, 1875-12-04

dtuOutIk rs q IOdu tOILl lLI6 OL6LGlIGdSuIHS
on condition that the other half should
be raised in the Isl nd itself; and as it was
fores"en that it would not be possible to
raise this latter sum here, certain parties
10 Denmark agreed to furnish it by taking
shares - that amount in the Factories !;
but even this remaining fourth part it was
not possible to raise here. The Govern
ment therefore came forward with q pro-
posal to raise the sum by o combination
among those proprietors, whose Estates
were not mortgaged to an extent to en-
clude them from giving the necessary
security, so as to form o Credit Association
on the same principle as the Credit-Asso-
Citations existing in Denmark. Il is clear,
that already such an admission of he ina
bility OF the Island to raise even one-fourth
OF the required capital was nor Of a nature
70 give those who were to furnish the
three-fourths. o favourable opinion Of tho
security for their MONEY but it would
have been at all events oil effective proof
OF earnest desire on the part Of the Island
10 see the plan carried cut. Bat even this
iudispensab e, and in other respects, indie
pendent of the Central Factory question,
so beneficial measure, has failed to obtain
the necessary support For a long lime
the amount, for which Members were
found willing to join the Credit Associa-
ton, remained stationary at 1858 900, white
the sum required was S4O0. 900, I'D Of
those S263,000 a very large proportion
was for account Of one individual, another
circumstance Ill qualified to inspire conf.
dence abroad ;-aaSone party has attached
20 his consent a restriction, winch if
perseyercd in, renders it useless. After
q white a few ->ore joined, SO that
the amount at present entered, is about
$500 900. Such lukcwarmness and in
difference on the part Of those to assist
whom and save them from threatening
ruin, was o principal motive for promoting
the whole scheme, must OF course produce
a corresponding GOODNESS in the minds Of
ti:osa who had been willing to come to
tho rescue, and at least mako them uuwil-
ling to make any further concessions in
the conditions. Mr.. Tietgcn is sill
willing to support the clse, but only on
conditions which he Island shows Itself
reluctant 10 fulfil
It will thus DO seen, that there is but
Ittttc nope 'clt oI occurring " nat. is CON
Eidered not Only by the Government, bat
also by a large majority OF The inhabitants
aud proprictofs, as the only means Of
obtaining a tolersbly prosperous condition
Of the Island.
!, At the same time we all know, that
for several years IA considerable number
of Estates have had to be supported by
direct advances from the Colonial Treasury
on security in the crops; and that for
the last two yeas it has been out Of the
power of the Colonial Treasury to procure
the mesns for that purpose, and it was only
enabled to do SO by quite an exceptional
measure on the part of the Minister Of
Finances, 70 sava the Island from impend-
ing ruin, a measure which will not be
repeated. 1l.e means disposable from the
Colonial Treasury have by the repeated
disasters of the last years dwindled down
TO such u low ebb. that there is no help
more to be expected from that quarter,
and, consequently. after the commence
ment OF this crop CIRCUMSTANCES eau
no more be expected. Furthermore, there
10 no reasonable doubt hut what the
present low prices of our produce will be
permanent. There may, OF course, happen
some accident, for instance a failure OF the
crops in one or other of the large sugar
producing Countries, but any tendency