statement, only about $50 OO0,-
COO this year could DO mado available
for tho payment OF debt, whllo IL will
take regular discharges until 1893 be-
fore this sum spoken of could be paid
according to tho terms Of the debt,
they being the per cents. But the
present generation, in common
justice, and aside from fnar-
cial ana loyal obstacles, of
course ought not to assume or pay all
this debt. 1t is useless to pursue this
portion of tho argument further.
4 moro important question to us is
the cause OF the boarding of all this
money in the East. For years past tho
East hns prOlesSod TO think, and |
doubtless has honestly feared, that
money was insecure when invested In
the South and West. The ugly stories,
tabrioations and ISLANDERS that the
Eastern press has been doluged with
rs to crime and lawlessnens in othor
parts of tho country has made capital
up thoro ioolishly cautious and con-
soryative. They have preferred to |
lock their money up in Eastern vaults
to placing it in solid Southern and |
Western Investments. As q conse-
quonce tho little money that has como
South has continued 20 Islander the
section by demanding from TO Is per
cont, on tho ground Of "risks," in ad.
dition to living business interest.
Those who find IL to their interest here
to deal In money or engage IN ontor-
prise, not desiring competition, give
confederation to the absurd stories
alloat of the insecurity of money here,
and assist in playing upon Eastern
fears and credulity.
In common with others THE HER.
AID ls attempting to combat these un-
Just and unkind ISLANDERS upon the
South aud show to the North, to those
men who are boarding their millions,
that property, life and Investment are
as safe in the South, and notably
Texas, rs in New England. Whom
those efforts are successful, when East
ern capitalists once learn that they
can bring their millions to us and 70.
coive In perfect safety far better re
turns than thoy can get East then will
this inequality OF tho distribution of
money disappear and times become
easier and brighter all through this
section,
Those who stand in the way of such
q desirable contamination are selfish
enemies OF the State, while those are
benefactors who succeed or asslst in
bringing IL about. But once convince
the East that capital Ia as safe in
Texas as 1t IL in New York, and as wo
all know who dwell here, and money
will become both doubly plentiful and
cheap with us. And these facts the
North will ere long 500 and thon won
der at their own past ignorance.