The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-05-15
encouraging to cormorant corpora

encouraging 10 cOTIuOIdul CDIpOId-
TONS
In saying this The Herald does not
wish to be understood as opposed to
the promotion of public enterprises or
printable private undertakings. There
are instances when 1t would be for the
good of a city or the State generally if
an industrial establishment Of large
proportions could be secured within its
| borders. The offer of bonus for that
! purpose is all right. But the people or
/ locality to gain the special benefits of
such concern should supply the
means to make up the bonus.
! The example of the city of Columbia,
! South Carolina, in this direction is a
/ good one to follow. Like other south
ern cities. the manufacture of cotton
having been tried and found profitable,
the desire is created to enlarge the in
dustry and to branch out into others.
For this purpose. instead of trying to
get money out of the public treasury
for the promotion Of a private enter
prise, it is proposed to raise $780, by
private subscription of stock on an in
stalment plan.
A board of directors is to be chosen
to manage the investment of the
money, the understanding being that
it is to be used in securing several
small concerns rather than one or two
large ones. AS soon as a few thousand
dollars have beeL paid in, the directors
are expected to make arrangements
with some established manufacturing
firm. either to remove its entire plant
to Columbia or start a branch there.
If neither of these inducements should
succeed, and the enterprise is suf-
ficiently attractive, some experienced
manager may be hired to set UP the
business entirely Independent of the
established houses. Under whatever
management the enterprise is founded.
the Columbia board of directors will
constitute the practical head of affairs.
Their attention, moreover, will not be
confined to one concern. but will in
clude several. as many, in fact. as the
capital stock will warrant
The economy of the plan lies in CIV
ing the management of a large capital,
sufficient to supply several industries,
into the hands of a single corporation
which has the interest of the COM
munity at heart, and it is believed
that public-spirited men Of experience
and ability can be induced to give
part of their time to the management
of these enterprises without demand
ing very large returns for their sur
vices.
Without fully endorsing all the de-
tails of the Columbia plan, the main
idea is correct. Let the public treas
ury alone. Expend public funds sole
ly for public uses. Don't tax people in
a remote part of the State to promote
an industry for the special benefit of
people in another locality. If the es-
tabhshment of some industry will be
for the general benefit Of people in a
city or county. and they choose to pay
money or give land or offer other in
ducements for its erection, let them
furnish the means voluntarily. but not
divert public funds raised by taxation
for public uses to fatten a private
enterprise.
The Columbia scheme is worth con-
sidering. 1t would if carried out &C
cording to the intent apparent. unite
the people of a city by a common
financial interest, and encourage the
establishment of new industries which,
after being well started, could become
self-sustaining and of general benefit
to the adjacent community. 1t beats
the bounty business hollow.