Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-07-30
p,u,rC SPIRIT AS CAPITAL

pTuyIC SPIRIT As CAPITAL
There may be no DOUBT that II Is wise
uollcv 10 invite outside capital to'assis'
ne in building up Industrial enterprises
hut Il is very unwise policy TO SIT down
fold our hands. and do nothing whiie
MO are waiting for outside capital 10 nc
cent the invitation. We do not uhue'-
rate the value OF money III 'ne
matter OF starting ana Dullu'ns
I'M enterprises. but there IS an
other kind Of capital just as essential 10
,bat contamination. This capital IS rep
resented by public spirit energy IN
dustry. confidence, and cooperation. In
deed. II is n question whether the great
value attached TO monetary capital III
connection with inaugurating manuiac-
turing enterprises especially, has not been
n serious drawback TO industrial. deveiop-
ment. II Is also a question Whether
with rare exceptions, the starting OF en-
terprises on the large scale aDuhaah'
copital renders possible IS advisable. we
know that the answer 10 this will be thdt
lNTEGl
plcte the plant the cheaper the prouuo'
can be manufactured. But it Is oisen INC
CAGE that the larger the plant the greater
the Ieaks. the greater the extravaganza
aud The less the disposition or the apiIi'y
~ economize in little things, unless
the plant mas reached large proper
lions through a process Of development
often ready-made plants-plants coin-
,oo,ced ON a big scale-have failed. where
o,tornrises that grew and expanded INTO
great industries from small beginnings
have proved notably successful, and be-
come permanently established.
Some of the most successful enterprises
in Richmond had very insignificant be-
,,,,rinqs Two OF them, which we nap
pen TO recall, are worthy of particular
mention. The one started with about
y5O worth of stock and 80 cents III
each capital. When the other was start
cd the entire outfit could have been put
into q room Is feet square. Now po'h
enterprises have thousands Of dollars III
bindings and machinery alone ana
abundant capital. the latter being maze
I'D OF accretions from proiits' Ihere
arc other cases Of the same sort
in Richmond, and in each case success
has. in great measure, been due TO eN-
perience acquired in the gradual develop
ment of the enterprise, and when coulu
not have been acquired otherwise
As Richmonds upbuiidlng must depend
largely upon local industries. our people
would do well to ponder the examples we
have cited. What has been done in the
wav of developing small industries into
iarge and successful ones can be done
AGAIN. The way TO begin in this matter
e TO begin. If we will put our nome
capital OF money, energy, enterprise
brain. Drawn, and confidence into sflan
and diversified industries. and our mer-
chants will make it a rule TO cooperate
with these industries by handling, as far
nc nossible. their products our word
for II that It will not be many years
ere Richmond will take front rank as
manufacturing centre. Her manutactur-
inc DEVELOPMENT will also mean her gene
raj business development. Furthermore
II will bring her into closer and more
cordial relations with the people Of the
state at large, through reciprocity, III
the sense that she will not only become
their supply market for manufactured
and other articles. but a consuming
market for their raw material as we'll
In this connection it might also be well
for those who are waiting for outside
capital TO remember that capital IS not
disposed TO help those who do not snow
a DISPOSITION to help themselves.
demonstration Of our own confidence in
Richmonds future as a manufacturing
centre and an exhibition of energy and
enterprise I'm the direction Of founding
industrial enterprises on our own account
will prove 20 outside capital greater
magnet than any amount of argument
regarding our advantages as field for
investment that could be adduced If
the scheme for "electrifying" James river
materializes, as we hope and believe It
willard that is a scheme in which large
financia. backing IS absolutely neces-
SAVIOUR people will have an additional
reason for seeking to demonstrate that
public spirit is also capital.