, 1875-12-29

OR0AJ RAON0IAlnS AZ Iuo- 4SI0u0
10 favour of Central Factories. But, HiS
Exce!lency says, the sympathy of the
Island should be evinoed by contributions to-
Wares the object; suoh contributions are not
forthcoming, there is one GLASS of proprietors.
whose assistance We originally oouRted on, who
have kept aloof the absentess are not willing
TO partaks. But that GLASS Of proprietors are
tar away, and they must of course experience
dlhoulty in understanding a scheme so foreign
TO them They may even have difficulty to
form an idea of the state of the Island from the
reports aud correspondence of their attorneys.
His Excellency himself must have experienced
now lmpertectly a really just appreciation Of
any state of things can be. formed when con.
veyed in written reports, compared with ones
own personal experience. 1t was to be fore
seen that their. the absentees', want of support
would cause some trouble. But also within
the island there are planters, who have kept
alOof. especially by not signing for entering the
Credit Association. Let US not be- too hasty
in drawing our conclusions from this fact. He
would, of course, abstain from giving any
particular instances, but he did believe that
many men who would have signed for the
Credit Association, and even many again who
did actually sign for 1t, have now come into
such circumstances that they cannot now enter
or continue in the Association. Those men
10y Az A IAN P0OAAO AOOOlQo 0ppO0L ~ avg
come into worse circumstances their Estates
May not have incurred greater mortgage-debts;
but as the properties have not for the last years
yielded the means to cover their expenses, the
owners have had to borrow money and have
thus become indebted. They hzve used the
credit their unencumbered properties gave
them for other purposes and can therefore not
mortgage their properties to the Credit Asso-
citation, as of course their personal creditors
would object to it. 1t is of no use to seek to
hide this fact. ANY hesitation to join the
Credit Association must be asoribed to one Of
two causes ,-either that the parties will not
or that they cannot. The latter is the case
but this being 80, it can never be considered
as a want of sympathy for the matter. In
almost all cases that circumstance forms the
drawback scarcely any one has at present
free hands over his properties, even if they
have not been mortgaged to greater extent
than previously. The only way in which
their entering a Credit Association might be
doue would be through other tions
with the private creditors but these viii be
difficult to perform. This is the point that
he would specially dwell ON. 10 order that the
Home Government and the other parties at
home should not get the impression that the
Island is not willing to contribute to Central
Factories the fact is, the Island cannot. His
ExoeIlenoy assured US that he would still
continue to use his endeavours towards the
desired object; we sincerely hope he will
succeed III convincing all parties at home.
that when the Island does not Join, it ia
because it is impossible. The circumstance
Of the idea of q Credit Association being
overthrow is a sad fact, as it shows the
insolvency of the Island but on the other
hand the announcement of that overthrow
will have llghtened many hearts. Many parties
who were wishful to join the Central Factory
scheme have been deferred, because it vas con-
nected with the plan of a Credit Associations
which is q thing impossible to carry out aS
present. However sad it is to learn Of ths
Credit Association being abandoned, It will
have removed q burthen from many, and
many who could not before support The Cen.
trail Factory project, Or who have only given
a lukewazm support, vii. now Join heartily and
earnestly 1t was, moreover, q damper on
many, especially those with small capitals, 10
know that ther support was Of no use an.
less We succeeded in raising the total sum Of
B375,00o; and those having anything to in.
vest will join so much the reader when ie il
known that the object 10 only to raise as much
as possible, in order to promote the matter and
to give the colony the full benefits of the Cen.
trail Factory. He for his part takes il, then,
as a good piece of news that the Credit Asso--
citation plan, has at present been overthrow.
q thing he, at least, for some time had az O
necessity foreseen.-But there were q few
words be had to add on some other points,
The position of the Island at present is suoh