, 1875-10-20

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so that it will easily and naturally pass
over to be a more and more local affair,
and thus the can grower, as shareholder,
be also secured more and more of the
profits of the enterprise, What he loses
in one way, he will make in another.
With the loan the matter becomes one
of general benefit and interest, and, as
such, merits the pecuniary assistance of
the public. The man with small means
profits as well as the one who is better
off, who, however, also gains by supporting
the whole matter with his credit.
Nothing than that is required of him,
when he Joins the Credit Association.
II, however, he does not join it, thereby
perhaps, rendering it impossible, the
depressed properties will soon 60 to ruin,
which, again, is the beginning of his w
ruin that will inevitably result from the
reduction Of properties in a briet space
of time.
With the loan it will, finally, be gained
that the State Treasury takes the Credit
Association bonds at par, in part payment
on It's bonds, according to the law draft
so often mentioned in our last. We have
already pointed out what great support
the Credit Association, as we'll as private
parties and the island in general, would
receive from this fact alone, which will
make that possible which is now impoSsi-
BILE, viz, to get mortgage loans on rea-
sonabIe terms, and thus, on the whole,
benefit the general credit of the island.
We have thus far glanced ut some of
the most conspicuous advantages of the
loan, the obtaining Of which is contingent
on the Draft of Law, which again depends
on the Credit Association.
Now, although we cannot say post i've
ly that without the loan there would be
no Factories, we can certainly maintain
that they would be confined t. a minimum,
not larger or more OK aIatge lba that she
foreign shareholder can be sure OF tho
greatest amount Of profit He cannot
be supposed to have the same n
terest in the island as the resident
or native. His relation to the island will,
as a rule, bethat Of the absentee. With
out the loan, the money would come ex-
cIusiyely from such. Neither the island
in general, nor the cane deliverer in parti-
cuIar, can be expected to obtain any in-
huen3e upon, or participation In, the pro-
fits of the establishment, even if it can be
guaranteed, as we believe it can, that that
inhuonce-the MANAGEMENT Of the estab-
lishment- would in the immediate future
come Into hands, than which it could not
be in any better; but where is She guarantee
for the more remote future 7
That Central Factories must come, not
only in this i land, but every where,
where canes are grown on comparatively
small properties, is, in our opinion, a ques-
ton that admits Of not the slightest doubt.
What may be doubtful, seeirg me extreme
difficulty some people have i'll understand
ing the question in all its bearings, is
whether we get them in timo to save
these ATTITUDES from too great havoc.
Considering the above, aud MUCH more,
that might be advanced, we question the
justification of the dislike of the contem-
plated Credit Association. We are inter-
ested in the locaIiziOg As much as
possible of the factories. That can only
be done, as matters stand, by means Of the
Credit Association.
If, now, we hayenot succeeded Il in making
out q good case in favour Of that ~institu-
ton, the fault lie ours, and not 10 any way
to be attributed to the Institution, in whose
favour we have ventured to weary the
reader again.
Ed.