The New York herald., 1878-12-31
Memor.sl. Events Of the Year.

| tant in recent history but we can think OF
nothing which is likely to mark it as q
great epoch in human affairs. 1t has been
fruitful in scientific discoveries Of first rate
Importance but having recently gone over
that ground we will drop great achieve
ments in science from the present retro
spect. In the sitting process which is
necessary on these annual occasions there
is no better rule than to estimate the
importance OF events by the proba-
bility that they will be fruitful in
important consequences rule which
cannot always be observed in the publica-
tion of current news from day to day.
Let US illustrate by an example. The most
exciting occurrence Of the year in this city
was the robbery of Mr.. Stewards grave,
which occupied more space in the news
papers and reused deeper feeling in the
community than the opening of the rapid
Importance as it is inferior as piece OF
sensation news. But In review OF I'M
portant events it is necessary to readJust
the scale, leaving out Of view the transient
sensations of the year and recapituiating
only such things as will stand as landmarks
in the progress of the age.
Beginning with our own city, which is OF
deeper interest to it's people than any other
part of the world. the great event OF the
year is the one to which we have just al
luded-the successful establishment OF
rapid transit which is a turning point in the
history Of this metropolis The inaccessi-
bility of the upper parts of the island with
out wearisome consumption of time has
caused for many years great overflow OF
our population into New Jersey and upon
Long Island and Staten Island, arresting
the growth of real estate values in the
city and crippling our municipal
revenue. Although the rapid transit
roads are not yet running to the
Harlem River and beyond, they are
proving so remunerative and the prepara-
tions for extending them are SO far adj
vanced that the experiment is relieved of
the last vestige of doubt. 1t requires no
prophet to predict the consequences The
time required for reaching any one Of the
| Jersey ferries, crossing it and getting seated
either in a stree. horse car for points in
Jersey City or Hoboken, or in q steam car
| for Newark or Orange is greater than the
time that will be required for landing
lem River. Almost everybody will
| prefer to reside in the city when
it requires less time and less ex-
pense to 60 back and forth from places of
residence 10 places Of business, shopping
or amusement Our fashionable stores and
our theatres are moving further and further
up town, and people living at the uppef
extremity of the island will have great ad-
vantages in point Of time, convenience and
expense over the people OF. Brooklyn and
New Jersey in reaching all the centres of
resort in this city. There has been no
event since the opening of the Erie Canal
in 1926 SO important to the growth of New
York city as the demonstrated success Of.
the rapid transit roads in 1878.
Readers must pardon us if we dwell still
further on the affairs of this city, even if
we are compelled to slur over tho impor-
tant events of the year in Europe at the
end Of this article. Within the last few
days an arrangement has been announced
which will rank in the events of the year
as second only to the establishment of rapid
transit in the fruitfulness of its conse-
quences to the prosperity of the city. We
refer to the new line of steamers, fourteen
| in number, which are about to commence
running in connection with Mr.. Wander.
bilts railroads. The grain trade of New
| York has for several years been tapped by
| other Atlantic cities which have af-
forded better aud cheaper facilities
for the transfer Of grain from cars
to seagoing vessels. The experiment which
Mr. Vanderbilt is on the point ofintroducing of
will Immediately give full employment to
| his one large elevator, and necessitate the
| building Of others, until grain elevators be-
come as conspicuous feature in the harbor
OF New York as they are in the hsrbors
of Chicago and Buffalo. Mr.. Vanderbilt
evinces wise forecast in providing for the
cheap transfer Of grain to ships in this port,
| because il insures constant increase of
business to his roads, which terminate here
| The Erie road and the Pennsylvania road
will be compelled to furnish equal con-
veniences, and the ultimate consequence
| will be concentration of the export
trade in grain in New York city.
| NextIsto rapid transit Mr.. Vanderbilts
new arrangement for shipping grain is the
most important event OF this year, which
| has so close o connection with the business
OF New York. The success Of the anti-Tam-
many coalition in the last election is too
trivial and too doubtful in its effect to be
regarded as of any particular consequence
in the municipal history Of the year.
When we extend our roview from the city
to the State of New York we find nothing
worthy Of special commemoration. The
preparation Of the scandalously expensive
pile of architecture called the new State