Brownlow's Knoxville Whig. [volume] (Knoxville, Tenn.) 1866-1869, 1868-03-04

influence which was her ultimate destiny.
The great wants of the State are capital
and educational facilities The Legislature
had inaugurated an educational policy,
which, as soon as its rich fruits could be
realized, would place the children OF this
State upon footing equally favorable as
that Of the children of any other State
Tennessee must become an educational
State-its foundations were those Of intelIi-
gence. In 1871, while the State was yet
territory, the Legislature of North Carolina
chartered Martin Academy, ct Salem, in
| Washington county-named in honor of
Gov. Martin, of North Caroiina-~and this
was the first educational institution In the
mississippi valley. The charter for this
institution was procured by DR.. Samuel
Doak, graduate Of Princeton College,
man of iron will, who was q leader IN his
day, and who would be leader now. Ira
dition has it that Dr. Doak called up his
Echool-boys and advised them TO go with
Sewer and Shelby 20 Kings Mountain
On the 9TH of September, 1749, while a
territory, the Legislature chartered Greene
vile College; and little later, while still a
territory, it chartered Blount College, at
Knoxville, and Washington College, within
twenty miles Of Greeneville. These were the
first institutions of the kind west of the AL
leghanies. Thus was the foundation of the
State laid upon the basis of learning
From these sources of learning flowed
the streams which afterward irri-
gated Middle and West Tennessee
brought in by the Dillahnntys the Caruth-
erses, and other honored names of these
districts Of the State. Thirteen members
Of Congress once sat side by side who were
all graduates Of GreeReville College; and
one period there were no less than twenty
eight Governors, Lieutenant Governors and
Congressman, in the several States, who
were graduates of the same institution.
Besides the facilities for general eduea-
ton in this State, we want labor The
State has done something toward encourag-
ing immigration The Commissioner of
Immigration has also done much for the
State in the same direction His Hand.
book Of Immigration is calculated to pro-
mote greatly the interests of the State by
inducing intelligent immigrants to settle
among us. Tennessee can sustain a popu-
latioD to the square mile double that Of
Massachusetts yet we have but eleven per-
sons to the square mile. If we would rise
to state of populousness and power which
our advantages place in our grasp we must
encourage immigration. We notonly need
more labor, more men, more muscle, but we
need more capital, more cities, larger towns.
We need these to furnish Us market We
want home market for the sale Of the
products of our industry-the productions
of our FARMS our mechanics and laborers Of
every description. We should have such
cities as st. Louis at Memphis and Nashville,
and at Knoxville we should have at least
such city as this. Then would we have
home market for all our home products,
and the growth and development of the
State would be rapidly fastened.
The mineral resources Of Tennessee are
equal, if not superior to those of any State
in the Union. Under the old policy of the
State we refused to avail ourselves of this
fact It may be mentioned as shameful
fact--it is q shame, but it is, nevertheless,
true-in Carter county, where they have
an abundance of the superior quality of
iron ore known as cranberry ore, It is
manufactured into iron, taken to Massa-
ehusetts, there made into horse- shoes, and
brought back and sold to the blacksmiths
Of the county. An uneecountable prejudice
formerly prevailed here against enterprise
in the development of our mineral wealth,
The venerable man, now present, who first
discovered and developed the untold rich
ness Of the Ducktown copper nlines---worth
millions unnumbered and inconeeivabIe-
was successful, and he is honored. If he
had failed Of success for want of energy or
enterprise or for any other cause he would
have been regarded as crazy man and
would have been ridiculed for his folly.
How are we to bring about develop
ment Of the sleeping resources of the State?
By encouraging the immigration Of labor,
by fostering enterprise, and by inviting
capital to take up its abode among u.s.
What prevents capital from flowing into
Tennessee2 Because it does not receive
welcome here which is extended to it else
where. Almost everywhere in the great
Northwest the capitalist can get for his
money almost double what he is allowed TO
demand in this State. Here six per cent.
per annum IS all he is allowed to receive.
Dsury is o spectre which starts up before
many persons, and they are frightened by
it. This is all prejudice There is no more
wiekedness in fair price for the use of
money than in demanding liberal price
for corn or any other commodity Money
is worth more in new countries than in old
ones. In new countries the fold of enter
prise is open, everything is to be built upaI
and money is in demand. In old countries
the ground is pretty well all occupied, and
there is not so great demand for capital in
new enterprises This State is old in his
tory, compared with some other States, but
her present condition is that Of infancy, and
she needs capital to support her infant eff
forts and enterprises
Last summer money was worth IN the
city of Memphis, on good paper, FIVE per
cent. per month. In KEexville to- day it is /
worth one and half per cent per month |
Where money Is plenty the price for its use |
is cheap where It is scarce the price for its |
use is high. Where there are FIVE to loan |
and one to borrow the price Of money viii |
20 down; but where there are five to Dor. |
row and one to loan the price Of money viii |
go up. Money cannot be loaned in this
State at six per cent. per annum-no bank |
or capitalist can afford to lend it at that |
rate. Banks manage to loan what they are /
willing to let out for one and half per cent /
per month. Farmers and individuals are /
not allowed to charge more than six per |
cent. win any money be brought into the
State to be loaned on such terms? VIII |
any money, brought into the State by the !
course of trade, 90 loaned to our citizens for |
the purpose of enterprise and the develop /
nent of the State? VIII not all the money |
In the State go into other States, where it
will command a better price? Will immi
grants who have money bring II into this
State where it is only worth six per cent.
per annum, when they can take it to Mis-
~