The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1891-03-11

6ookkeeper in Boston, or Springfield, or
Concord, or Philadelphia, whose little saw
lngs OF perhaps 81 600 or $4,000, are repre-
sented by nice steel engraved, red Ink
nneu nrst mortgage on some farm in Iowa,
Kansas, Nebraska or one of the Dakotas,
tnat perhaps might bring $500 at a forced
salel
There 81 is no antagonism between east and
west. There is no quarrel between capital
ISL and farmer. They ara not by any
means capitalists who hold the west in
pawn for its big cities with waterworks,
electrlc lights, paved streets, cable rail-
ways, City halls, far in excess of the needs
OF tnelr tributary territories. They are the
nunoreds OF thousands of clerks, factory
hands and men of limited means in the
Atlantic states, whose thrifty habits of
economy have enabled them to furnish to
the trust and mortgage companies and
savings institutions the funds which the
latter nave scattered in the west.
=, what is the way out? Not legislation
tnat VIII wrong these wage earners and
take from them their hard earned savings,
put work, hard work and less spec
nlatlon. The building OF big block
IN Denver or Pueblo adds moth
ing to the actual wealth of Colorado;
tnat ls, to Its resources for the production
OF wealth. Doubtless it is very pleasing
slgnt and fills one with enthusiasm and a
sort OF "hurrah for the west" sentiment.
u puts some money in circulation. 1t
brings IN carpenters and laborers who de-
mand homes in excess of the supply, thus
forcing up rents and this in turn inspires
new building enterprises, all of which
makes "boom," creates fictitious values
ana puts money in the pockets of the spec
ulators, and neither the west nor any state
or city IN the west can go on forever feed
ing upon its own growth, any more than
Inc Kansas farms could go on doubling and
giving the farmer a living out of their in
crease in value, instead Of their produc-
tions.
The ranchman, the miner and the smelter-
man nave ultimately to get out of the
ground the money to pay for all this i'm
provement and it will be long time in
coming. Every new building in excess of
the present needs is loading a debt on the
producer and is an additional tax upon the
material resources of the state.
why cannot the west see the writing on
the Walls Are there not enough visible x-
amples in the United States of the results
OF infiations Work in developing mines,
work in getting new land under cultiva-
tlon, work in providing storage reservoirs,
work directed towards increasing the act
ual productive capacity of the west are
what is needed, with perhaps legislation d.
rected toward providing market for the
products.
The west has but small cause for COM
plant against the east. Two hundred and
nifty years of thrift and economy have pro-
vlded the latter with money which she has
loaned in tremendous quantities to be
squandered in the west but she will again
supply unlimited quantities of money
whenever she sees the development of this
country taking turn which will give
reasonable assurance of an ultimate return
of the investment.
Scarcity Of money is not at the root of
the trouble. 1t is lack of confidence in
the security offered, which lack of conf
dence is amply justified by the reckless ex-
travagance which has been the fashion in
the west during the last decade.
Utah is in better shape to day than any
other western state or territory, and so
long as she pursues the conservative course
which has hitherto characterized her ad-
vancement, she will remain at the head, if
financial soundness and solvency be taken
as a criterion by which to Judge.
Let the pushing men turn their attention
to developing mines, constructing canals
and placing new areas under cultivation
that her actual development may keep pace
with the building of her cities and towns
and her railroads, and thus steer clear of
the sunless reef of debt upon which Kan
sas, Iowa and others have been so nearly
wrecked. JOSEPH CHADRoMUs.