Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1894-02-10
A PLEA IOn srArEsMANsnIp.

An alternative opportunity IL pro.
tented 10 the Legislature now In Bcs.
hion, the like q which Bsvsr cog-
fronted any previous Assembly In this
Territory, aud has seldom, II ever, been
offered 10 the Legislature Of any state
or territory In the Union. We make
this declaration IN all soberness and
earnostness, aud with no purpose
Of eKaggeraiing exciting conditions.
II the present Assembly shall de-
tcrmino 90 10 do, II has the opportunity
10 enact legislation that will bring dis.
asier aud calamity beyond oomputn.
ton upon our fair commonwealth, by
impairlng our credit abroad, aud pros.
trating our intercsta and industries nj
home; or II has the alternative OF pur.
suing a course that will do more for
tue peeuniary benefit OF the people Of
the Territory 40 u whole, than eau 10
estimated In advance. The Governor
Is horo included with the Legislature.
There are over n hundred and flay
million dollArs OF idle capital In the
New York banks, and the vaults cf
savings Institutions In large oitic5 Of
.aa East are iull to bursting. These
vast aggrogAtions Of lido wealth are
rapidly increasing In the money cen-
tera, while commercial enterprise and
creative industries everywhere nro
alaFwlnas fuF la l.
capital being thus boarded? Boopusn
Ia owners find no place IA
which they can invest II with
confidence that II will DO safe aud earn
an increment Once show thom a
place In which they can slloly put
their wealth, ana they viii eagerly
sock investment there.
Utah today has a credit and standing
In tho commercial world which aro
grand. No far her banks aud business
houses, with few exceptions, have stood
theslrain magniuoently. While kau-
aas, Colorado aud other portions OF tho
West have utterly defaultpd IN the
payment 10 eastern lenders of
both interest aud principal, Utah
has retained the confidence Of her
creditors, and her old.tme reputation
for honestly meeting her obligations.
The critis has ALEC proven that tho re. |
sources we have boasted Of actually |
exist and are sources from which may |
be drawn means with which 10 pay our
debts.
Now, what must result II we will but |
have q little patience and maintain
cur reputation for stability AZ surely
Ms cause follows eject In tho duo order
OF nature, We shall soon BIO relieved OF |
all necessity 10 seek for capital.
IL will seek US, and when once
the tide turns towards us. II
will dow deep, swift and strong. Cor.
ndsnce, like uistrust, h oonlag aud
when one capitalist shows his conf.
denee In Utah by placing his wealth
here, his example will bo followed
again and again. This Ia day ot
quick communication, and the I'm.
Rnolors OF Wall street watch, HE
hawks, tho developments that ara
taking place In evory portion Of
tho Union. No event can ,happcn
In the most remote corner OF the
United States, materially affecting any
financial interest, that is not known
within few hours aftor IL occurrences, |
In all the money oenlors OF this coun.
try. Even the bills bearing upon any
phase OF finance, introduced In mo
Utah Legislature, are forthwith T..
ported by telegraph 10 tho financial
oentefs, where the strain ~ 90 Intense
thata strong vibration Is started with
a touch.
To the candor, intelligence and
patriotism Of tho members OF tins
Legislature, we appeal with the ques.
tioni 10 not the foregoing true? Aud
being true, how should II utiac; your
volet9 thought to Inspire you with o
hnn resolve 10 vote down, with ma.
loriiyio strong 90 10 be a notice 20 eli
the world, any proposillon calculated
or likely TO uniavora0ly affect Utah.
credit and any assault, direct or indi.
rect, upon capital will have that result
The bin to tax debts secured by
moris ge7 or trust deeds, is q bin 10
discourage the Investment OF capital
In Utah. II gives evidence that our
financial policy "a not stable, and that ,
tho same Is subject to change Without
notice It's at variancs with that &c.
pu'ation for aolidlty ami conservation
which 80 must o1ntiuue 70 maintain. ,
" We ars 10 hold the increasing COZ,
hdenee OF capital. The local
ender tx tho rate Of inteEssl.