Jerry Summers
In a previous article (Chattanoogan.com) a reference was made to the above historical novel by author, Alfred Leland Crabb (1884-1979) who wrote a 308 page quasi fictional version of “boom time” during the ten year period in Hamilton County from 1878-1888.
The often cited saying of Spanish poet George Santayana (1863-1958) (and others) that “those who ignore history are doomed (condemned) to repeat it is may have application to similar periods of growth and/or economic destruction as to what our community will be in the future?
The reference to the aforementioned past is copied verbatim from p. 148-149 of Crabb’s book:
“Chattanooga’s boom was almost as sudden and, in a way, as devastating as had been the plague, long before. Without obvious reason the people began to buy property, to buy it eagerly and to pay beyond/all reason for it. Within the short space of weeks houses doubled in value, and no one knew why. Residents who owned good houses began to burn with a fever to purchase others. The banks caught the contagion and lent their encouragement and money. People came from the outside, sometimes from a considerable distance, attracted by the feverish reports that had spread of the town's prosperity. Usually in coming they had but one purpose to make their quick and sure fortunes. They came by train and steamboat. They came in carriages and on horseback Word had gone out that Chattanooga was a place of great riches. Some who were drawn were good people who merely wished to avail themselves of a favoring tide to honest fortune. Others were shifty-eyed and devious-handed opportunists. And they came together on the same train or boat.
"How long will it last?" Clay Blevins asked his partner in the manufacture and sale of bricks.
"Maybe a year."
"I'd say not so long. Six months would be my guess or even less time." "What makes you say that?" the Yankee asked curiously.
"Chattanooga isn't ready for anything like this. I don't know of any reason for it to get so excited, to grow so fast. The town is bound to grow. It may someday be one of the country's big towns, but that's a long ways off. Anyhow, I hope it is."
It was a long speech for Clay to make. David De Young looked at him in surprise. "What makes you say that?"
"I've been hearing Ma say, as long as I can remember, that the only sure growth is slow growth, and Ma is hard to fool. Come quickly, go quickly, is one of her sayings. No, we'll sell people all the bricks they want to buy and can pay for while this is going on, but I'll be glad when it settles down. Until then it's going to take cash to get our bricks."
"I've been offered twice as much for my Missionary Ridge property as it's worth, but they want to give notes for it. It's for sale, but nothing but cash will get it."
And cash did get the ridge property-so much cash that it sur prised even De Young. "They can't say I didn't warn 'em I'd be buying it back for half they paid. They thought it was a joke and grinned. Well, I hope they keep on grinning.”
(Whether it is applicable to the perceived “boom” conditions in 2024 is left to the subjective opinion of the viewer.)
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If you have additional information about one of Mr. Summers' articles or have suggestions or ideas about a future Chattanooga area historical piece, please contact him at jsummers@summersfirm.com)