The Union and journal. [volume] (Biddeford, Me.) 1858-1882, 1868-01-24
saCO LOCALS.
Lack Of Esserprtse ts Ssco.

MEssRs. EpIroRs: The expression which
place st the head Of this Communication has
been 30 Omen used without being disputed,
that Il alrost appears presamptuoss 30 deny 70
and equally % to attempt to remedy itthrocgh
any saggrstious Of mine. Dot however that
may be, I take the liberty Of presenting my
views ~ to some Of the causes Of our insctivity.
In order that the business Of our city should
prosper We must rely almost wholly upon our
manufactures. The reason for this Is obvious.
Our natural situation 10 such that No can never
be- commercial port.
To build up manufactures OF various kinds
two things arc necessary via: brains and
money Drains ne already have to . greater
or less degree and what 20 lack the prOfer Of
capital here will import from other places.
Money 10 what 10 wanted. There ARE hun.
dresis Of manufacturers of excellent business
capacity who might b induced To locate here
and furnish employment TO large number OF
men, could they have such encouragement
offered them as Is offered by more enterprisng
places. Many VI them would have perhaps
funds TO carry on their business but lack means
TO build their factories should the monied
men anil monied Institutions not aid them In
% doing provided they Offer such rate Of in
terest and such security - Is reasonablef Our
monied men are to greater or lees degrec real
estate owners and - such are especially inter
ested In this matter. Why is Il that real estate
to-day In this city Is no higher than Il was
twenty years agof Simply because the de-
msnd has never exceeded the supply. II the
owners of such property wish To enhance It's
value By creating On increased demand, they
can easily do % by encouraging With their
means the establishment here Of additional
manu- facturing.
Have they done &C, know Of but one case
and Il being Of % rare occurrence Il Is worth
mentioning.
One VI our old citizens has set an example In
this direction which trust will be the means
Of awakening others TO Q sense OF the benefit
they might be 10 themselves and the city. lie
has by the purchase Of building for factory
and the tender % capital induced two young.
enterprising men to leave New Hampshire and
locate their business Of shoe manufacturing In
Saco. IL IL contemplated Ia do an extensive
business and viii furnish employment to large
We shall soon see the city thrive Is never be-
fore.
What do our Banking Institutions do to en-
courage manufacturing here! Oar banks Of
discount have by the National Banking Get
been deprived Of the power To loan - largely
90 our oitiseas - they did while doing business
under State laws, and necessarily business 10
cramped In proportion TO that reduction but
~ far ~ possible under the act referred to they
nv ssneryusV sNs" P's's'sn'' w oa' wv"
o'' ne. M w. 'ne,r E .aans
, I've s' " ~ ~ ~" =. ss...
times the amount TO loan that either Of our
osn n s, ~ sscSnt nasS anisr W tue '~oo
s"c Ss'ass '" ~, W ~"
"N uS tneS you ,, s% W .'e "uns
eses'sM $500 lvM wu yoaEIaey rce,,e
'ne deposus OF our own e'u,ens' mus iesaln,nS
. large amount Of the boating capital. which
~ sss ~ uee.ened soeia % on ne mem nasHss w
'oss aA ~ some cuisines 70 oalid up our
cyIsst tAs 70 al very veil, PROVIDED that
thm l.rse s.s.at thus concentrated could Be
'ossea 70 ga % some enterprise here.
nW ~ ,seosdf an rsiisnly inIormsd tnat
not Mrss psr cent Of sooe $soo. 200 deposited
IN tse ts~nsssse 70 loaned To our ettsens, and
moreover. MsH Y the policy OF the present.
msnssecsnt ~ 20 increase. but rather TO ii-
miaee ue sSSensaas amount and Tor
thess rsassos - tAess oaly, - TAR - can
learn: