nama-Pacific Exposition gave strong faith in power to withstand
adverse influences and temporary weakness. When we can look back upon
great things we have accomplished we gain confidence in ability to reach
any end that we are determined upon. It is manifest that a new spirit,
an access of faith, has come to San Francisco since she astonished the
world and surprised herself by creating the magnificent dream on the
shores of the bay.

At its conclusion a few of us determined it should not be utterly lost.
We formed an Exposition Preservation League through which we salvaged
the Palace of Fine Arts, the most beautiful building of the last five
centuries, the incomparable Marina, a connected driveway from Black
Point to the Presidio, the Lagoon, and other features that will
ultimately revert to the city, greatly adding to its attractiveness.

Fifty years of municipal life have seen great advance and promise a rich
future. Materially they have been as prosperous as well-being demands or
as is humanly safe--years of healthy growth, free of fever and delirium,
in which natural resources have been steadily developed and we have
somewhat leisurely prepared for world business on a large scale. In
population we have increased from about 150,000 to about 550,000, which
is an average advance from decade to decade of thirty-three per cent.

Bank clearances are considered the best test of business. Our clearing
house was established in 1876, and the first year the total clearances
were $520,000. We passed the million mark in 1900, and in 1920 they
reached $8,122,000,000. In 1870 our combined exports and imports were
about $13,000,000. In 1920 they were $486,000,000, giving California
fourth rank in the national record.

The remarkable feature in all our records is the great acceleration in
the increase in the years since the disaster of 1906. Savings bank
receipts in 1920 are twice as large as in 1906, postal receipts three
times as large, national bank resources four times as large, national
bank deposits nine times as large.

There can be no reasonable doubt that San Francisco is to be a very
important industrial and commercial city. Every indication leads to this
conclusion. The more important consideration of character and spirit
cannot be forecast by statistics, but much that has been accomplished
and the changed attitude on social welfare and the humanities leave no
doubt on the part of the discerning that we have made grea