OK, Patrick, you had a column June 1 that makes a lot of sense on how to generate more taxes which I know this county needs.
If you and your family get run out of town because of your suggestions, Pearl and I will try and take you and your family in. You will be safe down here. It’s a rare occasion when politicians cross Highway 10.
I would like to try and give all your readers a short lesson in economics.
Many years ago I met a banker who, to this day, no other banker stands half as tall in my eyes. He formed a bank in 1974 and opened for business in late 1974. The first full year, he turned a profit. There were several hundred people that either wanted to buy more stock or their first stock.
He never knew while he was doing his thing, I was doing my thing.
I told him last year what I had done. I dribbled out stock for sale and he did his thing as only he could and we gave the original stock holders 15 percent increase in 15 years. I knew as every one else did that he was the king of kings in the banking world.
He never knew what I was doing, driving the stock up in value.
We had not been in direct contact for about 20 years. I stopped to see him last year in Vegas - possibly the last time we will see the other. I felt all these years I needed to tell him.
We built one back across the driveway from a Bank of America. I asked him, “Dale, why across a driveway from a branch Bank of America?”
And in his soft voice he said, “That’s where the money is.”
He took money from lots of banks. It worked. He told me one time, “Comer, we loan money to home buyers and car buyers - a lot of things we don’t want to foreclose on anyone. We just want those people to pay the money back with interest. That’s all. We love compensation.”
It’s better to have hundreds or thousands of people to do business with. Let me use you column to illustrate my point, Patrick.
You say that Barbour County has 28,000 residents. If you had $100,000 and gave it to 10 people, there’s a very good possibility it would produce no more than 20 or 30 purchases. But you give the equal amount to 28,000 people and it would be spent a thousand different ways. And it would trickle up just as if you planted a garden. Did you ever see a plant grow deeper than you planted the seed?
I was a meat cutter for more than 35 years. My specialty was taking a business that was lagging and turning it into a very profitable business. I couldn’t count and be accurate of stores in those years.
When I walk into a market, gross sales increased no less than 2 percent a week. If money is hoarded, no one benefits but the elite.