, 1890-09-13

NAlCIul IMAM IiON INlIS NhNAb~ - N1N~
wives and tim,iits, that they could never
have ever hoped to obtain without the as
s|iStance of these building societies, and it
IS pleaSurable to note that they have been
established nearly al over the Island and
besides providing homes for the people
they have improved the towns and districts
and rendered them more slightly. No place
has benefited more than Kingston, and
those who can rene N Der the city q quarter
OF a century ago must now look with be-
coming pride on the work OF the BENEFIT
Buildmg ~OcietieS. Next IN rotation comes
the Fire and Life Insurance Companies,
both doing good work with local capital,
the iOnuer providing the means, restoring
the home OF StOfe IN cases OF conHa9ratloIl,
the la pT providing .SuStenance tor the
widow AMI orphan on the removal from
mortality Of "the newer Of wood and the
drawer of water The premiums earned
hy these Societies have not only been kept
at home but give Il fair interest TO the III
weston. Then follow enterprises occupying
large capital, giving employment to our
people, circulating large sums OF money,
and paying very handsome returns. Nota-
bly, among them that are the kingston Ice
Company, the several Fruit Companies, the
Street Car Company, The Marine Insurance
Companies, and following i'll Their wake,
c0me the Hotels Companies, the Electric
Light and Power Company, nc; &c.
With all these enterprises, Involving, a
very large amount of capital, there is still a
great deal of money here seeking Invest
menI, and each year the sum will grow
larger; and with an accumulation 'ot"the
suppIN. ,lr interest for money on calls or 0n~
mortgages viii grow less. All these
changes have come about in the last quar-
ter Oh a century. The writer remembers
when II per CDdt. per aunum was the cur
rent rate for money outside The b@nk, on.
fist class Securlty, ana as hIgb as ID ANA
20 per cent was paid without It's being cons
siderpd excessive, To-d"y 9 per cent ON
MORTGAGES IS considered high, and although;
il is the current rate, We hear OF Il great
many tiansacti ions at 5 per cent. And
whence The accumulation of money but
from the thrift Of the people, saving and
combining unuer the Limited Liability Act,
to trade GA IN extended scale, and accom- o.
plShing by companies what single indlvi;
duals or even firms OF ample means would
Shudder to attempt a.
For The further investment of capital for
the further development of our resources,
and still further; tor the securing a high
rate OF interest for the small sums that
each Individual invest, there are many Ell.
terpriscS that. will m eet all the. require
mentS lying dormant, a. .iting TO be-
brought into active existence and capable:
OF giving employment to hundleds OF our
natives and yielding rich returns, but the
guiding hdnA is. wanted. Men>-Of leisure,
intelligence, and known inte2rity-and.
there are many OF them in the countrY7-are.
required to t, Re the helm, see all things
are smooth, that every precauti ] is takef
for the successful launching, give, the word,
of command and set. the craft a1oat.
Among the many enterprises, that should
he started iii Jamaica under. the Llmtteq
Liability Act, and which there can be
little doubt would prove su %cesstul, would
be a Paper Mill for which We have album
damt water power and available stock an
over the country. that, now. yield nothing,
but would become sources, of great wealth.
Dairy Farms on an extended scale that
would embrace the manufacture OF butter
and cheese. which give large resources for
the raising of pigs, and on which would
follow The packing Of pork, the rendering
of lard and the smoking of hams Other
enterprises would be a cracker factory
on a scale sufficiently large to supply
the demand, without the necessity of i'm
porting. The drying and sailing of fish, for
which our legis lature has offered a large
subsidy, the splitting of shingles from the
cedar-which if done on practical and eel
ehtifc principles will pay handsomeh* @lal
last longer than the impOrtel CEpEtes
- 60.