The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-05-21
The Future Of New York.

IL has become fashionable oil late, among
a certain class of New Workers, TO take the
most gloomy view Of the material interests
and future business prospects Of this city.
New York has reached the zenith of her
prosperity, her Importance IS dwindling,
her commerce has fallen of. her real es-
tate is soon to become worthless or deliv-
cred over to the tax gatherer for non-pay-
ment OF iniquitous taxos-in a word, the
time has arrived for writing the history OF
THE Decline and Fall Of the City OF New
York" We do not hold these opinions.
The great depression which has, during
the last two years, prevailed in all
branches of trade and industry is not
peculiar TO this city, but is visible
throughout the country. Nor is 1t confined
TO the United States; II we look abroad,
we find IL prevailing with marked intensity
at all the great commercial centres, though,
singular to saw, France, Notwithstanding
the recent waste of the Franco-Prussian
war and the payment of the Ave milliards
TO Germany, has suffered less from COM
mercial disaster than any other country OF
equal Importance. While disastrous and
important failures are daily occurrences in
England and Germany, the commercial
| classes of France are apparently in pros
porous condition.
The city of New York had its origin In
commercial interests, and every subse-
| quent addition TO her wealth aud industry
10 TO be traced to the same cause. Her as
| tonishing growth dates from about 1900,
when foreign States began to look to her
Us the future general mart OF the coun-
try. In 1900 the population was J,4s9 4;
in 1910, 96,373; In 1920, 1237O6; in 1925,
lG60s5. To-day the population is over
100000. Apart from her geographical
position, the great causes which have
built up this city, and from which she will
in future derive her prosperity and power,
lie without. The system Of internal COM
munication, by u network of railways
spreading through the country, added to
our State canals. has given an impulse 10
the industry of our citizens of which no
human foresight can properly estimate the
results. On the other hand, the produc-
tons OF foreign countries. accumulated
within the city by the operations OF com.
MERGE, arc distributed with great ease 10
the various parts of the country, thus
making New York virtually the CONNER.
DIAL clearing house and financial centre fol
population Of 100000 of people.
The present superiority of New York
over every other city in point of local
facilities for the prosecution OF foreign
and internal trade is indisputable. TIL,
immense territories yet to be developed
this side OF the Rocky Mountains are des-
tined in a very near future to pour stream
OF wealth into her lap, which will give her
a degree OF power ana importance not yet
dreamed OF by the most sanguine. with
uniform freight rates on our trunk rail
roads from Chicago TO the chief cities OF
the Atlantic seaboard, the preference ex-
hibited in favor of the New York marke
would TO a very great extent, give this city
the monopoly OF the grain and other prod
ucts Of tho West designed for exporta
ton. The loose rates on east bound
lines, owing to the stand taken by the New
York Central and Hudson River Railroad
have resulted in greatly increasing III
shipments of grain 10 this centre. We IN
dorstand that it is the intention of Commo
dore Vanderbilt to enter into no arrange
ment or compact with the other trunl
lines short OF the permanent establish
ment Of uniform freight rates rrespectiv
OF mileage, between Chicago and th
4 chief Atlantic seaboard cities-Bostou, Me-
o York, Philadelphia, and Baltimore. Shout
: this decision DO carried out, We may loo