Evening star., 1938-06-26
Stocks UpsWing Gives New
Optimism to Financial
and Business Chiefs.
CIVIL SERVICE ACTION
SEEN AS FURTHER AID
Private Employment Rises 29.3
Per Cent, Pay Rolls 52.3, Star
Survey Discloses.
Ry HAROLD ROGERS.

Despite recession throughout the
country. Washington's economic and
financial condition is far stronger.
sounder. in every way, than during
the depression Of 1893.
This is forcefully disclosed in
careful survey by The Star of the out
standing factors in the situation.
Without exception, these indices show
that, although there has been slacken-
ing in some sectors since last year,
this city has made substantial strides
forward since the economic low Of
early 1888, when several banks failed
to reopen.
Recent developments have added
strength to the belief that Washing
ton will continue its growth in both
population and prosperity.
Upswing Of the stock market during
the last few days, with its reflection
of active trading in local brokerage
houses. has sent a new spirit Of OPP
timism through the local financial
and business district.
More Secure in Jobs.
Action of President Roosevelt who
covered into the civil service thou
sands OF temporary employees of the
Government, has put them into
career system where they feel more
secure in their jobs, more confident
Of the future, and more likely to
spend. The Government pay roll,
bulwark of Washington business,
therefore is more likely TO strengthen
trade still further. Last week WASH
lngton stood among list Of five lead
ing cities in retail trade, and was
third in public and private construc-
ton among cities of the country, for
the first five months Of 1898.
Stimulant to the construction In
dustry here, which is one of the
biggest industries in Washington. is
the action of Congress in appropriate
ing $56,2Ss,37o for public construc-
tion in Washington and nearby States.
This is explained In more detail else
where on Page B-2 of The Star.
President Roosevelt. in his hreside
chat Friday night. predicting an in
come Of $50. .oo0, 900 900 for the coun-
try this year. reminded his hearers
here in the District. as well as through
out the Nation. that I'VE remember
that banking and business and farm
ing are not falling apart like the one
hoss shay as they did in the terrible
winter Of 1928"
Five-Year Increase.
Population, Government employ
ment. Federal pay rolls, private pay
rolls and many other factors. including
bank deposits, have increased substan-
TALLY in the five years since 1898.
The estimated population Of the
District grew from about 495, 5000 in
1888 to more than 100000 in 1898.
The latest estimates for 1898 have
not yet been issued by the Census
Bureau. The bureaus 1887 estimate
was 627 900. and the figure is believed
to be substantially larger now.
Both Government employment and
pay rolls have jumped during the five
years. Complete figures are not avail
able, but the Civil Service Commission,
in its reports on persons employed in
the executive civil service, gives a key
to the situation. This report does
not include the judicial and legisla-
tive branches or the Army and Navy
personnel in the city.
The number of employees in this
executive civil service of the Govern
ment. both classified and unclassined
in this city, is shown by the Civil
Service Commission to have jumped
from 67,063 in April, 1888, to 1889
in April, 1887.
No pay roll statistics were officially
reported in 1888, but it is estimated
that the pay roll Of the civilian execu-
tive branches here in that year was
around $1O,40O,00O a month. This
jumped to s19,s7l, sos in April, 1888.
according to the commission. The
figures for May are not yet available.
Unofficial figures based partly on
the ohicial estimates of the Civil Serv-
(See pTISTNTCC por, AoI