The herald., 1893-09-16
A CURIOUS AND INsPIRIrINa RECORD.

There is no question of the fact that
Los Angeles has passed through the
crisis of the latter part of June and
July in very creditsble, and. to some
people, in surprising manner, and yet
there is nothing out OF the way about it.
However complicated the business
affairs of the rest of the country may
have been-and there was no complica-
tion Whatsoever outside OF the conspirs-
cy of the goldbugs to produce an artifi-
cisl panic and the disorganizing opera
ton of the Mckinley tariff-in Los An
geles county and the most OF the adjoin-
ing counties of Southern California there
was not a single element that should
create business distrust. On the con-
trary, everything has pointed to an era
of unexampled prosperity and develop
ment. Notwithstanding the unques-
tionsbly severe ordeal. our business
men have come to the front with unim-
paired credit and have done good BUSH
ness-in many cases a better business
than this time last year. II it had not
been for the eastern panic radiating
from east to west--we should already be
in the very head and front OF the great
est sectional development ever known
in Southern California, or, indeed, in
the state at large.
For that matter, all the conditions
which exist here now are those which
precede expansion and growth of an ex-
traordinary character.
1t is one of the most significant cir
cumstances ever recorded in business
annals that not single business failure
in Los Angeles followed upon the heels
OF the collapse OF the celebrated boom OF
lSs6-S7-the most extraordinary real es-
tate kite-fying experience ever known
in; the United States. This showed the
marked vitality OF our business COM
muaity.
AS we write, we are aware that one OF
our leading mercantile firms is supposed
to be in pecuniary straits. We heartily
trust that it may weather the gale. But
whether it should or no, one embarrass-
ment of the kind in no whit diminishes
the splendid record made by the bus
iness men OF Los Angeles city and
county.
This is young community, with an
iDcontestably brilliant future. Its geo.
graphical position. it's unsurpassed COM
mercisl and railway advantages; it's
splendid ocean front, with two or three
incipient harbors that are bound to en-
ter largely into the commerce of the
world; its climate, surprising that OF
the Riviera OF Italy, all point to the
region between Old Gray back and the
sea being the most densely populated
region on the globe. 1t will be an &C.
lectic population. 1t will be gathered
from ali the climes of earth. 1t will be
largely agricultural and horticultural,
but it will have large element OF com.
merce and manufactures withal.
The writer once had the pleasure and
honor of riding through the San Gabriel
valley with Gen. Winfield Scott Han
cock, shortly after the election of 1880.
As we ascended the heights toward the
Sierra Madre hotel the general turned to
the occupants OF the carriage and point
ing over the expense of valley and to
Los Angeles lying over a low range OF
hills, he said: "This region is destined
to be the most thickly settled and elab-
orately improved of any portion of the
earth. l wish l could live twenty-five
years to see the wonders that will be
accomplished here"
And Hancock was quite right, and the
wonders are in process of accomplish
ment now.