Daily Richmond Whig. [volume] (Richmond, Va.) 1865-1869, 1865-06-08
WING.
wM. IRA SMITH, Proprietor.
THURSDAY MORNING.. JUNE s, 1866
Our Grsat Want.

The paramount want Of this community,
at present, is capitalize wherewithal to re.
build the burnt district. Until we have an
influx OF capital, or until the building lots
pass into the possession Of wealthy men who
win improve them, we will look in vain foI
the signs Of that reconstruction Of stores and
warehouses so eagerly wished for by our peo-
pie.
Il is alleged that capital has been repealed
by the extravsgant prices demanded by the
owners for their lots, when approached BY
persons desiring to buy or lease. We fear
there is much truth in this assertion. But
this excessive valuation OF building lott
should not frigbten away capital altogether
from our city. There can be safe and
pr 'iLable investments without the pur.
chase or lease Of real estate. Th,
owners Of lots in the burnt district, (l
some Of them) may Do naturally 10th to par
with their property whilst there is any pros
pect of erecting buildings thereon from then
own resources, but they would not be unwil.
lag to DorrnW q sum which would enabl
item 10 build at once, giving the lender 4,
hlndsOn- bonus, or Sha.e OF rental, beside.
paying the lega, interest, and securing III
pa, meut Of principal and interest by n
usual lien. IL there are capitalists friend!
to our city, lst them extend their aid in tn,
manner indicated, and they will fluid plent,
81 La ,.y,sr y--o vp,ff -l,9I,. ,,,,,t. ,it th,,
on iJera, terms, 10 some scheme of improve
mvni, which will secure a lucrative Teturi
iOI ID If advances, and yet leave the pro
prietary interest where II now is.
Soon af,eF the occupation Of the city b,
the national troops, We published a communi-
cation lrOm an iutellig, Mt citizen Gmilia
with the real estate interests OF Richmond,
in whcl the suggestion was made, that III,
City Council, when duly constituted under
the new regime, should negotiate loan will
Northern or foreign capitalists for a sun
sufficient to extend the requisite asSiStanc,
20 parties desiring to build upon lots oWne,
By them-thc city 70 take a lien upon thu
property thus improved. We DO not know
how far this scheme would be practicable
or expedient, and unfortunately it is quite
uncertain, AZ present, when the City Coun
Gil will be recognized. Nevertheless, We trust
that the idea will not be entirely ignored
whilst the burnt district presents its dreary
and desolate as Ject to the public gaze.
We must have more warehouses and store
rooms ere long, or trade and commerce viii
be diverted f,on Richmond to other centres.
The scarcity Of business houses has caused
an extraordinary advance of rents all over
the city, and the effect OF these high rent,
will be ruinous in the extreme. Tenants
are already beginning to find that they can
not afford to pay these rates, and the conse-
quence will be that many o; them who hav,
brought stocks Of goods here will remove to
other points where store-rO0m is more abun-
dant and landlords less rapscious.
These aud other considerations make II
the duty Of our prominent and Influential,
ei liens 20 exert themselves to attract CAPT
tai to Richmond-tO secure, if possible, the
means Of rebuilding the burnt district.