The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1889-07-20
THE OUTLOOK.

>.
Farmers Bank made It's appearances In
the Bulletin this week.
The Telegraph congratulates the
city Of Monroe upon this giant stride
in the direction of substantial town
building.
We have about US anu around US
the territory, patursily tributary, to
support an active and thriving trades
centre. This territory is Inhabited by
a people who are friendly to Monroe,
and who would gladly make Monroe
the destinatIon Of their farm products.
The difficulty heretofore has been that
Monroe has not had the capital, or
else has not put forward the capital
required to divert this very desirable
trade from unnatural channels to Its
really natural points Of gravltatioD.
II requires money, and lots of it. TO
produce staple crops, and unfortunately
for the farmers and planters of our
section, they have not been able to
produce cotton without aid from some
advGntitious source.
The same remarks may be applied
to many, indeed the majority OF the
country merchants who have supplied
the smaller farmers with means to
grow their crops. Heretofore there
have been NO organized institutions to
supply the needed capital. aud there
fore il had to be sought at the mon-
etary centres.
We understand that 1t Ia. the pur-
pose of the projectors Of the Merchants
and Farmers Bank to supply, 80 far
as their resources will permit, this
"ioug felt want"
We have now the Ouachita National,
with capital stock Of $50, 900 aud
about $4,000 surplus; the Monroe
National, with capital stock of $780,
600; and the Merchants and Farmers'
Bank, with u capital stock Of 500, 600,
making grand total OF $24O, 600 avail
able cash capital that may and will be
used for the expansion OF our trade.
But this is not all. 1t is the experience
Of banks that, when there is no strin-
gency in the money market sum
double the amount of the capital stock
and surplus may be let out with safety;
80 that we may double these figures,
and we now have $3.50 900 in banking
capital. Further, we have, and the
number may be expected to increase
day by day, many substantial and
wealthy, mercantile establishments, all
Of whose capital, and generally more,
veiopment.
So that, upon tho whole, it would
seem that there IL no longer any. ne
cessity for responsible and reliable
merchant, farmer or planter 10 seek a
foreign source for aid TO carry on 10,
climate business. ..
There Is not the slightest reason why
the city of Monroe, for the season OF
ls90.9l should not receive 100, 900 bales
Of cotton. By that date our available
capital will have found its way into
the country, aud it will just as surely
find its way back, with the accretions
naturally Incident to trade.
We invite the attention OF our read-
ers to these reflections. Look at our
figures. Think of tho country tribu-
tary to Us. Make figures on the guam
tity Of cotton produced in that terri
tory. And above all, romemember
that the people are anxious to estab.
lish trade relations with US.
Let us be of good cheer. The dawn
Of II better aud brighter day is most
certainly upon us. Meanwhile let
there be no tagging of interest 10 any
good work. Boom the cotton factory
Arouse the moribund fair association.
Iaaugurate a street railway enterprise.
DO anything. But in Heavens name,
do not stop!
THE MISSISSIPPI CONVENTION.