Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1890-05-23

We PRINT on our first page today a letter
which gives, as we believe, a correct in
side view Of the southern boom furore
which has found so many willing victims
IN New England and its full share Of them
IN Vermont We have chosen this letter
for publication because it hears on its face
the marks of being a truthful and unpreiu-
diced statement, presenting fairly both
sides of the question. Briefly stated, the
conclusions of this writer are that the
natural resources of the South and its on.
portunities for bona ide investors, who
are not trying to get something for nothing,
have not been over-estimated or over
for starting new towns and Cities" are
purely speculative and nineteen twentieths
of them can end only in disaster. This,
evidently, is the belief of the southern
people themselves
The methods of the boomers, as here pic
tured, are interesting A location is picked
out near deposits of coal and iron, which
are abundant in many parts of the South,
and where railroads might centre should
they ever be built A company is then
formed to put up blast furnace or two,
perhaps some other kind of manufacturing
is talked Of or set up, it is announced that
the new city is % have electric lights
and electric street cars-in some cases
plants for this purpose are put in-and
then train loads of excursionists are run in
TO start the boom and sell the town lots
All this would be right and legitimate if
there was a substantial basis for the move
ment-it there was a population real or
prospective 10 warrant il, or if the boomers
were genuine investors who meant to STAY
on the ground, improve their property, and
help 10 build up the country. On the con
trary however, they are men who are ION
the make, or who are trading on great
expectations hoping TO double or quadruple
their money, but who will quickly unload
upon whomsoever they may as soon as they
lind these expectations likely 10 be unreal
lied, These remarks have no application
to the thriving cities and smaller towns of
the South whose opportunities are un-
rivaled and whose prosperity is assured be-
cause built upon basis of sound and nat
ural growth, but the description is unaues
tionahly accurate of the great majority of
the land company and other boom
schemes, over which so many northern PEG
pile have gone wild. To give each Of these
towns, which the spectators have built on
paper, a population Of even 10000 souls
would require more than quarter of a
million people, aud Gov O'Neal of Alabama
may we'll wonder where so many residents of
desirable and permanent kind are coming
from. 81 cannot see, the governor said
IN substance, that the presence of iron ore
and talk about blast furnaces warrants the
founding Of towns before we have the peo-
pie 20 fiji them
In some cases which could be named.
Vermont communities nave been 50 drained
of their money TO pat into these speculation
and gambling schemes that il is literally
true that not enough is left for the ord.
nary course of business, and everything is
at dead standstill We hope the owners
of the money will SEE its color again, but
the chances are that the majority of them
never will That money is needed IN Yer
mont 10 establish small manufacturing in
dustries, Co improve good farms and raise
horses and cattle, To give towns aud vii
lagos modern improvements, 70 give de