Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1883-04-06
AN EXAMPLE FOB MEMPHIS.

when man goes into business ne wants
to increase his business, and to accom- plish'
this he brings every effort OF his industry
into action. But, besides industry, Inc ex-
ertion CT skill and toll, there must be
thought, the use of brain power. This, if
well directed, will show him that besides the
direct progress he can make by his own
efforts in his own business, he will be aided
by an indirect auxiliary if, while he is rising
by means OF this attention to his own affairs,
the place in which he is situated is, IS a
whole, advancing also. He then has what
he gains by his own business ability and in.
dustry; be also participates in what is gained
by the general prosperity of the place In
which he lives. A thorough business man,
therefore, will not limit his efforts to what
directly concerns himself. He will be
assiduous in promoting the general well
fare of the community. 10 other
words, he will be what is called "a public
spirited man." for public spirit is energy di-
rected towards those general efforts of the
community in the success of which his own
success in life is involved. Whenever a
business community is doing we'll there will
portion of that surplus is generally used "a
establish some association by cooperative
action, such as a trade exchange, a bank, or
factory. The use made of this surplus
capital is all-important in forwarding the
general interests of the community. III a
man invest his surplus in stocks or bonds, or
in similar ways, he may be adding to his
bank account, but he is advancing the inter-
ests OF the town in which he dwells no more
than the man who also inyes's in securities
that lives 500 miles away. This surplus
money may be invested so as 10 pay the inves-
tor as well as anything he can do in Wall
street while it is at the same lime profitable
generally to the community around him,
whose well doing adds to his own prosperity.
But even here good judgment is required, so
that the advantages resulting from the use OF
surplus capital may result to the surrou I'D
ing community, not 10 some other commu-
nifty. For instance, il the business interests
OF place require bank much benefit will
arise from establishing one. But if the bank
ing facilities of the neighbor hood are ample
10 establish 4 new one that would have to
seek in some distant city, or in the public
funds, the means of making a profitable use
oil the money at the command OF the bank,
such an investment of surplus capital would
not result in an equivalent advantage to the
community amid which the bank was estab
lished. One of the best uses to which sur
Plus capital can be devoted, 30 as to he Of
advantage TO a community, is to establish
manufactures. The wages paid to manu-.
featuring labor are spent in the
place where they are paid. These
wages attract population, increase the
number Of houses, and give life to the local
trade. 10 this way surplus capital is made
= means of increasing, the number of the
business mans customers, and the amount Of
the general wealth of the community. With
such prudent way OF using surplus capital,
results may be accomplished of an almost
marvellous kind. The recent history OF the
town OF MerideD, Conn, ia an instance OF
this sort that merits attention. 1t was q
small place that obtained cooperative exist
ence only fifteen years ago. There is nothing
specially favorable in its situation or natural
advantages; fuel and building m aterisl have
to be brought long distances at q correspond
ing cost for transportation; it has no large
river or important water power, yet within
the last twenty-five years it has grown more
rapidly than any other town in the State.
What, then, is the secret of it's success? II
was its good fortune 10 have within
its compass men of brains, intel
ligence and public spirit, and TO
the prudently directed energy of these
men all the good fortune of Meriden
is owing. These men saw that to have bust
ness they must have manufactures. They
began them in an independent, modest way.
They borrowed no capital from abroad; none
OF the more favored among them had inner
tied large wealth; not ten Of them owned his
$4,000. What was made in the place was
expended N it, and; gradually the cheap
wooden shop became a substantial brick
factory. To-day the manufactures there
extend over whole acres, vsst engines drive
immense constructions of machinery. Grad
and quietly the TRANSFORMATION hiss