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1871 August 15 Letter to Randolph R. Rutherford

Title

1871 August 15 Letter to Randolph R. Rutherford

Description

Brigham Young counsels on Utah's banking prospects amidst growing competition. He highlights the capital requirements for the Utah railroad project.

Type

Correpondence

Sender

Brigham Young

Recipient

Randolph R. Rutherfor

Date

1871 August 15

Location

Baltimore, Maryland

Subject

Business Matters
Financial
Railroad

Salt Lake City, U. T.
August 15, 1871.

Randolph R. Rutherford, Esqr.
Box 1164. Baltimore, Md.

Dear Sir:

Yours without date for information as to the feasibility & probable remunerative results of carrying a banking capital to this city has been received. There are 4 banking houses established here, and prospects of another, and they appear to be doing very well.

I am not prepared to say whether you would succeed, or not, and much prefer that you should investigate the chances of success for yourself.

The rate of money varies here as elsewhere, but I believe, it is never so low as in the eastern States.

Our people are engaged building a Railroad through this Territory and we have invited capitalists to join with us; some of the soundest Railroad men in the country are in the enterprise. We still require capital.

You might consider this matter worthy your attention, if so, we will take pleasure in furnishing you the necessary information.

Yours with respect,

Brigham Young