SIGNIFICANCE OF BANKING SITUATION IN COLORADO 53 



What is here said was more true of the population of Colorado in the 

 early days than is the case now. Yet the effects of this early period 

 have not been entirely obliterated from the population of today. 



Such in a general way are the characteristics of our population. It 

 is well that we have this kind of a population for just these qualities are 

 still very largely needed to develop the magnificent possibilities of this 

 state. We have hardly done more than make a beginning in the develop- 

 ment of the resources here. A glance at the industrial map of the state 

 shows that agriculture has been developed in but few sections. Its 

 possibilities are vast. Improved processes in mining will greatly increase 

 that industry. We need more railroads to open up some of the most 

 fruitful sections of the state. And in manufactures why must we be 

 dependent upon goods made in the eastern states ? There seems to be 

 no good reason why manufactures of all kinds should not develop in the 

 state of Colorado. There is reason to hope that in the future even in 

 spite of the discriminating railroad rates a great multitude of manu- 

 facturing concerns will make their homes on our soil. 



Now what are some of the fundamental needs for the development 

 of the possibilities of our state? We need an aggressive population. 

 This we do not need to worry about. The kind of immigrants who 

 come here will be men of enterprise. As a rule we are not likely to get 

 a poor class of men to undertake the management of the industries. 

 In industrial efficiency our population is now superior to that of many 

 states, and there is reason to believe that the newcomers will not be 

 inferior. 



We need capital. This will come in the course of time. The higher 

 rates of interest, the growth of sound credit, and the minimizing of the 

 element of risk will bring in capital in abundance from other states. 

 Among these the growth of sound credit and confidence is of very great 

 importance. 



Modern industry demands more credit and confidence than were 

 needed in the earlier times. There has been a great increase in co-opera- 

 tion, specialization and division of labor. There is more interde- 

 pendence in the modern world. Our water supply no longer comes 

 from our own well ; our meat is canned in a distant city. We are co-oper- 



