The weekly Union times. [volume] (Union C.H., South Carolina) 1871-1894, 1881-04-01
Tho Columbia Water Power,

According to promise we publish the circular
issued by the Executive Committee OF the CO.
lumbia and Lexington Water Power Company.
The Circular no doubt sets forth the aims pur-
poses and prospects Of the Company with sufii.
cient explicitness to satisfy the Committee and
the people OF Columbia, But. like the advertise
ment, II leaves outsiders still in dodbt whether
the money they are asked to invest will be ex-
pended in merely developing q magnificent wa
ter power for capitalists to rent and build facto-
ries upon. or in building factory. The very
large amount required, MS appears from the cir
calar, before the power can be made at all
available ($20O, ,0OO) is calculated to so startle
any man in South Carolina who has 81 900 or
less which he would like to invest and the pros
pect for receiving any return so distant and
unreliable that we fear there will be but little
enthusiasm created for the enterprise. We also
fear they have put their pegs too high-started
on too grand scale. We think a little like SEN
ator Brown, "a million dollars is o large amount
Of money" We, however, are pleased to see
that the committee consider the subscriptions
to the stock very encouraging. On Monday last
Sill 800 had been subscribed and very "eucour-
aging advioes had been received from various
sections Of the State
That Columbia possesses greater advantages
than any other point in the South for Facto-
ries and industrial enterprises Of almost every
character no one, who is at all acquainted with
her central location, her railroad facilities, her
magnificent and never failing water power, her
unsurpassed health and beauty, will doubt for a
moment, and we have no doubt that eventually
1t will be the great manufacturing centre of
the Cotton States What we wish to see is
the people Of the State securing to themselves
| oil the benefits Of these natural advantages, by
n judicious and careful investment of their cap
ital IN developing them. We have no million
aires among our citizens, and cannot afford to en-.
gage in magnificent schemes Of enterprise, howev-
er certain success may appear to be in the distant
future. Experience has taught us the fact that
all grand enterprises in this State, established
| by the voluntary subscriptions of our citizens,
are sold out by the Sheriff or in some other way
| fall into foreign hands-at about one-tenth of
their cost-the people who built them losing
every dollar of the money invested. We have
| lost all faith in grand schemes" in which the
| people ore callel on to invest their money for
the public good. We repeat, the Columbia and
Lexington Water Power is on too grand and ex-
tensivc scale. If they will call for $500 ,OOC
or $500, 900 to build Cotton Factory, there will
be no trouble about their getting it.. They had
better go back to the "modest purpose initia
ted under Mr.. Holly. That will insure success
and with success will come confidence and
with confidence they con command any
amount Of capital. We like the way the Char
lesion people have gone to work to build Cot
ton Factory to be run 10y steam. Before the
dam Of the Columbia and Lexington Water Power
is built, as now proposed. the Charleston Fac
tory will be paying handsome dividends to ii.
stockholders.