The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1889-03-10

spot in Memphis without approaching the
actual selling value OF other property.
No factory, however small or large, can
be operated in Memphis without furnish
ing additional consumers, taxpayers and
property-holdcrs One million dollars In
q cotton mill will support over 1000 pao-
pie, who must cat. drink and amuse them
selves. One million invested In many
other ways may increase the wealth OF the
capitalist but not necessarily that OF the
community. 40 a rule manufactures nav
profit Of from 8 10 % per cent. This Is
applicable ~ the three great industrial in
terests which utilize cotton, timber and
iron in all their separate branches and
qualifications. The profits Of the investor
are more sale, more suri and more
steady than they are In speculative enter.
prises and the total value OF the plant and
iis product In assimilatcd wealth remains
ut home. This is a clear Und a practical
demonstration OF the claim we make that
more can be done with less money 10 build
up town by placing ii in manu-
factures than can be accomplished
through any or all other agencies.
Instead oil manufactures naturally
following trade and traffic il is the law OF
nature that the latter should essentially
come after thriving and prosperous In.
duslrial Interest. The demand must
come before the supply. Tho first invar-
iably creates the latter. butthe latter has
no power 10 create tho inst. The opera.
ton Of the opmhercial and financial ma.
chimes depend solely upon industrial de,
Eelopmcnt, upon The agriculturalist, tn
nsner, or the man daciHrer, or in brici,
entirely upon they Jducer. For the
gigantic scope Of our present mercantile
interests, wo have Tennessee, Mississippi,
Arkansas, and the adjoining States, ~
much almost NJ We owe ourselves, and II
Is 10 their thrift and enterprise that We
are indebted for is immense value and
importance. II cannot be expected that
our natural resources will bring
manufactures hero unless We let
people know what natural resources
We have and what confidence will there be
placed In our Claims TO superiority over
other points unless we make some sub
sianiial proof OF them according 10 the
plan proposed In this paper by "Real Is
tate" some time ago2 This leads us TO
suggest that the only sensible, polite and
expcdient method Of encouraging manu-.
features Ia through some such medium MS
an association oi capitalists, manufacturer,
merchants and citizens generally formed
for that purpose. Will those whose inter-
ests would be hest served by manufactures
aud all the concomitanis OF increased
wealth and population which follow them,
take an interest In this matter and exert
their energy, their influence and their in
telligcnco In a progressive dlrection7 VIII
the propcrty-holdcm Of Memphis ioin with
the other citizens In an effort to increase
their own wealth while increasing that
and the population OF the whole
community Those who would DO
the greatest benefciaries Of improve.
ment and development In Memphis
know that nothing eau be done without
their cooperation, and that no association
can effect any good thing unless its plans
have their sanction aud support. These
gentlemen have nothing 10 lose, nothing
10 risk and everything TO gain. Thoy are
requested TO consider the matter and de-
eide within the next iow days whether or
not they will indorse the plan proposed by
''Real Estate" and give the association
their assistance. As the writer under.
stands II the proposed association Is 10 be
composed Of all classes OF citizens inciud.
ing property owners, manufacturers, mer.
chants, bankers, capitalists, mechanics,
clerks and everybody else who desires 10
corporate. The membership will be OK.
pec,Ud 10 represent at least s20, 900, 900 oil
real property. Those included In this az.
gregaiion Of capital win decide ~ 10
whether or not they would b. will.
ing TO assess themselves ~ per cent.