The San Francisco call., 1906-12-23
HOME CAPITAL IS
BUILDING CITY
On Her Own Resources San
Francisco Is Now Rising
at a Marvellous Stride
FUTURE Is BRIGHT

It was not till Saturday April "a,
four days after the fire, that the ex-
tent Of the disaster began to be real
lied by the residents Of San Francisco.
It then looked as if the end of things
had come.
But through all the gloom the spirit
OF hope shone out Business men and
professional men never for a moment
doubted that the city would be re-
built. So far did this spirit carry them
that the declaration was made re-
peatedly that inside of five years all
traces Of the disaster would be obliter-
ated. and that the new San Francisco
would be larger and more beautiful
than the old city.
It was this buoyancy that kept peo
pie from fretting over their lost pos
sessions and enabled them. TO under
take the task OF rebuilding with the
conviction that all the world must pay
tribute to San Francisco.
HOME CAPITAL SUFFICIENT
A variety Of propositions were ad-
vanced 10 secure money for the re-
building Of the city. Federal aid was
suggested, and the project Of seeking
funds from Congress was seriously de-
bated It was said that San Francisco
would have TO secure aid from the
East and that without this assistance
the city would be at a standstin But
such a view Of the situation was
erroneous. The rebuilding has been
undertaken with san Francisco money.
and all the talk Of the need Of aid was
idle.
In the circular published by Thomas
Magee & Sons for this month is the
following, which proves the strength Of
the belief Of the people in their city:
san Francisco is being rebuilt with
san Francisco money. All Eastern
money which was talked of in the days
succeeding the fire has not material
ized, and the rebuilding OF the city is
going aheadson money furnished by our
local banks. The cost Of building at
the present time is excessive, but not
withstanding this, there are enough
owners here able to finance and build
despite the high price of labor and
materials"
WAS AT PROSPEROUS ERA
san Francisco had never before at
tanned such an era of prosperity as she
was enjoying prior TO April Is There
was building on every hand. Her mer-
chants were never in such afiuent cir
cumstances. Conservative business men
like Leopold Michels told hearers
TO beg or borrow and buy real estate
never mind where, within the city
limits.
Not a month passed but the conf
Dental agents of Eastern syndicates
arrived here for the purpose of looking
into investments. Eastern capital was
building the competing gas service;
Eastern capital was projecting a new
water supply for San Francisco; East
ern money was building on the very
borders Of the city an enormous
smelter which would give work to
hundreds Of people; Eastern money
was behind the Western Pacific, a road
which would prove a mighty factor in
the development of the city; Eastern
capital was not only seeking invest
ments in this city itself. but it was
making large purchases of all manner
or properties in the country. all tend
ing TO the ultimate benefit Of San
Francisco.
The development Of the mines in Ne
vada made a new class Of millionaires
and they came to San Francisco to
spend their money and to buy mining
machinery and eli manner Of supplies.
The stores were feeling the impulse Of
this trade OF. people IN search OF
luxuries.
New seaside resorts were springing
up which looked to San Francisco for
support Artists from all over the
world We're anxious TO play before San
Francisco audiences. and on the night
before the fire the Grand -Opera-house
had never before held so wealthy an
audience. The steamship companies
for Europe had never had so large
booking lists and the passengers were
paying for the best of accommodations
In the midst Of the era Of splendo1
and vitality San Francisco was stricken
down as If by a deadly assassin
POWERS OF REcUPERATIoN
One Of the strangest features of the
situation was that the men who owed
money on their real estate were as z
rule more hopeful than those who were
free Of mortgages. And this is ex-
planned by the fact that the men whc
have energy to DO things are invariably
the borrowers Magee put the situation
correctly a short time after the fire
when he said: TT is because they ars
IN debt that they hustle; their being
in debt is a good thing just now and
win result to the benefit OF the city
To demonstrate the confidence thai
our people have in the city the follow