The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1897-12-19

es of our people than the lumber
trade. When times are brisk,
j and the people prosperous, when
money is plenty and command
ing only reasonable rate of interest,
the lumber trade is active and remu-
nerative, but let there come a strin-
gency in the money market, a lack of
confidence, or a feeling of unrest per-
wade the community, and the wood in
terests are the first to feel the depres-
sion and the last to recover.
The reason of this is easily seen. It
is the middle classes, the moderately
prosperous portion of our people, in
stead of the wealthy capitalist, on
which the lumberman depends for the
sale of his product. The millionaire
that decides to use his surplus capital,
when he makes an investment in real
estate seeks a downtown location,
erectS a massive structure of stone,
iron and glass, with hardly enough
wood in it to make a respectable bon
fire. But it is the man with small
means or moderate income that builds
up the suburbs of our cities with small
comfortable homes or dots the farming
countries with houses and barns. 1t is
this class that any f1uctuation in the
money market most quickly affects. A
shrinkage in trade for the small mer-
chant, or a curtailment of expenses by
| the large commercial houses, that re-
duces the salaries, or throws out of
employment the clerk, stops all such
| improvements and therefore affects inn
mediately the lumber dealer. There
fore 1 say that the lumber industry
is a very good barometer to indicate
whether a financial storm is at hand
or has passed.
| Now wnen we consider that there are
employed in The manufacture of linn.
Der alone in the Pacific CoastSSfafes
california, Oregon and Was&ington)
not less than 5000 men, earning as,
their annual wages about $50. e6Oo00, rt6k
tamention an aNny nearly,{if pot Tslte5
as large who aSGlenga.Sgd n carrying
this lumber in VESSELS and ShsndIing it
at the Hjfferent lpoiSs Of distribution;
when Wec ~-rqrthet reQSati ths d the fam
lilies 81 theSeonen make a4 aggregate
OF pot far troTp130o 100 pers41s' depend,
enc Up ggRso4g.:theiEsSd9aiIy IVA es, giSsss49ne
an IDEA idea ofsheW Var rea chipgHA thepros-
Perity IS era E1 Sssdyersityy of TIE lEpbSr in
a x sias ZSSiS mlsssA1rlrss tn.
year 1S$gSb9Nea>that abuut SV-I,er cent
of the 6fod6ehG Capacity of the N1iIis
beca]seI1lnbe1l 1SN StS7g5 MN n1Sn.
Se9aS, e. IL sdJ S|s s1S6psfi
ffiS6: !YRii!fbyss7 Pat s29gIfSeisG:at3nniRg
had 'Desnl2Sii sssa.l8 EedSct Iwsgsssp a
w66TRman to Ee::6a 65gEtSnd s 'E s.
getker, and the miilmSns sEH-rsapd-
ing hSndFsis of acres of yiSEin timber.
had nothing but stunsrs. todI91k =at.-nf
what he had forEaeT1yzc ldered VAL
liable property. ii I%-z~
With suSA12 state-of Expression and
darkness aawas ~Hot<difficult to dis
cover Nag first glihmer(6f light. as the
day stS1F arose,>yvhichIforetold the light
thaC Vas TO foll0w.( and was the har-
binSer Vf>the dawn ofprosperity which
had already Illuminated the horizon.
~ spirit of confidence has already
taken possession ofthe whole lumber
fraternity. and white rvSices have NOT
materially advanced, the demand for
the commodity Switch Always precedes
an advance iIlN'alue has come, and all
agree that anSarea of prosperity is al
hand. Nor is this optimistic view
based upon theory alone. Figures bear
out the statement and a comparison of
the following statistics will show that
our hopes are we'll founded. 1 quote
from the record of one department of
the lumber trade only, that of redwood,
! for two reasons:
First-It is California that we are
particularly interested in and redwood
| is peculiarly a product of California
and nowhere else.
Second-Because these statistics are
reliable, while those of pine or fir and
other woods must be more or less esti-
mated. 1 compare the last three
months with the corresponding period
of last year: