The Sunday herald and weekly national intelligencer., 1891-07-26

In the midst of the summer dulln,ss which
now prevails in the real estate market, the
dealers have begun to think in general way
OF the prospects for the fall trade. 1t is still
rather early for any definite signs to be dis
cernible that would indicate clearly lust
what is in store for the street during the
autumn. Still the matter is discussed more
or less, and those dealers who have been
talked with agree there is nothing in present
conditions that can lead to the expectation of
other than at least as brisk q real estate
market in the fall as was enjoyed In the
spring The financial condition of the coun-
try generally is not as satisfactory, to be sure,
as it ought to be, and that may have some
effect here. Money is tight just now, and
capitalists are inclined to go very slow in
putting it out. This state of affairs has it's
effect on the real estate market as well as on
commerce and financial enterprises, but to
rather less degree, because real estate invest
ments judiciously made as to location are less
liable to be affected by merely temporary de-
pressions than any other class of Investments.
In Washington, moreover, it is well known
unfavorable influences affecting business are
less felt than in any other city.in the country;
likely to continue, and with the coming of the
fall careful observers believe that it will all
have passed away.
Those who are inclined.to watch cautiously
all the factors which may affect the market
in the future are inclined to believe that a less
active real estate market may be expected for
at least year. They base this expectation on
the approach Of Presidential election, which,
fy, fha he hol III.
effect on all sorts of business in this city.
This has been due to the insecurity which
Government employees feel when change of
administration is impending. In the old times,
few of the clerks and other Government
employees had any sort of guarantee that they
would not lose their jobs when the new Presi-
dent, heads of Departments and Burean Chiefs
came In. Hence many months before a
Presidential election came on, the Govern
ment employees began boarding their earnings
against possible rainy day. They not only
curtailed their personal and family expenses
but refrained from making any sort of invest
ments in which they could not speedily realize
If it became necessary for them to do so. If
they had formed plans for buying land on
which to build homes, they held off until the
election was over, and kept their money by
them. The more timid real estate men
fear that these influences may make the
market dull for the next year, until the Pres-
dental election of 1892 is over. But most
OF the dealers have no fear on this score.
They point to the fact that in 1883 the bus-
ness Of Washington was less affected than
ever before by Presidential election This
was due to the civil service reform law,
which did not permit the making of
wholesale changes In the personnel of
the departments, which was possible and
practiced before that law was passed and
put in force. The great majority of Govern
ment employees felt secure in their tenure of
Office so long as they discharged their duties
faithfully and the prospect of change In
administration did not disturb their plans for
the future to any considerable degree,
And the course of events after Cleveland
went out and Harrison came in fully justified
their confidence. The employees in the classi-
fled service were not disturbed, and continued
to occupy their accustomed places as before.
This fact now makes it probable that the fear
OF possible changes in the personnel of the de-
partments as consequence of the Presidential
election next year will be even less than
1t was In 1888. Therefore the business of
Washington will be less disturbed in the
coming year than it has ever been since the
days of Andrew jackson. The clerks will
mako no changes in their usual manner of
living, nor will they allow their plans for the
future TO be influenced, for they now have as
good an assurance of permanency in their posi-
lions as they could have if employed in pri-
Vate concerns. This makes 1t pretty clear
that those who look for dullness in Washing
ton real estate and business generally during
the coming year will be disappointed Even
If government employees did not have their
present assurance OF permaneHcy, the effect
on Washington business would be bound to
diminish as the city increased In population
and the Government employees become a less
and less important factor in It's life.
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