Durango semi-weekly herald., 1901-01-04
SHORT REVIEW OF
BUSINESS CONDITIONS

| The school facilities are exceptionally
fne. Fine church edihces: amuse-
mont halls, lodges. hotels. club rooms.
etc. The banking institutions are well
! oused and thoroughly reliable. and
do an extensive business. Here is
lid the foundations of great cit ;
OF a substantial and permanent char
cter. Nature has done 1er part and
It rests with the people what Duran
Go's future will be.
In reviewing the past year from an
industrial, commercial, or material
standpoint it will be necessary to re-
fer to some years previous. that 4
clearer understanding may be had a.
The forces and circumstances that
| have operated to bring about the pres
cnt conditions.
1t is well understood by the older
residents cf our city ana county. that
the panic of '93 nearly crushed the
life out of enterprise and produced n
general feeling of dependency
throughout this region We had come
to believe that this was almost cx-
olusively a smelling point. that our
sole dependence for growth and pros
pcrity as a city and county was con
fined to tnis one industry. In addi-
ton the belief was general that min
| ing in the San Juan was dependent
| upon the restoration of silver rs Il
money metal at a value of Sl29 per
| ounce, and that without free silver
there could be no prosperity again
| IN Durango
While it is true that the smelling
industry is of vast Importance to us,
| and could not contribute to our wei
fare if the mining industry would close
down, yet it is not true that our sole
dependence is upon this one great in
dustry.
Fortunately, however, we were mis-
| taken in all our predictions and be
liefs on this subject. The mining In
| t,ustry Of the San Juan was not depen-
| dent upon free silver nor was it ey-
cldsively a silver producing district
On the contrary We have learned THAI
| Ct al the peoples of this great country
Of ours we are perhaps LEGS dependent
| on the restoration OF silver than al
| most any other section. And while
it is true this is a great silver pro-
| duoing section, it is equally true gold
| can be produced in great abundance
| and with silver rs by-product We
can compete with the world
But this does not change the fact
that our industries and growth were
| almost at standstill by reason of
the panic and our erroneous belief.
| The county at large was engaged III
solving the problem of hard times. and
debating ways and means to restore
general prosperity. AS n result the
administration of affairs of the gener-
al government was changed in 81 and
soon after the word drifted in that
there was evidences Of returning pros
perity We were slow to believe it,
so firmly had we become rooted in the
false notion that our prosperity could
only come through free silver
During '9S and SO there was little
perceptable change in our industrial
conditions. The business men, who
always have finger on the public
pulse, were, yet afraid to invest or
give encouragement to any new enter
prise.
They barely kept moving. Stocks
OF merchandise were kept down to
1t rely meet absolute demands.
money was pileG up in the banks
airaid of Investment. Everybody was
living in the present fearful that the
future was but a yawning gulf. Hous-
cs were vscated and real estate was
| -,
decrease and gloom and dispondency
has written in the faces of those re-
naming because their little all was
invested here
But during this period there was
something going on of which the gen
cIal public was not aware New die
coveries of gold bearing ledges and
: ems were being made in every part
Of our tributary mining districts.
| Development work was in progress
Through force of necessity the at
tention of the mines, was transferred
from silver to gold. For every silver
mine closed down two gold mines
were being developed.
There was growing up on the out
side an increased demand for building
materials of every kind. For fuel, OF
which we had an abundant store. For
hay and grain and all farm products
For wool and hides, and beef and NUT
ton, etc, etc.
Toward the latter part of 80 there
was an apparent stirring among the
dry bones. The mining region was
leaking a lragely increased production
of gold ores. Lumber mills were be.
ing equipped to meet the increased
demand for building purposes. Stock
luyers were looking around for stock
to increase their herds and supply.th
Gemand for fat cattle. Wool grower
were increasing their flocks because oi
the increased demand and price fol
wool. The smelters fred up addition
al furnaces. 1t was like awakening
cut of long and troubled sleep, bul
finally at the beginning of 1900, we did
awake to find the wheels of industry
uzzing all around us. And debate as
W. NAV the paugpe that -brOu0lt n