The herald., 1894-12-18
SHE ,SLUMBERS.

There is pessimistic opinion abroad
that San Francisco is industrously in.
iuring her own interests to crafty the
personsl avarice of her capitalists, bank
ers and money lenders. 1t is claimed
that her vaults are bursting with mil.
lions OF money accumulated by usury
and the processes by which money
breeds money. 1t is asserted that the
citizens OF the metropolis are go selfish
that they have lost the spirit of public
enterprise. 1t ie almost an axiom that
San Francisco man will not let a doi-
lar stray from his bank account unless
the string attached is strong enough
to haul it back on the slightest possi-
bliity that it may get away.
Capital is notoriously "timid," but
San Francisco capital appears to be
psralyzed by fear 1t hides away on
the most trivial provocation. and will
not emerge from it's hole until lured by
the siren song OF usurv with an orches-
tral accompaniment OF collateral. San
Francisco is scared by the shadow OF its
own ssibilities.
One of the commercial publications OF
that city refers in the bitterness of dis
appointment to the iact that San Fran
ciaco has lost its northern, southern and
eastern trade. Its resources are practi-
cally confined to its environment, and
the country has mot sufficiently grown
to offset the loss OF this trade, which
has resulted in the decrease OF the
number OF business housee.
What are the reasons that conspire
to make this SO? In the ret place,
Portland, Los Angeles and Salt Lake,
as moneyed centers, are enabled to buy
goods as cheaply, added to which is
their greater facility for distribution. 1t
is not so much the question of bringing
the goods to San Francisco at figures to
enable them to compete as it is the ina.
biliIy OF the merchants to distribute
these goods throughout the country.
Merchants there are shipping goods via
Los Angeles," which means that they
can send these goods to Los Angeles by
steamer and then by Southern Pacific to
Bakersfield cheaper than they can be
sent from San Francisco to Bakersfield
over the Southern Pacific. lines. Such
a condition is lsmentable. and yet San
Francscans are go nesr.sighted and
O competing road in the San Joaquin
valley.
A prominent Fresno banker recently
stated that two years ago 90 per cent
Of the exchange OF that town was pur.
chased on San Francisco; now the same
ratio is purchased in New York Fresno
merchants can buy their goods cheaper
in Los Angelica than in San Francisco
oecauae the trade OF that section OF
Central California naturally belongs to
Los Angeles. In the event of the build
ing OF state railroad, or a competing
road by the ca spitaiists of Southern Cal
iiornia, the entire trade of Central Cali
fornia and OF tho San Joaquin, ss far
north az Stockton, would center in Los
Angeles, whero the advantage of COM
peting trRnsooutinental lines nay be
secured.
When We review the personnel OF the
San Francisco merchants, we find them
non-progressive, unenterprising, utterly
silurisn in all their ideas, ambitions and
methods. They sit ct the doors of their
places OF buniness like the storekeepers
oil q backwoods village. waiting for the
chance customer impelled by necessity
to patronize them Looking out upon
tho Guest harbor in the world; backed
by tho richest country on the face of the
earth; capable OF commanding the trade
of the orient, theee merchant princes"
dcgenerated to the condition of cross
roads variety stcrskeepers, have al
lowed the tea trade of America to slip
by them to Chicago they have permit
tod Portland and Victoria to monopolzs
tho trade OF China and Japan; they
have paid tribute ia niliona to the
Southern Pacific oompsny, and they
have enslaved thenaelves to a master
without mercy, goullesa and vindiotive