The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-04-11
THE OPPORTUNITIES NOT LACKING
the with Money Point of Embracing
Them the Field

ti,i people to subscribe for stock. They
merely offer some man with money a
chance to secure a one-third interest In
this business and they guarantee to make
II a success.
asked one OF them why It was that any
capitalist would hesitate to place his money
In such an enterprise. He answered: zone
reason Is because the men with money ~
invest are not inclined to risk anything In
factories, as long as they can get from I
10 10 per cent on money loaned out at In
terest. High interest is always a drawback
to manufacturing development"
A high rate OF interest is indeed a hind
rance to any country. but everything now
indicates that the evil can not be held
against us much longer The day for the
note shaver, the coupon clipper and the
interest maker will soon be at an end, and
as the end draws near money will seek
investment in enterprises like that dis
cussed.
The note shaving and the interest making
is holding on in Texas longer than else
where and Is truly proving great hind
rance to the States development, but IL
is bound 10 go.
~
The interest rate has been knocked TO
smlthereens throughout the North and
East, and that safe and easy method OF
making an income is now at an end nearly
everywhere.
Where the loaning OF money no longer
pays men have been forced into productive
investments. In few years more the
moneyed men of Texas will find that 10
create wealth and to develop they must
help to set in motion the wheels OF prog
ress, They will discover that money can
not make money--that the day for large
incomes merely by interest making is over.
This interest making has always been a
detrlment to the country, and no State can
secure real and lasting progress or sun
stantial growth where high raj OF in
tereSt prevails.
High interest is a sure indication of a
new and undeveloped country. As popu-
lation increases, as cities are developed and
as industries grow and expand, there Is a
keen competition in money aud the inter-
est rate falls.
Today New York and Boston banks are
glad to dispose of their money at and 4
per cent provided the security is safe.
This is the highest possible tribute to the
growth and development of that section OF
the country. 1t shows that Investment in
manufacturing industries has been found
more profitable than any other method of
money making; that the accumulation OF
wealth in the North and East has forced
men into these enterprises that are needed
to employ labor.
In Texas the interest rate is gradually
falling, but it is still SO high as to be a
drawback 90 the State. 1t causes many
men to depend wholly upon this method
OF money making AS long as they are Ger
tain OF per cent, they are content to sit
idly by, and to leave to the more venture
some spirits the chance OF making from
10 TO 10 per cent On manufacturing invest
ments.
But the demand for money at this high
rate is not keeping up with the supply. TIE
banks of Houston and Galveston are today
filed with money that is drawing no inter-
est whatever--that can not be loaned upon
what the banks consider safe collateral
at this high rate OF interest.
There are many millions OF idle capital
In this State.
What will be the result of this? There
will be a much lower interest rate within
the next few years, and furthermore, there
will be a rush to invest money in productive
enterprises. 1t will then be demonstrated
that the money making capacity lies in
the products of the earth, which money
can assist in developing but which it can
not create.
~
In the meantime let those who are not
afraid to risk money worth even s per
cent in an industrial enterprise that with
proper management is sure TO return 10 to
20 per cent, begin to investigate the OPP
portunities for manufacturing development
that are to be seen IN and around Houston.