The Bennington banner. [volume] (Bennington, Vt.) 1858-1894, 1893-07-14
VERMONTs STABILITY.

During the whole course thus far of
the financial stringency through which
the country has been passing it has been
the subject of very general comment,
that Vermont has been affected by the
prevailing business and financial uncer-
tainty to a surprisingly slight degree. 1t
is true that business has been somewhat
curtailed in some directions, but as re-
markable as it may seem not few mer-
chantile houses, trade concerns and man.
ufacturing establishments make the an
nouncement that their business thus far
this year has aggregated more than it
did during the corresponding period
last year.
This is true of Burlington as we'll as
other towns in western Vermont and it
is undoubtedly equally true of all the
principal towns in the State. Banks in
general throughout the State have, of
course, been compelled to move with
unusual caution, but there has not been
single bank failure and comparatively
few business disasters in Vermont since
the present financial stringency began,
which fact is in itself striking, as well as
convincing evidence of the financial and
business stability of our banking insti-
buttons as well as of our business and in
dustrial projects in general.
The general testimony is that business
has not decreased in volume in the aggre-
gate in this State and that the most no
ticeable affect of the stringency is the
increased difficulty of doing cash bust
ness. 1t is known that there is money
enough and to spare in Vermont and if
any doubts this statement it can be fully
verified at any savings institution in the
State, but people are inclined to hold on
to their surplus not only on account of
uncertainty where to place it, but also
in order 10 be prepared to meet any un-
expected emergency which may sudden
ly arise in their own financial affairs. 1t
is true that Vermonters have lost al large
amount of money since the present fl
nancial cloud began to envelope the
country, but it is also true that by far
the greater portion of the money thus
lost was invested outside of the State.
There is gratifyingly large number of
people in Vermont who have money to
invest outside of their regular business,
and because of the lack of visible ready
and convenient means of investing their
surplus at home, they have frequently
been induced to place their capital in
outside projects, entrusting their invest
ments and the security thereof largely to
other hands than their own. And these
are the investors who have suffered to
the greatest extent in this State since
the present scare began.
The absence of opportunity for profit
able investment at home, which led
many to send their money abroad for in
vestment, was only apparent, as many
have since found ont to their complete
satisfaction, but being busily engaged in
business of their own, or not having an
inclination to look about them for such
opportunities, they felt obliged to take
advantage of such means of investment
as were at hand. In view of these facts
it is not impossible that the present f.
nancial stringency may prove to be
blessing in disguise for Vermont; for
there are already indications that the
people of the State are convinced that
they must to large extent depend upon
home investments hereafter. We have
already called attention to a number of
new projects this State which have
undoubtedly grown out of these consid-
erations quite largely and the number
will, without doubt, be considerably
augmented in the near future. Another
result of the present feeling in business
and financial circles will be to make our