Show HOME AND F H 11 VESTMENTS the article tv Is nearly all al right except tile the supposition that by what we said last sunday we intended to discourage obtaining money from abroad we said the present interest was a heavy drain upon tile the people it amounts to a million dollars annually anil and goes away and for or the last two 0 or three years because of 0 the lon of our so called states statesmen meno it has boon been very hard to meet the obligations and that naturally because the chief industries of utah have been sadly erl crippled 1 pled we did express a regret that the money made here had not been invested invented here and that was natural because I 1 in n I 1 the he past utah has not been like any eastern community the mines that have paid have paid immensely but the profits from the nil alnea lea as a rule 11 have t ale not been invested here the tribune for years h has is advocated getting ss much foreign capital as possible possie tor for certain enterprises enterprise a it showed live are r six years ago by figures which it they were riot not correct certainly have never been refuted that it if the city would make a grand struggle raise and with it begin tile the bunding building of a road west it could with that much expended mortgage the road as far as fini 8 hod tor for enough to continue on to deep creel cree k that then the profits 9 0 of the road would pay bac back the investment in two or three years yeara al ali i ways pay a generous interest on oil the money and would moreover double the value of the realty of this city further we have tried to show that the same exertion to build an independent road to some of the coal mines not far away would save sav the people deop e 0 of athe the city every year almost or quite the cost of the road in cheapened coal and would supply new inducements for manufacturers to plants plant s here the same idea has been ex tended extended through very many other enterprises we fully appreciate ate that business bushie 39 cannot be carried on without money and that it men must have money they are bound to get it it if they can from foreign if not from local capitalists the bur aen comes with the crushing out of the means to make money which this gov his has indulged itself in ot of late and it bas nas put producers in such a situation tia tion producers and traders that during the last five years at least the tendency has been for all the spare money of the country to gravitate to the great money centers a st the east and every ellort effort of the west to ci iange this state of affairs aal airs has been met it by 3 these same gentlemen who loan money to the west with the assurance given with much apparent indignation and sorrow af thi ha va no higher niomia ahab i Y lj mt et ar ein lit rooney and cheat the owners of it out of a large proportion of the money they have borrowed the article was not intended to discourage the ob obtaining maln ot of money from abroad but it was written in a spirit of regret hegvet that such a thing was necessary the catlon aln is interesting and as follows follo vm editor tribune under the caption home investments and home work the sunday tribune has bas an article which it appears to rae me Is calculated calculate to create a wrong impression as to the effect of foreign investments in ili the business economy of the territory perhaps you will permit me space to disagree with the pinions opinions of and with the editorial conclusions while or ranting that it would be fortunate no to lor for salt lake city it if all capital that can e an be here to advantage was waa wiled owned at home it does docs not necessarily follow that because it Is not it is in preferable to use me none from abroad capital capita must be earned before it can be lo loaned olied and this community Is not yet old enough to have large surplus accumulations it Is pretty certain it all foreign capital should be withdrawn from this territory that Is now being belner employed here there would be a collapse which would not be agreeable to contemplate for years after in chicago while the city was being rebuilt all aal 1 Us its citizens were borrowing by millions I 1 ns to c construct the fine buildings and improve streets etc it was a constant taunt of 0 the st louissan Loul Lou islan that chicago was being smothered by mortgages that boston and tile the east bust owner owned the city and that it could never meet the interest charpes charges it Is hardly necessary to say now no that the taunt was unhurt time has 1 proven roven the wisdom of the chicago people individually dually and collectively who alil not hesitate to go eo to the east and abroad where money was plenty and cheap arld and borrow such puch an amount as they could use profitably or u what hat was of far grea ter moment to obtain the additional amount which would make their own capital yield a better return the years lolled on chicago has paid the interest and the principal