Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1883-02-10
nail, rO,F- IEfRLLIGESCs2.
rmE Real estate BOON aND HIGH
Rents IN PORTLAND.
Some Aensibie Remarks NV "Gr izziy.
In the sunday Oregontan.

tn the sunday Oregontan.
Well. the boom tends are keeping Up
their lick" like Ben Basey when be was
lashed to the pitman OF high pressure
engine making twenty revolutions per
minute. The way they are going il Will
bring about reaction like that OF 1873.
l saw the evil effect Of that, myself. l
saw men mortgage good property and
invest money borrowed at one per cent.
Der month, in lands that we're void oil
merit and incapable Of attaining any
real permanept value. | could show
YOU more than one prosperous man OF
1869. when came here, who Is no" eth
er dead or dead broke: and there IS
yery little difference in these two undo
sirable conditions of the genus homo,
can assure you. II anything, think
the former have the best of 1t, as their
troubles are ended.
The same spirit manifested IN 1870.
when the Duke of Oregon" insugu
arsted the first "bOom" in property, is
manifested today. Men don't seem to
be content with getting ricn by any is-
pitirn ate means, but take money out OF
their business TO put into lands that are
five or six miles ont Of town. My word
for it, the railroad men don't want to
buy the whole of Mn tnomah county.
Some good man is going to get hurt, for
il these lands are no, wanted FOR rsit-
road purposes, they are worth no more
THAI if there had never been mile OF
track laid within the State. And what
il worst of all, this speculation does not
help Portland a particle: and IN my be-
lief. il amounts to positive injury, "a
! hope to show before get through with
it.
Nobody for moment claims that
these sales Of lands are made for puf-
poses other than speculative: nor can
any man, ut the prices now being paid,
afford to sell,at any advance less than
fifty per cent. To get that, the investor
NAV have to wait thre- years. If ne has
to wait four years the Interest Will eat
his head Off In the mean time, the
money sharks are quietly loaning all
they can on oitv property in tho hope
that borrowers may never he able to Day
it back. IL IL strange that weii-tO -dO
merchants will take money ont of their
business 10 put into the futures Of lands
lying between hero and the head of
Sauvie's Island. There il not mer
chant in Portland, who, if he in really II
business man, but is doing we'll today:
and why cannot they learn to ''ief well
enough aloneg Any fool can bear ad-
versity, but 1t takes a man of strong and
well balanced intellect to stand pros
perity.
Again, this boom ia injurious TO the
CITY for the reason that 1t ttkes money
ont of circulation that should be used
to strengthen the business position az
Portland. Here she is, inviting the trade
of Idaho. Montana and Dakota, aud yoi
she is adding nothing tn her mannfac
lures. Tue money that should bs em
ployed in establishing carriage factor
les, iewelry works clothing shops. and
other Industries, is all being sunk IN
Giles Lake, st. Johns and other rural
retreats for the unfortunate brave. We
are inviting capital from tho east
and the shrewd Yankees say to us
"why don't you try to build up your
town yourselyesl Ii Portland il such
good business point. why don't you pnt
in something of - key stone To strength
On your archl We will stand ready t.,
help yon whenever you manifest dis
position tn help yourselves. lnvesl
your own capital in local enterprises,
and we will follow you"
Moreover, this "boom" il injuring a
producing class, namely the army Of
clerks and artisans that have changed
Portland from village TO a city. The
bankers, brokers, money changers anu
real estate agents, are not the IN. n who
have swelled the population of Portland
from 5000 to 1900 in the few years
that have lived In Oregon. The life
OF this city and the prosperity of its re
tail Dealers lies not In the purses of its
millionnlres hut in the industry and
pf hn xpb n IL. t.
wages from $50 to $50 per month: a,id
let mo add that the latter figure does
not represent a numerous class. Tn.
incre sse in value which has taken place
within the past six months. has raised
the rent Of the grocer, the butcher and
the baker. with the Gtndlestiok- maker
to hear from. This increase in rent has
to be made up III lncres.scd prices ful
beef, pork, faur. beans. coffee (Which
often contaius beans), and all the n
cessaries Of every day life. Has there
been any correlative increa-e in til
wages OF clerks and artisans within tn.
same period?
Still further, the "boom" invatles thu.
home circle. Il imparts fictitious vl-
ues to that portion of the CITY devotea
10 private residences ana tue homes Of
mon who have To work h ,rd for com
paratlvely little inonev. In 1872 lad, |
bought four lots for S2O0o aud clearet |
away the fir stuups from them, On
these four lots she built five houses, NJ a |
total coet Of $500. making $l0..j0l In |
all. These fiv. houses now rent for am |
aggregate Of sos, being about two Der |
cent. per month ON the investment Nor |
IL this an extreme Case. Houses thar |
rented for $35 per month when tbcy |
We're new, are now fiudiug ienalts nj S45 |
and even $50. Has there been anv pro |
portionate increase in the wages Of IL. |
men who are to occupy them2 A man
built six houses on five lots about three |
months ago. at cost of SlS.U0o In nil, |
aud rents them for a total of 1890 per |
month. Has he in any way contribut. |
Cd to AN advance in salariesy
For the past six months have ssep
no hou ses erected in Portland, saw.
about half dozen in the Flnis OF the |
city tmeaning Caruthers' addition, of |
course.) which man with Il salary of
SO per week can afford to hire. In, |
result OF this boom IL that families If
moderate means are selling out their
furniture, abandoning their rented
houses AND going into lodgings over
stores. That thing has been the CURSE
.
moralization of Portland. San Francis.
% shows 1900 people living in hotels
ana lodging houses. without the firs,
semblancs of what we define in the Iit
Tie word "home." The daughters lhay-
ing no domestic duties ;o perform. bay,.
no love OF home. none Of the patriotism |
OF private life that is Indispensable to |
the production of earnest men and y,r.
tuous women. lndi-ness leads To ex.
sravagsnce in either sex. The c,rIs
grow mp without any sense of the ohl,-
cations OF conjagal life. and. II ,roub,,. |
overtakes them, drift into the yortrx
shat leads downward to degradation and |
shame; and the boys grow up w,thon,
any notions OF what mans private \, 70 |
should be. and tnally reaoa tneir level
In the reef of the poker den and ths |
stencil Of the five cent beer hall.
We cannot all he dealers in securities |
and articles having a fiuctua,,nr yalns
There must be some primary producers
20 ouild up the aggregate o! what wa /
Gall u community. We need men far
the loom and the forge rather than for
tue carpeted Office aud the ele,an,
countin9-room. We need more men al |
CLASS, men bred to work and no, allow.
sa 10 grow up in that idleness which i
the INEVITABLE result of s,acpI,,,,,,