The herald., 1894-11-11
BOOM,S AND BOOMS.

During the years 1886 and 1887 Los
Angeles passed through a period of ex-
traordinary activity and rapid develop
ment which has ever since been known
ae "the boom" AS an event of that
character the Los Angeles boom ranks
the most striking and memorable to be
found in the industrial history of the
country. The only ones to take prece-
dence over it were those that took place
in the oil and natural gas regions of the
east or in the mining sections OF the
west. here the sudden discovery of come
valuable mineral caused a sudden rush
to the epot. In this case there WAS no
discovery, although the sudden awaken.
ing Of the east to the possibilities of this
climate might rank as such.
The question OF whether the boom was
on the whole benefit to this section is
one which has been q frequent subject
of debate among Los Angeles people
since it came to its close in 18S9 1t is
held by some that considerable
element of the population added
during that period was undesirable
and had to be replaced later by others
who came because OF the real merit OF
the country and not under the excite.
ment OF speculation; that while few
people experienced rapid advance in
the value of their property, number OF
others were ruined by being tempted
beyond their depth that toverstatement
and false rumors about the country
were spread throughout the union
which caused Southern California to be
the subject OF general ridcule and
abuse.
On the other hand, it is contended
that the boom ard it's attendant excite
ment called the attention of the whole
country to the existence of Los Angeles
In a striking and emphatic way, and
thus laid the foundation for all the sub.
stantlal prosperity that has followed in
its wake.
But whatever the advantages or dis
advantages of the boom OF 1887 may
have been, the boom OF the present
which is taking shape and undertaking
before our eyes today is enc OF unaloyed
gain without the shadow of draw back.
Were it not that the prospect OF 1895
and 1896 ia even brighter, the year 1891
would be likely to stand out alone IN
the history of this city for the substan
tial progress and prosperity which it has
brought.
Recent directories, the school census
and the registry OF voters all go to chow
that since 1890. at which time the
United States census was taken, the
population of this city has increased
from $4,000 to S5C00 which means, in
all probability, that the population is
doubling in the period OF five yeara. A
decided rate Of increase in population is
shown all over Southern California, al
though there is no doubt the greatest
increase is to be found in Los Angeles
eity. 1t is to be noted with satisfaction
shat none of the Objectionable classes
who were called here by the excitement
OF the boom are coming in now. The
newcomers are not expecting to make
their fortunes in week buying and sell,
Ing land. They are, for the most part,
home seekers who are ready and glad to
do their part in the development Of the
country. Many OF them are people of
wealth, who build the mselves pleasant
homes in the city and are merely wait
ing for an opportunity to put their
money into any good enterprise that
may seem promising.
Together with the increase OF popula-
ti0n comes an increase in the wealth of
shs section. The savings banks are
filled with money waiting its natural
outlet into legitimate inv stment. The