Los Angeles daily herald., 1889-03-02
rhe ssrn,vth Of Citics.

growth as a city of commerce and Reod-
ern improvement she can hardly ba said
to have resched her decennial year.
Daring this last period her progress has
been marvellous, not even the great city
of the north having surpassed her in the
first decade of her existence. 1t is the
rule that cities grow abnormally for
series Of years, and then. from some
local or extraneoEs cause, period OF de-
pressien comes in to check the forward
movement. The growth of San Francis
co from the time ofthe gold discovery, in
1S4g, till 1858, was wonderful. In the
latter year came the first great check and
setback. The rush for the Frazer river
was SO great that property values were
almost annihilated. Lots in what is
now the business heart of the city went
begging for purchasers at few hundred
dollars each. One thousand dollars
would buy fifty-vsra lot at that time
within block of the Baldwin Hotel.
This depression lasted for several years,
and the basis of some of the large for
tunes in that city were laid during that
period. San Francisco did not really get
we'll on the upgrade again until about
1868, when the wonderful out
put of the Cemstock mines brought
to the Bay great stream of wealth. The
city then took its second start, and grew
apace until 1860, when the completion
of the overland railroad had the un-
Iooked-for result of paralyzing business,
and it was not until several years of hard
experience had elapsed that the mer-
chants of San Francisco adjusted them
selves to the new competition that had
come in upon them, and began to again
build up the commerce and expand the
growth of their city. In the meantime,
the Bonanza mines poured their prodi-
gious wealth into the Golfers of San
Francisco, and an era of architectural
development took place that surpassed
all that had gone before. We have thus
hastily sketched the experience of San
Francisco in her growth. But it is to be
remarked that, with each recovery fir ON
period of depression, the values of real
estate steadily advanced, and never
receded.
We take it that this is the law of de-
velopment of all cities that can justify
their existence by the merit of their loca-
ton and the productive value of theii
tributary territory. The experience OF
Los Angeles, on a small scale, was sim
liar to that of San Francisco, prior tc
1880. The boom of 1875 was checked by
the bank collapse of the succeeding year
and the hegira to Arizona; yet the
realty values of 1875 receded but slightly
after the financial crisis; and when the
march forward of 1902 began to make
itself sensibly felt, then prices shot up
ward, and kept ascending until less than
a year ago, when they seemed to have
reached their top notch for the present
until another upward movement begins
when they will 60 away ahead of what We
now deem reasonable values.
In our summary of San Francisco'f
growth it will be seen that she was ia
vored twice by adventitious circum.
stances. A remote Territory came in ac
cidentally and Unexpectedly to suddenly
swell her wealth and give an extraordi
nary impetus to her prosperity. She
would have steadily grown without thii
fortuitous help, for her situation wai
such as to mark her out for great com
mercial city; but her growth would have
been slow and gradual.
In some respects Los Angeles possesses
advantages of situation superior to those
of San Francisco. She has a back
country Of limitless possibilities of pro-
duction, and includes in her soil-re
sources character OF products far more
valuable than those of the north. And
in mineral resources, Los Angeles is
admirably situated to become the com
mercial focus OF a wider extent o.
territory, rich in ores, than San Francisco
could boast in her developing days. From
Phoebe to Calico, and from San Gabriel
canon to the uttermost limits of Arizona
we are in position to make the mineral
wealth of that imperial region tributary
to the future growth and prosperity OF
our city.
Los Angeles is now in better position
as to wealth, population and future
growth than San Francisco was in 1868
and another decade will see our city, il
not side by side with San Francisco,
at least good second to her in
all that goes to make a city great and
prosperous. Our people will then look
back to the property values of the pres
ent time somewhat as the people of San
Francisco look back to their property
values in 1868. The advance will cer-
tainy be steady and sure; and if some
of our tributaries should, happily, meet
with an access Of Comstock luck, as is
very possible, we shall witness march
forward such as will fill with regret all
who have failed to take proper advantage
of their present golden opportunity.
IT SEEMS that Pullman has actually