The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1885-08-27

lsfrf1 htuLlnn ftMlllitH, he flsHnflH
~ tho Wnsp0fity ~ the business inter
osis nfthe 41uth. Nov " the time n
make rfIai nilurt in secure thi4 muCl
needed n lp o. Southern business"
Thls snu. ~ obttlu money IL NOT
selfish one NOR upH designed ~ iniur
any llUool business, but iof tho difeo
gOlu ~ the entire State and South. AZ
DANA itiH OF tho greatest concern
Ruf Tue HERALD h0rnin know
noluing above tho interest aud Woliar
of this city. IL IL but natural tina
those hRying money should seek a
large an interest as possible, bu, 10 !
equally as natural that tho o6mmunlt,
should desire moro money more oasil.
and chosply obtained, Tho uankin
Institutions answer that tho none.
cannot ba obtained ia tho East, tha
II In dlfilrult % draw cspital South
and that S. security Is tlo uncertain
aud rishy. A sufficient answer 10 thl
latter proposition would DO To Inquire
why, thor, OT how, then, do b.nks
backed by Eastern ospitll, llourIsl
her. AZ all and I'LL mp suplus.., ~
their published statements show l
tho field Is n safe and profitable on
for those now bore, why not equal,
safe and attractive for otheys'
In latO number OF the Philadelphia
Press, reproduced in the 81. Loui
Globe Democrat, appears Il most OK
celleut letter, under Dallas date, n
which tho sophistries OF those opposing
moro banking capital Tor Texas M,
strlklngiY answered and rofuted. Yha
portion Of the correspondence NOR
directly pertinent and placing th,
whole matter IN q nutshell Is ~ fol-
lowe:
"Ailuoy IL the great need and usury
The great curse of Texas. 1t need,
money TO move its crops, release tut
fnruler's nose from the grinding-stont
OF umry, diversity its Industrial pur-
suits, in iSc., to emancipatO it's people
from u banking imUerialism that
presses upon the heart OF tho state
like q load of lead. That imperialism
ness OF Texas is Oyerdone, Insecure,
and proiitless, and uses tue homestead
advantages as q scarecrOw to deter an
investment calculated 10 lower inter
est rates. Only two months ago the
Standard OIL company opened CORE
splnGauae with bank in tuis city
lJuking tO the pr6cticShililv OF loan
ing $4,000 900 in North Texas. The
bank manager assured the company
that the banking capital OF the dis
trict was fully equal To the
conditions thia system would
make human industry the nat
ural enemy of the producer, but the
natural agents OF production ana tho
diversity Of products enable tho 9gri-
culturist TO keep his head fairly above
water, though with many planters life
- constant struggle for existence.
The lack OF credit, however, Is
in theory rather than in experience,
az the products Of the soil have proved
safe security for meeting loans o.
aaormou5interest; bnt IL Is proving an
impossible barrier 10 the rapid OOvsl-
opment of tho States resources. There
has beeL very little Northern capital
placed in Texas outside of investments
in railroads, land end stock, and tho
banking capital of the State may be
said TO CONSIST OF the profits OF home
speculation. This is State merely in
its formative stage, Undergoing an
enormous outlay on improvement and
agricultural machinery, is entirely too
limited to meet existing wants, and
has resulted in forcing interest up
ward"
Which is this banking firm thus
turning capital from our doors for fear
OF o competition that would give
money in abundance TO the people in
this hour of their need,0 living rates?
Here we're 100000 seeking invest
ment, anxious to come South, to be
had at living rates, ready to supply a
keenly felt want, yet turned away by
those seeking to perpetuatea monop-
oily that is c;amping enterprise, 10.
tarding growth, preventing develop
mont and bleeding the producer of 20
nor cent. of tho value of bis products.
Ii is a shame and an imposition that
the agricultural and mercantile Glasses
ought not longer sub nit TO. THE
HERALD knows no one class or inter
est in this matter. IL is q matter oil
vital Significance to the community at
large and until the community
arouses itself, corrects false impress
sions and infor nation in the East and
brings cheaper money here it
will stand directly in the
pathway of its own best interests.
This query from the Standard Oil COM
pauy Enthusiastically indicates the de-
sire of more capital TO come amongst
ue, if it be nut informed correctly of
the urgent demand and the attractive
ness and promise to capital in The
OF affairs here.
No Investments nor enterprises now
here need suffer. Tho field In an opsn
and or ;ensive one and the fact indis-
putable that the money now here Is
wholly insufficient to meet the actual
wants OF trade. Not only is more
needed to insure cheap rates OF
interest, but actually required to
our tremendous crops and
rapidly multiplying business, and the
facts cited and quotations made, to
say nothing of the present observation
and knowledge OF every Intelligent.
man in the community, amply demon
strate the truth OF these propositions.
--S-$----
It~t cNf-I sMN ANr THE CNylrL