West Virginia Democrat. [volume] (Charles Town, W. Va.) 1885-1890, 1888-05-04
PIRATE CAPITAL AND HONEST
CAPITAL

cessities and buy his property cheap,
and capital that is willing to go
into partnership with local enter
prises, provided it is made safe and
secured fair interest. The former
is called Pirate capital, and the 9th
err Honest capital. If your coal or
timber land is worths $50, Pirate
capital will give you 81 for it: Hon
est capital will lend you money to
develop your property.
We do not say, the first sort OF
capital will not come to West Vir-
ginia; tit is coming; as for exam
pie when Don Cameron bought, l00,-
900 acres for $9O,OOO,) but we do
say, that that sort of capital is of
very little benefit to our present
home population. For ourselves we
are not seeking or asking for Pirate
capital. We do not want develop
ment which proposes to strip our
home population of their property /;
we do not want that sort of prog
ress which compels us to sell our
land cheaper in order to enrich for
eign buyers.
The Standard Oil Company may
purchase every foot of our soil, and,
since this State is boycotted, can
purchase it cheap. Having acquir-
ed the land, the Standard Oil may,
with its vast capital, make West
Virginia bloom and blossom as the
Lehigh Valley, but will this benefit
those who now own the land?
When the Sheriff sells my farm
for less than half its value, it is
poor consolation TO tell me that the
new owner can borrow money ut 4
per cent and, by developing the
property, gain 500 for every 81 in
vested. To benefit me, you must
point out a way for me to borrow
money at a low rate of interest,
and then the Sheriff will not sell my
farm.
We have not leisure at this time
to follow these thoughts. Every
sensible man must feel the force of
what is here printed. 1t is our pur-
pose, if we can find opportunity, to
write on this subject more at large;
it is a matter that has occupied
our minds for many years.
The undeveIoped wealth of West
Virginia is as we'll known in New
York and London as it is in Charles
ton. The resources Of Virginia are
as well known in those cities as in
Richmond, and yet capital passes
through these States to seek occu-
patton in Mexico and In the Terri
tories. The reason for this is thor
oughly understood by the few men
who have taken the trouble to inves-
tigate the subject. Virginia and
West Virginia are not ''in the
swim; they will not get "in the
swim" until we remove the preju-
dice against us. This can only be
done by interesting in our local al
fairs such men as have access to
Honest capital.
There was recently embarked in
New York an association which, il
it becomes interested in West Nir-
GINA, can do moro to bring us Gin
the swim" than will be done by Pr
rate capital within a hundred years
to come.
Let it be understood, this associa-
ton is distinct from and has no con
nection with the so-called syndicate
which was organized to collect the
West Virginia certificates, and which
was before our last Legislature.
The Public Debt Adjustment and
Loan Company proposes to aid in
negotiating settlements of County
City, State or other corporate debts
which are defaulted, and to aid in
finding capital for local enterprises
where such debts exist. Those who
will take the trouble to inquire will
find that this organization can bt
of infinite service to West Virgins
and to Virginia. How far it viii
concern itself with the debts of these
States is not yet decided, but should
it do so, the problem of developing
West Virginia is solved. On this
point we will write more in the mex
issue, and the readers of the DEMO
GRAFT will know everything that con
Germs w. Va. or Va. so far as thi:
company is involved or can be used
Mr.. j. NJ. Mason (who writes this