The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-01-12
THE CREDIT MOBILIER.
How To DEvELoPE AND BUILD UP
THE STATE.

HOW To DEvELoPE AND BUILD UP
THE STATE.
Proposed establishment 6f a Credit Mo
bilierlThe Work 1T Might Do-For-
nation Of Suburbs-Encouragem
of Enterprise.
The following proposition for tho establish
ment Of Carolina Credit Mobilier, upon the
plan of the gigantic corporation which has
had so many ups and downs in France, will
doubtless be read with interest. We do not
know that our boarded capital could be drawn
| Immediately into so novel o scheme but it is
certain that our money should not lie idle, and
that it cannot be used for better purpose
than that Of developing and improving tho
State. And whether the Credit Mobilior can
be formed or not, there is sense and torce in
the views of our correspondent with regard
to erecting cheap and comfortable houses for
our laboring population:
ToTHE EDITOR OF THE NEWS.
At different times you have tried to convince
the public of the advantages Of Charleston as
o business place, but our neighboling cities
make the same claim, and o superficial reader
at home, as well as abroad, is not satisfied with
mere assertions-he wants to see proofs. Can,
] then, Charleston stand on examination md
| Savannah, WilmiLoton, Norfolk, New Orleans,
| &c? IF not, then pvrsuast ns are OF no avail.
! Charleston and South Carolina at large hive
many natural advantages, which as yet are DOR
nant; but whep properly developed will make
her rise in more than her ancient strength. To
tva
and labor. We have invited both. The CAPT.
talIst says You do not offer me any greater
inducements than enjoy ut home. With you
cannot make any other investment but lend
| ing you money, the interest on which IS rea-
sonable enough; but can invest at home, in
stock of our many manufacturing companies,
| which pay me higher dividend. Tho laborer
saws: I tried to get employment with you. and
| in response had the reply that you were unable
| to give me work, as you had several OF your
friends at home yet out Of employment, and
that stranger at present stood h1r-'y any
| chance.
What shall we do under these circumstances?
Let us try and help ourselves. We want capl-
tai. Outside OF the bank it is presumed that
| Charleston alone has one million, and the State
at large at least another million OF dollars laying
| idle. It is either IN the shape of bank deposits
ur in small or large amounts at home. Divided
we fall. united VIC stand. Distributed as the
the money now is. it bears no interest and does
nobody any good; but united and properly ap-
piled, it could start many enterprises, bear
| high dividends and give many persons employ
ment. Let US take these two millions or dol
| lars and start with it good stock company
like the Credit Mobilier in Paris, and many
similar institutions in Germany. The capital
is divided into sm III shares, payable to bearer,
for the transaction OF general banking business
and with the object ofalding the progress efpuo-
| hc works, of promoting the Development OF home
| industry, and, perhaps, of consolidating into
| common stock tho shares and bonds OF trading
| companies. 1t is authorized TO subscribe for
and to acquire public securities, as well as
shares and bonds in industrial enterprises,
VIZ: railroads, canals, mines and either public
works; to issue its own bonds for al amount
caull to Its subscriptions and purchases. a;i-i
after the complete issue OF the orislnl c2,;al ii
So. .O00 OCO, to issue its bond- equal 20 ten times
| this amount, j. G. to 500 01O Oh. BIZ its Char
ter the company should have Unlimited power
| to engage III any enterprise, being onlY re-
str;cted net to sell in advance public securities
nor to buy them on time. This Credit Alnbilier
could then be considered the mother OF other
enterprises. 1t could spread its wings over
the whole State.
For Charleston. for instance, it would be very
| desirable 10 rebuild the burnt district and
other waste places within its limits; TO dram
aud embcllish the samo by parks, wide and
straight q ;enues planted with trees, &c. The
land tetween Shepherd.streeta and the city limits
Is being built up by degrees, but without sys-
| tenn. Let that portion be laid OF like the
upper part of New York. On the Cooper River,
towards Rikersville, cut off first park Of some
hundred or more acres, and the rest 10y oil In
| broad avenues aud wide sidewalks crossed by
streets, and at the boundary liucs cut canal
from rlves TO river. The avenues and streets
should be designated by ditchcs emptyIng
either in this ct.nal, or in both the rivers
inns would drain the land; tho earth would
put sidewalks in order, and the lots becom, !,
not only healthy, but would improve in APP
pcarance and indicate whero and how 10 make
| improvements. On the side of the canal op-
positc to tue boundary Of the city manufac-
| heavy burdens Of the city taxes must
avc.d its limit until more popular ordinances
| are framed 10 induce enterprises to enter
| its lines. The operatives OF such manufaci o.
RIGS could live in this new suburb. An acre OF
land costs there now ahoat S10O0-or say SlG00
An acre makes sixteen lots Ut twenty-five Dy
one hundred feel; q lot would consequently
not cost over sl06; build Oh each one and IL
half story wooden rough wcathcrboardcd
whitewa he'd house. fifteen by thirty feet, am!
fence. which would cost not over S25O-in al
$3.50. Rent it at twelve per cent, aud the re-
turn on the capital invested would be 81 3U per
month. Tue oAant would have four rooms;
and fowls. which would be worth to the occu-
pants at least as much as the rent amounted
to, and consequently lie wonld live on the
premises, so to speak, for nothing. Flo could
have the opportunity OF working in or outside
the city limits. By means.of the city railway.
which, no doubt, would extend its track as far
as the city boundary, he could as conveniently
work at the battery as he could ut Rikersville,
as season ticket would cost him not much
more than one-ffth OF What he now pays
iu rent for small cramped up, sickly tene-
ment.
a building company could procure a number
of such blocks and erect on them in lump
say fifty or one hundred such buildings at
time, purchase also lots in the now burnt dis
tricts, erect on them small but, perhaps, bet
ter class OF buildings. stores, &c, just as the
demunl should require it. The company could
erect machinery for making bricks, &c: To
make brick By machinery requires intelligent