Los Angeles daily herald., 1888-03-07
ssonce rroru 0In.. Houses.

No one has ever doubted that. The
trouble has been that he has created
fictitious opportunities, and that
thousands must suffer, are suffering
now in consequence OF the down
grade of the speculative market hay
ing been reached in Los Angeles. In
the common sense view Of the matter,
the dullest can understand that the
town lot schemes of the clos Auge-
les real estate man" will require a
population of million in Or
der to fulfill the promise OF oc-
cupancy with which these spectators
have deluded the people. Natural
rise in values, honest development,
uninfated prosperity = these none
will decry; but when it is undeniable
that the lots outnumber the capacity
of the population to occupy and i'm
prove hundred to one, it is evident
that speculation must grow weary oi
waiting for the day of promise, and
turn back to realize upon itself. Then
retrogression sets in. That must he
the outcome in every place doomed
an inch in advance of its commercial
and industrial development.-[Sacra-
mento Record Union.
In the same issue of our most es-
teemed Sacramento contemporary
from which the above is taken ap-
pears similarly garbled quotation
from oursel yes, which makes us say
badly, "Climate is the basis of all
our claims of superiority"
And our neighbor of the north is
very sensitive as to having "odious
comparisons instituted by any
journal in this section, whereby his
own comes off second best. This being
SO he should be careful not to pro-
woke these comparisons. He is
bright and apt in his defense
of the section to whose interests
he devotes his energies, but any
com mparison called out between the
two parts of the State can not fail to
result most disastrously to his
cause. No orator, were he of the
stamp and eloquence of Brutus. him
self, can take up such a losing game
and win. 1t is not in the cards that
he should. Who so we'll as a Sacra-
me ntan could preach from such a
text as this: "It is evident that spec
ulation must grow weary of waiting
for the day Of promise, and turn hack
to realize upon itselfW How touch
ing the reflection "Then retrogres-
sion sets in. That must be the out.
come in any place doomed an inch
in advance of its commercial and in
dustrial Development"
Th at is true-most true. "Pity it's,
it's true; and true tits, It's pity" 1t
has been as true as pitiful for 10 !
these many years. In the early ages
OF the world some colonists came to
the eastern shores of the Bosphorus
and founded the city of Chalcedon.
Later came a more wise party and
crossing the strait founded the city of
Byzantium, now known as Constant
inople. The latter grew apace on the
beautiful bay around what is now
called the Golden HON. The city on
the wrong side of the Dardanelles
dragged out sickly existence,
and never did come to any
thing. Long years later one
of the Persian satraps gave the place
and all its revenues to his wife as pin
money. The Byzantines nicknamed
their neighbor "the city of the
blind" because they had built where
they did, with the golden horn" and
all its wonderful possibilities in full
view.
In the days of the modern
Argonauts, Sacramento was funded
on the flats along the river bottoms.
The founders conceived the high hope
that they had found place to build a
city. The people with eyes came
along few months later and built
San Francisco at the Golden Gate.
The place on the river was "boomed"a
good many inches Sin advance of its
com me rcial and industrial develop
ment." AS natural result "specu-
lation must grow weary of waiting for
the day of promise, and turn back
to realize upon ITSELF" How natural
it was under these circumstances for
our esteemed and bright contempo-
rary to moralize on such subject
When, however, he comes to apply it
to us, how far wide of the mark he
shoots 4, The sales of real estate in
this county for the month of Febru-
ary just closed, ran up to $4,000, 900.
Sac ramento county will not sell half
of that amount of realty in
the current year. On Monday last
our sales came to $3.50, 600.
Sacramento will not reach the figures
in three months. Yesterday our record
came to s250,000. That will overrun
Sacramento's record for the month of
March. There is no suffering now in
consequence of the down-grade of the
speculative market having been
reached in Los Angeles, All that
is going on here is emphatically in
the way of "natural rise in values.
honest development, uninfated pros
perity." There is nothing of any
other nature to be looked for in this
city. This is by no means a "city of
the blind" The men who built Los
Angeles had eyes; those who are in