The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-11-10
With This City as
Greatest Finan-
cial and CONNER
cial Centre De-
m an d N e We r
Equalled Will Be
Made for All
Kinds of Space
BY JOHN L. PARISH.

DO long delayed. How much Il means
20 the world our people showed. perhaps
pubconsciously on Thursday.
War. as we Of America have waved
II. is great, was justified: we feel satis-
fed or that, but peace. we are all able
TO see now, Is far greater. Indeed we
Of America have waged war only that
peace. universal and abiding peace.
might come.
War has meant to our real property
interests only strain and hardship and
suffering and loss upon loss even to the
verge OF destruction. Peace we know
will bring relief, sweet and promising
relief and prosperity for many years
90 every branch Of our market. From
|the day OF the great peace forward we
can begin again to build and develop
and improve and enjoy the earth.
OF the magnitude OF the Job that lies
before US no mind is able fully to con-
ceive. This much we know that, where
as our growth In the past has been phe-
nomenal. beyond historic precedent.
from this time forward Il must and
wifi be far greater.
Those who have been taking note of
the effect of the war upon our country
and its industries, and especially upon
our city. know that for the work that
les at the hands Of all the world to
be done-the worlds work that must be
done, the United States as a nation
and the city of New York as a great in
dustrial centre are better equipped and
prepared than any other nation, any
other city in the world.
In everything that goes TO make a
great Industrial and business centre. in
natural advantages. in resources of ma
terials, exchange, financing. transporta-
lion. labor, advertising and growth,
there Is no place on earth that can
compete with New York city. 1t Is
consequently the worlds centre OF OPP
portunity.
Is It too much to expect that from
this day forward her growth in popula-
ton. in productive capacity, In wealth
and the distribution of wealth will be
more rapid and greater than ever be-
fore7 Not boastfully, for that Is un-
necessary and would be unseemly. but
as a mere statement of fact. We may
remind ourselves that in our unequalled
facilities. natural and developed. we
have the foundation for an Industrial
growth such as exists nowhere else in
the world.
In the readjustments that are bound
10 follow the conclusion Of the Great
Peace will not all eyes be turned toward
New York as the place of superior OPP
rortunity for all men OF ambition, re-
source and capacity7 We know now
that one of the first tasks to which
that of vastly increasing the supply o.
food, of wool. Of leather and of al
other necessaries of life. SO much has
been destroyed by war that II will bt
years before tho normal sources OF sup
ply Of many things can be restored tc
normal conditions.
Another primary requirement of the
times Is the building up and extension
OF our transportation systems. Thii
will require more mining OF coal ant
iron, more making and milling OF stee
and iron, more building OF roads ant
waterways, more creation OF mills ant
machines of all manner and description
New York city, at the main gateway
Of the nation, will handle most of thes'
Jobs. wherever the actual work has Il
be done. and will be the first and fore
most market of supply. exchange ant
distribution of all the producers and
aheir products, Of the financing OF al
the greater Industries. :.
More than this, New York city vii
afford to the business man more OF al
the things he turns to for amusement
entertainment and the satisfaction o
psthetic desires for himself and hi
Family. in larger variety and combIna
ton. than any other place on earth. 1
there Is growth and prosperity In pros
pect for any part OF the earth. New
York city will have it's full share OF II
and will have II first.
Many observers of local condition.
have felt that the end Of the war woul'
:naugurate a great revival of trading II
the real estate field and a great reviva
IN construction, too. There Is not mucl
doubt that basic conditions are rip
for a revival of interest and activity IL
both these branches OF the market.
But there are factors In the situation
that Indicate that the improvement
must be evolutionary in character rathe
than revolutionary. There Is still con
Siderable quantity Of Industrial spac
pYt OF use, and the rate of income OBJ
tainable from business property Is no
large enough to induce capital invest
uent in further production In general
ht present cost of production.
For residential space the demand !
greater than the supply, and Is growin
at a rate that will soon. II 1t does nc
already, make new building operation
5ustifable. " not Imperative, even
the prevailing high cost Of production
gut even such operations VIII he under
ssken only In exceptional cases at pres
mt, because of the prospect OF lowe
cost Of materials and labor as soon
Uncle Sam withdraws from the com
Ietition for these two commodities. Eve
Il the decline toward the pre-war o
normal level OF costs should be onl
partial, every builder win want the ben
EFT OF that decline and win walt for
rcther than build at present cost only !
b. compelled to compete in the rentin
market a little later on with building
produced at a quarter less in cost.
Furthermore. the question has ofte
pNen asked: Where will the none
oome from with which to finance sue
Building operations as New York ha
been accustomed tot This Is the con
mon form OF appreciation OF the faf
that In the financing Of the war III
Government, through its war loan
drained the realty market OF Its read
money 30 that ordinary refunding opel
stlons even have been nearly suspended
and no money was available Tor ne
construction and development.
All the big lending institutions. N
ife insurance, title and mortgage con
rhpes and savings banks. at the Ell
trance OF the United States into n
worlds war, withdrew at once from u
regular line of financial operations an
oCnsecrated ther iselves and all the
resources 70 tho winning OF the wa