The San Francisco call., 1906-05-05
NEEDS NO
HELP FOR
REBUILDING
San Francisco Does Not
Require Outside
Financial Aid.
City Still Rich Enough to
Pay .fOr Its Recon-
StruCtiOn.
Clearing House Committee
Issues a Statement to
This Effect.

=
Several events took place yesterday
of large Importance in connection with
the banks of San Francisco. The ex-
ecutive committee of the San Fran
cisco Clearing house adopted dec
laration that while there will be an
opportunity for the exercise OF char
ity in the cases of certain members
of the community the business inter-
ests of the city, as such, do not need
charity to aid them in rebuilding the
city
The directors of the Wells-Fargo Ne
yada National Bank and the directors
Of the Union Trust Company voted not
to call in any loans and not to raise
the rate of interest above the low rate
current just before April IS.
The National Bank of Chicago tele-
graphed an offer to G. w. Hellman to
loan 100000 4Er. Hellman respond
ed. with thanks. that the money was
not needed by the banks.
The declaration of the executive
committee of the San Francisco Clear
ing-hoase is as feows:
The executive committee of the
San Francisco Clearing house has had
brought to its attention movements on
foot directed toward securing for the
city of San Francisco financial as
sistance from Congress or elsewhere.
While these measures are doubtless
intended for the best interests Of the
city the committee is satisfied that
some of them are ill-advised. and that
sight has been lost OF the distinction
between what could properly be ex-
pected for suffering people in the
way of charity, and what the business
community can count upon as fair and
reasonable financiering.
'AlthouAh the cases of actual des-
titution due to this unparalleled catas-
trophe have so far been minimiZed by
the magnificent efforts of our friends
in other places there Will come time
dividuals who have lost their all in
the fire or who are temporarily with
out employment during the internal,
in which the aggregate may become
the sympathy and beneyolence of all.
Our own citizens will hardly be in a
position to respond literally and there
will undoubtedly be continuing op-
eortunity for more distant friends,
which could very properly be brought
to their attention Contributions for
this purpose should be distributed
through regularly organized channels,
In order that they may go where they
will do the most good and work the
least harm upon those weaker mem
bers OF the Community whom injudi-
ciouS or unorganized beneyolence
might tend to pauperize.
ION the other hand the committee
feels that the business interests, as
such, do not need charity to aid them
in rebuilding the city,, With $780,
100000 or more to be received from
the insurance companies. the banks in
d StTOuS, SOlNcut SOuulllOIl,
harvests promised in the State and
general underlying business sound
any further financial help should be
looked for only on strictly business
principles. In other words, since the
insurance indemnity will largely re
place the destroyed buildings as well
as stocks of merchandise and our
banks be able to meet general require
ments, individuals or institutions who
may come to find it necessary or ex-
pedient to apply to outside sources for
loans should do so, as occasion may
arise, on the usual basis of good Sc
curity. We cannot rebuild in a day
We shall shortly have more money
that can be Immediately used; so il