The herald., 1897-06-13

the business depression Of the country
and the decrease In valuation all over
the world. this increase In wealth II
not 80 apparent. With the extraordi-
nary increase In population and wealth
in Los Angeles city during the past sew
en- years, nothing short of financial
depression all over the country could
have prevented that city from expert
encing speculative boom OF great mag
nitude.
II Southern California in general and
Los Angeles city in particular can make
such showing during period of ffinan-
cial depression, what will be the result
when the clouds roll by and prosperous
times are enjoyed again throughout
the country at large?
1t Is a difficult matter to make the peo-
pie believe that our country is now
entering upon another period of pros
perity Each one has a remedy for hard
times. And each one sticks firmly to the
proposition that better times cannot
come again until his remedy has been
applied. These remedies are most
| ly of political nature. One
man believes that high pro-
tective tariff Is all that is necessary
to restore prosperity to the country and
another thinks the free coinage Of silver
and gold on a basis of 16 to l without
making any suggestions to any other
nation about the matter would bring
good times There is no question but
| that legislation on both of these ques-
tions or either of them will affect the
main proposition. Wise legislation will
always assist in bringing prosperity,
and unwise legislation will always re-
tard the coming of better times, but
no legislation, no matter what it be, can
prevent the incoming tide any more
than the little child on the sandy beach
with it's little shovel can, by piling up
ridge of sand. stay the incoming surf.
The country is today running into a
period of great business activity; 1t has
but recently reached that point. In
fact there Is difference Of opinion
among business men as to whether busl-
ness is improving or not-the improve
ment is so gradual. However, Dun Il
Co.'S Trade Review of June 5th says:
1.-The statement that. except for the
| temporary depression in prices the vol
ume of business transacted is now larger
than it was in 1S92-the year of the
greatest prosperity-has been ques-
| toned by some But comparison OF
prices this week in the leading branches
of manufacture, not only confirms that
view, but shows a remarkable similarity
| to the course of prices. in the early
months of 1879, when the most wonder
| full advance in production and prices
ever known in this or any other country
was close at hand. The key of the sit
uation is the excessive production Of
some goods in advance of an expected
| increase in demand. So. In 1879, con-
sumption gradually gained, month by
month, until suddenly it was found that
the demand was greater than the pos
sible supply. All know how prices then
advanced and the most marvellous
progress in the history of any country
resulted within two years. Reports
from all parts of the country now show
that retail distribution of products il
unusually large and increasing.
This is a remarkably clear statement
of the facts of the case, and Is evidence
from unquestionable authority that the
position herein taken Is correct.
Local conditions in Southern Califor-
MIA will affect the issue here, and they
appear in our favor The building Of the
breakwater at San Pedro by the govern
ment will insure another transconti-
mental railroad from the east to Los
Angeles via Utah. Then a 1-cent
pound tariff on citrus fruits, the building
of more beet sugar factories and the i'm
provement of the vast water" powers of
the mountain streams, and the setting
of that power to work building up and
enriching the country, all these and
more will help along the good work.
Capitalists are now active, laying the
foundations solidly for future opera
tions in this, Gods corner Of the uni
verse; and while we would not advise
people to stand still and see the saliva
ton of the Lord, still it is pretty cer-
tain that those who stand still will see
it, although they will not be benefited
thereby so much as they would be II
they didn't stand still.
| The coming boom is not here today
and it will not be here tomorrow, but
he who has no faith that period OF
very busy business activity. accom-
panied by speculative boom is close at
hand, would do well to place himself
under the fostering care Of a good re-
liable guardian. l.. M. n.