Vicksburg weekly herald. (Vicksburg, Miss.) 1868-1883, 1877-08-31
REVIEW
or lbe Cotton, Hardware, Dry Cords,
Groceries and Other Leading
Commercial interests Of
our City,
CSBiSus Extracts irsm the Lending IOuF.
nails Ofthe Country On the State Of
Trade, and Prospects for the
Sane DuFIss the Cen.
log Business SeaSsH.
N

FINANCIAL,
It is impossible to give In a compre-
hensiVe form anything like an extend
cd account Of the operations of our
financial institutions, from the fact,
mainly, Of the inadequate supply Of
money in our city, and the utter alb
sence Of an organization among the
bankers and private capitalists here,
whereby Information Of that character
could be obtained, alike interesting TO
our immediate friends as well IS the
general reader.
The importance Of commercial cen.
ters and cities generally, are usually
estimated by strangers by the amount
of banking capital employed, and In
numbers Of instances our locality is
overlooked when it becomes known
that we have an extremely small
amount Of money for the proper trans
actions of q city the size Of our own,
and We are, therefore, frequently
placed 10 the catalogue Of unimportant
towns, both In q commercial as well as
q financial sense.
One thing we may, however, safely
assert with a working capital Of less
than any city of her size, perhaps, In
the United States, our banking institu.
tions have been able to successfully
manage the proper handling Of a large
cotton crop, together with the regular
demands Of the mercantile interests,
and stands to-day safe from the storm
Of financial depression, free from en-
tangling alliances with railroads,
broken Insurance companies, and mort
cages on rapidly depreciating realty,
but secure in the confidence Of the
people at home, as we'll as occupying q
high place on the books of the money
lenders throughout the land.
While every praise should be accord
ed the gentlemen under whose charge
the banks are carried on in our city, 1t
Is nevertheless true that come speedy
steps should be taken for the purpose
OF inviting other capitalists to settle
among Us, to the end that our increas.
ing commerce can find ample accom-.
modations, and lend an additional
stimulus to q trade which has already
suffered 30 much for means sufficient
to carry It on,and more fully develop 1t.
We have been cirCumscribed within
too narrow limits, and u expanding
cotton market alone should offer in-
ducements enough for the proper
amount Of money to be forthcoming
from the idle millions Of the East, to
make permanent investments In our
midst, 90 they can assuredly find here
an outlet for immense sums, with good
securities, and q certainty Of large re-
turns.
With an addition to the working
capital OF this section, as we'll as the
South generally, IN outlet would be
found for Thousands of the laborln 3
classes Of the Atlantic sea.board, and
not only be OF the highest material
benefit to the South, but would add Ia
the security Of the future in relieving
the crowded cities and towns Of
the East of the ove~rburdened members
Of the working classes, whose com
plants Of low wages was the main
spring to the late strikes, which added
so much to the political complexion o.
the country during the past few
months.
With the sufIerings Of the CONNER
cisl interests o! our city from the wan
Of sufficient money to properly build
It up and carry il along, It is neverthe
less q ma ter of congratulation to Vi
ell that no material interest has ye
been made to suffer, when either OF
both our banks were able to extent
necessary means for lie contamination
They have been uniformly liberia
and public spirited, but at all time
were forced TO guard against taking
I great risks, not from the fact alone tina
they are conservative in their name
OF transacting business, but that a pru
dent course wal at ell times necessar.
as a safeguard to their depositors inter
esls, aud alike best for the welfare o
the city and themselves. In contlu
sion, we can only wish that q few
years will find US with ample mean
for the transactions Of u increasing
commercial demands, and that OF al
times our capital may be as safe!
handled as it has been in the past.