Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-07

OF Inls country Is rest-rest from the specu-
lator and ''syndic.'' Let the natural
order of things prevail and the incessant
''chin" Of the land boomer take a
rest for awhile. The country is rich
enough in wealth and resources to
have the truth told about it, and the
Quaker truth is that the flowery and alluring
and lying prospectus of Western ''town
siters" has injured the country. The
''boom' business has been fearfully over
done Values have been pushed up out of
all reason-and tumble was simply newt
able Admitting nearly everything that has
been claimed for the country In the way of
crops soil, minerals, 'fharbors' and what
not. Still it does not follow that land on
which the Indian footprints are still fresh
is worth more than the well-cultivated
farms and improved frontage near the
rich markets of the East A point in the
game of imposition is reached where our
credulity refuses longer to be played upon,
and the common sense of the multitude re-
specttullv asks to be excused.
Values and Boomers Tumb1ing.
Therefore values and boomers have taken
a tumble, or an enforced rest On the
coast there are no stocks to speculate
in, so the average man out here CANDLES in
land. He bought acreage yesterday at $50
and sells it as 'snap" to Eastern suckers"
to-day at $500, and when the $500 victim
wants to unload it at a s., 900, the wheel
simply refuses to go around and the Jig is
up. The Good Book says there is an end
of all things, and there is an end to such
things as these sure enough, and it is all the
better | take it, for legitimate interests,
that it is SO. The immediate result is
idleness, money stagnation and more or less
suffering and pecuniary hardship among
those who happen to be caught on the short
end and all this in a naturally rich country,
with an exceptionally wide field of activ-
tiles. Instead of producers the country. has
been overrun with
Nimble jugglers
Who deceive the eye.
Nine-tenths of the emigration to the coast
for many years consisted of land boomers
and real estate fakirs. The country was
crowded-overcrowded with men hunting
locations, =" and having 'located, the next
thing was to find purchasers or victims. The
Eastern market was systematically fed on
misinformation, and lying, and misleading
advertisements. 1t is said there are 800 less
real estate agents on the coast now than
there was wear ago, and this shows plainly
enough that the ''bait" has lost its catching
pow er, and that figs, as of yore, refuse to
grow on thistles.
Space will not permit lengthy reference
10 the very many quite ''cute, " curious and
questionable methods employed by the local
boomer TO put top-notch values on the
Eastern ''eye.
At present when values have ''sagged''
somewhat and a weak holder of city lots in
ba ooact cities is diSnoSed n ont DrioeS and
meet the market as best he can, the other
and larger boomers in the yicin-
age. instead of permitting the seller
10 dispose of his earth at fair rate that
would attract buyers, club together and buy
out the weak brother rather than permit
lower scale of prices which might mean a
cut of 25 per cent and take the
gilt edge off their holdings. Pres
entlv another weak holder will have
10 be taken care of in the same way.
Thus there is persistent "doctoring" of
land values, an effort to keep up condition
of affairs that is unnatural, that is sure to
play itself out and finally work a greater in
Jury to the community and to the holders.
Arrificiality That Cannot Last.
This artificial condition of things cannot
last. When the normal buyer is not in the
market the holders of these manufactured
valuations grow more numerous, and in
time, as they cannot feed on this artificial
diet. the inevitable break comes - often
with flood. Another peculiar method of
establishing unnatural valuations is akin to
this: A, B. and C. own respectively 20
lots on certain street. The lots would |
sell readily at $500 each. But this would |
not give Pacific slope profit. Accordingly |
A. and B. enter into an agreement with c. |
to purchase one of his lots, often under an |
assumed name, agreeing to pay therefore
s., 800. Possibly $50 cash consideration