Columbia University Libraries Digital Collections: The Real Estate Record

Real estate record and builders' guide: v. 44, no. 1118: August 17, 1889

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August 17, 1889 Record and Guide. 1127 -^r ^> ESTADUSHED'^N^MtpH^lti^lSea.; De/oxeQ to f^L Estme , SuiLoif/c Aj^cKiTEtrTJi^E .HousErtoui DzeoR^not*. "^' Bi/sit^Ess aiIdThemes Of GE^E[i^Ll,NT£ri,HS7 PRICE, PER YEAR IIV ADVANCE, SIX DOLLARS. Published every Saturday. TELEPHONE, . - - JOHN 370. Communlcatlojis should be addressed to C. W. SWEET, 191 Broadway. /. T. LINDSEY, Business Manager, Vol. XLIV. AUGUST 17, 1889. No. 1,118 The daily papers of this city have, metaphorically speaking, thrown up tlreir hats in approval of the Exposition committees which the Mayor has appointed. Undoubtedly the names selected are good ones; they are the names of men well known by every¬ body, and if we needed reception committees for any purpose, or names to preface an appeal for a citizen's meeting or anything of that kind, they would do admirably. But in thia affair of the Exhibition, in which New York has at least two energetic rivals to cope with, something more thau names is needed, aud that some¬ thing is hard workers. Under certain conditions Mi-. Gould's name might possibly be a tower of strength to a financial enter¬ prise, so might that of Mr. Himtington and many others to be found on the Mayor's list, but these gentlemen themselves would be the first to admit that better ones could have been chosen to do the hard planning and hard working that must be done if the quadri- centennial Exposition is to be held in New Tork, Of course these remarks do not apply to the names of all the committeemen, but it does to a great many; and it is because the committees are committees of good names and not because they iire com¬ mittees of hard workers that the daily press applauds. The problem before us is entirely misunderstood if it is thought that all New York has to do to obtain the Exposition is to write down a number of well-known names of men who have little time to spare from their own affairs and display them before the country. It has already been stated in these columns that Washington has been at work for many weeks while New York scarcely thought of the Exposition, and has obtained the written support of the Gov¬ ernors of many States and the Mayors of several cities; and as to Chicago—well, a gentleman returning to New York from a visit in the Northwest passed through Chicago the other day and asked a friend "How about the Exposition?" "It's all settled," was the reply. " We have got it," The week in Wall street has been a waiting one, with no decided manipulation from either bull or bear. A noticeable feature is the almost entire absence of foreig-n orders to buy our securities, with the exception of what httle the German element may be doing in the Northern Pacific stocks. There is no reason to change anything which has been said in these columns for two weeks back, and, barring frosts and tight money, there is no danger in accumulating good stocks, particularly Northwest, Rock Island and Bm-hngton. The West seems to have sufficient money, and is not likely to make any very urgeut demand on the East for the moving of the crops or for any other cause. The reverse of the condition of the wheat crop of a year ago now exists. In August last wheat began rising in price, and the heavy frosts of the 13th of August, which did so much damage, was the signal for the speculators to begin the work wliich finally raised the price of a bushel of wheat to a point that prohibited export demand. This year we will ship largely—probably 70,000,000 bushels more than last year—and it is not rash to predict that very soon foreign exchanges will be largely in our favor. There is altogether too much money in the Treasury, and something must soon be done to restore a large part of this to its accustomed chan¬ nels. So fai- Ml-, Windom shows no more sense than any of his predecessors, but seems disposed to wait for actual stringency in the money market before he takes any steps to help it. The sectional feeling that is being manifested as to what city shall be the site for the proposed World's Fair is producing an unpleasant exhibition of bad manners on the part of the daily press. Even the New York papers, which have lately been free from the full-flavoredvituperationof provincial journalism, have embellished the controversy as to sites with epithets which must have made the rhetoricians in the Chicago and St. Louis editorial rooms fee) that even in the effete East there were still some masters of a "live style." Seriously, however, nothing is to be gained by crying " windy city," "mushroom town," because some Chicago black¬ guard thinks he scores a point on New York by caUing it " the rotten democratic [town on Manhattan Island," or " the daughter of the horse-leech crying, ' Give, give I'" as the Chicago Tribune does. Let us frankly admit that Chicago is a marvellous and magnificent city, and that its claima deserve full Consideration, as do those of Washington, New York and all other places where it is