The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1888-05-15
A GOOD COLLAPSE.

There is something of gloomy feel
ing among q cert tain class over what they
term the collapse of the BOOM" Some
''optiors" have expired. and the specu-
Iators have lost money, having been I'M
able to fad purchasers for real estate
which they had bargained to buy. A
few real estate agencies have closed,
and the agents gone to other fields. We
have heard OF some of them "cuss-
ing" the town and proclaiming
against the enterprise and go
ahead -ativeness of the people.
Nobody who i. really interested in the
welfare of Salt Lake is complaining
about the collapse Of any boom. On
the contrary, every intelligent man
who has anything at stake here, is
grati6ed by the turn affairs are taking.
Last winter good many people were
alarmed. Folks were going mad.
Prices went beyond all reason, values
not being taken into account by SELLER
or buyer. People were crazy to buy
and TO sell, and the thought OF
actual worth did not seem to
enter their heads. Conservative
thoughtful men looked on in amaze
ment and with apprehension. They
cav that speculation was at the bottom
of four-fiths of the transactions, and
feared that before there came check
to the mania much harm would be
wrought. They knew that there must
come a reckoning, and that the wilder
was the speculation the greater would
bethe trouble when the evening-up pro-
cess set in.
The HERALD regards it as most
fortunate occurrence for Salt Lake that
the senses Of the people returned TO them
before the latter had become more
deeply involved. We esteemit the sub
iect for congratulation that the boom"
in which the spectators took such de-
light had the life squeezed out of 1t be-
fore it had time to work much mischief. |
The collapse, " which some are pleased
to call it, was a most happy thing for
the CITY, inasmuch as it has eliminated
or will eliminate an element in which |
there was no good and much evil. No |
body has been hurt 10 any great ex- |
tent, whereas thres months more OF last |
winters work would nave pauperized
many, and given tbs city black eye in
the estimation Of tae world, from which
in could not have recovered in years
,ateriS il half a dozen real
1t Is Imss'. "anital consisted !
estate agents, whose 60.
almost ex exclusively Of 4!osepips hats
and an unlimited amoaht OF what Is
nopulsrly known as gall" have gone !
to the wall or anywhere else out Of the |
Territory. The solid, Intelligent agents,
who have brains and business
ability back Of them, are notdespondent
because the town is rot oVerrun by |
eastern "tenderfeet who are eager to |
paw three or four prices for town lots
which they do not expect to improve
These cooI-headed agents have no love
for the boom which deprives men OF
their Judgment, and makes temporary
fools of men. only to punish them
severely for their folly.
Salt Lake is making the right kind OF
progress, for it is not boom progress.
Speculation has almost entirely
ceased, and purchases noW-a-days
are largely genuine and for improve
ments. Houses are going up in every
direction, and architects, contractors
builders, mechanics and iaborers are
all busy. It is brick and mortar and
stone boom which is row on, and not
boom which disposes OF worthless land
at outrageous prices. only to have the
BUYERS in a short time turn about and
denounce the sellers, the agents and
the town as swindlers. Our present boom
is putting dollars into Improvements
which will be permane 1t, and will not
collapse If an enthusiastic boomer fails
TO sell lot in time to save his Cop
tion.'
There has been collapse to the
boom which was as unWelcomc as 1t
was dangerous, but there can be no
COLLAPSE to the substantial boom which
one can see on every hand, in the
growing dwelling houses and business
blocks. in The busy and we'll paid work
men, and in the cheerful countenances
of the solid, intelligent citizens.