Dodge City times., 1889-08-01
4 substantial VS. a Speculative
Boom.

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Boom.
One of the wisest of old maxims Is
that which reads: Buy when every
BODY wants to sell, and sell when every
body wants to buy. But few people
in this country, however, practice it.
Two years age everybody seemed pos
sessed Of mania for buying real estate
The wild ''boo.n slirit seized all the
people, from ocean to ocean, ard the
craziest era of speculation followed
Cities, towns and villages caught the
fever and the epidemic ragged. FOR
months. with extraordinary vlruiance
enormous prices we're paid for town lots,
and thousands Of acres OF excelled
farming lands were out in additions
to cities and towns that already includ-
ed ample territory to meet demands OF
legitimate growth and Development.
Following this wild lot and land buy
ing mania, came period of reaction and
depression everybody wanted TO sell at
once, Prices went down and down,
numerous salditions" were abandoned
to iimsou weeds or sumac brush OF res
tored to the area OF farm lands. The
mania TO sell was as unreasonable. and
the fall price as sudden and great as the
mania to buy and advance In prices had
been year before.
There was no sense, reason or judge
ment in the '.boom, and there is just as
little in the depression that has follow
ed the reaction but many cool headed,
sagacious people have been swept away
By the contagious and ephemeral excite
ment of both periods: and first bought
when everybody wanted to buy. and
then .'sold when everybody wanted to
SELL
There are few men, however, who
have never lost their heads. When the
'boom7 was on they didn't buy a lot
nor foot Of ground. but they are quietly
buying now, at prices to suit them
selves. if any one will take the trouble to
examine for himself, he will ascertain
that what we say is true.
The ..boom of two years ago was un-
natural, and without substantial cause,
the present depression in real estate
price is just as unnatural, Just as much
without substantial cause as the boom.
Within brief time values will reach
natural, healthy level. Sh-ewd saga
cious, observing men know this, and are
shaping their business on that know
ledge; the unnatural depression of the
present will be followed by reaction
not, We trust, equally unreasonable or
having any of the elements of specu
lative boom, but a natura! and
healthy reaction, restoring values and
prices TO substantial level, based on the
certain development of the country, the
natural increase of its business and in
dustries, and its steady growth in wealth,
prosperity and population.
These things are clearly seen by all
cool headed and clear Drained men Kan
sas is going to grow, surely and steadily.
She has population of only 1850, 900
and can sustain and furnish employ
ment for FIVE or six times as many peO-
pie. Her wealth producing capacities has
Just fairly been established. Her agn-
cultural resources are almost illImitable.
Kansas is going to be one Of the richest
and most populous countries on the con
tinent and her towns and cities will keep
pace with the development of the State.
She will have DO blooms we hope but
she Is certain to grow, to prosper. to IN
crease in wealth, produetiveness, and
industries, for quarter of century or
more to come, these are facts it will do
to bank Oh because they are facts. And
clear-brained men are gov
erning their actions and investments on