The Denison review. [volume] (Denison, Iowa) 1867-current, 1911-04-05

terest-bearing money could be devot-
ed to the promotion of manufacturing
enterprises it would create a fund OF
more than one hundred thousand dol
lars. If this money could be loaned
to manufa cturers, either at two per
cent or without interest entirely for
period of ten years, it would amount
to but a very small bonus and would
be richly repaid by increased bust
ness and increased real estate values.
Offering loans Of this character to
be made only upon ample security
would not attract the promoter or the
visionary without cash. The bogus
manufacturer would seek a field
where he could obtain bonus with
out security, but we believe that there
are many reliable manufacturers who
find their business limited by lack OF
capital and who would be glad to To-
cate here if they could obtain the
needed additional money on such
Id V VI dDlc lcl lid.
The Review does not wish to stand
in the way of public improvements OF
any kind, but it believes the year
should not go by without systematic,
we'll organized, we'll financed effort to
secure manufacturing enterprises for
our city. Let us first create business,
and all other things shall be added
unto US.
Let us be thoroughly understood.
We do not favor the giving of bonus
es under any guise whatever to If
Irresponsible parties. If a manufac-
turer receives a loan from the pro-
posed fund of ten thousand dollars, 1t
should mean that he would give Sc
curity good for at least twice that
amount. In other words the loan
should be made under strict banking
conditions, with the exception that the
time should be long and the interest
little, or nothing. If one hundred
thousand dollars could be thus loaned
it would mean the investment of from
two hundred thousand to three hun
dred thousand dollars of outside cap
ital This money would be expended
in real estate, in buildings, in machin-
cry, and no man can say but that the
investment Of this much capital would
almost double our population.
The banks could we'll afford to con-
tribute generously to such a fund.
Practically all the money thus loaned
would remain in their hands as work
ing capital. Further, every manufac-
turer thus attracted would become
either a depositor or borrower, still
further the employees would have
banking accounts of some kind. The
demand for new homes would create
demand for loans, and the money
that went into the channels of trade
would increase the general banking
business. If our three banks should
subscribe twenty thousand dollars
each to such a fund we believe it
would be the best investment they
ever made.
The merchants could we'll afford lib
eral subscriptions, for the wage Garner
is the stores best customer. If a
lars in this fund he would be donating
not to exceed sixty dollars year for
the benefit of manufac curing enter
prise. What merchant is there in
Denison who could not amply afford
this bonus if it meant the investment
of this large sum in manufacturing,
with not less than five hundred added
wage earners.
Owners of real estate could we'll
afford it, for it would mean a rise of
at least fifty per cent in rents and in
property valuation. Carpenters, build
ers and artisans of all kinds could
afford to be liberal with such a fund,
as for them it would mean continu-
Gus and well-paid employment for
years to come.
1t would not cost fifty dollars to try
this experiment. A sufficient fund |
having been guaranteed, advertise
ments to the effect that Denison has |
money to loan for legitimate manufac-
turing enterprises at the most liber-
al terms could be placed in trade pa
pers throughout the country. If there |
were no responses the only expense
would be that of Advertising If there
were responses there would be simply |
the expense of correspondence until |
a satisfactory agreement was reached.
If loan of ten thousand dollars was
effected each subscriber would be
called upon to pay the necessary per-
of his subscription. The Com
mercial club has sufficient funds now
on hand that could be devoted to no
better purpose than to finance the pre-
liminaries of such movement.
We have but reDeatcd above the ont