The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1882-05-13
TIE OUTLOOK.

as regards industry OeVelOpment
and prosperity. 1t is just such a
feeling which if it continues a few
months will bring "hard times" 1t
is also wiIfuI blindness to fail to see
the cause for the gloom that is fast
overspreading the city and Terri
tory. The late congressional legis-
lation is the source to which the
trouble may be traced without fol-
lowing any devious paths. 1t first
put sudden stop to the advance of
two railroads. In itself this circum-
stance was important, as withhold
ing large sum ofmoney that would
have been in circulation here during
the year, and as checking the mate
rial development Of other industries
dependendant on the competition
of the roads. But the "consequen-
tial damages" in this instance are
greater than the direct. The Union
Pacific Railway is the chief corpora
ton operating in Utah. 1t has mil
lions invested here, and up to the
present time has been steadily adding
to its vast possessions and charging
its investment. It is friendly to the
people who are in turn friendly to
it. There are close business con-
nections between Utah men and
Union Pacific people, and the rela-
lions and associations are harmoni-
Gus and of a cordial and pleasant
character. But the railway people
became alarmed when Congress be-
gan seriously the work Of "revolu-
tionizing" Utah. They withheld
their money, and said in effect:
1--WE will do nothing that we can
avoid out there, and go ahead with
nothing that can be stopped without
great loss to ourselves" The result
of that determination is already
well understood. Nobody has a
right to blame the railroad people
The money is theirs to invest here
or elsewhere, or put in strong boxes.
Anyone may have ideas different
from those of the railroad builders
as to the probable value of the in
vestment, but those ideas do not
count with the man who holds the
purse. The Union Pacific people
were just enough alarmed at the
prospect to keep them from
putting more money into Utah rail-
roads: and that circumstance will
naturally have the effect upon other
capitalists to make them hold on to
their funds until they see how
things are going to run here. Peo-
pie are already saying if the Union
Pacific is afraid of Utah, others
have good cause for alarm. We be-
lieve this is all wrong; that Utah is
as safe a place as ever for
investment, and that there is no &C.
casion for fear. But the belief of
one cannot give confidence to the
timid ca pital of another. All rea-
aliZe that u tab must suffer indus
trially from the unwise, not to say
senseless legislation by Congress.
At the same time the. peoples them
selves, and especially the business
men. can lessen the evil if they
will. There is going to be no re-
belliOn in Utah, nor will there
be a he gira. All this talk
that is creeping into the papers east
and west, this discussion of prob
abilities and possibilities is simply
nonsense. 1t is bosh to suggest that
anybody is going to do any fighting
that will disturb values, or that
there is going to be any fleeing.
Things are going along about as
they have been. We do not antic-
ipate any great changes, and cert
ainly do not look for a revolution
If there has been anything in the
past to warrant confidence in the
safety Of Utah, we know Of no
reason and can see1 nothing to pre-
vent the continuance of that conf
dence. There is nothing in the Ed
munds bill that implies the reason
able probability of any but IN
noticeable changes in affairs here.
But if matters are to progress as
they are going, the territory must
suffer financially almost as she
would if there were open rebellion to
the government. Some parties, fol-
inexplicable reasons, are seeking 10
create the impression that fearful
state of things exists here; that life
and property will both be unsafe
here the moment the Edmunds law
is put in force. If we want the
hardest kind of hard times all we
have to do is to let these sensational