Evening star. [volume] (Washington, D.C.) 1854-1972, 1874-01-24
The recorded transfers for 1913 are as foil
Sl2Ig5-3OO

tOf these transfers for 1873, nearly one third
in number were for pI operty located west of 18th
street, and north OF Pennsylvania avenue.l
By this comparative statement it will be seen
that the money invested in the purchase of
Washington city real estate in 1873 is within a
fraction of the whole amount invested in both
years of 1870 and 1871; also that the operations
for 1873 exceed those of 1872, both in the num-
Der of transactions and amount OF consideration,
by hpwards of 20 per cent.
This increase in the real estate transactions
for 1873 is remarkable and highly encouraging,
IN view of the fact that during the last three
months of the year all business operations
throughout the country were paralyzed to a
great extent by reason of the financial panic.
The first immeda ate effect of the money crash
was quite severe upon Washington by reason of
the loss OF lock up OF a large amount OF deposits
occasioned by the failure of several banking
institutions but not single firm engaged in other
business failed suspended, and no community
in the country 50 rapidly regsined its stability
or is in so good condition for progressi We devel-
opment. Some of the reasons therefor are ex-
planned in the fact that, by a careful compila-
ton from the government records, we have
ascertained that the United States government
disburses in Washington something over SIS, =
DOC, 900 yearly-S1 800 900 per month
A large portion of this sum is dIsbursed 70
those in the employ of the government, who
number, in the several classes and grades OF
service nearly 10000 persons. Large expendi-
lures are made for supplies, repairs, rents, &c,
&c.
The government disbursements here increase
yearly with the establishment of new depart
ments, bureaus, commissions, &c, made neces-
sary by the constant enlargement of the bust.
ness of the government consequent upon the
7apid growth and developement of oar vast
republic.
These government expenditures in our midst
being constant and regular, give a stability and
steadiness to Washington prosperity, and pre-
vents TO very large extent the disastrous eff
iects of panics and "hard times" which pc
riodicslly affiict the commercial and manufac-
uring cities Of the country. In almost every
city, during the late monetary crisis. manutac-
uring and business establishments were closed
and thousands Of employees discharged, causing
business prostration, shrinkage in value OF
property and general distress; during the same
time in Washington none of the thousands of
persons In the employ OF the government were
discharged, ard Uncle Sam paid fully and reg
rlarly at the end of each month, and the vast
business OF the government goes on as usual,
steadily increasing with the growth OF the coun-
Try. Not an emlgrant lands on our shores, not
quarter of section of land is entered, but in
creases the business TO be transacted at the seat
Of the nations government
A large portion of the real property which
changed hands during the past year was pur-
chased by new residents, persons of wealth at
tracted here from all sections of the Union by
the comprehensive plan of Improvements"
by which Washington was being redeemed
from the accumulated filth of long years of
stupidity and slothfulness, and began to assume
some of the essential features of a modern CEN
ter of civilization. This class of new corners Is
rapidly on the increase, and, private enterprise
in connection with the continued enlargement
OF the governments interest centered here,
made necessary by ITS vast and rapidly accumu
latng business, which swells with the growth Of
our wide spread country, must eventuate,
within a brief period, In clustering within sight
of the capitol dome several huni red thousand
intelligent, active American citizens.
This much of our substantial prosperity illus.
trates the rapid strides of progress with which
Washington Is marching to the front, and
summing its proper place among the energetic
and enterprising cities of our vast republic.
With united urpose on the part of our citi-
zeDs in pushing forward improvements and
identifying our city. the more generous will the
government be in its appropriations for the
adornment of its own property; more rapidly
will capitalists seek investments in our midst
and thousands will gather here to enjoy the
many and increasing attractions OF the nations
capital, and Washington will soon be the pride
OF every American citizen.
Very respectfully, KILBoURN & LATTA.