The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-10-18
pR1oKs OF BUILDING MATERIALS IN SEPT


led TO the use of inferior materials and work
manship in the erection of buildings. lower
class OF timber, imperfectly seasoned lumber,
and inferior materials of masonry and furnish
ing have been in greater demand. The scarcit y
OF labor has also necessitaed freer employ
ment of inferior workmen, and at the tull rate
of wages. AS a consequence, large proportion
of the buildings now being erected are of a class
less adapted for durability than formerly. In
fact, the exhaustion of the supply of well-sea-
soned lumber has caused an advance IN that
kind of material out of proportion to that OF
other descriptions; and considering that lum-
Der, to be well seasoned, has to be kept tive to
seven years, it is apparent that a considerable
time must elapse before the market can be ade
quately supplied. This probability is all the
greater from the circumstance that dealers will
be reluctant to buy, at present rates, stocks. to
to be held for years, IN the Iace OF a sweeping
decline in values during the interim For this
reason it would seem reasonable TO anticipate
that, TOR somewhat protracted period, build
ing is likely to run largely upon second-class
eIectons. This is one of the thousand disad-
vantages flowing from the arrangements CEN
sequent upon the war; unnoted by the common
observer, but which really tell very materially
| upon the comfort and welfare OF the COM
munity.
''To the very common inquiry What is likely
| to be the future course Of values connected with
| building the obvious answer would seem to be
| that the cost must be controlled in great
part by the same considerations which deter
| mine the value of products generally The
| question is, perhaps, chiefly one of wages The
| cost of a building depends not merely upon the
rate paid for the labor employed in working and
putting together the several materials, but still
more upon the wages paid for the production
| and transportation of those materials. In fact,
| it may be said that the principal cost of build,
ing resolves itself into wages and interest upon
the capital employed in its production. 1t can
| scarcely be argued that the great scarcity OF
| dwellings, by necessitating demand for more
| houses, will tend 10 keep up the cost after com
| mOdities have begun to decline; for there is the
| same comparative scarcity in products generally J
| as exists in relation to buildings. IT., then
| there is reason for anticipating decline in
| wages, there is ground for expecting a fall in
| the value of house property. That the price o.
| labor must be reduced Sthere win be no ques
| ton; but there would seem 10 be little reason
for expecting that the decline will be immediate
or that it will be otherwise than steady anC
| pro tracted.
"We could wish it were possible L
| present a more satisfac tory prospect as to thu
future cost of building, for the current hig
rents have very direct tendency to support
| tRe preyalllng high wages, and the heavy cos
| Oh erecung buildings for industrial purposes ne
cessarhy cnecks investment in new manufac
turing enterprises The marvellous recupera
tive power OF the country NAV however h
relied upon to work out an cartier JeIief won
the restrictions upon building operations thai
would occur, under similar circnmst3ncos .n T. !,
any other country NS7' y