The times. [volume] (Richmond, Va.) 1890-1903, 1891-04-07
CONDITIONS OF CITY GROWTH.


As the spring advances and the season Of
open weather becomes fully assured the move
ment in real estate which has already begun
is certain to develop into very considerable
acti witty. All the indications are favorable to
as great activity in this interest as prevailed
in the course Of 1880. for il must be remem-
bered that at no time during lest year did the
activity exceed what was amply justified by
the intrinsic value Of real estate in this city.
Whatever speculative spirit OF an overween-
ing character vas displaced, was exhibited,
not in the investments which our people made
in Richmond. but in the ventures which they
made in the new towns Of the State.
It is not ut all improbable that this local
speculative spirit having received check in
other communities which lacked a substantial
basis Tor growth, may now turn and seek ex-
preston in transactions in Richmond real
estate. TINS creating nearer approach 10 a
real estate boom in this city than was OBJ
served in any part Of 1890. Such boom, if
pressed too far. as 1t may easily be, can only
be % cause for regret. There is but one ground
upon which a great local boom can be sus-
tiinel without putting the best interests Of
the city in jeopardy, and that Is, the intro
ducton OF outside capital and population.
4 boom originating in these influences, but
never exceeding the limits which the volume
Of such capital and such population from
abroad Justify. would be thing 80 useful
and so healthy in practical operation that
its importance uld not well be exag-
gerated.
1t is very gratifying 10 observe that some Of
our land companies which are holding their
properties moro especially for manufacturing
sites ami for sites OF tenements % be erected
for the accommodation Of those who will be
employed in developing our manufacturing
interests, are taking steps TO induce Northern
manufacturers torcmove their establishments
TO this city. The success which has already
attended these eDdeavors in several instances
is only an indication of what can be accom-
plished by moro determined and more syste-
matte efforts in the same direction
Upon the Intelligent action Of our land
companies. in very large measure, depends
the growth Of this city. They should not be
content to look only 10 this community for
the influences that will raise the value Of their
properties Let them adopt broader and
more fer.seons policy than this. Let them
begin at once TO offer special inducements to
representatives Of outside manufacturing in
terests 10 make a settlement in this city. Let
them offer free sites, and. if the right can be
secured by the proper municipal action. e1-
emption from taxation for definite term.
Tho land companies of Manchester are show
ing an activity and enterprise in these re-
spects. that may very properly be held up to
the consideration and commended 10 the mi-
tation of the land companies Of Richmond.
They have not been satisfied to rely upon the
internal growth Of the growing city in which
their properties ara situated. but have sought
TO make additions both in capital and popula-
tion 10 that city by extending inducements Of
"A substantial nature to outside interests. The
Introduction Of a large amount Of capital from
Baltimore and other cities and the accession
of a number Of manufacturing establishments
from Richmond, have in a very short time
been the leading results of the wise policy
which they are pursuing.
The rising Importance Of Norfolk. Roanoke,
Lynchburg and other cities in the State has
been largely due 20 the adoption of the same
policy 10y the lind companies interested IN
properties in these cities. The fact that
Richmond is the wealtniest and most popu-
lous community in the Commonwealth does
not exempt her citizens from the necessity Of
following an equally vigorous course Of action
if they wish to see the city in which they
reside increase with great rapidty in all the
elements of prosperous community.