The Southwestern Historical Quarterly, Volume 71, July 1967 - April, 1968 Page: 25
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Broker to the British: Francis Smith and Company
Company accomplished the most amazing feat of all, long-term sur-
vival. Indeed, Francis Smith's successor, H. P. Drought and Company,
still serve their customers in San Antonio.
In retrospect, the obvious major contribution of Francis Smith and
Company was the furnishing of capital to an economically starved
and underdeveloped region. Francis Smith was being only partly ego-
centrically grandiloquent when he titled his essay, "The Revival of
the South Due to Foreign Money." How quickly it had all transpired,
although British dreams and investment continued to linger on long
after the turn of the century. In 1923, as if remembering the fantasies
of his youth, one Scottish investor recalled to his American associate:
I am sure you will believe me when I say I do now and have always
served Ashly out of chivalrous and monetary motives. They [the di-
rectors of the Alliance Trust] say they will do something big for me
when our ship comes home and crosses the bar, but when will she do
that and where shall I be then?"
"McKenzie to Bolton Smith, November 29, 1923, Carlile Bolton-Smith Collection.
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Texas State Historical Association. The Southwestern Historical Quarterly, Volume 71, July 1967 - April, 1968, periodical, 1968; Austin, Texas. (texashistory.unt.edu/ark:/67531/metapth117145/m1/43/: accessed August 23, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting Texas State Historical Association.