Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-09-10

From the first settlement OF Utah
there was considerable commercial activ.
It's, many OF the Pioneers being men OF
energy, enterprise and business eNper.
fence. For some yeats, however, the
people labored under great disadyan'
tages for the lack OF a circulating
medium, and to relieve this public incon.
vcuicncr an effective expedent was re-.
sorted to, which answered the purpose
for which Il was designed, which was
merely temporary. In 1919 a currency
similar 10 bank bills was issued, bearing
the signatures OF Brigham Young, Heber
{. kimball and Thomas Bullock. These
bills served the purpose OF medium OF
exchange, facilitating commercial trans
actions. A few months later, gold dust,
which had become somewhat abundant
being brought hilhcr from California, was
coined in denominations corresponding
10 those issued by the government, and
these e ms passed readily and without
discount. They were made OF virgin
gold, and within few years disappeared
from circulation, being turned into the
government mints as bullion. An inter-
esting collection OF specimens Of these
gold coins Is now on exhibition In the
public library at Omaha,
HARLY MERCHANTS.
The first store OF any size in Salt Lake
| City was that Of Livingston * Knkoad,
which was established In the year iS49,
wth capital Of s1oooo. The store
building was situated on the same blocl;
where now stands the Seventeenth ward
meeting house. II was long, low,
adobe structure, and belonged TO John
Pack. In the following year (iSsol
| Holiday * Warner opened a small store
near the Eagle Gate, and II was not
until 1854 that what is now Main street
became recognized as the business center
OF the rapidly growing city. In the last
named year several stores were built on
that street, hut before that the few stores
in the city were scattered Ia various parts
| OF IL.
Among the merchants who lourished
| during the early 'hities were John and
Enoch Reese; ]. NJ. Homer & CO., who
were succeeded by Hooper * Williams;
Gilbert & Gerrish; William Nixon, who
was called the father OF Utah merchants
on account Of having had in his employ
a number OF men who afterwards entered
mercantile life; Walker Brothers. still a
prominent firm In this city; II. w, Law
/ renee, now one OF our most active bust.
ness men; George L. Bourne, who Tor
many years hes held q responsible posi-
ton in T.. { NJ l.; lanes Ncedham;
John Chislett, David Candland, and
Others whose names are not 50 readily
called TO mind.
COOPERATION ESTABLISHED.
So much capital was required for en-.
| -. tfFatsaHHH ia
early pioneer days that there were few
men in the community able TO launch out
In H. The result was a practical mon
opoly OF mercantile business which was
controlled by few persons, and which
continued for many years, and proved
extremely burdensome 10 the people
With a view to relieving this situation,
President Brigham Young devised and
caused to be established, In the year
1868. a grand system Of cooperation, by
which all the people who cared TO do SO,
had an opportunity OF becoming pIoht'
shareB In mercantile enterprises Ihis
cooperative system quickly spread 10 all
the larger towns in the Territory, and The
result OF the establishment Of Il was inn
mediate and highly beneficial inreducing
prices OF merchandise.
Shortly after the establishment OF
co operation, the railroad made rs adj
vent into the Tcrri,ory, thus enabling
persons and firms OF limited means 10
import stocks OF merchandise; and since
that time, while mercantile business has
paid fair profits, It has not been mon
opoly, nor have prices, all things consld'
cred, been oppressive ON the people.
COMMERCIAL GROWTH.
! During the past fifteen or more years