Evening star. [volume] (Washington, D.C.) 1854-1972, 1884-08-09
Land Is Wealth.
From the Chicago journal.

Real estate is significant phrase applied to
property. Land is not evanescent. 1t is ac-
tual wealth. 1t is not always readily converti-
BILE into cash, but that renders it, in some
respects, still safer possession for it will not
take wings and fly away. A man who owns
such an amount of real estate that he can, by
economy. pay the taxes and keep 1t unencum-
bered, has started on the road to fortune Real
estate is always growing in value. Its value
may increase more rapidly in some localities
than in Others. But, except in infrequent
cases. where wild real estate speculation has
carried away all the impulses OF common
sense, land is always worth more this year
than it was last year: it will be worth more
next year than it is to-day. Every day that
eiapses increases the value OF every acre OF the
soil.
A recent New York newspaper publishes some
interesting statistics OF real estate in that city
The figures are, OF course. taken from the assess
ment lists and are subject to such allowances
as are to be made for the manner in which as
SCISSORS ordinarily pefOrm their duties. Their
values are seldom correct. being generally much
under a cash ratio. and they are not fairly
eQualized. With these drawbacks. the follow
fng figures from New York city for the years
1870. 1880. 1852, 1888, and 1884 are of interest:
Year. Valuation.
1870. Observation-Disclosures, aGe SIS
Increase In ten years. s2h0. 36a,175
Increase in two years.............. ss2 6S2.l s6
lse3-... OBSERVATION-DISCLOSURES. 1o's,lo0,66s
Increase In one year............. s43.927 .S53
loo4-.... ..................... l,il9'ol.o''
Increase in one year. $4,000 sos
For the ten years between 1870 and 1880. in
ending the entire range of the panic. the in
crease in real estate values averaged over
S2o,o00,GOO year. This also Includes the
srecie-resumptiOn period. the values of 1880 be-
Ing in gold that amount in excess of the values
OF 1870 in the inflated paper currency of the
country. Since 1880 the increase in real estate
values has been over $4,000. 600 q year. This
includes an immense amount expended in
building. as well as the increase in land
1t is Instructive to compare statistics of the
wealth of the men who deal in stocks and other
mere representatives of value with the wealth
OF men who OWN real estate, which is an actual
value. Within two years man whose prosper
lty consisted of railroad stocks has seen dollars
shrink to dimes in some cases: in some cases
the shrinkage is one-halt: In all cases the
sllrinkage is great. Colossal paper fortunes
have disappeared. or have been so reduced in
amount as to look like poverty by the contrast.
But those who owned land and buildings found
their wealth increasing day 10y day and year by
year. If their possessions were small. they are
still better off than they were last year and the
year before. If their possessions were large
the increase has been i'm proportion.
In Chicago the increase in the value Of real es-
tate within the past six years has raised many
men to the rank of capitalists who were poor
few years ago. Many men supposed to be hope
lessly bankrupt have emerged from the clouds
of ruin, borne upwards on the prices of their real
estate. which they supposed had been encum-
bered up to its full value, but which has so
risen in price that its value proved sufficient to
pay off all claims against it and leave its owner
in affluence. Those who tenaciously hang on to
real property will find 1t an anchor of hope
and safety, whatever vicisstudes In life may Oc-
cur.