The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1891-01-01
of the agricultural bureau of the depart

of the agricultural bureau of the depart
ment of the interior.
The growth of this Sound country has
been very rapid. As an instance, in 1883
the taxable value of property in King
county was SIS, 016, 795; in 1889, $23, 1913, 495;
IN 1880 it vas $40, Ais, 935. In Seattle it in
creased from SIC, 600 600 in 1889 to SIG, 000,-
700 IN 1880. The population increased from
5,o5S In 1880 to 10. 116 in 1883 territorial
census); June, 1889 assessors report), 3d.
90; June, 1850 (census), 1851. Besides
TINS. there Is an incorporated town-Bal-
adjoining it which three years ago
was timber land. The real estate transac-
tons for four years amounted to: 1887,
Wis, 9o9; 1888, So 49,, 510 1885, SIS, 055 794
1880 (up to December 20, 1S90) So, sic, 796.
Pierce county has increased quite as rap
idly in proportion, and Whatcom county
has grown from s., o00, 900 to $l4, 100000 in
two years.
The traffic returns keep pace with other
results. The Union Pacific railroad, which
is now building direct to Seattle, has hith-
erto supplied that place by means of a line
OF steamers running from Portland around
through the Straits of San Juan de Fuca, a
distance of GOO miles to reach point $50
miles as the crow flies. In May, 1889. the
total tonnage was 8, All, III pounds; in May,
1880. 1t was ,502, OILS pounds: export by the
same route was. May, 1889, 4,55S, 555
pounds; May, 1890, 9,2O8,672 pounds.
The Pacific Steamship Company carried
into Seattle So, 400 tons in 1890, an increase
OF 30 per cent. in one year. In 1889 there
were 500 firms doing business on more than
$500 capital; in 1890 there are over Loo.
When such results have followed the
building of railroads I think that it is
within the average of conservative bust
ness judgment to anticipate vastly greater
advancement when the several new lines
under construction are completed. The
Northern Pacific railroad is continually
extending its system. The Canadian Pa
cific, which crosses the continent, will
have terminus at Seattle in few months.
From the East the Great Northern is push
ing forward construction to reach the same
point. The Union Pacific, with its 1000
miles of highway, is building $50 miles
through one of the richest strips of coun-
try, for its extent, on the continent and
will reach Seattle by January, 1899, spurred
on by grants of money and land which will
be forfeited by failure to meet the condi-
tions. By December, 1890, this company
had spent 81 100000 on the proposed line
The increase in the value of mortgages,
as well as of all other absolute securities,
has been general, but with the great in
crease in the population of the cities there
has grown demand for manufactures
which afford profitable employment of cap
ital
Three or four years ago money was
loaned at the exorbitant rate of 20 to "A
per cent, but several Eastern capitalists,
attracted by the profits they were making,
migrated to the Coast and became perma-
nent investors. The bulk of the capital in
Seattle is now held locally, the proportion
of foreign investment being small. The
advantage is seen in the substantial char
acter of the buildings, and the secure foun-
dation upon which enterprises are based.
A business failure, except of an occasional
storekeeper who has been too venturesome.
has not happened in Seattle in two years.
In conclusion, will say that in writing
this article it has been my purpose to run
over in general way the leading features
of the state. / have not attempted to treat
exhaustively any particular resource, but
rather to call attention to all of the more
important.
In no one of the great lines named has
there been any extensive development. In
each there remain innumerable opportu-
mites for profitable investment. Capital
judiciously put forth in the way of devel-
oping any of them may rest assured of
magnetic response. II. III. GoLpIE,
Secretary Board of Trade.