The herald., 1893-09-03
SOME OF TIE CAUSES OF A CRAFTY.
ING FACT.


mere paragraph the remarkable lesson
conveyed by the clearing house returns
for last week. There was period of q
couple of weeks when Los Angeles was
in q comatose state. She rapidly
emerged from this condition and has
since been steadily climbing up from the
slough Of financial despond. Last week
she not only recorded the largest in
crease in the clearing house exchanges,
but che was the only city that recorded
centers of the United States. Not only
that, but while the other cities, as in
the case OF Portland. Oregon, reported q
decrease in the ratio as high as n per
cent, the Angel City recorded gain
over the equivalent week of last year Of
over So per cent. AS the old saw runs,
''fgures can't lie."
To any intelligent person who has
watched the developments in South
ern California, and particularly in
Los Angeles county. there is MOTH
ing strange in this. II it had
not been for the foolish monetary
furry in mid-June, which not only Wis
tied Los Angeles but nearly every city
the United States, we should be witness
ing in this city and county today not
only the most remarkable movement OF
development ever recorded in this coun-
try outside of the flush days of Chicago,
but we should have been in the midst
Of highly exciting and hectic real
estate boom, which would have equaled
in magnitude that Of 18S6-S7, with, Of
course, the difference that the latter
would have been founded on production.
Southern California was filled full and
flowing over with people from every
quarter of the United States and every
section OF the globe. They realized the
fact that phenomenal settlement was
about to take place here, founded on a
great variety of considerations, in
which climate cut only its legitimate
figure. The stranger within our gates
estimated the etatus Of things here very
exactly. When the money stringency
set in he in no wise changed his mind.
He knew then, as before, that bedrock
figures for real estate prevailed here,
and that the chances for bargains for
property existed here to greater de-
gree than had satisfied him before the
panic, but he was anxious to find out
how he stood himself. Very naturally
our Eastern visitors and settlers turned
homewards, like the swallow, to inves-
tigate the condition OF their own nests.
There was no disillusion as to the at
tractiveness Of Los Angeles for a resi-
dence, or the desirability of casting in
their fortunes with this section from a
business and progressive point Of view.
Now that the frightened people of the
United States have had time to recover
from their scare, multitudes OF them
realize that there is one point in the
country more than all others on which
the word Excelsior" is stamped with
indelible impress, and that point is pre-.
eminently: Los Angeles, with Southern
California at large field for careful in
vestment with view to settlement.
This feeling is more strongly impressed
on their minds now than it was before
the goldbug panic, engineered with such
painstaking care and chicane. by the
Wall street people. They are deter
mined, in large numbers, to cast in
their fortunes with community which b
is advancing in all ratios Of growth more
rapidly than any other, and whose at
fractions for a home, are simply nom
pareil.
Nowhere are improvements, public
and private, going forward more rapidly
than in Los Angeles, ranging from trans
continental railways to electric and
cable local roads. Business is better
here than in any other quarter of the
United States, with the possible excep-
tion of Chicago. No wonder our clear
ing house reports mount higher and
u inhart