The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1880-01-18
TO the Editor of tho Demo rat:

Your very timely article In last Sundays
ISSUE under the caption of The Necessity OF
more Banking Capital" attracted my attention
and read 1t with satisfaction, approving it's
well-consdered conclusions.
1t has often struck me with surprise that Ia
this large coma ercial city We flnd 80 few mon
who are ready TO haz .rd one liar that two can
De made. Thy never seem look ahpai but
grope their way Ia u kiud If mental blindness
~ to the future OF this great city. Content With
and certainly risk nothing. 10 build up our
ommerciai and indns'tiai prosperity.
Inc lime und ub edly once was when Radl-
calfsm ran riot over our governmental and
material welfare. both In city aud cnuttry
their capital shrauk from showing itself ANA
very wisely and properly too. It there can
ernu ent OF our own making. strong Ia the
affection Of the people Of tue entire state-a
whelming vote OF the ciz ms IL the Stat-
economical Ia all It's provisions. the state debt
question forever ut a rest BY 2 Just and lip-
srai ARRANGEMENT with her creditors capital
valid and Sound under r" the hsa' r Wire
OF robbery and lunder. Ii foreign capital Is
still persi- In refusing to max q pertuauentt in
vestments Ia our City ami State on account of
tne want Of strength Of our State government
they must look elsewhere for stronger aud 4
better; Not In these Unted stn,es viii thew
nnd their Ut pta II They wish to chi " good
laws. low taxation. In short desire to make
money, safely md surely. We can only Any
misfortune. We. native aud 10 the manor
born. have entire conf ienc. in our ability 10
Protect our own interests AMI all Others who
may ohose TO share wi h us the benoh Of good
government aud its necessary burdens.
We have been In the past aud are TO- day |
too much d. pendent upon foreign capital Tor |
our own immediate prosperity We permit |
hundreds OF thousands OF dolIArs to b. carried |
away from ths banks of this city and hence 10 /
tneiE shareholders. hy the annual innuX OF tor |
efgn sharks who line their pockets with green-
pacKs ana brtDg their precious bodies here |
take SIX by nine office In some third story IN
some commercial street. or rent merely desk
room on some gentlamans grounu floor
market Ia compt,iton wi h our banks-gDud
home banks cut down legitimate rates porket
the profit. end when the cotton season IA over
ny back to Europe or TO part. unknown. leay-
Ing not a red cent behind, but arriving AWAY
thousands upoR thousands that truly and leRt-
smateiy belong t. our own tabk and BANKERS 4
That kind q eariial and enterprise 1s NOT
The kiLd We need. We want permanent invest
ments. We want the substa Ltial evidence har
. man; when he comes here to make mo- sy.
shall show his sincerity and his uelief la asts
By leaving some evidence ulain AMI palpnbIe
hat he takes sub-taRt al Interest In our ciLy's
Welfare.
We want no more 81 these 'SpecuIators In Ex
shRnRe," who come here to inrure The Legitimate
business of our b nks and bankers and then
Then gone. look back and laugh ov.r our LACK
IL magnaniaity. flresisht and nerve. No. 1T
Is continue to build 10 our trade on our re-
ources. and reap ourselves Its Just and ieziti.
nate profits.
ent OF these Birds OF Passage" and "Finaa-