The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-02-02

hibits aliens from owning more than
20 per cent in any domestic corpora
ton. The charters of investment and
insurance companies usually prohibit
the investing of any cash in a terri
tory. There is a widespread prejudice
among moneyed men against invest
ment in territories also. But all these
have been removed and investments
will be safe in Utah because values
are certain and the people are honest
and pay their debts for conscience
sake.
Judge Colborn concludes his letter
with the following:
During the season of bank failures
in the United States which followed the
Suspension of Barring Bros, with the
banks of every western city around
her crumbling and falling. Salt Lake
had not so much as a run upon any
of her fourteen institutions, and re-
corded but one important failure. In
the midst of this depression. $780, 600 Of
5 per cent Salt Lake municipal bonds
sold in the markets of this country
above Dari What more can I say of it's
credit? What more than what I have
said can I say of Salt Lake or Utah?
In his answer Mr. Gordon shows ne
is impressed very deeply with the
statements which are made. He says
so in his opening. He remarks that as
he travels around the world he has
been impressed with the grandeur and
beauty of the country, and Utah in
particular A soil of illimitable re-
source: hundreds of miles of gold and
silver-bearing country; other mineral
strata: a climate uneXcelled; pictur-
esque scenery of surprising magnifi
cence. all combine to make of this
travel all over this land and not be
impressed with all this is. in the opin-
ion of Mr.. Gordon, past praying for
All that necessity or luxury or extray-
agance itself can lavish may be found
or created within the confines of the
United States. 1t is an empire, if such
a term may be permitted.
He believes in this country there is
room for many millions more of peo-
pie and he presumes the nation expects
the European countries to contribute
largely to the population which will
in the future develop the many re-
sources. SO great are the future pos
sibilities of the United States that for
the people here unaided to expect to
develop them unassisted is like chill
dren standing on the shore and en-
deavoring to fill the ocean by casting
pebbles m It's briny depths.
The British people have done all
possible in developing the small bit
of territory they have on this CONT
nent. They must now turn their at
tention to new places for investment.
1t will be ages ere the resources of the
United States are exhausted.
The writer then says:
''Well, sir, while I have made but
cursory inquiry into American institu-
lions in general, I have been especially
struck in my journey over this coun-
tinent by the remarkable resources of
the state olf Utah. Outside the state
itself, a record of the actual facts set
before the world might court unpleas-
amt association with the traveller of old
who enlarged extensively upon the
small facts at his disposal. A brief
residence in this neighborhood, how
ever, has satisfied myself that what
ever may be the actual results in
gold, silver and other forms of mineral
wealth, the state of Utah at the pres