New-York tribune., 1901-02-23
TIE PASSING THRONG.

II wonder IL you people here in the East" said
George Carpenter. Of Council Bluffs. Iowa, at the
Hotel Manhattan yesterday. "have
AFTER THE any appreciation OF what we in the
BOOM West have had endure from
PASSES booms? They leave absolutely
pauperized country behind them
when they have once passed by. and it takes years
10 recover from their I'll effects. One day every
thing seems rosy land is selling fabulous and
ever increasing prices. new people are arriving
each incoming train. and monev is easy and there
Is & plenty OF f K t. The next m9ment the bottom tom
futuTe outlook becomes dismal Land IS drug
the market. The incoming trains bring no one,
high and scarcer than hens teeth and there YOU
are. probably saddled with property. upon which
only recently exPended. for ,so IT, went through the
never to be forgotten lesson We got SO hard up
finally that it got funny. Let me tell you of an
I'm 1898 the whole Northwest Territory was al
most in the throes Of financial dissolution. In the
enOrmou- building operations had been carried
the nSht had Been built. and those towns that had
stay had been enormously Overbut and
that followed The depression in the price OF silver
eulninated this great boom: ana swIng Jne pendH-
scarce. became practically unknown and the
gsper eeybs eeyybev nVss Ma SbF forced az to the
wall OF all the cities in the Northwest none were
th3Sng lusSa cSmmunity with Apparently the
wer Sf b Business aoo T Sack @
mud. Those who could leave went away; those
who stayed, stayed because they had to-"
Eighteen hundred and ninety-three the
blackest year knew" continued the speaker.
Matters finally got bad that
A LIGHT the Board OF Trade called a meet
THROUGH ing Of the citizens to consider ways
THE GLOOM. and means OF relieving the stress
Of the hard times and TO formulate
some plan that might bring about prosperity in
the future All Tacoma was there. and innumer-
tinsed with deepest dependency, and,
speaker after another got UP, told his tale OF
and made gloomy predictions for the future the
temper or those present grew more and more
solemn c.. NJ. Holmes president of that meet
ing. and wnen the speakers began TO abate in
number. having noticed that Frederick Reed known
North Yakima. was present in the audience, he
arose and said: We have young man among US
who comes from the lofty peaks OF the Cascades
We would like a few words from him Reed at
this time was ranching in the mountains, and he
had come TO the meeting in his work-a-day clothes
in fact. he didn't at that time have any others
He said in response to the presidents recognition
Mr. President and gentlemen Of the city OF
Tacoma: You may have noticed the melancholy
sion 10 their bosom. and the OF hangdog de-
tected appearance about che knees I wish 20
plain 10 this honorable body that this condition OF
down 20 worship my God In the Wilderness but
is wholly due to the crashes Of financial lightning
that playing all around For every time
on my hands and knees and creep by the window
20 avoid being by the cashier
That speech finished the period OF depres-
sion In TacOma-for IN showed them that they
couldn't better matters by being blue. it's end
they adjourned the meeting hilariously and spent
the balance of the day In trying to drink Puget
OF liquor sufficient 20 have filed Puget Sound had
II been placed therein"