or of the loans long since and by reason of the prosperity which followed from their enterprise its people have accumulated wealth taster faster than in a any n y other city of if the continent money has haa become so HO plenty there that the he interest rate Is but little higher than in new cw york or boston chicago o money cannot now fina employment at home as a loans upon real property even at a 4 and a nil G per cent rate it goes without F gayln boyl ax that hat if chicago han bai waited to re rebuild build until its people coull hove have earned the money to do 0 it with she would riot not have been crowding new tn ark k to adny for tho the fart place among Amerl Arne rican cati cities no one need deny and no one can that tha t the people of utah have haic mart made a marvelous accumulation of wealth within less lea than halt half A century since lt its first settlement but I 1 shall that if 1 those who came at first t had bee been su supplied pred I 1 with capital to make their own labor labor the more effective the progress would have been even greater reater pr and the accumulations larger than thoy they ai c and further it if foreign capit capital al bad bon rel repelled WIled or excluded there would neither have been the resident population or capital here which WP we pee flee at present the money which thich has como come here through the building bull dinK of the h branse railways and for other public enterprises has baa not been nn an factor ili ht the growth of utah unless I 1 am very tar far wrong wrens it IF la my impre impression salon that the tribune has deprecated the recent misgovern misgovernment mant 0 of f colorado and jause Kauff fl because berau e it not only prevented new capital from to ing in but drove out millions at as it con robill lei be withdrawn ot of the previous loll anve it will hardly advocate a policy for utah which w aich hag ban vean go ao for the th neighbor states lot let us flee how t tile he taken will work out the editor says the resident resent here re tore t and PON taxes Su purpose rrose that ills income la Is 10 per cent ji Is it better for ahr coan it v that boniv this amount shall be invested invented than that ten times as much or of a duplication of off capital shall khall be from ati all outside source Is I 1 supposed to be a interest OH as between leailer and borrower the one seeks seek to derive from his accumulations the other has haa rom fogu definite object in view and tt it Is presumable that he be seea goes ill hla s own advent advant or ape in other capital than his own it may be tuot that he can afford to pay 12 per cent to the home hank bank or er capitalist and still be JU justified s titled in t the borrowing but if it be ho that he can borrow the th money from tome some one fine elwe else tor for it per IUT cont cent he certainly win will be tile the trainer falner by the OP rallon the home lender does doea not accept 6 per cent because ho he can find opportunities to use blip ala I 1 4 1 and d go 0 o long lone money at al the highee rat el inert it it Is 19 the tl an such auch rates can be Q al in t dobert doben avld ne ncr thele oll ia a a I mand to justify tile 1 yr ill will say but it if tap th money 7 S w york fork it ll iq from new r oeral ge just so much addid adil 1 t the roen it t of 0 home merit for the he do avi v roll of 0 new wealth the natura nil as well anil ot of old n gaall 1 13 only emare fully dove red TM that at biml g in n min ploy icy mont 0 ifor or the annn ev in nn be b already dual list 11 rieB ea which aich me lc there lye ere are more ohp overdone adon while in h lop ent jan lhnn reso ure es awaiting probably ever existed x in ne new are i excel a d doen 0 ae n to laii es plow more efrom zed fron tile th cm lional bronts to be ro I 1 and dohnt ehst Is i the of ceril tal r h ini and benlor len lor n to both bolh it bi I 1 C swo 1 or lajb itsjo we may suppose ill tl broad it it does doe not be borrowed fro ron oj home tile the of at n 1 I 1 prevent the cin ploy ind it Is i a direct funds on n the other domand ator for atle to tie tha mor ore left nt e avery e or r be I 1 il does how 0 deiy community inhere t it he J ule or it 1 als Is in n the h or en the establish establishment et ol of nw new of a P presen Ire senj indu try 7 rt it play the at easily happen too rhth is nt er c b fi 4 or 8 9 and T 1 1 1 h hi may the usual bank rate the prime question nae tiong 2 its pro able 11 in if he for or the b boi 1 wr ean can i 10 alfr per cent fi brorn orn borrow at 6 and rea its it ulc w then it Is ills to flable lej invest 13 12 and ment but if he be barr nt lit izes izee but 10 per cent it means dwor 11 1 whatever the tune and embarras sira t 0 amount 1 M 0 U 1 it does not a ape pe the payment 1 rr 1 f 1 n 1 here anlo t euire fraud tl R dean de even though lla its owner ta la non t it gives adili tiona I 1 emal arnt merit to laborers flue due cour course ne in 11 and n d mechanics and crossed patro