The Washington times., 1935-05-18
Capital City
FOcalPO1nt
OF World

" 0SAAAS will N0eAVNA Va VA~S
worlds greatest nation, is
growing by leaps and bounds.
Amazing development Of the
once small town in recent
decades gives every assurance
that within a few years Wash
ington will stand side by side
with the glorious cities Of
ancient Greece and Italy.
In population, science, art,
and architecture, Washington
today presents the picture Of
q flourishing capital worthy Of
parity with the capitals Of
modern Europe.
But only the first chapter in the
history of Americas National Cap
ital has been written. 1t is still a
young city, having only recently,
by comparison, been transformed
from q small sleepy town into q
metropolis. When the second
chapter Of the city's history has
been completed Washington will
deservedly be placed among the
ranking capitals of all time.
Government and local agencies
have united their resources in
mapping out a long-term program
Of Identification and natural de-
velopment. Officials believe the
present generation will not see the
full results Of this work, since sew.
eral decades will be required for
them to reach fruition.
Art and Finance
Mecca Of thousands and literally
the focal point Of the world, Wash
ington today is the center Of more
activity and interest than ever be-
fore in its short history.
It Is the city of contradictions,
In one respect, for while 1t is gen
orally referred to as a city OF
beauty and while with it are asSo-
ciated art, science and spacious
highways, it Is also fast becoming
the center Of Americas financial
market.
This is due, of course, to the
developments Of the New Deal since
March, 1888. Washington, prior
to that date, was looked to for
financial information, but not to
the same extent. Today it huns
with the wires buzzing hourly the
latest news on gold, silver, cotton
and scores Of other commodities.
New York is the center OF the
financial market In America, but
Wall Street hears from Washing.
ton before making a move.
There are several indices re-
flecting the remarkable growth Of
the city. Population, Of course,
is the truest criterion of the de-
velepment Of any community.
Then can be considered the bank
cleGringS here.
Washington's population - the
metropolitan area-today Is eSti.
mated at $4,000 persons. This
is q jump Of approximately 10000
residents since the last Federal
census was taken in 1880. In 1920
the census figures revealed more
than 100000 persons were living
in washington and its environs.
The metropolitan area is con.
Sidered to include portions Of
Montgomery and Prince Georges
counties, in Maryland; parts of
Fairfax and Arlington counties in
Virginia, and the city of Alexan-
dria.
Based on the rate of growth
during the past Is years, the
population forecast for Washing
ton indicates that the city proper
and its metropolitan district will
contain more than 100000 per.
sons by 1860.
Bank ClearingS
Bank clearings in the District
Of Columbia reveal an even more
interesting picture Of the develop
ment Of the city.
In 1910 $685., $50, $50 was cleared
through local banks. According
to the best estimates, the clearings
will total $846,251, 484 this year.
This sum is based on the avail.
able figures for the fiji four
months Of this year, which show
that $282, 0S3, 1928 has been cleared
through Washington banks.
But this is not all Of the bank
clearing side of WaSbington's
story. The more than $500 ,000, 900
cleared in 1910 jumped to the
sum Of $1,353.27S,092 in 1925.
Since that time there has been
Z drop.
This is explained by the many
bank failures here in 1882 and
1893, coupled with the fact that
washington, to some extent, felt
its share Of the worldwide eco
nomic depression. Then, too,
there was the is per cent pay
cut for Federal and municipal
workers here, which partly ex-
plains the decline in clearings.
At the rate Of increase shown
during the past Is years, assuming
it continues, it is apparent more
than $4,000 900 900 will be cleared
by Washington banks in 1860.
What plans are in store for
the development Of the National
Capital?
Plans for Future
They are many and varied.
Local universities, schools and
colleges have comprehensive plans
for charging their academic ia.
cilities. The National Capital
park ard planning Commission