The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-06-14
SOME SOBER THOUGHTS
FOR s0UTHERND|GEsT|0N
Man Who Commands Much Money
for Industrial Development
Shows Some Disgust.
GIVES REASONS FOR HIS TALK
Sound Advice and Suggestions Worth
Considering From Veteran Indus
trial Journalist, Who Speaks in
Plain Language.

a we'll known Eastern hnancicr who
has. so 1t Is said, been instrumental
In placing something moro than sao.-
100000 In the South for developmcntal
purposes. has retired from that kind
of business, and in Il private letter
To tie editor of the Manufacturers
Record, gives his reasons therefor. In
this letter, which was not written for
publication, he says:
~ have been a firm believer I'm the
future OF the South, but do not like
the way that some OF the. Southern
people use Northern money when they
get hold of it. L think they make a
mistake. and the treatment some of
my friends have received lin certain
sections is such that am somewhat
reluctant to advise any.'rmorc going
into the South until some OF tho peo-
pie realize the mistakosthey are MAX
ing. l have, therefore,, for the past
year turned my attention to other
fields. much rs l regret doing so.
You will understand that new money
going into new and untried ventures
commands premium, because there is
an element OF risk connected with same
that Is not present In solid worked
out undertakings like railroad and
other matured bonds, and that money
OF that kind cannot and will not go
where people think that 5 per cent Is
all they should have for it. If invest
mcnt money for new UNDERTAKINGS is
turned TO other channels than the
South for the next few years. the South
Will have themselves to blame for it,"
THE WRONG SPIRIT SHOWS
VI Al WRONG: TIME
The editor of the Record. after Civ
ing the above abstract from the let
ter, makes comment which is worth the
consideration OF every man who has
lao Il.
of the Industrial South. l am giving
this comment Just as | find 1t in the
Record. Here 1t Is:
This letter, not intended for pub
lication, written purely as matter of
information to the Manufacturers Rec
ord as an explanation tof why the
writer of it is not actively intereste cd
in developing Southern enterprises,
should be given careful study. Great
as are the resources of the South linn
itless as are it's possibilities, they will
remain undcyclopcd and unutilized un-
less touched by the wand of capital,
and the South needs. and needs badly.
larger investments Of capital from the
outside than II has ever had.
Last week the Manufacturers Rec
ord emphasized the responsibility
which rests upon the bankers and
other who have financed the great ny
dro-electric developments, in the South
10 luke an active part III the DrOaucGt
upbuilding of this section. 1t was
pointed out that they owe IL TO them
selves, to their clients and to the South
to he active. vigorous factors in mai =
ing known TO the world the great re-
sources OF this region.
There is, however. another side TO
the story, and it Is worth careful con
sidcration on the part OF the people
of the South. The South owes it to
itself and to the men who have risked
these hundreds Of millions of dollars
In this section To see that every pos
sible protection and safeguard Is az
fordcd to the money and to the work
OF the men who have done such mag
nificent things In creating these hy-
dro electric developments,
ONE IRDN;NESr CASE
by WAY OF ILLUSTRATION
Ecrc and there is tc bc found in the
South spirit which We believe is not
iourd TO the same extent in the newer
and more rapidly developing sections
Of the West and the Pacific Coast This
is she spirit Of antagonism and crit
;ciSm which once In q while dcvclops
against the men or the corporations
putting money into great enterprises
in the South. Occasionally some dis
gruntlcd man, or some one seeking per-
sonal ends which may not be In har-
mony with the best interests of tho
community. will get pnp an agitation
against an outside dSicern. and the
substantial men oS tho community who
ought to rally to the support OF all
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