The record-union., 1895-04-15
TIE GROWTH OF SAN FRANCISCO
HOW IL NAY BE PROMOTED.

A city is simply the effect of cause.
Commercial and manufacturing pros
perity of city are generated by the in
dustrial activities of a supporting terri
tory. To repeat-a city is merely the
effect of cause. Its prosperity and
growth are correlated with the pros
perity aud growth ofthe population which
supports it. The volume of commerce is
proportioned to the productions of the
country necessitatinR exchange. Like
wise manufacturing is prosperous by
reason of the demand for manufactured
wares. Commerce and manufactures
alone produce growth in the cities.
The financial condition in the territory
naturally tributary to San Francisco is at
present most unfortunate. That misfor
tune is not due to the rates of transporte-
ton. The navigable river of the Sacra-
mento Valley, which is Of itself q factor
of the rates of transportation, forbids this
conclusion.
San Francisco's Half-Million Club will
accomplish something when its members
become familiar with the actual state of
affairs. The purchasing power of gold
has been constantly enhanced by the
elimination of other species of money.
Silver is no longer available in the settle
ment of foreign balances. The criminal
stupidity of Grover Cleveland is elimi-
mating the Treasury issue from the circu-
lation of the country. Just as long as
money is acquiring an additional
purchasing power, just that long prop
erty will diminish in value. Men
do not buy in the face of even prob
able depression. They do not establish
factories for the manufacture. of wares
| declining in value, and when the wares
they will produce are subject to like
| law. Thus enterprise of all kinds is
! paralyzed by the increased purchasing
power of money. 1t is to this increase in
| the purchasing power of gold that tue
inisfortunes of the Sacramento and the
| San Joaquin Valleys must be attributed.
| Let some facts from official sources illus
trate this, and let those who read torego
the pitiful self-deception which is born oi
prejudice, and fostered by the villainous
| journalism of San Francisco.
In 1890 the mortgages upon real estate
in the State of California, chiefly upon
the lands in the country, aggregated
SI68. .0S7, ,325. This statement is official. The
value of the property affected by these
mortgages was Sl99, ,O99, ,265. Let US SCI
now what consolation we may draw from
the report of the State Board of Equal
ization for 1893.
! In 1898 the total value of mortgages
not their face value but the total value o
the mortgages-was SOP, ,874. .329. In three
years, from 1890 to 1893, the realty of Cali
fornia received additional mortgages il
the amount of S34, III, ,0O4-nearly $4,000,
600 per year, or in the aggregate millior
a month 1t would be interesting to fol
low the totals by counties; we have space
however, for but few.
Fresno has SlO,68S. 900 of mortgages ol
it's real estate. The total value of tn
property affected by these mortgages il
that county in 1898 was sic, ,858,059. Th
county is mortgaged for 35 per cent..o it
, entire value. szz@
Santa Clara County is mortgaged 70
IO.l74OOO
Solano. for S4. 113,0O0.
Yolo for s.. All, 900.
, Colusa for g, 54I 200.
, Tehama for s., 10000.
Butte tor s., ,3O2 coo.
Sutter for Sl.S73,OOO.
, The total public bonded and foatin
t Indebtedness of the counties is aboU
$4,000, 900. The Indebtedness is a mor
t gage upon the property of the counties
8 Therefore the total mortgage upon th
) total property of California is SOS, ,00O, ,OO
f In most instances all property affecte
f by mortgage is not equal to the value
o the mortgage itself.
i During the period of San Francisco
: growth the value of the personal propert
:. in California, proportioned to the value
" real estate, was nearly so per cent. I
8 1861 it was 1852 per cent. It descende
It upon a gradual declining scale to IS9
Il when the personal property is found
@ have but 1856 per cent. of the value of a
= property. In a total valuation of 81, 200
o 900, ,000, the total value of personal pro,
# erty, including money, in California
II but SI63, ,581, 900.
Some of the best farming property
= the valley counties of the Sacramento
% being foreclosed upon by the banks
n satisfy mortgages which were taken
o less than 90 per cent. of their value Fl,
o years ago. We have a notable instan,
e of piece of property saleable five yea
,e ago at $4,000. upon which a mortga,
is for $50, 900 is being foreclosed, with evel
Of prospect that the bank will be the on
n bidder. The face of the mortgage b
g. not declined, but the value OF all the pr
10 ducts of the land has gone down steadi
N with the increase in the purchasil
Or power of gold.
10 Silver mining was prolific source
a. wealth to the city of San FrancisC
2. With its subsistence 100000 miners ha
is been thrown out of employment in t
,e silver States of Nevada, Colorado a