The San Francisco call., 1896-01-23

pends upon the country, and the country
in turn is dependent upon the city
hence when the country is rendered un.
productive by reason of droughs or other
ADVERSE conditions, the city'S financial
| ~ mtparAets become stringent. This state o1
tnlhgs continuing time at length arrives
When capitalists, seeing no chance of early
returns, commence to become very chary
IN making money advances to farmers.
The result is hard times, or a general
paralysis, financially speaking, which may
involve many individuals and firms, pro-
ouclng condition the reverse of pros
porous.
AT present, however, it seems we may
look Tor better times. This rise, if it be a
normal healthy one, as it surely seems TO
be, must result in greatly improved state
OF things. The demand for grain lncreas-
ing, farmers will be stimulated TO make ef,
forts; which, owing to encouragement and
ql1ndence OF success, they have not yet put
lorth. As the country business increases
IN volume and acquires more stability the
capitalists and banking-houses will display
more readiness to loan funds and money
Will circulate more freely. This is the re-
suit have always noticed under similar
conditions which | now anticipate"
At the San Francisco Savings Union
practically the same views were expressed.
Lowell White, the secretary and cashler,
and William ]. Smith, the loan teller. both
seemed of the opinion that better conql-
ton of affairs would soon dawn Tor the
City and State Mr Smith, who did most
of the talking, and who, to do him justice,
did it very well, despite the fact that he
was reluctant to speak for publlcaIlon,
said among other things:
'These farmers have been having a
dreadful time for at least three years.
They have done their best and in many
| +fa haT, ,t~cx
called upon for loans. Far from repaying G
these advances the farmers have generally
had all they could do to pay interest and
taxes. Sometimes they have carried on
! their business, if not at positive loss, at
| least with no profit to themselves or to
/ any one else. This sort of thing makes
capital coyly retreat into the capitalistic
| pocket rather than go on fishing expedi-
| tions out into the country.
Now the prospect looks brighter. The
practical failure OF the Australian wheat
crop and the consequent demand for the
Californian product will cause hope to
spring up anew in the farmers breast and
make him do his part to bring about bet
ter state of things. Even now If wheat
growers will SOW before the 1st Of February
there is every hope for an abundant yield,
with no fear of an OVERSIZE cked market.
Capital invested in aiding farmers at this
juncture must secure liberal returns. 1t
looks as though we might predict cessa-
ton of the reign of hard times in the
near future"
a. H. Lissak of the firm of 0. F. Won
Rheln q Co. was rather cautious in giving
his opinion.
"If this rise is bona fide." he said, 1--WE
may expect good results; but before we
can build any hopes upon it we must be
sure that the increase in values will be
steady, advancing surely, or at least, not
not fail to have beneficial effect upon the
financial status of the State. Confidence
will be restored in all branches of trade
and finance. Real estate values in City
and country will rise, since country lands
will be more valuable for their increased
productive worth while City properties
will fetch a better price, owing to the fact
that money circulating more freely, trans
fers of City real estate must he more fre-
quent and of greater magnitude"