The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-11-17
Conditions Prevail Now Similar to
Those at Start of Reconstruction
Period Which Marked Beginning
of City's Present DEVELOPMENT

ne Allies dtIHlStiCo lerntb tnAI IL NaQ
lad enough Of war. Another few weeks
Vii sss peace again reigning everywhere
and the beginning Of an epoch In local.
sstional and world history that most
soks believe will be recorded as one OF
.as greatest commercial periods Of the
~. The period OF alienation Is now a;
ard; n fact It Is in progress. TIL,
.savy hand OF restraint placed on trad,
nd commercial energies by the Govern
nsnt nineteen months ago, that the prog
-.ss Of war activities might not be i'm
oeded, Is being lifted to give FREQ pace
. peace time business Almost as soon
IS the news was flashed from Marshal
gocAs headquarters that the armistice
terms had been signed the War Indus
les Board lowered the restrictions
sEsiust construction.
Il was the first peace action to be
,akea By the board and indicates that
Warrington wants builders to rush back
Ind prepare the way for the avalanche
d business that will how In and over
vsg York Action OF this kind should
lot escape the attention Of tho investor
~ the speculator, because 4 more signi-
scant warning Of what Is coming could
not be given. The war board halted
Susiness II has heard pleas for less re-
t.raint from every quarter. and this
bard, long ab,e to estimate the great
yoluns OF business which this city ard
zatcn viii do Just as soon as peace is
assured. has restored peace time oon-
atons to the field Of building.
Harb!ngers OF the coming business
"a already are here. eeen though the
psac. terms have not been signed. Dock
Commissioner Hubert told the Board OF
Est.mate last week that he had to re-
.use the request OF British marine inter
ssts Cor docking space hero because he
lad mons TO give. Mr.. Hubert was ask
70 the board at the time for money to
balld additional piers IN view OF the
isnnnd which will be made on the facil-
'.s Of the port n the near future.
from the same viewpoint Comptroller
Craig has advanced a plan for the i'm
prcvemsnt IN freight handling facil.-
lee on the west eide OF tire city. Talk
% any broker IN the business section
5: TIE city ana he will tell you that
arntrsds OF concerns are IN the mar
Is. very much disturbed because they
.annot get larger quarters to accommo-
cate expanding business. It win be some
Ina before this situation viii be re-
iisved because tho building needs Of the
1sy are wosfully behind. and according
10 ore real estate expert It will take ten
yeafS Of intensive work before there win
- sufficient homes to meet the require
rnea:s Of business and population.
Prophecies made by students OF real
Hta:s and the business development Of
ne city are that the days Ehead are to
~ wonder days
Eev Yorx VIII be Q greater city than
sTG 6e:orA The world win come here
% saop ana to bank because We win
.sve both money ana EOodA II suoh is
IL case what win be the real estate
Ccoaiion n this c1tyT
ne great civil war, which ended .
ttt,s more than half . century ago.
hs.e oct no such promise to real estate
i1ts~eSts as does the close OF this war.
The OWL war was q sectional affair
sas only the United States suffered
rrsGtly by tbs conflict This war. the
40 OF which has Just come. has been
, entversal struggle and every industry
n svery corner Of the world has suffered
istses beyond conception from lack OF
demand. raw materials or some Kindred
ySAson
America OF al countries has suffered
commercially less than any other. For
his reason and the wonderful resources
y the land II will be the Shopping place
y every nation for long time to come.
ne close OF the civil war marked
ne start OF a great speculative and de-
,tssprnent period IN this city. II was
'Eorupted by occasional spells OF stag
uation. but from the signing OF the
ssaee terms at Appomattox Court House
Q 1855 down 20 the panic Of 1898
|sS York real estate gained value
sad the city added many buildings and
'7nssdsrROle population. There were
Fors than $500 vacant lots south OF
! 1iEhty-stxth street at the close Of the
var On the east or west side OF Central
ParG property could have been bought
~ few hundred dollars then. In the
I've ysare following the surrender or
Gan Les New York property. particu-
Any sites. Increased in value from 400
% 100 per cant Accommodations before
Gs ciVii war were inadequate for the de-
aands that followed the end OF the war.
Ahsre sst In q revolution OF everything
N the real estate world. No corner OF
Is city was too far removed from the
ssntre Of activities not TO gain BY the
boorn.
The exubsranos Of the trade which
Produced such q wonderful transforms
con IN tho city OF New York nfty"three
Sears ago and lifted values over night
s4ouid work the same way this time be-
-Aase business Of q greater degree has
Neen held back by this war than during
~ civil war. 80 that the rush back
aaoud have q similar effect on real
sIate values as we'll RI on the physical
Ssysiopment Of every borough.
During the postwar period OF 1855 70
te'e was developed the apartment house
french Eats, the passenger elevator.
esvated street railway. boulevard street
sAm. tall buildings and trade centres.
rsproofnE vas unknown IN those
sAys' the city being one OF brick and
-Nns buildings. none Of which was
ore than i've stoEiss, since taller
Iuoings were impractical The twenty
yeas - 70 1880 proved 70 be one
" tho mlrye.s Of the history OF the city