Daily capital journal. (Salem, Oregon) 1903-1919, 1919-10-01
THE SALEM BOOM.

THE Portland Journal refers to the demand for fruit
lands in this vicinity as "the Salem BOOM"
The phrase is unfortunate, for Salem not-boomng
nor with her calm indifference to fate and compacent
selfsufficiency, is she likely to BOOM Tempermentaly
she is agin it. Nature spill her bounes about her
and the state shower its tax roll her but Salem can
not help it and is unwilling Barks to opportuntys
proposals. fa
How can Salem boom, when her citizens refuse to-
supply housing accommodations for residents? How
can community gain rapidly in population, when there
are no quarters for homeseekers?
Boom has several meanings The Journal used the
word in the sense of rapid growth based upon the tardy
realization Of the merits of natural resources But boom
also means ito drum, sound empty BARREL and ito
cry with hollow note" 1t is the latter kind of boom
the hollow note of artificial initiation caused by clever
poitaton and capitalization which sooner or later
is followed by the slump Of collapse that Salem should and
must avoid.
The actual value of farm land based upon the pro-
tit it can be made to yield under average conditions The
speculative value is that based upon artificial unusual
conditions If hop Land selling on the basis of the
present market with hops at 70 cents pound would
have parallel to the inflated values at which fruit lands
sold in the orchard belts of the northwest in the apple
boom of decade ago High prices for land must be dis
couraged IT we seek the permanent prosperity of the set
tier and resultantly, of the city.
Vegetable, fruit and berry lands in the Willamette!
Valley in great demand because Salem industries now
furnish competitive market for the producer The grow
contract his yield in advance to be utilized in any
one OF half dozen great industrial plants thus stabizng
uncertain markets and become the victim Of railroad
lay, speculative sharks and commission vutures. Thus
Salem offers inducements to the producer than any
section Of the northwest and the intensive development
and payrols assured will force unwilling growth upon
Salem. ,
Salem can however, materially speed-up this legitim-
ate growth by providing needed housing facilities, and
stabilize it by dscouragng land initiation and speculation
The developer and worker is needed the specuator
and get-rch-quick boomer AS burned child breads the
fire. does anyone who has been through boom based
upon the initiation Of land values dread it's repetition We
cannot afford to handicap the producer by overcapta
zation of the land he is dependent upon
The Journals article follows:
Near Salem bought months
orchard in full bearing He paid lS6
After selling $4,000 worth
The
months is $2i960.
"A of about
he other day for 100000 1t bought residing in
M II comprised rs Of @ Of cherries and 60
,ed land The orchard the higher
ea to do with both sales.
paying
$500 the The 4yearold
this he
"Thcrc
nd half
hem neted 800
4
product selling
rested markets kown before The
o IS Wonderfully adapted fruit growing and the have
killed in the
slt is assumed that they prices profits
M always be what they that
Ultimately brig dhaster.''