nare to tn 1 tradesmen tra deimen th the community I 1 la q ive ivenelle nellt b by y its community ture lure whlor ili I 1 lo 10 there roa I 1 be additional advantage it f the I 1 0 owner nor 0 he capital entries comes here with wit it and d is e its his income here h re it does boea no not t follow I 1 thit lt la Is good business t th 1 0 of 0 his big capital tuie IN we I 1 c cannot brot hafl nee tallian taken it the P e illustration the ityl r the that all I 1 ic onro fiti taken from born the mines alnea of t the had been held and reinvested 1 I h e take the on ta tarlo mine ns al a fotr I 1 e instance the shrewdness ot of the I 1 lo 10 senator hearst led to the I 1 for himself and associates lates of I 1 li the he original purchase C b age 0 f the mine ill 1 3 1 olf if any ono one could have been aund in lt all h to have pur parched ched cd the irk anil it at that price pric c its downor are all nor non si dents or larr C ly so of 0 the iSS COCi 0 that hnz been taken flom the mine arlor 1 to 1890 only 1 were profit id it Is not certain t L in that nil all oc 0 that n withdrawn from t the h e territory the ier er Sla his has been paid out in uta altalo to the abety great 1 benefit of its people he first cost was 1 but a trifling part e 0 t li e ala the out blyar mill and r plan i p s c y if not quite milte 1 Is likely that home capital pital would have d eloped it in that way and to sue such ext t again abbin suppose that home ca capital I 1 tol I 1 0 old u id be charged chare eil with nil all the losses i wll well as credited with all the profits 0 since the industry began how 0 the acco account stand As to man manufacturing u fact arin it home lis many of the articles as er ci or into von ton by the people of tan tah there mere can oe be little question as to th wisdom ot of such puch 1 a I rolley put but will any ie a pretend to aay ay there Is spare capital ough in this ter citory to to build the ne nc story glary plants and maat my the outlay I 1 for such manuto tu or are the indents who have capital C willing to inai it in ili that way I 1 maintain that it alliot if of be practicable or possible to do cuch depending on oil local capi cap I 1 alone to its courage the Import of foreign cap capital from localities wh e it has been accumulated camu from the and better developed parts parta ot of the antry or of the world Is to retard or bolly prevent the establishment of 0 such dur tries the instance cited the gentleman who had some come sur ur cli ili noney he invested in III six elx or cbill ciar acres of c learly clearly suggests nus sug reits rests the th with which he worked by of having that money I 1 shall entend that it to not it good ft advice to gix gl indiscriminately that farmers shall ahall erp er e in fruit grow ing while climate sr si and market con tribute to malie make it on 01 of the most do horticultural u I 1 I 1 r I 1 t I 1 all the country it Is a ars brand co r Y which la Is only ta table ble 01 1 I 1 when 1 managed livered with I 1 rare int inta gence the s e w ces saul fruit he ro h loves a I 1 tree alio ha the p pecullar f c has alty to u understand il tit who itt the patience if to evil study its nature pa at and its hrab habits 1 t growth and to devote years vears to it be 0 he can call see the results result ot of ills i or I 1 S tor for the re return turn v 1 much ar a r adapted to wl lite river aver az sar 0 rh iad afi r let et the bus business tries 9 alone he can do I 1 hitter ter raisins raising hogs hoe grid and wheat I 1 with a brief kcf nee to farm arm loans I 1 will have done lany any columns have been written to dl di urage farmers froni from going in debt yett yet venture the asper tion that few w barp arni i 9 can be found who have rained gained eye even I 1 P lo io competency w who h 0 have ill not net bort boril or 0 o ed d money unless it be those thos e who who bs rl inherited capital to eta ecart t with or hn hai konc gone into farming e actu a ft an some other om cm T 10 lo there u re exceptional instances sta where a gift jeaa m made a do veritable slaves ot of himself lj family ill and in the course of a pay have accumulated a lew few thou u j 1 I dollars but they are comparatively I 1 we re the farmer who has a body of kanj languid lid has no money of ills his own to cut cult ivil A lit advantageously had bad better soil tl ti I land and it if he be has not sufficient Int ellige 1 to make a profitable use of money boy boin ivd til at a reasonable rate to make his s u I 1 bor effective it he has not the elie ability 11 i use such finch capital it is very safe to C I 1 ude that he will not be of I 1 I 1 r in accumulating money for mingo it r tn in managing it it it ever comes to i hand band accidentally the man who kis its without capital having no credit obtain it necessarily ifal falls le to 10 utilize e 1 own labor to good effect fr e t lie 1 Is a ai disadvantage with bevery every competitor 0 o lies hafi money at com imand mand C W G |