The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1871-12-11

ing is that the load OF debt and the con
sequent burden Of taxation may become
so oppressive that business cannot be
probably carried on here, and that as
result not only will no more capital be in
vested here, but that which can will
withdraw and seek employment where
it can operate without paying SO large a
per cent of the profits Of business in
taxes.
Having now as he claims sufficient
means Of transportation to accommodate
all present business, he thinks it is the
true policy Of the people of this city to
devote their surplus means to developing
more manufactures and not to building
new lines OF transportation for which the
city has no real need till we have more
lreights Tor them TO carry. lie thinks the
real prosperity Of the city must depend
on her manufactures and that We ought
to use all surplus capital for increasing
our production, confident that additional
transportation will be furnished by those
in that line Of business whenever our
Ireights are SO large as TO create any real
necessity forit
lie does not believe numerous railroads
are essential TO q manufacturing city as
they are to q commercial city. The latter
depending Tor its business on distributing
the production Of others, must have rail.
roads in all directions. The former needs
only enough To send It's productions to
market and TO bring in the raw material.
But what the latter must have, Is the
ability TO manufacture cheaply' 80 as to
compete successfully in the market with
all rivals. To this end it must not be
loaded down with taxation to such an OK.
tent as to impair seriously the profits OF
the business which at many times are re-
duced to q narrow margin.
Our friend holds, therefore, that tho FL.
ture prosperity Of Wheeling depends on
the continued investments here in manu-
iactures Oi the capital Of our own citizens,
and in attracting as much additional CAPT
tai rs we can from abroad Tor like invest
men.. To encourage such investment lie
says We must make Wheeling cheap
place in which TO live and to carry On
business. Reduce taxation to the loves
possible figure, and with our natural al.
vantages there will be ample inducement
for investing capital here in every kind Of
manufacture. Then, when in lew years
by this process our productions and dc.
mand for raw materials shall have so IN.
creased as TO create real necessity for
additional lines of transportation, 1t will
pay to build them and the railroad people
being always the first to see where there
is real field for new lines will not be
slow TO supply them.
But he thinks that II, on the other
hand, the city exhausts itself in an effort
To bring new railroads here that are not
really needed, VIC will lack the money to
make business for them, the cost Of living
and carrying on business here will be
heavily increased for another decade, new
capital will be deferred from investment,
and invested capital finding business no
longer profitable by reason Of excessive
taxes will be Withdrawn, and VIC will
hive plenty of railroads with but little
use for them. And II a financial strin.
gency should overtake the country, the
burdens Of tho city would he thereby In.
creased so much as TO operate most dis
astrously.
Our friends advice is, therefore, to
make no new debt for railroads at pres.
ent; to go on reducing the existing debt
till II Is extinguished then TO reduce
local taxes to the lowest point, and leave
business as free as possible from local bur.
dens to work out It's own future. And II
may add something 10 the value of this
advice to say that the gentleman whose
views We have thus endeavored to set
forth Is one Of the leading and most sue
rpanI1l mann TNriurpPu nr Tho p;t,,