The herald., 1893-06-26
THE DUTY OF THE HOUR.

Now that people have got over the
financial furry that visited this city 30
suddenly and unexpectedly last week,
and had q chance to carefully look over
the scene, they are amazed at the
altogether unwise and uncalled-for panic
which seized upon the community. 1t
is as if an enemy had suddenly taken
possession OF MS and proceeded to do us
all the harm in his power; and yet an
enemy could not have worked us 30
severe an injury as we have inflicted
upon ourselves, for he could only have
creatsd passing alarm and looted us OF
a email amount of treasure, whilst we
unsettled confidence In ourselves, both
here and abroad, and inflicted upon our
prosperous section blow which it will
take steady purpose, mutual goodwill
and iorbearance, and time to recover
from.
1t is no small matter TO even tempora-
rily disturb the even flow OF business
and the progress of healthy industrial
development. Had such craze arisen
in the midst OF hard times, during de-
preston consequent upon some great
calamity or disaster, or on the heels OF
widespread and wild era OF speculation,
it could have been accounted for on ra-
tional principles. But to fall upon us
like thunderbolt from clear sky, and
to hold its carnival of madness for sev-
eral days in the midst of prosperous
season, when everything was pleasant
and hopeful, and when the outlook along
all the lines Was OF the most encoursg-
ng character, one is tempted to cay
with the poet that there are times
when Judgment has fled to rubbish
heaps and men have lost their reason"
But it is not our purpose to read
doleful lecture upon an episode
that is to be deplored from what
ever point OF view one may contemplate
it, but to pick up the threads of the
tangled affair, and deduce from it les
son which may be OF value to us now
and in the future.
What this community now wante
more than anything else is tho immedi-
ate restoration OF confidence. That
there is no rational reason why it
should ever have been disturbed renders
the task easy that it should be at once
restored. The episode has proven to the
Satisfaction OF everybody that this city
is financially in as sound condition as
ever any community WAS. II has shown
conclusively that our financial affairs
are in competent and honest hands, aud
that whatever may betide us, We BhSlI
never be the victims of reverses based
upon dishonesty in the custodians of
our money trusts. This is everything.
This should form the corner-stone of
reinsurance as prompt and as broad
as it is deserved. Nothing
should therefore stand in the
way of the Immediate rehabili-
tstion of our credit and COM
fideuce, and that liberal and just degree
of forbearence that will in the shortest
space of time bring everything back to
its normal and prosperous condition.
We are entrusted with immense re-
sponsibilities. To us is committed the
care of building up great and opulent
city and the development of section OF
country that is mRtchless in the wealth
Of its resources. We have everything
in our favor The yield OF our staple
crops never has been better; the expan-
sion OF our business has been going
steadily on; new tributaries to our
| ~, ~ knnlr
being constsntly added to the territory
we commercially control our popula-
tion is rapidly increasing and we are
continually adding to our msnufRctur-
ing possibilities; we are rapidly nearing
the time when we shall be the focal
centre OF the trade OF southeastern
Nevada and Utah, and when Salt
Lake City will be in intimate and
beneficial relations with Los Angeles
we are looking seaward for develop
ment of maritime commerce on scale
OF Importance we never dreamt of be
! fore; and we are preparing to meet thu
vast activities in trade which the Mica
raugus canal shall bring us with port
, capable of sheltering the commercia
fleets OF the nations.
} When such bright actualities anC
encouraging prospects stare us in tn
face, we ought to realizs the great re
sponsibilities before us. Above all WI
} should not allow mere Whit of an ad
Q verse storm to take away from US ou,
a poise of judgment. We are in the mids
Q of great opportunities, and we know tn
0 character of the men OF Los Angeles to,
r well to for q moment doubt that the
will not rise equal to them.
} AT VERY early period in the histor