Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1872-01-27
eLYlPiA, SATURDAY MORNING, JAN. 81. 1879
HOW WILL THE RAILROAD AFFECT
REAL PROPERTY

HOW WILL Td6 hA1LhOAU AK bVA
REAL PROPERTY
There is no doubt but that our material
prosperity will be greatly and permanently
benefited by railroad connection With the
Columbia river, but there is real danger
that our people entertain such exacgerat-
ed notions of the results that are to flow to
themselves and their property from this
connection, that the real fact, when it has
transpired, will prove great disappoint-
mcut to many of them, and for while in
its results seem to bring misfortune.
Men are not generally inclined to severi-
ty iu examining those events which promise
to open vide the doors Of fortune, nor dis
posed, when once the pursuit has com.
menced, to look with favor upon those who
would restrain their enthusiasm. No other
infatuation can match the love Of gam.
bling, and in no guise is the vice SO. dan
gerous as when it comes in the seeming
substantial shape of goodly speculatious in
real estate, investments in spacious acres
aud vell.located town lots. When once
the Land Mania has stalked abroad and
sent forth its emissarics, no individual eau
tell how soon he too may be frothing at
the mouth and seeking whom likewise to
devour. Ne age, no dignity Of position,
no sanctity of profession, no purity Of char
acter is secure against the seductive ap-
breaches of the obliging agent who offers
corner lots at the terminus, at the trifling
rate Of $500 per acre.
Some idea Of the effect that the railroad
connection will have on real estate, may be
formed from a study Of the results up to
this time Of the prospects of that couuec-
ton. We offer few figures which will no
doubt prove of interest to the public: The
Sylvester claim was originally laid off into
something less than 500 town lots; Swans
Addition has something ever 900, making
about l 400 lots, which constituted the
town of Olympia up to the Fall of 1869,
at which time there were no paper towns
in Thurstou county, excepting West and
North Olympia, laid of at the nearest deep
water on the west and east side of the
bay. From that time to the present, q
period but little over two years, the records
show that Olympia has, with its various
additions, expanded into place of nearly
$4,000 town lots. exclusive of various plats
that are to be fled when the terminus is
settled. As there has been no correspond.
ing increase Of our population, or bust.
ness, and as no one pretends to claim that
these additions are or will be Of any actual
value until the railroad is completed, of
course the facts as presented will give a
fair idea Of what our people expect to do
for their real estate. With the present
Inhabited town Of Olympia for it, center,
circle Of more than eight miles in diam
eter is required to include the various ID.
ditions to the town. It is also considered
~ settled that the Railroad Company will
lay out at least 1000 acres, which upon
the usual basis of four lots to an acre will
make 1900 more, and some are of the
opinion that It will lay out that many on
each side Of the bay, aud unite them BY
obtaining possession Of aad rec laimiug the
muaaats. This would increase the number
Of town lots Of Olympia to more than
twenty thousand, a number fearfally dis
proportionate to the present population
and business, or any reasonable estimate of
our future prospects. The greater mum.
bcr Of these lots are mere things Of paper,
having never been surveyed and staked of
BY. their proprietor OF these we will
have something to say when We come to
consider the inducements which they offer
for the permaaenf investment Of capital.
From the statistics given Of the existing
and probable additions to Olympia, it ap-
pears evident that the general effect will
be to deprcciate the market price Of pro-
rcr,y that has preser, and intrinsic value,