The daily gazette., 1878-07-23
From the N. Y. Herald.
The Cfty's Prospects.

We propose to recite some OF the rea-
SONS which persuade us that TINS city
contrary to the opinion of various cToak-
ers, is not only in good condition now
but has before 10 a revival of solid pros
perity which cannot be much longer de-
layed.
In the first place the commerce OF New
York is so immensely greater than that
of all its so called rivals that rivalry IL IN
fact out Of the que tion. During the
year ending June 30, 1871, New YORK
imported to the value OF S33O,OOO,OOO ana
exported $4,000 900; the total comner-
cial transactions of our port reached
therefore the sum of s64s, 100000. Phil
adelphia in the same year imported s19,-
900, 600. and exported S460O0, 600; Is 'ston
imnorted So, ,060, 900, and exported s44,-
OOO. 600: Baltimore imported S22,0OO, 200,
and exported so ,000,000 The combined
commerce of the three cities amounted
therefore to S202 2,000,0OO, against s6lS,-
OOO. 900 for New York. Not only are Q
thus far ahead of all the principal Alta !
tic seaports togeth,r, but 1t has De- n
pointed out that our exports and imports
more nearly balance each other than
those of Philadelphia and Baltimore,
which is an extremely imnorfant advan-
age in cheal hing both Inland and sea
transportation to and from tins port, De-
cause 1t means that our transactions are
of such a nature that they insure freights
for cars and ships both ways, aud thus
enable carriers TO work profitably at
lower rates than they can afford IN the
two other port. we have named.
With so great a preponderance secuf-
ed it is evident that we NUT be the ear
lieSt to feel sensibly the stimulus of in
creased pro luction and exchange ana re-
vived industry in the country. Or that
increase. so far as it falls to the four sea-
uortS, we are reasonably certain 10 re-
ceive in the proportion OF more than
three to one for the other three cities. II
the commerce of the four great ports
should double in the next ten years,
which is not az impossible suppos ton,
that of New York would reach more
than 81 800, 900, 900; that of the other
three comb ned would only reach little
over s400, ,000 900.
Our railroad connections are constant
ly improving.
We ne d still free ships, so that the
millions of freight money now earned by
foreign shipowUers shall accrue to our
own merchants. If the sea freight on our
S6iS 900, 900 of commerce amOuntsto only
five per cent, here are $50 200, 900, the
most OF which is now paid to English
and other foreign shipowners, and which,
with free ships, we could put into the
pockets of our own people. But the loss
is muTb greater than this.
ReIis and prices in the city are once
more low and reasonable. THIS distress
es a few who built and specnlated dur
ing the initiation period; but it Is an un-
doubted b Anefit ( > the grrat mass of our
people and to the future of the city. High
rents of stores, warehouses and dwellings
and high prices Of living for q time seri-
ously Injured New York, because our
merchants could not do business as
cheaply AZ those Of other places.
A comparison of the official valuations
of the city during term of years shows
no loss, but on the contrary great gain
The valuation of real estate for the city
was in 1865 in round numbers SAY 900,
600, 1866, S479 900 600, in 1877 1t was 1896,
O00,0O and that of the present year is s
trihe over 5000, ,000, 900. The, assessor
claim in their report to the Mayor tina
ono other county in the State is assesse,
IN nearer proportion to actual value
than this city" Now look for n momen
at what this means. In 1865 the valua
ton of S427 900 900 was made on green
} back basis, while greenbacks were dc
: preciated at least forty per cent, To-da
) the valuion of over ninb hundred mi
) lions is on a basis substantially of gol,
! 1t is impossible to say that New Yor
has not gro Sn greatly in real wealth
l these years.
Z Fortunately for us the last CongreS
l made an appropriation for beginning tt
: Harlem ri yer improvement. As the pr,
liminary surveys for this necessary wor
}, have been already made there is no re
= son why it should not hegin at once.
7 Is abs )lutely necessary for the prop
+ growth of New York and the CONVEX
IS lent accommodation of its commerc
8 Not until it is completed will our port
fitted to receive the trade which mu
> flow to it with any revival of general i
IS dustry.
q Finally, the country is really rich
e still feels poor, because a great many mt
have lost fortunes and good many mo
are in debt. But the long and drea
perioi of Oppression has taught the who
ar nation economy; and this, combined wi
,e several years ofabundant crops, tells SUI
l. ly and rapidly upon the general wrlfar
at The readiness with which the four y
m cent have been taken up; the increase
m the saving banks deposits In many Stat,
IS the revival of building in many cities; t
considerable increase in the internalreN
nue. receip's all show that we have 81
stautially recovered the losses of the W
,aa and the period of depression since. T
~, excess of our exports over the imports
~ -, great help to us, and the Increase of G
r,o foreign commerce promises that this &C
- dition will continue. Duriug the fiS
ou r year of 1867 the excess of exports oN
@ ',a imports amounted to over one hundl
v" and sixty-six million dollars; in the |
year it was considerably over two hr
=, dred millions, and for the year Just beg
III it can hardly be much IS, for all
crops promise well, and the cotton CT
I'm will, 1t is believed, be the largest e,
ial raised in this country and considera
m greater than the largest crop ever gro
by with slave labor.
chi these are some of the reasons why
,is- believe that New York stands at the
lty ginning of an un Xampled career of pi
lch perity, and needs only fair managem
es, and the exercise of common ski II and I
d nee begin very soon a growth more
pid than any 1t has known hitherto in
its history.