The times. [volume] (Richmond, Va.) 1890-1903, 1897-01-05

10 Richmond 10 invest in home enter
prise. he naturally wants to see some
homo money. lie wants the Kichmond
pcople 10 show their faith by their IN
vos,ments. We believe that with small
nucleus Of capital at home II viii be
easy during the year 1891 20 gather about
n sufficient means from the outside 10 ac-
oomplish the enterprise contemplated and
that we believe. Is the best and surest
means OF building up new industries In
this community.
Sull another mistake, which we think
has been mado. is that our moneyed men
invest too much OF their money in new
buildings ana in property which does not
give employment to labor. The new
buildings are al right. II there Is demand
for thcm. but II SIS mistake TO erect
buildings I'm advance Of the demand and
so lock mp capital that might be employ
cd I'm such a way as TO enhance the de-
mand for Buildings In short. We have
too much dead capital. and not enough
omploycd I'm the activities Of Industrial
lie.
So much for the mistakes, all Of which
may be easily corrected. We can see
no reason whatever why Richmond should
not during the year 1871 set on foot many
new industries. some small. some largo.
which shall be profitable in themselves
and which shall be profitable to the COM
munuy at large by putting the unem-
plovod 10 work and giving them the
means 10 buy goods and rent homes.
There IS nothing I'm the way Of prosperity.
il is true that our system OF currency
needs reforming but in spite Of its de-
fects. there IS an abundance Of money
with which 10 carry on industries and IT
Will respond to tho invitation Of profitable
investment. If people will only quit cry
ing hard times and turn their attention
to business. we can soon have business
revival in this city such as it has not
known for many years.
The three things that command our at
tention and offer the greatest induce
mcnts for 1897. are the Chesapeake and
Ohio viaduct the development OF water
power and the erection Of cotton mills.
First. as to the Chesapeake and Ohio
work The business men Of Richmond
and Manchester ought to confer together
through their respective business organ
izations. their councils. or through public
meetings and arrive at some plan by
which the way may be opened for this
work TO proceed We know Of no one
thing at this time of such supreme inn
portance. When once this worl, has been
fairly begun. il Will be q stimulus TO the
whole community and will be an excel
lent advertisement which viii attract
other enterprises.
After conference time and again with
those who have investigated tho subject
we are confident that the water power
here may Doe largely increased by a COM
blnation Of the forces. or by developing
a now power farther up the river TO be
brought to the city by the means Of cleo
tricitv. A Richmond expert who has been
engaged in such enterprises for some
time past. tells us that he has now en-
gagged 10 transmit electricity from water
power I'm one Of the Southern States for a
distance of seventeen miles, the samo TO
be used in operating a cotton factory.
The factory SIS already in existence and
is now using steam. but win discard st IL
favor of electricity as motive power
This water power was unavailable until
the modern use Of electricity was dis
covered
As 10 cotton factories we arc amazed
that Richmond has not long before THIS
engaged in that industry So far as we
can learn. all the cotton mills in the
South are i'm nourlshing condition and
paving enormous dividends True. Rich
mond is not so near the cotton fields "a
the cities to the south Of us, but to all
intcnts and purposes it Is quite as near
as Danviue and no mills i'm the South
have been more profitable than the Dam
vile mills