Arizona republican., 1907-11-06
PHoENIx, ARIZONA. NOV. 6. 1907
THE ONE UNDIsTURBED AREA.

The Republican recently congratu- lated Phoenix on the peculiarly favor able position it occupied in this period of unrest This position is still more strongly illustrated by events which have been happening in other towns of the territory. and in fact, in majority of the towns of the southwest, within the last few days.
 While at no point does it appear that there is an acute situation, the con- ditions. by one reason or another. have become such as to require banks to exercise unusual precautions for the husbanding of their cash resources. This state of things will be everywhere of short duration. financial experts are confident. but the fact that it exists at all is disturbing or at least embarrass- ing to the communities where it does exist.
 The banks at Tucson, and they are exceptionally stron", have found il ad- visable to restrict payment on checks. This precaution has been taken for the good of the community rather than for the good of the banks themselves and it sinSularly happens that the necessity for it. or rather, the advisability, arises from what has been regarded as one of the chief sources of Tucson's pros perity-its big Southern Pacific pay roll.
 The most astute financier of the Ancient Pueblo could not have figured out possibility of the payroll ever be- coming d source of financial embar- rassment to the community. Yet. it has become one to a certain extent, by a combination of events which never occurred before and will perhaps not occur again in the next thousand years. However troublesome this big payroll has become for few days We do not imagine that Tucson would con sider patiently a proposition to part with it. In fact, for the sake of such a perplexity as that payroll, Phoenix would consent to undergo any tribula- ton that may threaten Tucson.
 The fact though that Phoenix has no extensive payroll is one of the causes of it's present financial serenity, but the greatest, the chieftest cause is it's strong agricultural constituency. In the midst of the storm and furry which disturbs the country, this town and valley ride calmly in landlocked harbor-agriculturall landlocked.
 We may have sometimes complained that our surrounding soil. the richest on earth. was not making us wealthy fast enough. We may have longed for the great mines whose activity has created such towns as Bisbee. Globe, Douglas and Jerome. and we wish even yet that we had mines like those-but We would not part with our farms on which we have learned to depend more securely than ever.
 The agricultural strength of the Salt River Valley. far greater than it ever was, added to the unprecedented strength of the banks of Phoenix. makes a combination in which absolute confidence may be placed. That con fidence is absolute in shown by the business of the banks which has in- creased in the face of financial diff cuit-cs everywhere else. The local banks within the last two weeks have received more money ove- their coun- h.v space of time.
 Any comparison that may be drawn from the foregoing is not to be con- sidered odious to our ne ghbOring towns of the south and east. As is pointed out more fully in our locai columns. descriptive of the situation at Tucson. it is not in the slightest de- gree embarrassing and any restr, ction there that may seem advisable now. and which by the way cannot be of any local embarrassment whatever, will be removed on the arrival at New York of the golden tide from Europe.
 The people of Globe, Bisbee and Douglas may be made impatient b. delay but there is not the slenderes; cause for alarm at any oi those places. The millions of mach nerv about them may be idle for the moment; but il is there, ready to start into activity and there too. are the more than millions in the surrounding hills. In a short time 4 will be forgotten in those min ing towns that there ever was furry.
 To Phoenix this period Of stress out side Is a positive advantage. II will be heralded to tho world as one Of the few towns which never turned hair where there was never an uarestful