, 1881-04-10

There have bten great expectations Of an
unusual rush Of building during the coming
spring and summer season. There are many
evidences that Chicago has been filling up ut
Il more rapiu rate Of Increase during the
past year than ever before. The demand for
houses is conclusive Of this fact. Rents
layc consequently been raised, and the op-
portunity for building anu renting at {: profit
has been generally recognized by la1atlown-
ers and capitalists. There has been consid-
cradle enterprise in this direction during the
winter in spite Of the severe weather, but 1t
is small BY contrast with the preparations
that have been made, the llans that haze
been drawn, the contracts that have been
let, ind the money that has been laid aside
for proceeding as soon as the winter should
break UP. The Time has about colue around
when operations should bt. begun OH large
scale, but there is still 4 delay.
This delay is significant. It would seem
to indicate that the prospect for extensive
building has induced the mechanics and the
manufacturers and dealers in building mate
rial to demand wages aud prices which are
higher than the capitalists ma contractors
have counted OH, ard that this condition has
put Il serious check upon building enterprise.
Brick is said to be scarce, :s;ul the brlck-1lcn
have taken advantage Of tho condition to
adopt a rising scale of prices. Meanwhile
arrangements have been antlare being made to
enlarge and extend the manufacture Of brick.
and tlie market later oll may be slnttcd. There
is no tonb; thar many persons who had fully
determined upon bllluiug this spril1s have
abandoned tho purpose. 1t is known that
contractors who had agreed 10 build fur
others at Il certain figure have DECLARED their
Inability to do the work at tic price fixed.
III sune cases the capitalists have yielded to
the demand for an increase Of 70, 25, or 80
per cent Oh the contract price, but in very
MANY more cases tie contracts have been
torn up and building projects postponed to
more favorable season. Hence there is seri-
ous danger Of 4 reaction, in Which case tAore
will not only he t.isnpno;ntmerts. but much
loss Of time and money.
# the classes who furnish the material and
labor for Tie construction Of houses recog-
nize tile danger promptly. there may yet bc
time 10 save the season. 1t is Important, be-
cause there are many industries and trades
that are Indirectly dependent on activity in
caso be largely Increased by the general
prospect for all active building season, ard
this prospect prove Il disappointment, some
thing very like hard times will result. II the
demand for houses shall continue to be large,
the supply short, and rents high, the people
in moderate circumstances will seek homes
in the suburbs Or in other cities. But
all these natural results Of ccss:-
tion in building may be avoided by
d wise policy OH the part of the mechanics
and the dealers in building material. Tie
sooner these people come to the conclusion
they have overreachcd themselves and re-
solve to be content with fair wages and rea-
sonable profits. the better it will be for them
and for the community. Unless tho growth
OF Chicago be i1npe,le'l by excessive demands
oil the part of u,e building classes there will
be abundant work ut fair compensation, and
liyelicr times than the city has had in many
years. But 10 assure this condition Of things,
and to avert the menace OF 4 reaction. the
dealers and mechanics must abandon the
policy OF cXtortinn Mt once