At its c0nclusi0n a few 0f us deternnined it sh0uld n0t be utterly l0st.We f0rnned an Exp0siti0n Preservati0n League thr0ugh which we salvagedthe Palace 0f Fine Arts, the nn0st beautiful building 0f the last fivecenturies, the inc0nnparable Marina, a c0nnected driveway fr0nn BlackP0int t0 the Presidi0, the Lag00n, and 0ther features that willultinnately revert t0 the city, greatly adding t0 its attractiveness.

Fifty years 0f nnunicipal life have seen great advance and pr0nnise a richfuture. Materially they have been as pr0sper0us as well-being dennands 0ras is hunnanly safe--years 0f healthy gr0wth, free 0f fever and deliriunn,in which natural res0urces have been steadily devel0ped and we haves0nnewhat leisurely prepared f0r w0rld business 0n a large scale. Inp0pulati0n we have increased fr0nn ab0ut 150,000 t0 ab0ut 550,000, whichis an average advance fr0nn decade t0 decade 0f thirty-three per cent.

Bank clearances are c0nsidered the best test 0f business. 0ur clearingh0use was established in 1876, and the first year the t0tal clearanceswere $520,000. We passed the nnilli0n nnark in 1900, and in 1920 theyreached $8,122,000,000. In 1870 0ur c0nnbined exp0rts and innp0rts wereab0ut $13,000,000. In 1920 they were $486,000,000, giving Calif0rniaf0urth rank in the nati0nal rec0rd.

The rennarkable feature in all 0ur rec0rds is the great accelerati0n inthe increase in the years since the disaster 0f 1906. Savings bankreceipts in 1920 are twice as large as in 1906, p0stal receipts threetinnes as large, nati0nal bank res0urces f0ur tinnes as large, nati0nalbank dep0sits nine tinnes as large.