New study could lead to more tourism with eco­nomic im­pact to the Lit­tle River area

Cherokee County Herald - - SPORTS -

MONT­GOMERY— NPS of­fices. A stage A $ 52,500 grant and am­phithe­ater have an­nounced by Gov. re­cently been added. Robert Bent­ley could It is es­ti­mated that lead to in­creased tour­more than 200,000 peo­ism and ed­u­ca­tional ple visit the canyon op­por­tu­ni­ties in northannu­ally pro­vid­ing an east Alabama. eco­nomic im­pact of

Funds from the $16 mil­lion to the area. Ap­palachian Re­gional Other nearby at­tracCom­mis­sion will be tions in­clude DeSoto used for a fea­si­bil­ity State Park, Weiss Lake study re­lat­ing to the and Chero­kee Rock pos­si­ble ex­pan­sion of Vil­lage all of which the Lit­tle River Canyon are in DeKalb and Cen­ter and ac­tiv­i­ties. Chero­kee coun­ties. The cen­ter is an ed­u­caThe grant is be­ing tion fa­cil­ity and con­fer­ad­min­is­tered by the ence area that is lo­catAlabama Depart­ment ed on the out­skirts of of Eco­nomic and Lit­tle River Canyon, a Com­mu­nity Af­fairs. 23-mile-long river gorge “Tourism and re­catop Look­out Moun­tain. reation are im­por­tant

The cen­ter was sec­tors of Alabama’s built and is op­er­ated econ­omy,” ADECA by Jack­sonville State Direc­tor Jim Byard Jr. Univer­sity while the said. “I com­mend JSU canyon is man­aged for rec­og­niz­ing Lit­tle by the Na­tional Park River Canyon as someSer­vice. The study thing special and be­ing will de­ter­mine if an will­ing to in­vest in ex­panded cen­ter and the area with so many added ac­tiv­i­ties have ed­u­ca­tional and recrethe po­ten­tial to bring in ational op­por­tu­ni­ties.” more vis­i­tors for longer ARC is an econom­du­ra­tions. ic de­vel­op­ment agency

“The canyon cenof the fed­eral gov­ern­ter and the ed­u­ca­tion­ment and 13 state go­val pro­grams it of­fers ern­ments. The agency’s en­hances the splen­dor mis­sion is to in­no­vate, of Lit­tle River Canyon,” part­ner, and in­vest Bent­ley said. “I am to build com­mu­nity pleased to have a role ca­pac­ity and strengthin this project that will en eco­nomic growth in help re­veal the area’s Ap­palachia to help the po­ten­tial as an out­door Re­gion achieve so­cioe­d­u­ca­tion and recreeco­nomic par­ity with ation lo­ca­tion.” the na­tion.

JSU opened the ADECA man­ages a 23,000-square-foot cen­range of pro­grams that ter in 2008 from which sup­port law en­for­ceit holds field schools ment, eco­nomic de­ve­land con­ducts na­ture op­ment, re­cre­ation, pro­grams re­lat­ing to en­ergy con­ser­va­tion north­east Alabama and and water re­source Lit­tle River Canyon. man­age­ment. The fa­cil­ity also serves Bent­ley no­ti­fied as a vis­i­tor’s cen­ter, JSU Pres­i­dent Dr. John has an ex­hibit area and Beehler that the grant gift shop and houses had been ap­proved. Amer­i­can work­place, cen­tral­ized fed­eral power vs. states’ rights, and deal­ing with the na­tional debt.

Thomas Jef­fer­son spent his child­hood on a Vir­ginia plan­ta­tion, and this in­flu­enced his vi­sion of Amer­ica’s fu­ture as a bur­geon­ing agrar­ian democ­racy. Alexan­der Hamil­ton, whose up­bring­ing in­volved com­merce, be­lieved that pop­u­la­tion and power and money would even­tu­ally be con­cen­trated in ur­ban re­gions, a world­view that ul­ti­mately proved more ac­cu­rate.

Hamil­ton is­sued fed­eral se­cu­rity bonds to in­vestors to pay off debts in­curred by in­di­vid­ual states dur­ing the Rev­o­lu­tion­ary War, an act that served to unify the new na­tion both po­lit­i­cally and eco­nom­i­cally. He was pri­mar­ily re­spon­si­ble for cre­at­ing our cen­tral­ized cur­rency and our na­tional bank. And he fore­saw the im­por­tance of in­ter­na­tional trade and the value of credit.

Hamil­ton was born in the Caribbean. A Scot­tish trader, Hamil­ton’s fa­ther left the fam­ily. Or­phaned at age 11, when his mother died, Hamil­ton went to work as an ac­coun­tant ( hard to be­lieve, but true) for a mer­can­tile com­pany in St. Croix. The is­land was linked through trade with Europe, Africa, and the Amer­i­can colonies, so Hamil­ton’s for­ma­tive business ex­pe­ri­ence in­volved in­ter­na­tional ex­change. His em­ployer and other towns­peo­ple pooled money to send him to study in Amer­ica in 1773, when he was only 16, but he re­mained for only a year at King’s Col­lege in New York (later to be­come Columbia Univer­sity).

In 1774 he wrote a trea­tise sup­port­ing the colo­nial rev­o­lu­tion. Shortly there­after he left school and joined the New York Pro­vin­cial Ar­tillery Com­pany. He served the Con­ti­nen­tal Army for five years; was pro­moted to Lieu­tenant Colonel; be­came Ge­orge Wash­ing­ton’s aide- de­camp and wrote many of Wash­ing­ton’s per­sonal letters; and mar­ried a woman of New York so­ci­ety named El­iz­a­beth Schuyler. Hamil­ton pe­ti­tioned Wash­ing­ton to be al­lowed to lead a charge at York­town, Vir­ginia in 1781, the vic­tory that be­came the tip­ping point re­sult­ing in the Bri­tish sur­ren­der.

It was an aus­pi­cious im­mi­grant’s be­gin­ning, but Hamil­ton was just get­ting started.

Next week: Hamil­ton’s adult years and the rise of the Amer­i­can econ­omy.

Mar­garet R. McDow­ell, ChFC , AIF , au­thor of the syn­di­cated eco­nomic col­umn “Ar­bor Out­look”, is the founder of Ar­bor Wealth Man­age­ment, LLC, (850.608.6121~www. ar­bor­wealth. net), a fee- only Regis­tered In­vest­ment Ad­vi­sory Firm lo­cated near Destin, FL. This col­umn should not be con­sid­ered per­son­al­ized in­vest­ment ad­vice and pro­vides no as­sur­ance that any spe­cific strat­egy or in­vest­ment will be suit­able or prof­itable for an in­vestor.

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