The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-04-23
A PRACrIcAL MISSION.

I
The forty representative business men
of New York now in Texas on the invita-
! ton of the Legislature of that state are
on a practical mission. They win visit
many localities with the view of learning
what the agricultural and mineral inter-
ests and industrial prospects of the state
are, with the view of turning Northern
capital into that part Of the South. Most
of the money OF New York investors,
which is invested outside of that city, is
in the Western states and the states of
the Pacific slope The opportunities which
the South presents for investment have
been overlooked in a great measure. This
fact was called to the attention of repre-
sentative New York men last winter by
the committee of Texans who visited New
York for the purpose of thanking the peo-
pie of that city for their generosity to the
Galveston sufferers At that time the plan
was formed TO visit Texas and see what
could be done towards placing Northern
capital there.
One thing, and very important one,
that the New Workers have in view, is to
find out whether public sentiment in
Texas upholds the drastic legislation in
that state against corporations. II it
does, it is certain that there will be very
little Northern capital invested there. If
it does not, Northern money may be freely
invested in Texas and doubtless other
Southern states.
AS the New Workers are the guests of
the state, and will come into contact with
the members Of the Legislature, it is to
be presumed that the antitrust legisla-
ton, for which Texas has been conspicu-
Gus, will be thoroughly discussed.
What is meant can be better understood
by a condition of affairs that now ex-
lists in the newly discovered Oil section of
Texas. In order to get the best results
from the oil discovery it is necessary to
have pipe line to tide water. Otherwise
the oil cannot be marketed to advantage.
To build such a line would require the
expenditure of millions of dollars. But,
owing to the hostility of the Legislature
10 corporations, and the laws which have
been enacted against trusts capital for
pipe line cannot be had. 1t is claimed that
capital could be had for many enterprises
in Texas If the laws were more liberal
towards corporations.
The day of small enterprises appears TO
be past in this country. Great corpora
lions are necessary to compete with the
great corporations already in existence-at
least, that is the position taken by the
representative New Workers now In Tex
as. Their mission is therefore an intense
ly practical one. If the Texans want
Northern capital invested in their state,
and employed in the development of their
states resources, there must be some sort
of guarantee that corporal lions will receive
liberal treatment from the Legislature.
They will receive such treatment If the
people are in favor of it. Whether or not
the people are in favor of ii the New
Workers expect to find out before they
leave the state
Very few realize the amount of money
that goes TO New York and New Eng
land cities every year from the South.
Not only are millions of dollars sent there
for merchandise, but many other millions
go there for life and fire insurance; and
still other millions in New York Stock Elk
change and Cotton Exchange margins.
This money has to be invested some
where. The most of it ought to be sent
back to the South for investment.