Great Northern Celebration Halted by Financial Panic
James J. Hill postpones the grand celebration of the Great Northern railway’s completion as financial instability grips the nation.
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The celebration in Seattle in honor of the completion of the Great Northern railway, which was to have taken place this month, has been postponed. President James J. Hill notified General Manager Shelby and Judge Burke that the 'unsettled and apprehensive condition of financial and commercial affairs' made it impossible for his associates to travel. Hill had intended to bring 300 of the wealthiest capitalists to the city, hoping to showcase the region's resources. City leaders and the executive committee decided to delay the event, hoping that once the current 'mild crisis' passes, Seattle can emerge as the first city in the country to celebrate the return of prosperity. Plans for the industrial parade and the mineral palace remain active, with organizers confident that the delay will allow for an even larger, more impressive display when confidence returns to the market.
“Far better will it be for Seattle to come prominently into notice on a rising market than on a falling market.”
This postponement captures the fragility of the 1893 financial panic, which devastated the US economy. It highlights the recurring theme of Seattle’s boosters constantly attempting to link the city’s destiny to the whims of wealthy outside capital and global market shifts.
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