The New York herald., 1870-03-07
REAL ESTATE MATTERS.

Present Conditions Of the Mark ket-GOId and
Real Estato-views Of Correspondent.
The market for real estate excepting somewhat
increased activity exhibits no features. Trans
actions were more numerous during the past week
than the previous one, as has been shown in our
daily reports OF sales and Indicate the same flrm
feeling, II without buoyancy, that we have before
noticed. The decline In gold during the week to
112a and the prospect OF It's going Off to par form
the subject Of much discussion In real estate as in
other financial circles and the influence 1t will leave
upon the market Is much canvassed Considering
the interest felt in this question, at this time we
make room for the following views OF correspon-
cent upon the relation between gold and real estate
as OF primary Importance to any other points that
might be touched upon:-
The article in the HERALD Of Sunday last on rents
in New York going up with gold and not coming
down with 1t suggests few thoughts on the sub.
ect by one having houses to let ana none to rent
This Is subject which interests large class OF citf.
zens, whose interests pecuniarlly ana other
Wise the HERALD is not slow In looking
after, and they always look TO 1t for in-
Tor bad and Its conclusions being arrived at from
an extended and liberal research after facts and
figures u s not to be wondered At that It's articles
on all subjects have o weight OF influence unsur-
passed by any other paper the writer is therefore,
Induced. through tins liberality Of the HERALD IN
u
differing from those referred Between gold and
real estate there 10 unquestl0nably relationship
such az does not exist between any other com.
modltles. Gold for The past eight years has been
commercial commodity, being bought and sold
the same as real estate. This was owing 70 the
engaged In the suppression OF gigantic re-
oellion. In times Of war ana revolution
ssse aoa besss got oaSaa, se 60 dsr
one locality to another, and cannot be 80 readily
converted INTO movable commodity as many other
species or property Owing TO this fact at the CON-
mencement OF our civil strife and for two years
after real estate 10 cities particularly was the least
desirable property Many citizens started first from
the cities to the scene OF conflict thus leaving many
houses without tenants and large numbers OF these
have never returned, many OF whom were skilled IN
the various arts OF constructing dwellings. and their
places nave not been altogether supplied, though
the city now by thousands exceeds the population
OF 1850.
The instability OF government initiates The price or
gold and Withdrawing IL from business crcu-
lating medium depreciates the value of real estate
under the force OF rebellion and revolution gold
went up to 1885, ana real estate, either TO sell or rent
was much below gold prior to the war. Take for
example, the dwelling which you mention as being
leased at $3.50 (Which was then considered as high
remit and take the average rate Of gold Tor 1864
Ol the years OF the lease, and reduce the $3.50
TO gold, and IL would be less than $3.50, when
woald no DOUBT be considered low rent prior
to the At this period, when The government
apparently least able TO sustain and perpetuate
It's existence. gold reached It's highest point and real
estate It's lowest; but 30 soon as the scale turned
would succeed In Overthrowing the rebellion and
establishing itself on more substantial and cndur-
Ing basis these two equally sensitive properties
began 10 swing the beam In an opposite direction
goid down and real estate up aud 1t has thus con-
tlnued, with little II any interruption. Both in taer
rise nave perhaps been accelerated by speculation
but 1t Is the stability instability OF the government
that Affects the value OF either.
Barbarism makes gold valuable; civilization COM
merce ana science particularly under government
ike ours has olrect tendency In times OF peace to
elevate the value OF real estate. Every means OF
VyTu nj tyh . hn
neni all the railroads radiatng IRON cities; all OF
those which bring distant parts OF city In close prox.
UNITY tend TO increase The value OF real estate both
within ana around 1t. Among the many stocks and
other species OF property held out for investment
to those OF liDera or limited than real estate,
particularly TO those VINO are located and remain In
their present locality. II they exercise the ordinary
prudence and Judgment In their selections
with which most men are literally endowed. As
gold declines and approaches nearer 100 II us the
surest indicator or tue healthy and stable condition
oil the government-tnat peace and prosperity are
established, ana consequently the establishment OF a
ana liked value OF real estate until Its value
unsettled by future disturbance OF the peace OF tue
country. 1t Is not easy under this view OF the case
10 see now any real estate owner could receive any
more agreeable news than to find reported In to-
m0rrow's HERALD that gold was l00
1t IS not designed IN this article to induce parties
who are In search OF houses to rent TO be IN any
In the exercise OF patience are often benefited, not
only In house hunting but IN all other pursuits No
one, however can expect real estate to be low
figure as before the war, or any approximation to
mole to the circulating medium OF the country ana
have tendency TO innate rather than depress many
kinds or property, particularly real estate.
J. b. ketcham reports the Following sale:--No. 14l
East Thrty-nlnth street, four stery English pase.
ment, brick, lSx55x9s.9, $4,000.