Los Angeles daily herald., 1884-12-09

There has not been period IN San Fran
cisco IN California since Il became State
10 the United States, nar iu The commercial
world, within the memory Of man. when
there Nssa more sevete pressure IN husi-
ness Affairs than there Is now. And the
look edwards o. not eucaaraflHe Tho
great staples a trade have fallen below
shat have been considered bottom prices
IS heAi is down 60 So luw a figure that 90
produce it or to dent ia " Is more likely 20
result w loss than iu pAoht. To grow " or
to trade ~ Il is alike a risk, with the out.
come upon the debit side. Sugar Is also
doWnto nnremuneratiye prices And manu-
factories aud enterprises are in critical
condition OF money oily rs there a sur
piusaqe. but 80 be utilized u must Dc assured
Of return and profit There are millions
upon millions lyiag idle aud unemployed tn
the banks and ia privstC hands, anxiuus for
safe investment Tor onlg upon aueh terms
eau money be obtained et ratrs which rennv
At the same time the lender and the BOZ.
rover, 80 that security goes wiki use Rates
Of interest have fallen 10 Unprecedented
low rates, and short time loans are made at
merely nominal figures But inYestmeuts
cannot he made at thcte abnormal rates
Capital Is the blood % trade without e in-
dustry and traffic alike Iausi cease Ger the
tine. Aha g . timid baoanse its life Is
peFllous. Loss g death.
The business depression In California. par-
ticnlRrly in San Ffhuciscb, ls notable 81 this
time, compared with thu OF any former
period, hccaust it Is now world wide Fpr,,f,s,
IL suffering IL tn she Essi q IS unpreecdent
oil. Neither the panic ui i837 which was
caused by Imitation AID contraction equally
sudden, nor the pRniCs which hive duce
aucceeded, can be cited as examples i is
gfaceable 20 other eauses VheH hsH been A
revolution % the modes 81 business. The
importer and l0hbef arc no lnzRer p0tcn-
iial. Every merchant is his 0Hn i'm porter.
~ owu l'bhef The .yo'lns generation q
fHUF n
broader Oppouunitles haui given scope and
not always judgment il The enrHent OF
tfadc aud hnanee must baud tn erfcr that
lt shall control, as i always viii r. tbe end
Competition g The He 0f rade o. Eeueral
aspect but lhefe happen OCCASIONS " hen Il
hecomts disastrous in It's tendency. San
Francisco rs COW experiencing this This
p1r has been the chief mart nf the Pacific
Q0nst and the trade Of the r icife It must
siHafs continue 60 bU Tie chief mart:
but % cannot be enc usly ono IL has aup-
piled enc great NarthWcst ana the country
south The Narthefn Pacific Railroad has
inierposed TO take away iae vNunbIu trade
of oregon. of taHHa Euu " Washington terrf,
gQries Che exclusion ol iha ia iflad agsfrm
Whlph fifQs thfHHEF lpuurclifHf1 the East
hg lne s1n,hefa fuutcs, hm dpened the way
g rivalry in treae from hat section OF mo
country Son Francisco is psidculariy a.
sailed from both directions Tier Easffi6g b.
impregnable within her own aLlte. bnt il h
within ihis State TINT She must iqnk for her
trade and support The Northwest hiss lr-
fevucably gone rhe competition Tor the
Trade of the Southern section ami Of Arizona
Is very gtrainlne and part of thrust ineVit
ably be Lost. OIL eli snat has beeb dni1vcl
from oregon. only tho trade tlGt ean be
reached by the California ans oregon Raj
road, when completed csn be recovered
Win All thts punishment OF the trade
W1ich San Francisco Formerly Possessed,
there "a, Of course. D mlicgisi dte-asse t'
the volume u business Those engaged L.
it must accommodate tlrfNae HcH 70 the Nitu.