he coast, from Los
Angeles to San Diego and beyond, was staked out in town lots. The
wonderful climate was everywhere, and everywhere men had it for sale,
not only along the coast, but throughout the orange-bearing region of
the interior. Every resident bought lots, all the lots he could hold.
The tourist took his hand in speculation. Corner lots in San Diego, Del
Mar, Azusa, Redlands, Riverside, Pasadena, anywhere brought fabulous
prices. A village was laid out in the uninhabited bed of a mountain
torrent, and men stood in the streets in Los Angeles, ranged in line,
all night long, to wait their turn in buying lots. Land, worthless and
inaccessible, barren cliffs' river-wash, sand hills, cactus deserts'
sinks of alkali, everything met with ready sale. The belief that
Southern California would be one great city was universal. The desire to
buy became a mania. "Millionaires of a day," even the shrewdest lost
their heads, and the boom ended, as such booms always end, in utter
collapse.
Mr. T. S. Van Dyke, of San Diego, has written of this episode: "The
money market tightened almost on the instant. From every quarter of the
land the drain of money outward had been enormous, and had been balanced
only by the immense amount constantly coming in. Almost from the day
this inflow ceased money seemed scarce everywhere, for the outgo still
continued. Not only were vast sums going out every day for water-pipe,
railroad iron, cement, lumber, and other material for the great
improvements going on in every direction, most of which material had
already been ordered, but thousands more were still going out for
diamonds and a host of other things already bought--things that only
increase the general indebtedness of community by making those who
cannot afford them imitate those who can. And tens of thousands more
were going out for butter, eggs, pork, and even potatoes and other
vegetables, which the luxurious boomers thought it beneath the dignity
of millionaires to raise."
But the normal growth of Los Angeles and her sister towns has gone on,
in spite of these spasms of fever and their consequent chills. Their
real advantages could not be obscured by the bursting of financial
bubbles. By reason of situation and climate they have continued to
attract men of wealth and enterprise, as well as those in search of
homes and health.
The search for the unearned increment in bodily health brings many to
California who might better have r
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