Columbia University Libraries Digital Collections: The Real Estate Record

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November 14, 1885 The Record and Guide. 125S they can execute thera. Where does all the mouey corae frora to buy stocks and put up imrgius i is the query. Those that ask the question seera to forget thafc the people have been practising the closest econoray for tho last thiee or four years. We have a i)opulation of 55,000,000. Suppose that for a single year every person saved by economy two cents per day or $7 for the entire year—not a large estimate—at that rate the savings would amouut to $oS5,000,000. The accumulated saviugs of three years, from 1882 to 1S^^5 inclusive, would in that cose amount to $1,155,000,000, What shall be done nvith this vast sum i Shall it go into dry-goods, real estate or speculation ^ The people having gained something ahead feel more independent and aro risking thtir money to a certain extent in outside spec¬ ulation. Not only has the couutry grown richer through savings, but the earning capacity has increased. The estimated value of the corn and cotton crop is over §11,000.000,000, the corn crop alone being estimated as worth over §;800,000,000. Where will this raoney go i Some of ifc to pay debts, to buy dry-goods, clothing, provisions, some into speculation; but, all the fame, ifc is in the couutry, aud has come to stay. While we deprecate speculation, we are glad there are so many visible signs of returning pros¬ perity for the country at large.—-4?»erjca/i Grocer. The Outlook iu the Leather aud Shoe Business. The first indications of a recovery from a long terra of stagnation always appear in the stock market There havo been several little spurts in that quarter, bufc they were promptly succeeded by a relapse into duUness, until tiuaily everybody seemed to have got the idea thafc there was no such thing as a turn of the long laue of declivity. That is generally tho time when a change takes place. Some three months ago a few capitalists, tired of keeping raonej^ where it would bring them uo interest, ventured, in a dilfi- deut, half-hearted way, to invest some of their spare funds in shares of corporations that were still paying dividends. The traffic grew mitil price? advanced, and then it grew faster stUl, for people are always ready to buy when values are increasing; which, to be sure, is the reason why they do increase. A good many ]>ersons insisted upon it the movement was unreal, and would soon be followed by a collapse; but the number of unbeUevers is much smaller than ifc was. The greafc majority are evidently of opinion that the reaction was natural, and will prove lasting. If they are right aboufc ifc, fche awakening will extend to merchan¬ dise, aud subsequently to real estate. Most kiuds of merchandise are as cheap uow, proportionately, as stocks were in the early suramer, aud are quite as Ukely to rise in a similar degree. Buyers did not move any sooner or any faster thau the exigencies of the trade rendered imperative. They delayed making contracts so long that they have found it necessary all through the season to have their goods hurried forward as rapidly as they could be got ready. The stock has been so thinned out on the shelves of the retailers, and the fioors of the wholesale stores, thafc the capacities of the factories were all taxed to the utmost to replenish thera. A quickened demand sprung up simultaneousiy in all quarters of the Union; transition from languor to briskness was somewhat sudden, though not at all extraordinary, when it is remembered that the practice of buying in a hand-to-mouth sort of way had been Uterally univer¬ sal for a couple of years; there were a great raany erapty places to be filled up, and a vast quantity of shoes are required to accoiuraodate the wants of a country so populous as oui-s. The thing does not appear to have been overdone. There has been no flagging in the vigor of the traffic. The purchasers of goods havo been numerous, but none of thera have purchased large quantities. They seem to have been prudent alike in respect of the extent of tho UabiUties incurred and the prices paid. The business is healthful and legitimate. The raanufacturers are content to work for small pay, but they feel sure of their pay. Fail¬ ures aro infrey day. The vast ancient river beds of the Pliocene and ofcher tertiary formations are full of gold, as is the great ancient river bed supposed to run pai'allel to the western slopes of the Sierras. The future iu California ig not ouly hopeful, bufc ifc is also in the ofcher states and territories of the Pacific Coast. The bonanzas of Nevada have nofc all been discovered, while those of Utah, New Mexico aud Arizona are hardly touched. The latter has still some of the finest silver mines of tho world buried iu the recesses of its mountains. Sorao have boon worked before, centuries ago, but only the cream of the vast deposits has been unearthed. Next door to Arizona in Souora tho cor¬ respondent of the Post in this city speaks of big bonanzas. These and their auriferous and argentiferous glories remain to b© revealed and will be in tho nofc distant future. It has been suggested to us that the merchants of San Francisco should devote half a raillion a year to prospecting. We think the idea a good one and that there would be returned them reward a hundredfold.; After all we were never half so prosperous as when the big bonanzas of Nevada were pouring tho loads of gold and silver infco our doors and when they were distributed by a raillion'life-giviug currents amongst our people.—"S'ttJi Francisco Journal of Commei'ce. The Fire and Police Boats. The new police and fire boats will afford the protection of Ufe and property long needed npon the water front. Brooklyn has never adequately protected the vasfc interests which Ue upon her borders, and the ravages of tire and the depredations of thieves have been leffc to private vigilance to prevent and dereat. In the rows of bonded warehouses in our miles of water front there are millions of valuable property, and fire has caused great devastation among them. The services of the fire boats of New Vork have beeu frequently secured to quench conflagrations. At one tirae it was proposed to forman association of the owners of property on the water front to equip and maintain a flre boat, bufc the city has finaUy talien the matter in hand and the *'Seth Low" wiU soon be ready for use in case of the outbreak of flames anywhere on the wharves. Another of the improve¬ ments brought aboufc under Mayor Low is the new police boat, the " Judge Moore," which will be eraiiloyed to patrol the water fronfc at night and prevent the depredations of river thieves.—Brooklyn Daily Times. Chinese Interests In America. The journals, politicians aud so-called professors of political ecouomy who oppose all restrictive legislation upon Chinese immigration never fail to find fresh texts for their hobby in anti-Chinese riots. The detestation of such hoiTors as the Wyoming massacre can uot be held by the.se doctrina¬ rians as a monopoly, ns all civilized men of any aud all phases of opinion must condemn such villaiiy quite as bitterly as they. But if their sagacity were half way equal to their pretended charity they could uot avoid seeing very distinctly that such occasional outbreaks of hate iu a murderous form testify to the abiding presence of a settled—general and uitense, though sul¬ len and undemonstrative—antipathy to the Chinese araong the whole body of Araerican workingraen. This antipathy expresses itself on the part of law-abiding raen in the forra of restrictive legislation, but in another class ifc takes tho forra of yioleuce and mui-der. As a generic sentinieut it ia