Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1872-01-30
Manufacturer for Memphis.


To the Editor Of the Public Ledger:
Men who are not capitalists will read
the papers, and will form conclusions,
even on subjects in which they have, ap-
parently, little or no interest. Let this
be my apology.
Did it ever occur to you, reader, when
perusing some long article in favor of a
particular enterprise, calling for invest
ment of capital, that such articles are
usually insincere If such enterprises
were really desirable and profitable,
would they who discover the facts be
anxious to communicate them to the
public7 Would they not be more likely
to withhold the knowledge and use it for
their own benefit? Good wine needs
no bush,3 nor does an opportunity for q
profitable investment long escape obser-
vation. A thousand eyes are scanning
the march of improvement and watch
ing the busy current Of agriculture,
commerce and manufactures, in every
city and hamlet of the land; and he who
sees favorable opportunity for an in-
vestment Immediately endeavors to turn
his knowledge TO his own advantage, lest
some one equally discerning and more
energetic should forestall him in the en-
torprise. The knowledge by which man
may be benefited heScon6nes within his
own breast. If he makes anything con-
nected with it public, tits most likely q
foil to deceive others and cover his de-
signs. A man engaged in the effort to
obtain competency or a fortune, may
besaid to carry on,a campaign against
the fortunes of others, He does not
oyertly assail the projects or pursuits
Of others, save when directly opposed to
his own plans. These exceptional cases
may be called the pitched battlesp of
life. The principal part of the strife for
wealth or power is consumed in maneH-
yeriug for advantageous circumstances
Of position or strength, skirmishing
boldly in front of weak, defenses, march
ing and countermarching in the open
field, or lying in ambush in some well
contriyed cover, while the plans relied
upon for ultimate success are never dis
closed, unless by victory or defeat.
1t is as reasonable to believe that an
able general would communicate to his
adversary the strength Of his force and
the plan Of his campaign as to think
that a business man would publish to
the world his plans and purposes. There
fore, when | see men rushing into print
With long articles ,commending invest
ments in private enterprises, stocks or
securities, | need no Asmodeus to lift
the veil from their designs and show me
that they have each an ak to grind"
Take, for example, cotton factory
the peripatetic COTTON FACTORY IN
MEMPHIS. vi Does any capitalist want to
invest, say quarter of q million, in that
Or viii some benefcient
kindly give the land for
one2 Who could think of such sacri-
fee of capital, row actually making
from two to four per cent, monthly, in
moving the raw materially And that,
too, without eny risk. Other equally
feasible designs are yooleu factories,
wood and willow ware factories, tan
neries,, etc., all warranted (by their
paEegyrists) 10 bring people here to
trade. Vain hopel We cannot yet COM
pete with Northern manufacturers, They
can make everything cheaper and better |
than we could if we had the factories given |
to US free Of cost. Facts are stubborn
things, and the facts are all against
system Of home manufactures for Mem
phis We have little OF no skilled labor |
"a mere drop in the bucket. Our la
Dorers are ignorant negroes, and We pay |
hem a double price for halt service.
Our material and fuel, with the cost OF
abor and transportation added, are too
expensive. From the very money in
vested down to the most Insignificant
tenn of expense, we should most inglo-
-iously fail TO conpete with the cheap
capital aud cheaper labor nf our North
srn rivals .g- asIa-r.T ara ]
=" NJ sufor ultra crepidGm.
Let Memphis stick % her commerce.
dollar diverted from the channel Of 1
rade Is dollar squandertd. ga ll
Give "a more railroads, more Steam
,oats, more ieVee and more elevators.
/.