Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1892-09-29

; l.v,. G.aa,, huttr
,lika tho now state. of the West. Maine
h,. ,n ,.e,l to Interest capital from beyond
h.. hnrJ..r. Itis only necessary 10 satisfy
AM own u..nul,. that better results are to be-
,,,.i,aJ Inv ..muloying their capital in the
/ ,.roI.,,,,,ent ~ nur own resources than
e., s,,,;,,n Investments 10 materialize all
/ ,h, ,os.ihili,;es of urosperitv of which the
nat,,.,l conditions of Maine. bv improve
| meot are capable.
| Thn capitaI for the development of the
! great West has been furnished largely from
| Now England and Maine has contributed
be- full sbare in this direction. and TODAY a
| Iar,,e maior;tv of the banking capital of
! hi. State il represented by the promise to
nav Of foreign borrowers.
of the total resources of our savings
h.nk. which last December. amounted to
/ a. j,os7l4-. only s2247l.445.27was in
vested in Maine securities and loaned upon
Main. coIlateral. and Maine mortgages. If
the miIlions of holdings of private investors
of Name could he scheduled larger pro-
horizon than thi. would be shown to consist
/ nf forpivn Investments
The reason WHY money leaves Maine. is
! th,, borrowers elsewhere nav more for its
nae than can he obtained for investments or
loan. At home The West has few money
/ Iend,.r. in proportiop 10 borrowers. Bank
ronital il largely the property of Eastern
;rts.tors Their business men are obliged
10 look To the East for their loans. and in
ord.r IN obtain them they must nav one or
two nor rom above the rate thar the aver
,y.. New ENGLAND borrower can afford to
/ nav f,r ,oon.v IN he used in legitimate
hn,;raxs in tho Fat Tho Maine manu-
! f,c,rrar rc..on. thar uulass ht. i. sur. of
Nv. nor con, for bis money he cannot uf-
forl Ia increase the producing CAPACITY of
his ,lant
The Wasternar saws must doubl,. NV
nrodurt and In. increase of populatiou will
archance tho v,lua of my nronertv here
and Jwill borrow the eapitai for this MIR.
| ,nsa ,t a.. Low , ratio NJ. / can hut I must
have ;t,pv,av IL. tho more rand growth
of III. Wes, which enables its business men
To nav more for the use of money than the
Eastcrn borrov.r can afford For exau,ple
/ An Eastern rornoration j. organized for the
uurno.e of supplvinp a yillap. with water
for domestic use, They count the dwellings
and base their .stimat, of gross earnings
un,n tho nresen, manhattan and limit thor
interest charges to conform thereto. 4
kindred cotunnny in the West constructs its
uorts,,d ,ssue. and soils its Il nor ,ent
hords in 4, volume sufficient to nav for the
c.st of ur.snnt cnnstruc,ion the nrobsblp
,s,,;remants for extensions and an addi.
t;,r,I amou,t IN nav tho intcres, counops ot
the bonds for five wears To come assuming
,h,t tho growth of the town will he sufficien,
hv that tim. tn nut the works upou a self
sustaining basis and generally their calcu-
l.,,on proyes correct Ranks and money
Iepders of the East recognize that there is
rather more risk in making investments in
the West than at home. and except for tn,
HIGHER rate of interest, home investment,
you'll command tho mrs florence
Now the proyress of deyelopment of the
resources Of Maine ,lepends unou nothing
.Ise ,han in keen;ng Maine money enpI,v cd
in Maine enternrises and industries and the
o,Iv uothod bv which this resnlt ran he
coached ia nv making the net income 10
h,ntsand investors fro,n NANCY loaned in
Maine eoual IN the income from money
Leaned eIsewhere
mo oros,ion of mup;c;nal tayatinp has
,,,,,t 10 40 w;,h ,-o,,o,ir,, ar ra.ar,l;n, tho
deveIonment of the resources of the State
The matter of equalization of taxation
b,s orci,nied tho attention of our Ieg;sla
,prp NJ aImost every session to an extent
vh,cb would seem to indicate that thi. bur.
dc, ia u,eou,Ilv horne Shin MINERS no.
/, Eovo 49, sh;ns ,axoJ ont az rrnnor,ior
,,;,b ro,i es,atc whit, farmers compIa;u
ut r.;Iro,1s savings hanks and cornora.
-, l., ~. 80, g. sb,ro of tho IN A.
t,ot,y.a, ,b,ss j;fersnt classes of nronertv
,.;a;,I., =, ~, .,,., oe tho .ssoss,, thara !.
-tt.,tt,, h,. .T,,h, i,aou,l;,y E,rmer.
r., harl s,-,.,,,a to nov ;be;r annual
,a,as
rha ,-ss.,, ,,r unon r,ilro,ds mater;.
an. = - ,,d, a,rn;ras Say;nas
~ 49,. -. 5oIIa- no, o,,e,bt Tn NV
- r.. ,-,,cr, Ia,r an5 ,,,anrf.etrri,c
-. r, it;,,,.ail, ,ssossaJ for III, mr.
-, s. ,,xa,;an Exact .ouaI;., NOV h.
i,,,oss;lIs. bnt any method which onerates
,I;,,.r;,,;n,,;ort D., ,ho farmar ,bs sb;r
unar tho r,,ruf,,,urar tho savings hank
~, r,;IrnaJ 1o,,,.d in Maine and in
So IS fora;,, ;nxest,,apts dnas nor foc:i,
;,.,. ,bs dov.lnnmspt M tho resources of
DO s,,ta
,;.+ ,.,o;,at and ax,.r;,rce L,,o,,.
,hat ie ha srhscr;hes ,or hon sb,res os hapk
.,oct IA establish -, BANKING can;t,l tn he
"a =, ,b., Jay.I,,uant of tho resources NJ
Eve ,csn ,ha, no NAV receive $40 in diyi.
Ind and !. snre ,o NV Soo municin.I tar
/, man with canitaI ami exner;enre know :