Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1891-04-15
rnE LOCAL rIyANcIAL srruArIoS.

hrEAKfSo Of the Territory ut large,
tho local H. incial situation Il peculiar,
and II wouhl be- well for the people to
study IT, and trim sail In accordance
with prevailing winds. A wholesale
merchant Of this city recently stated
that his establishment alone could
drive n numlcr Of country stores
IN the Territory Into bankruptcy.
other business men 10 whom
the remark has been repeated have cx-
pressed the belief that there was, un.
fortunately, too much truth In IL. The
reason for such situation Is this; Tho
establishment referred 10 supplies near.
~ all the country stores In the Terri.
tory with a certain line Of goods, aud
carries many Of thcm on It's books for
considerable amounts. In nearly oveiy
case payments were over due, and
should tho wholesale house brIng n
sudden and unexpected pressure 10
b-ar upon the retailers, the latter would
fnd II almost imposiblo TO respond,
owing 10 the scarcity Of money.
The monetary stringcncy felt In this
city since the holidays, has been 70.
markable, but has not been rs severe n
In some Of the smaller towns.
In this city nothing Is being done by
way Of starting n number Of enter.
prises and buildings tina, were talked
OF last fall as fully determined upon
aad arranged TO 10 pushed this spring.
In North Saltl.akc aud other portions Of
the city,street railroads were to be laid,
manufactures established and impor.
tant improvements inauguratej, Of
which nothing Is now being heard, and
not few mechanics arr idle.
And yet gloomy Wow Of the out
look IA not Justified, nor 10 II widely
prevalent On this contrary, there Is
sanguine confidence that financial
matters will right themselves. IL Is
surprising TO note tho hopcfulness OF
business men, who find II ditiicult, TO
say the lcas,, to meet their obligations;
aud tits gratifying to observe the dis.
position Of creditors 10 10 lenlcnt and
accommodating, which has been widely
prevalent. aud but FOR which serious
consequences would have been precipi.
lated upon tho community.
That the laboring CLASSES, particular
iy In this city, do not lack confidence,
Is indicated by the recent action Of the
hod carriers, In agreeing to demand n
scale Of wages varying from 80 TO $3.50
por day Of eight hours.
There Is good ground for confidence,
but II should not be carried beyond
the limits OF caution aud conservatism.
No panic, nor serious financial col.
lapse Ia indicated by any Observable
signs. hut the "boom" Is dying away
and values are settling to u permanent
level. Such process causes capital 10
be cautious. makes money close, aud
inevitably brings disappointment to
some who have been engaged In spec.
ulation. For some time 10 come, prob.
ably, work will not be- as abundant,
nor wages US high rs was the case last
year, and business houses which are
Judiciously conducted, will endeavor
10 curtail the amount Of credit extend.
ed to patrons, aud econOmixc their
financial strength.
individuals should govern them
selves In accordance with prevailing
conditions. II IL not good time TO en-.
gage in'airy speculation, but the indi-
cations otier strong inducement 10
Legitimate enterprises and industries,
and such Investments can aud should
DO made aud encouraged. In this con.
nection II Il proper 10 call attention 10
the sugar factory In Utah County. II
has already been n remarkable stimu.
lus TO Industry aud enterprise In the
region In which 1t Is located. II has
provided employment for hundreds Of
persons, including the workmcn who
are engaged in erecting the plant, and
promises well for the farmers who arr
sowing and cultivating besss. Should
tho supply OF tho latter prove
too small II will bo a Gallant.
~, aud the farmers should
exert themselvesto meet tho demand.
Here Ia labor for numerous class,
which Is sure to bring quick and profit.
able returns.
There Is need for conservatism, but
not for apprehension. Money Is said
To be slightly easier In this city, anl
most OF tho banks arc meeting the
more moderate requirement, OF their
customers. This, It is hoped, viii soon
spread an amelloratlng influence over
the Territory, and with the improved
prospects for good crops In tho fall =
through the late coplous snowialls, vii
tend to relieve tho monetary stringent
cy. but Indebtedness should no, DO
incurred In expectation Of an immedl.
ate return Of flush times, and the man
who owes the least VIII likely sleep
sounlest for some time 10 como.