Evening star., 1923-12-22
CATHEDRAL RAISES
PROPERTY VALUES
Influence on Real Estate
Cited by Harry K. Boss.
Fund Aid Advised.

The influence that the proposed
National Cathedral at Mount ST.
Alban will have on real estate values
In Washington was pointed out in a
statement made today by Harry X.
Boss of Boss & Phelps. former pres
ident of the Washington Real Estate
Board
Few real estate owners in Wash
inSton," said Mr.. Boss today, "realize
the extraordinary influence on real
estate values in Washington of the
building of great cathedral like
that which is rising above Washing
ton at Mount st. Alban. Considera-
tion of the increased value of all real
estate in this section resulting from
the building of this cathedral must
remind US of the great economic prin-
ciples involved.
Most of the realtors. who are
worthy of that name, have given
of unearned increment involved in
their operations in Washington. Many
investors are quick to buy up real
estate in the neighborhood of a mon
umental building because they know
that the presence OF such building
inSureS their property against depre-
citation and usually guarantees it's
likewise protect himself by consid-
GRAFTON of these underlying values.
All Washington Benefits.
This procedure is entirely legiti-
mate. it indicates wisdom and judg-
ment on the part OF the man who
considers them. All owners of any
real estate in Washington will benefit
eventually from the erection in
Washington of tn National Cathe-
dral. The sooner the cathedral
is built, the sooner they Will reap
this benefit. l do not feel, however.
that an investor is justified in ar
rogating to himself AL the profit that
will accrue to him without consid-
ering in the least the fact that he
owes part of this profit to the pres
ence of a great religious institution.
In a sense, such man is taking from
God and giving nothing. AS Bishop
Freeman has said, We must expect
great things from God, but we must
also do great things for Cod There
is an element of give and take in
yolyed in the building of this beauti-
full structure that all of us must con-
slider.
SIT is not necessary to discuss the
conviction of single takers that all
values, belongs to the community,
and not to the individual. so that
the municipality might use this In
Crement for the benefit of the COM
munity. Yet we know it is ethically
just to expect that some of the profits
which accrue TO. the individual, prin-
cipally the unearned increment, shall
be allocated to the public good. If
this is not done voluntarily it is done
by compulsion. We need to insure
ourselves against extreme forms of
compulsion. More than that, we need
70 insure our future civilization by
proper recognition of the need in
Washington of a great witness to
God.
Other Reasons Cited.
"Of course. there are many other
reasons why Washington should rally
to support this cathedral. These rea-
sons are summarized to some extent
IN the charter granted by Congress,
for the promotion of religion, educa-
ton and charity. Other phases of the
problem have been eNpounded by
others, but I believe it is the responsi-
real estate interests of the city to
present frankly these phases of the
situation.
Every property owner in the city
OF Washington, regardless of personal
religious Affiliations, should welcome
the speedy completion in the National
Capital of a building Of such com
manding architecture as the National
Cathedral of SIS. Peter and Paul, now
erecting on Mount St Alban. Not
alone because it symbolizes the fun
dameRtal principles upon which rests
the perpetuity of the government, but
because it will add another wonderful
edifice to those that are fast making
Washington the rival of the world in
structural grandeur: an influence
which exerts a most stabilizing ef-
feet upon all real values, private as
we'll as public, no matter in what Sec
ito nof the city they are located"