The Fairfield herald. [volume] (Winnsboro, S.C.) 1849-1876, 1868-07-01
TCoDIMUNtcArED.1

coMMUN1cATED.
Proposal to the Citizens Of Fairfield Dis
triot of an Immigration, Manufao turing
and Banking Company.
Mr. Editor
Intense desire to contribute towards
restoring prosperity 10 my fellow citizens
induces me to offer few suggestions on
the above subject, which I will bo pre-.
pared to advocate more at large hereafter
at the meeting to be held in Winnsboro
on the I'd Monday Of this month, and
in other sections Of tho District, if the
plan | shall propose elici.s sufficient in.
terest and support to justify my doing
10 sum up this whole subject of i'm
migration in brief we will obtain immi-
grants when we shall have obtained
heady Money to pay their passage to
Fairfield, and to start them in their oc-
equations successfully. All schemes not
involving this feature, will not only be
slow to get into operation, but will
probably fail completely in tho end.
Let us, then, form Company, char.
tered for the term Of ten years. under
the direction Of competen: directors,
chosen by stockholders and with one or
more officers paid for attending to tho
interests of the Company. Let sub
scriptions to it's stock be solicited and
obtained, the money obtained to be ap-
piled by loans on good security and
bearing interest, to encouraging all ef
forts to induce immigratlon, and to mul.
tiply such industrial pursuits in Fairfield
District, as may meet the mature appro.
baton of the Board of Directors.
The features Of Building and Loan
Association, and also of a Saving Bank
(but not Of Bank OF Discount or Elk.
change) could very judiciously and
effectively be combined with the opera.
tions Of this Company.
Since the existence oe the Company,
as beng an experiment, should be limit.
ed to term of ten years, the assets will
at the expiration of that term, be distrib-
uted amongst the stockholders, in pro-
portion to their stock, whether contrib.
uted in cash, which is the great need of
the company, in order to enable it to
work at once or in good titles to land,
to be disposed Of by the Directors, to
Immigrants or others.
Such a company might lose small
amounts by injudicious loans to par.
ties unable to comply with their con.
tracts, but the interest on such loans
rs proved good would overbalance all
losses and render its stock a worry safe
and desirable Investment
BESIDES, the immigrant himself
will, pay back, through his employer
and security, his passage money and
interest. thereon, in the form of his
first and second years labor.
Fellow-citizens, We are all poor.
We can give very little towards any
public object. The plan I propose
simply asks of you to lend, and with a
prospect of getting back in ten years,
both thelprincipal and interest of what
you contribute.
If four hundred of the citizeus of
the District would pledge twenty dol
lars cash on the first Of next Doc ember
(many could pledge more) towards tho
promotion of Fairfield Immigra.
tion Manufacturing and Banking Com
pany, and promise to repeat the con-
tribution, if alive, for five successive
years, the eight thousand dollars per
annum of ready money thus obtained,
well-handled, would bring over and
settle two hundred immigrants the
first year, moro than double that mum.
Der the second, and so on for tho
third, and by the time the charter of
the company expired, the immigrants
themselves will have paid for their
introduction, you will have cast your
bread upon the waters, and it will
have returned to you again
Vory respectfully your fellow-citi-
zen, BENZ. r.. STUART,
commuNIcArED.]
Mr.. Editor