possible for the Exposi¬ tion to be made a success. It is for New York to show that she can really do better than any other city in the Union. If she can't demonstrate that then she should have patriotism enough even to demand the selection of the better site. After all, the Exposi¬ tion is to be a national affair, and the selfishness of no one city, State or section should be allowed for a moment to stand in the way of the vastly greater interests of the entire country. It is a lamentable fact that from sweeping the gutters to the con¬ duct of national affairs nothing of a governmental nature in this country can be kept free from the debasing influence of politics. In reading the consular reports, published since the beginning of the Harrison regime, it is curious to notice the complete change in the tone of the reports compared with what it was when Cleveland was in office. Then the statistics and facts sent to Washington were frequently given a twist in the dii-ection of the economic principles of the ruling administration. With statistics as with Fi-ench cook¬ ing the x>rincipal thing is the sauce, and a year ago our representa¬ tives abroad cooked theu- reports on Sheffield mamffactures a la free trade, and their statements about the French currency came with a strong- flavor of monometallism. Now it is all changed; and our consuls seldom loose an opportunity to show the efficacy of subsidies in building np a merchant marine and how essential pro¬ tection and bimetaUism are to the prosperity of a nation. It is plain that all this is principally "politics;" excursions into "political" economy which it would be much better were they uot taken, as few of our consuls are men whose opinions on these matters ai-e of very- great value to anyone. There is quite enough of it in the partisan press to satisfy everyone. The Republican who finds that statistics cooked to suit his taste add a zest to existence can obtain tbem in the Tribune 3.nd the Press, axid the Democrat has even a wirier choice. Our consular seiwice should be for the benefit of the entire nation; and the reports should not be used as the propaganda of the economic principles of any party. Postmaster-General Wanamaker has incun-ed a good deal of criticism by his action in putting the government rate of compen¬ sation for its telegi-aphic services at one mill per word, but he is still more open to censure from his attitude since he issued the official order. A public servant that descends to controversy and explanation with a private individual through the newspapers about an act perpetrated in Ms official capacity cannot be regarded as a dignified governmental officer. An executive has a number of ways of justifying himself, in case any action of his is severely criticized, and still preserving his dignity. In Great Britain a per¬ sonal explanation to the House is the best method; in tliis country a written communication to Congress, incorporated in his regular annual report, or, if it is of enough importance, in a special mes¬ sage to Congress, is sufficient and proper. But in no case should a Cabinet officer begin a conti-oversy with a private citizen affected by his acts; his argument should be preserved for the President and Congress. Tlie dissension that is now disturbing the camp of the "Single- taxers" is such as sooner or later occurs in all " one man move¬ ments." The followers, or certain of them, run ahead of their leader; dissatisfaction ensues, and the chief who perhaps bas learnt from the crijcism of his opponents to be conservative, is charged with being a traitor bent upon taking- his forces over to the enemy. As a matter of fact, it is the followers who have changed their position and not the leader. This is the situation in which Mr. George finds himself to-day. There is no reason for believing that he ia forsaking his principles, or contemplates burning his books, lower¬ ing his Standard and coming out in defense of the sacred right of the individual to the unearned increment. We are sorry to see Mr. George " among the prophets," and the multitude of vendors of economic panaceas for the regeneration of Humanity, which are crying their wares in the market these days, but unfortunately there is little doubt that he is there, in the vulgar phrase, " to stay." The Pentecost wing of the single-taxers comprises the extremists of the party who object to have their enthusiasm fettered by prudence, and who disdain the common sense that dictates the advisability of going around a stone wall when it is impossible to climb it. If it were not disrespectful we should say they were the out-and-out cranks of the movements—men, who like the King of old, desire then prophet to curse them then enemies from all and every point of view, Mr. George has stated his position very clearly in the last two numbers of his paper, and not even those who oppose most bitterly his economic teachings have ever had auy cause to charge him with not being entirely frank. It appears that some " single- taxers " are in favor of robbing the owner of real estate (in the name of taxation) of all the economic rent, whereas other single-taxers iH