The Blackfoot optimist. [volume] (Blackfoot, Idaho) 1907-1918, 1914-03-12

That a general business revival is
near at hand is the opinion of o. M
Carter, prominent in the development
of various parts of Idaho during the
past dozen years. and who has just
returned from New York, Pittsburg.
Chicago and other eastern cities where
he had been in the interest of various
projects. Mr.. Carter was in the re.
cent severe billiards. which have
swept over the east and declares that
it is real joy to again breathe the
balmy air of Idaho where sunshine
and soft mountain breezes make life
entirely worth living Speaking OF
the prospects of eastern money being
induced to come into the west, Mr.
Carter said:
That money is available. in practi.
cally unlimited quantities, for western
development is a fact that cannot be
questioned, but there are conditions
prevailing at this time that make it
almost impossible to get capital re-
leased for use west Of the Rocky
mountains, and especially do these
conditions affect the situation in
Idaho.
Il met representatives of the larg.
est financial institutions in many ,oi
the eastern cities and they are unani.
nous in their desire to release some
of their surplus capital for develop
ment purposes providing there can b.,
established some sort of system,
whereby they may feel that their &C.
curities are worthy and possessed o:
proper integrity.
Plenty Of Money, but
THE president 'of one banking in
stitution--a bank that has between
twenty-five and thirty million dollars
in deposits-in a conversation with
me few days ago stated clearly and
definitely the reasons why Idaho is
experiencing such difficulties in Sc
curing money for her development
This gentleman frankly said that he
desired to make new leans In fact,
he declared, we need to make addi
tional loans as business proposition
and we are anxious to get our money
into action. 1t is real burden OF
expense while lying idle as at the
present time, and We are perfectly
willing that it should go west or any.
where else where there is need fol-
capital, but Idaho is not at presen'
attractive to capital-too many of her
projects have been disastrous to
their financial hackers, and we can
not, from the nature of things, main
tain an investigation staff to deter
mine the integrity of the various en-
dividuals needing financial backing in
the Snake river valley.
Indeed we are willing. to loan you
all the money you need and at fair
rate of interest-say IL per cent
but there must be better protection
than the present opportunities afford.
If your local banks cannot handle the
situation we will gladly let them have
all the money they may require pro
viding the securities are forthcoming
and they in turn can distribute it to
your people; or we will loan it to
your state or the counties and it may
be issued through them to the peo-
pie; but we cannot engage in haphaz
ard distribution of money in newly or
partly developed districts. We can.
not afford to establish personal inves-
legations of our long distance opera
tons as tho expense involved makes
such operations practically phohibi.
tive
"And there Mr.. Carter continued,
you have the situation in a nut shell
This gentleman stated almost the pre-
else position of all the other financial
interests with which l am in touch ant
some of them are large-their re-
sources running into the hundreds of
millions. With all that unemployed
volume of money lying in the vaults
of the east Idaho can scarcely secure
a dollar for the development of her
great, her marvellous resources. 1t
seems to me that this can be remedied
easily if the people will arouse them
selves 10 the conditions and face