Middlebury register. (Middlebury, Vt.) 1886-1937, 1892-07-08

better water privileges are being taken
and either occupied or held for future use
by Intelligent business men," Hon. F.
c. Kennedy, manager of the woolen mills
at Winooski, says farming is not so prof
liable as it once was because of the in+
creased cost of labor, which, in my
Judgment, comes from the increased CON-
pensation paid for labor in manufacturing
industries of all kinds A better state
of things will result, he believes, from
an increased population and increased
consumption of farm products right at
home, as also from the adoption of i'm
proved methods of farming. "lt is con-
ceded, he continues, ''that agriculturists
situated near our large towns are well
compensated, consequently at this stage
it is vital to immediate progress that we
secure as large an increase in manufac-
turing as possible, and thereby increase
our home market for the products of our
farmers" But perhaps no one of the
persons applied to states the case more
forcibly than Col. Woodbury. of Burling-
ton, who says, among other things:
1t seems TO me that it is of the first i'm
portance that our manufacturing indus
tries be increased, as this would necessi-
tate the employment of more labor at fair
wages, causing greater demand for ag-
ricultural products. This would give a
larger home market, which is always the
best. And the investment of more capi-
tai in manufacturing properties would
increase the total valuation for taxation
and decrease the per cent necessary to be
levied upon all property, including farms.
The products of manufactures in Ner-
mont may and should he doubled in the
present decade. How can this much de-
sired result be accomplished? BY the
people in Vermont, who have any money
to invest, lowering their vision and not
looking over her mountains and beyond
her limits TO some distant and fancied
better place for investment. Prosperity
is nearer us than we believe. 1t is at our
doors, and all we need to do Is to reach
out our hands and grasp it. Is it not
safer for US to invest our money where
we can have something to say about how
it shall be used, than to trust it to alien
and often dishonest hands?
Col. Woodbury. is undoubtedly right as
to the utility to the State of retaining
money at home, but that can't be done if
money is worth more elsewhere than
here. AS Mr.. r, j. kimball of West
Randolph, another of the letter writers,
truly says, when answering a question
as to what legislation will promote the
States prosperity: "There is no law.
and can be none, that will make the cap
italist lend his money at any price, I'M
less he chooses; and no matter what the
law says, as to vote, is governed by the
law of supply and demand, just the same
as silver or any other commodity.
have been glad to get money at one per
cent per day-and that was the market
rate-when the law said six per cent
per annum was all that was legal to
charge"
The West has offered tremendous in
ducements to Vermont capitalists for ten
years or more. Ten and twelve per cent
has been paid by western borrowers, and
the money has gone where it would earn
the most for its owners. But the West
no longer holds out so great attractions.
The results of the change are already
felt. Money is plentiful all up and down
the State and banks and moneyed men
are at loss to know what to do with
their surplus funds. Some capitalists
are buying Vermont farms, thereby
making demand for them and conse-
quent stffening of prices; others are
ready to put their money into manufac-
turing or into anything else that prom.
ises fair return. The growth of manu-.
featuring has begun, but it must neces.
sarily be slow. Causes over which Yer.
monters had no control, and, from the
nature of the case, could have none, have
worked to bring back within our border:
much money which properly belonged
here, but which other causes had tempo
rarily taken away. But, now that it i:
here and awaiting employment, it mus
not be expected that there will be an i'm
mediate and great starting up of manu-
featuring. Capitalists must have time
to get their bearings before going into it
Manufacturing in the modern sense OF
the term is unknown to Nermonters as a
class. \ few of the older ones remember
little about the old ways of doing
things, but that is of no value in the
present contingency. However, y start
is ,making in the right direction ant
the movement will not take long to ge
fully under way.
COUNTY AND VICINITY NOTES.