, 1874-06-24

81 iG6u tldG Cnere would DC required Que
and a half millions for the object, but he
had not expressly said whether that
amount was for one or more Factories !;
and on this point he would ask for some
further explanation although he was
pretty sure that the amount was in
tended for more than one Factory
His ExcelIency also stated that with pay
ments of 5 P. CT. yearly, the whole loan
would be paid off in 30 years but it had
appeared to him (Melchior) that the
amount could be paid off in 16 or II
years he had however not made any exact
calculation, and he had perhaps gone out
from 1 pct. instalment, instead of3;-when
the Governor further stated that it would
be the business of the planter himself
to sell the bonds, he gets from the Credit
Association, he would observe that
generally a Committee regu. ates the sale
Of the bonds, as otherwise the price of
the bonds may be run down the planter
who got shares for his Credit Association
bonds, would of course be at liberty to
sell them. In conclusion, he would only
say he hoped the plan would succeed,
although he was not blind to the Difficult
ties it will meet, the Money Market being
at present anything but satisfactory; if it
succeeded, it would be only owing to the
influence of men in Copenhagen, who have
the interests of the Island warmly at heart
but before something is done here, no.
thing will be done elsewhere.
M. T. FureUy was quite convinced of
Central Factories being beneficial to the ISL
and he had only meant to point out, that in
Martinique the business did not pay at first,
but there the Company could ride it out, and
it was a rich Company. st. Croix is q poor
Island, and if it should not pay, we would be
ruined.
M. Melcbior hoped there should be no such
danger; W. all know that experience is expen-
siVe, but he hoped we would use the expert
ence gained in Martinique and thus avoid the
losses experienced there.
The Goucraor, in reply to what Mr.. FarrelIy
had stated, said, the difficulty in making such Es-
adjustments pay at once may chiefly be as
oribed to an insufficient supply of canes. The
course we will take is, however, different from
that followed in Martinique at first; there the
Factory was erected by one man, and he had
difficulty in obtaining canes from the planters
to work with, and it is obvious that if q Facto-
ry suited to make for instance 1000 hOgsheads
sugar, gets canes for but one fourth that guam
tlty, IT must be q bad business but that danger
we will not be mourning here, as all the plant
ers concur in the wish to deliver canes and
have agreed that Central Factories must be es-
tabIished here. He had not only the hope but
to a certain extent the certainty that planters
here will all be ready and willing to bring their
canes to the Factory, and moreover the expe-
rience gained in other respects as to the work.
ing of Factories in Martinique and elsewhere
will be taken into account toby Mr.. Mel
chior's observations he, the Governor, had
been reminded that from another view,
by Central Factories the interests of the
planters will not be divided, but on the
contrary consolidated into one purpose. No
doubt most will be ready to admit that it
is a great fault when the planter Is at once
agricuIturist, manufacturer and merchant; and
that it would in all respects be better for the
planter to let the manufacture business and
the merchant-business alone, and instead Of
that to confne all his energies to agriculture.
And here he would beg leave to observe, that
although the fields look now so nicely and
promising, still he believed, and he did not
doubt that it was generally shared by others,
that much still remains to be done in that res
pect; and when more has not hitherto been
done, the cause has chiefly been the want of
uooono Nv M,Iobior bo6 furthor o1l,Jo5 b. H.