Milford chronicle., 1883-07-27
DRAWBACKS TO THE PROSPERITY OF THE
PENINSULA
MOI.

An old English prOverb runs thus:
Il Penny, whence cOmest thou? Penny,
whittier gOest thou? and, Penny,
when wilt thou come again? These
i three questions it behOOves every man
on the peninsula, and especially every
resident of Delaware to ask himself,
and answer them if he can. II he
gives them the consideration they de-
serve, he will arrive at the conclusion
that there is something radically
wrong in the financial policy of their
monied men; something which makes
| increasing wealth walk hand in hand
with increasing poverty.
Penny, whence camest thou? It Is
au accepted fact, that all money comes
primarily from the working, or pro-
ducing classes as they are termed by
writers on political and socia ECONOMY.
Not that these are only those who
work with their muscles and sinews
rs labOring men, but includes all those
who by their brain work direct the la
| Dor of such men, and enable them to
produce more than mere brute force
and ignorance could produce. 1t also
! includes those, such as merchants, ira
ders. commission men and others who
distribute and interchange the prod
I utLS Oh Tie AAUOI vi OAlG ClslSS VI lAO-
ducers with those of another class;
equally necessary to each other, and
equally responsible to the rest, that
the aggregate results of their labOrs
shall enure to the common veal,
and to the benefit of the community
from which the wealth was derived.
If this is not done, it is a species of
social treason, warning against the COM
mOnwealth, and eventually ending in
financial suicide in which all become
involved IN a common poverty.
Penny, whittier gOest thou? If it,
goes to the increase of comforts, to the
education, and promotion of the in
telligence of the community in which
it originated it gOeth well. If it does
not so go, it gOeth wrongly and to the
injury of the community. To illus
trate, it was reported last winter that,
the banks in Milford had on deposit,
$3.50 600, which they were lending out
in Philadelphia and other cities; and
at the same time refused to lend mon
ey on warehouse receipts to the par
ties engaged in the business of cam
ming and evapOrating fruits; thus COM
pelling these parties to put their prod
ucts on the market, faster than they
were needed, so producing a glut and
a lowering of prices below a reasonable
profit, this meaning that eventually
the wages of the men, women and
children employed in these establish
ments, must either be lowered, or
these industries must be crippled. 1t
is so with other enterprises, if they
cannot have legitimate financial ac-
cOmmOdatiOn in the communities in
which they are established, and where |
A. lrnn.aTn
thev will not be established; or will |
seek such places as can afford them |
such facilities as they need. Parties |
from abroad desiring to enter into le- |
gitimate enterprises will not come into I
communities where they cannot obtain |
proper financial encouragement |
Wien people outside see a community /
using their own means to bring about |
thriftiness they always feel disposed to |
render them assistance. Visitors to |
Delaware are struck with the lack of
manufacturing enterprise in the state, |
especially in Kent and Sussex counties;
the more so, rs there is so much fine |
water power running to waste,with a |
fine climate and soil living cheap, tim |
ber pleanty, and a close proximity to !
three great commercial and financial
centres. Compare ii with Rhode Island |
also a small state, and the difference is |
something remarkable. There are a |
large number of comparatively rich |
men in Delaware but they are
lacking in enterprise; if they make a
permanent investment, it is in land to
be worked by a tenant farmer; their
floating capital is loaned through the
the banks TO the residents of cities, out
side the State to be by them used in
developing theirO own industries, INSTEAD
of being used at home for that purpose.
The penny goes abroad, true it yields
a small interest for its use, but a penny
saved is not always a penny gained, !