The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1863-10-31
EFFECT OF THE WAR ON REAL
ESTATE

as ruled in 1854, ten years ago. The
wealth Of the country, in the meantime, has
more than doubled The census shows an
increase in wealth, between 1850 and 1860,
in all the States and territories, 1873 per
cent, the increase of population being 354
per cent. VIII real estate soon take an up
ward movement? Many and various reas-
ous seem to favor the expectation of a
speedy and great advance in that direction.
The fact of its having remained stationary,
or nearly so, since 1853, and the habit it
has in this country of going up by great
leaps, may wei lead US to expect an active
upward movement very soon, independent
of additional accelerating causes. Some Of
these causes will be briefly suggested.
The change from long peace to great
war, calling for immense additional public
expenditures, and the feeling natural to the
holders of capital, in this condition of af
fairs, of insecurity in most kinds of per-:
sonal property, naturally lead to investments
in real estate, the most stable OF human
possessions. Up to this time, however, the
temptation TO use money in the purchase of
personal property, which in the shape Of
bonds, stocks, &C., has been rapidly appre
ciating under the stimulus of large aug
mentation of the circulating medium, has
drawn the capital not needed for business
into the vortex. The operations in this d.
rection have carried up paper securities
nearly, if not quite, to the highest point at
which they can be probably sustained.
The Government, since the war. has added
more than one thousand millions to the
floating capital. The use of this, with other
operating causes, has added not less than
two thousand millions to the estimated val
ue of available securities-of railroads, ca
nails, mines, manufacturing establishments.
and other stock institutions. 1t is probably
not an over statement that the available cir
culating capital of the country has been
augmented by three thousand millions dur
ing the past two years, and that two thous-
and millions have been added during the
past year.
There has probably never been so favor
able an opportunity for good permanent in
vestments in the realty. That speculation
therein, both reasonable and wild, is immi
nent, is no reason why the occasion should
not be awaited of by men of capital to place
their money where it will be most safe and
remunerative. There is always the strong
est tendency to overact In the most profta-
bic direction, and to counterfeit that which
will be of the greatest value.
In what kinds of real estate, and where
situated? It is pertinent to inquire before
deciding on this kind of investment. The
kind should be ground in or near a growing
city. Why? Because the tendency Of pop
ulation aud of growing wealth, in this coun-
try, to congregate and concentrate in and
near cities, is exhibited more and more by
every succeeding decennial census. The
whole country from 1850 to 1860 increased
in population 355 per cent. The ten larg-
est seaport cities Increased SO per cent; the
ten largest interior cities increased 70 per
cent; the ten largest interior river cities IS
per cent. Of these lake cities the increase
of Chicago was 265; of Toledo $50; Mil
wIukee 1876; Detroit 1T, and Cleveland
100. If these figures give fair represen-
taton of the law Of their future growth, OF
which the reader must Judge for himself,
they afford a reasonably safe basis for per
sons DESTROYS of making investment in or
near cities.
Impartial investigation will probably re-
suit in the conviction that the leading cities
Of the great interior plain are likely to have
in the future, as they have had in the past,
more rapid growth than those on the At
lantie border, and that the leading cities on
the great lakes will continue to exhibit a
more rapid growth than the leading cities
or the great interior rivers. The commerce
of the great plain more and more seeks the
lake ports in preference to the river ports
Of this fact any one can get the proof by
examining the commercial reports during
the last ten years Of the cities of st. Louis
and Chicago, and of Cincinnati and Toledo.
As between the old and new States the bal
ance Of population is already slightly in ia
vor Of the new.
At the same rate of increace as from 1850
to 1860, these sections will contain in 1870:
The Atlantic States 1928. 512, and the
new States 24.I7O.084. At present the
urban and suburban population of the old
free States constitutes about ne-third of the
whole number; while in the new free States
about three -6fths are engaged, directly or
indirectly, in the cultivation of the soil
This disproportion is in process of rapid
reduction. The increase of capital engaged
in manufactures from 1850 to 1850 was; In
the New England States 81 per cent: in
the Middle States 81, and in the Western
States SO. The per centage of increase of
hands employed in manufactures was: In
New England As males and II females; in
the Middle States 50 males and 80 females;
in the Western States 55 males and 90 fe
males. If manufactures under $500 had
been included, the gain of the Western
States would have been in still greater proper
ton. The lake cities drawing commerce
most largely from the great river valley are
Chicago, Toledo and Milwaukee, and in the
order of their names.
The above indisputable facts plainly indi-
cate these cities as the centers of the best
/ fields for profitable investments in real estate
provided anticipated values have not al
/ reaIv ooada tba Drica tn bi0b There are