The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-03-06

| its philosophical innocence, It thought ir had
| exclusively. We viii oct of our big
pumpkins that ii they Will compare notes they
viii find that they RECESSED verbatim letters In
The ZANE handwriting. and accomp panied With
BE same fatiering pfivate note to the editor,
asking for an article on the subject from mia
own hand. II they will follow the thing up,
perhaps they will find certain characteristic
marks that viii indicate who, among their old
he new political dodge.
Material Progress OF the HIetr opolfs OF
New York.
The material progress of this city has been
always marked 10y wonderful oh ang.s aud mu-
| tations. At the present time there is a revolu
! siob going on in the value OF property and 10
| fetfts, all around us, mere remarkable than asy
which has taken place for the last fifty years
This is due a'saost entirely to the Contra, Park
which, when completed, and Tvs vicinity
adorned, AZ it Ia destined to be- with superb
private dwellings, will make this METROPOLIS the
meet splendid capital III the world equal to
Paris and superior to London in point ot mag.
n,fcepce and beauty of location twenty five
or thirty years ago ali the dry goods houses
were located 10 and about Pearl street ana at
mat time property ia shis region stood &C a com
parativety higher rate thao in any other portion
Of the oity. TIE dry goods trade, ia all its
Dra0ches, whether retail or wholesale. liz es-
sentaily a fancy business, and a, ways demands
the most fancy stores, commanding, OF course
fancy rents. higher ia proportion than any
other trade. While the dry goods business
WAS content with the more humble buildings
down town aqnarter OF a century ago nothing
less than palaces of marble will meet its re-
qu,remeuts now. 1t is q known fact that
wherever this trade centres rents are invaria.
oily higher than In other localities, Within
tie last ten years it has made two or three
migrations-from Pearl street to Broadway.
rs far as Chambers street, and again from this
boundary line gradually upwards. until now
it is centred mainly on Broadway, from
Chambers to Spring street. And thus we
find that within these two points property
is more valuable and rents higher at this day
han IN any other section OF the city. Down
wards from Chambers street, the Park, and Full
on street, rents and property are declining. For
example, the property under the HERALD estab-
iisbment for which the proprietor was offered
$50 600 four OF Eve years ago, would not now
bring more than $4,000 and so With ALL pro
perry in this region. Nine or ten stores in Pearl
street, owned by the late Stephen Whitney have
been uDoccupied for few years past. because
he would not reduce the rents below the old
standard; but now that they have fallen to his
heirs 1t is probable that they will be taken par
ties whose business can afford to pay fair and
moderate rent for them From Spring street to
Union square and Fifth avenue, there are
great changes also taking place. The cree
ton of the Fifth Avenue Hotel has effected con.
siderable influence upon the fashionable world
10 that quarter, and before many years Union
square will be surrounded by theatres concert
balls and other places of public amusement !;
while Fourteenth street and Fifth avenue, as far
I'D as the botel, will be given up to dry goods
and other fancy houses. Meantime the vicinity
of Central Park, and up to Washington Heights,
will be covered with splendid residences of our
wealthy merchants, professional men. and all
who can afford to maintain establishments suit
ed to that locality, while the middle classes
if we may use the term-will congregate be-
tween the Park and Union square
Such are the changes even now in progress,
and under their influence the value OF property
below Chambers street will probably return to
what it was ten or twenty years ago, and 1t will
remain permanently at that standard Property
in the neighborhood Of Central Park must
necessarily increase considerably in value as
the city moves in that direction. Plans have
been already projected for the construction of
magnificent hotel at Fifty ninth street, front
ing Central Park, and in a few years our Me-
topolitans and S. Nicholsses will have to
move up town If they expect to retain their
present patronage.
Such is the revolution in the material pro-
gress OF the metropolis, now onietiy but steadi.
ly going on, which, before ten years have
passed away, will have Effected an entire
change in the city, end a consequent variation
in the value of real estate and the rents of
buildings.
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MORE TrNKERNG AT TIE CHAarEn.-The city
charter is again occupying the attention of the
Legislature. Our Albany Solons are never
tired of tinkerirg the charter; ye. every
amendment seems only to make it worse and
worse. Oakley Hall. we perceive, is now in All
bany, with view to have it modified so as to