The herald., 1893-07-01
off cheap with the loss of his collector
ship. He deserves much more severe
and exemplary punishment.
THE REAL OUTLOOK FOR LOS ANGELES.

ties, to be able to truthfully chronicle
the fact that the outlook for prosperous
times never seemed half so well. We
are confronted with conditions OF growth
that have never existed here before to
the extent in which they exist today,
and which exist nowhere else on the
Pacific coast in the degree in which they
may truthiully be said to prevail here
and now. Day before yesterday We
published an article from the Argonaut
in which that vivacious San Francisco
journal frankly admitted that this city
was hurrying forward at an irresistible
pace to the primacy of the cities of the
Pacific coast. admitting even that our
chances of passing San Francisco herself
are of the best. We followed that most
encouraging outside testimony up with
extracts from the Chicsgo Herald, which
conceded to the coming metropolis OF
the Pacific coast the most gratifying
prospects.
The fact that in common with about
every city in the United States Los An
geles felt for few days the money
stringency which has prevailed every
where cuts no figure in the matter. IT
would be ridiculous to suppose that
new community like Los Angeles, whose
rapidly accreted population has scarcely
had time to become homogeneous, should
not have felt the acute financial pressure
which hae prevailed all over the United
States. and which has shown its great
power for evil even in such financial CEN
ters as New York, Philadelphia and
Boston. A crisis 80 pronounced that it
at one time sent the interest on call
loans in New York City up to seventy
two per cent. a year, and which COM
PEELED the banks of both New York and
Philadelphia to issue clearinghouse GER
tifcates to the amount OF many millions,
could not fail to make its presence felt
everywhere. 1t is great question as to
whether, in the end. the late financial
furry may not prove to have been
blessing in disguise. 1t has forced
universal account render in the United
States, and we are at least fortunate in
the act that the severe ordeal has dis
closed q fair banking status in most OF
our financial institutions and superla-
lively good one in the case OF 30 me OF
them.
But, maugre the existing financial
conditions, in which we have been sim
ply responsive to influences that have
affected and are affecting the whole
country alike. the agencies of growth
that exist here today are OF incalcusble
energy and extent. We are witnessing
at Port Los Angeles the creation of 8
harbor which will probably revolutionizs
the business OF the whole Pacific coast.
and which will, in all likelihood, divert
to Los Angeles the greater portion OF
the shipments OF the Asiatic continent
as we'll as the coffee trade of the Pacific
coast of Central America. OF course
we have as yet made but beginning in
this line, but great commercial move
ments, where the conditions OF expan-
sion exist, generally grow with astolish-
ing momentum and velocity.
The usual attendants Of local pros.
perity are present in Los Angeles in
marked volume and variety. Never
have we had such crops as now. We
have been fortunate beyond expression
in all lines. and the only cloud upon our
good fortune has been the unfortunate
handling of our orange crop. The
prices have not been satisfactory to
growers, and there has been lack OF
skill and business methods in its distrl-
button which can be readily corrected.
But the trees are there, and they are in
healthy condition. We have had no
disasters, such as are frequently re-
ported from other orange districts.
While the New Orleans exposition was
under way a storm passed over Florida
that not only totally destroyed the en-.
tire orange crop of that year but killed
three-fourths of the trees outright. The
orchardists were obliged to create their
orchards almost anew. Southern Cali
fornia growers have yet to zee the first
mature orange tree killed in this section
by frost or any other agency except
downright neglect. , With products
ranging through all the staples of the
temperate and sub-tropicsl zones, and
with the ability to raise from three to
four crops OF potatoes, beans and peas
year by the aid of irrigation, Los An
geles can afford to laugh at all the bank
nurries in the world.
We have spoken so often and go min
utely of our unrivsled railway systems,
local, state and transcontinental, that
we scarcely regard it as necessary to go
into that phase of the matter with any
particularly. Suffice it to say that the
steady progress of the Nevada Southern
will undoubtedly open up before the
close OF the year one of the richest gold,
silver, lead, copper and coal regions OF
the world. These great mining camps
in which fortunately gold is so aound.
ant--will draw ell their supplies from
Los Angeles. and will compel the erec.
tion here OF enormous smelling works.
Tns Cudahy pork packing establishment
is ready 10 take all the pork our farmers
can raise. and are now paying eight cents
q pound for hogs on the hoof. With all
these commercial, railway, agricultural
and horticultural euergies at work for
cur bettermsnt, no wonder that An.
gelefios feel "a invincible confidence in
III