1872 July 29 Letter to Homer Duncan

Title

1872 July 29 Letter to Homer Duncan

Description

Local iron making lacks capital and confidence, Brigham welcomes foreign investors, and warns a 60-horsepower engine may soon be sold.

Type

Correspondence

Sender

Brigham Young

Recipient

Homer Duncan

Date

1872 July 29

Location

Cedar City, Utah
Salt Lake City, Utah

Subject

Manufacturing
Business Matters

S.L. City, July 29 / 72.

Mr. Homer Duncan
Cedar City.

Dear Bro:

Yours of the 15th inst. has been received. It is a matter of great importance to us to have iron manufactured in this Territory, and if we could supply it in sufficient quantities to meet our requirements, so much the better. But from the lack of capital, and the apparent want of confidence in the enterprise as exhibited by our home capitalists, it is very doubtful whether you will be able to succeed of yourselves.

If foreign capitalists and men of thorough experience wish to come here and invest their labors and their means, they certainly have the right, and if successful in inaugurating a large iron trade it would be a good thing; and when it shall have been demonstrated that iron can be produced here in sufficient quantities, and at such rates as to make it a profitable business, the brethren will doubtless feel encouraged then to take hold and do likewise, and there is room enough for all.

Your Bro. in the Gospel
Brigham Young

P.S. I was in hopes you would have returned after our last interview, as there was a 60 horse power engine, we were looking at with a view to your works, but it has since been disposed of at any day.

B.Y.