The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1892-09-05
THE BANKERS CONVENTION.

An Opportunity TO Benefit san Fran
cisco.
The Grocer and Country Ne. clant, Sept. 2 /
The annual convention of the American
Bankers Association, without doubt the
most influential organization in the coun-
try of financial character, will for the
first time, we believe, in its history, be
held in city located west of the Missis-
sippt River, the meeting taking place in
San Francisco on the 9TH instant. The
delegates who will be present are among
the shrewdest fnanciers in the East, and
the reports they will make as the result
of their observations here will have much
weight, not only with capitalists abroad,
but with those who may contemplate the
investment Of funds on this coast or of
emigration hitber. This being the case,
II would be obviously judicious il the
business mon of this city who have Of late
INDUCED SO freely in expressions of dis
may at our commercial prospects, and
the journals which have devoted so much
space to emphasizing these statements
would take on more cheerful tone. In
stead of labored efforts to make known
the weak places in the business situation,
good policy and common sense would
seem to demand that such advantages As
we do possess, and they are many, should
be set forth to the fullest extent. 1t may
be, perhaps, that the obstacles which
exist to the growth of the commerce Of
this city could not be removed without
giving the fact of their existence the
widest publicity, and it is possible also
that the eXaggerations which have been
INDUCED III some quarters as TO the COM
mercial situation may tend to its inn
provement. Heroic remedies are some
times necessary to preserve the patients
life. In this case, however, we doubt if
the patient is SO near moribuud as some
| - i 4. Il. ~ ~.
we are of the opinion that the situation
has been greatly aggravated by the unwise
utteranceS of merchants who chaie
under temporary dullness of trade, re-
inforced by the reports and editorial eX-
preSSionS of some of our contempOraries
whose recent conversion from an attitude
Of friendlineSs TO leading railroad cor
poration To that of enemies, as is gener-
ally the case with new converts, has led
these journalists TO loath the faith they
formerly protested, and TO make it their
duty TO win proselyteS at any cost. In
this case the cost is likely TO be heavy
one 10 this community, which by these
journals has been made to appear as UNI
able or unwilling To free itself from a cor
poration, the policy OF which it is asserted
has caused the duh times which have pre-
vailed here for some time. In saying this
we do not defend the course of the South
ern Pacific Company in charging high
freights from this city to interior points,
but as these rates are the same as formerly
when mercantile affairs in San Francisco
were in a prosperous condition, it is OBJ
vious the maintenance of such charges
cannot be the sole cause of the decline in
trade of which so much is heard. If San
Francisco is to grow and prosper, that
condition can be attained only through
the enterprise and public spirit Of those
of its citizens who recognize the advan-
tages il possesses, and strive TO have
these advantages utilized to the utmost.
The great cities of the Mississippi Valley
were built up by men who had confidence
in their surroundings, and who worked
untiriugly TO Undue others with the same
faith. That there are many of this class
in San Francisco cannot be doubted, but
of late the Jeremiahs seem to have the
floor.