The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1916-01-27
ANNUAL BANQUET OF
yERNONTERS AT BOSTON
Governor Gates and James HARNESS
Among the Speakers

Al the annual banqNet oI Wv" WI
mont Association Of Boston, held at
the Hotel Vendome on SATURDAY eve
ming January 22nd, besides Cover
nor Mccall ana Lieutenant Governor
Coolidge Of Massachusetts, there
were present Governor Gates Of Yer
mont and many notable Nermonters.
Governor Gates brought the greet
ings Of he Green Mountain state 70
the assembly. and was followed BY
Hon James Hartness of Spr nG3eli,
Vermont. chairman State Boatd o.
Education
Mr. Harness said in part ,oiae
10 speak 20 YOU Of new Vermont
a modern Vermont that IS nov N h'
making. Il will combine the spl'n.
did characteristics Of The past and
present with possibilities in tie id-
ture that will make our state a le|i.
ar in the essential things, aere
has never been time IN the history
OF Vermont when so many eea6nt"
were favorable TO such a growth. MY
life has been spent IN the INDUS
tries. In this experience ! have had
an opportunity TO know first hAnd
how the workman thinks aud feels
have observed the difference that
exists between the various sectio
of this country and abroad with spe'
cial attention directed at the Geftl-
opmeal and growth OF the industrle
OF Germany. During all this time !
have been actively connected with
Vermont organization, and as re
suit | see the great opportunity to'
the Vermonter
This is an age of mechanism,
invention and machinery. The gold
fields of today are right here in nc
industrial states, where there Is
spirit of invocation. of constructiv
achievement and co ordination o. ef
forts
The Vermonter is in his natura
element in the world Of mechanism
and is bound 10 succeed. The stat
needs him the other pursuits are
dependent on him and his old homt
without chance to work.
An Industry of the right kind 10
Gated in each town, changes tia
place from a center where the farm
ers trade with each other TO on
where The farmer sells to those who
are bringing IN ready money froA
other states and other countries. il.
finds this new center one in which
he can find remuneratiye work fo
himself and sons, and if his farm
is within few miles he can continue
to live in his own home.
Under the influence of the pros
perty of this center he receives bel
ter prices for his products and lhers
| Is a greater demand for farm land.
| These two conditions enrich him b!
! doubling the values of farm prop
erty.
We must not impede our agrlcul
tural development. The same scien
tific and aggressive push must con
tinue and with it we must devote the
same kind Of energy o the esta0
nshment of more industrial centers.
For examples of industrial deyel
| opment in Vermont let me mention
the towns of Springfield and Windsor
which are enjoying a wholesome IN
dustral growth in the manuiacturc
of metal working machinery. Thi;
industry Is known as the Machine
Tool Industry and embraces the man
ufacture Of lathes The machine too.
building plants OF Springfield ano
Windsor have grown from single
root that started sixty years ago ~
Windsor. 1t was not very sturd,
plant during the first forty years,
II remained very small organza
ton without great change till abou'
twenty five years ago, when IT was
transferred to the neighborng town
Of Springfield and commenced tt
grow. At that time it had capita
of only sixty thousand dollars. which
BY the most liberal inventory WI
500 larger than its net assets. This
companys stock sells at a price that
| Ndlut ONti my tii''f
the original mentioned. This has
been accomplished without the use
of new capital. and while running
under general policy OF paving one
half the earnings in dividends.
The plant at Windsor, according
TO press reports. has recently changed
ownership on a basis of valuation
Of three and one half millions, and
although, in The course of its growth
il has taken outside capital, it has
accomplished its growth by shorter
process than the parent Springfield
company
The increase in men engaged In
the machine tool industry in the two
towns has nearly equalled the in
crease In capital for there are nov
between twenty-five hundred and
three thousand men