The record-union., 1894-12-22

petltlon with California, so there was no
more encouragement for me to offer the
investor Tor his clients in the fruit than
in the grain.
had studied the sugar beet industry
before L made my first report to
thls association, and recommended it at
lnat time as the most important Tor this
place, so l could interest the investor
when L first presented my enterprise
after going East, in diversified farming
and the growing of beGts for a money
crop. Alter proper tract of land can be
procured, can get such parties inter-
ested provided a sugar beet factory is
located here. a colony can be induced
TO come here from Central New York
composed OF men who wish change Of
climate. ana understand diversified farm
ing. Before and since my return l have
been working upon this sugar question,
and am satisfied that II you grant the
same assistance to a sugar beet factory
that you would be willing TO grant to
other concerns locating here, there will
be no trouble to procure the necessary
capital TO go into the business by men
understanding the subject.
L take IL from reading your articles of
incorporation, and from what l have read
from the files of your daily papers that
published the proceedings of your meet
lngs during the time you were raising
fund for industrial purposes, you antici-
pated the condition of your city and the
county, and knew thar if your city was
to grow rapidly you must assist in some
way men that would bring their indus
tries here, or those that would start new
ones. \ ou are to be benefited by either
furnishing labor to people that would
trade with you, or that by locating indus
tries 1t would advance the price of your
property. If that was the object you can
with some success accomplish this in the
face of the hard times.
The factories L recommended to you in
my former report that could be located
profitably, / still consider would be a
success here, excepting the manufacture
of starch from potatoes; the climatic con-
ditions here are such that the cost of pro-
duclng the starch would not allow it to
compete with that made from corn in the
East and shipped to this market.
The most important of all factories to
locate here are those that can get the raw
materials, where the labor in producing
it Will be OF benefit to the community as
well as the labor in the factory Itself.
Should this association think that it
does not care to carry out its original idea
for factories l am ready to give up the
work. L have too high a regard for the
members OF this board TO wish TO work
out my engagement if it will embarrass
them In any way; in fact it may be TO
=
l will do everything that lies in my power
To help him start. This organization
should be held together until it is reor-
ganized on the basis | outlined in my
nrst report. There great field for local
work:here. There is no city of its size in
this country that needs it more than this
city.
L call your attention to letter mark ed
exhibit II. 1t Is very important, and in
the line OF work that should be taken up
by this organization. You can never
succeed, in my Judgment, to any great
extent IN getting capitalists TO settle
amongst you so long as your indebted
ness Is III the condition 1t is. | called at
tentlOn to this matter when l made my
first report, but as there never was any
instructions as to how lar This manage
ment was expected to Investigate this
matter and report, did not go into 1t as
fully as | would have liked to.
You should assist the work of the State
Commission appointed by the last Legis-
lature in properly representing to the
new Legislature the Importance at this
time OF taking up the drainage-canaI
question. 1t Is Of the greatest value TO
this city, and should be commenced at
once. 1t is of interest to the State at
large, and especially TO San Francisco;
her $1,000 vacant houses will not be filled
very rapidly unless the central portion of
California is developed; her prosperity,
like your own, depends upon the build
ing up of the interior, and their legls-
lative influence ought TO be reached Tor
aiding this work, and it is none too soon
TO commence.
The work is SO great that it must have
the credit of the State TO back the enter
prise, and can be made to pay the State
well 1or the use OF her name l am in
formed that the public charity will be
great in this State; the idle labor can be
employed i'll this public work, and save
the people thousands of dollars that they
will otherwise have to furnish Tor feeding
the unemployed.
There Is great chance mere for pros
porous and healthy growth, as soon as
you moderniZe your city and county.
You that have visited San Jose and Santa
Clara County know what her modern
improvements and good roads in the
county have done for that country. Clear
water, good sewerage and good county
roads Will do more than anything to
start a permanent growth. Your boom
among yourselves a few years ago that
failed in few weeks was started before
you were prepared for il; but when you
are once properly prepared and have it
started right, your resources are SO great
that you can go on and on in a healthy
way. No interior city has greater ad-
vautages or has so much valuable coun-
try at their very doors that belongs eX-
clusively TO them as that which Sacra-
mento has.
l have already said the times were i'm
proving-slowly, but sure. They are
likely TO be somewhat delayed from the
reforming that is talked OF through the
change proposed by the Secretary of the
Treasury, and indorsed by the Admins
tratlon, i'll our currency. a country
never advances rapidly when undergo Ding
the discussions of monetary agitation.
The plan may have some good ideas, but
the complicated and Objectionable feat
ures are no improvement on present con-
dltlons. Poor money always drives good
money away. A lesson can onIy be
reached by the people through the logic
of events, and they are the ones who
suffer for The mistakes of legislators who
pop up every SO often with wild monetary
theories.
There is great lesson going on at this
time. II II could be understood. Money
Is very plenty the world over Russia.
which has never been able to float her
loans under D per cent. and at consider
able discount on the face value of her
bonds, has just tloated Sl00, ,0O0, 600 at 81
per cent. The City OF Liverpool 1901 100
loan, bearing q per cent. interest. has
been subscribed three times over. The
debt OF that city is enormous. This is
even greater surprise TO the bond pro-
moters than the City of Paris loan of
10000, 600 last June.
l merely mention this to Justify my
convictions that you cannot hope for
much relief in the West from large in
Vestors SO long as this monetary agita-
ton is going on. Foreigners are sending
our securities to our financial centers anu
taking our gold out of the country. Our
hnanciers are taking their surplus and
putting it into these securities that are
known to be good, and the balance in