REASONS WHY RENT WAS REASONABLE AND REAL ESTATE LOW IN NEW YORK CITY IN 1800.






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      Property in Pearl street, in 1800, could not have been worth a great
sum. The rent of a three-story house and store beneath did not exceed $400,
and the cost of the building and lot, 25x100, was not over $4,000.
      There are several good reasons why rent was reasonable and real estate
low. In 1800, the taxes were comparatively nothing. There was no water rent.
People swept the streets. The lamp-lighters used the oil given them for
street-lamps, and did not (as was done in after years) use dirty, cheap oil,
and sell the costly city article.
      There was no army of 2,000 policemen to support, costing tax-payers at
least $2,000,000. On the contrary, one hundred steady and brave watchmen did
duty at night, and earned their one dollar. These "good old leather-heads,"
with their clubs cost the city $25,000 a year. Not a dollar more,---and how
few robberies, rapes and murders were committed in those good old days. The
population was smaller in 1800 than in 1861, and of course more honest. The
early people did not know anything about swindling sewer and other
contracts. Street opening was not expensive, as people not interested did
not have to bear the expenses, as is now done. For instance, Chambers street
was extended for no special purpose except to benefit a few, at an expense
to others, of a million dollars, and many houses taxed from two dollars to
twenty-two hundred dollars, that do not receive twenty-five cents benefit.
Over 6,848 houses were taxed for this scheme. Also, look at opening the
Bowery from Chatham to Franklin Square, at a cost of $600,000. Over 800
pieces of property assessed for this purpose. These assessments are made
from Old Slip to Fourteenth street. Even the projectors of that scheme have
realized no benefit from it.
      Such things were not done in 1800, consequently it was safe to own
real estate in those days.

This is an excerpt from:

Source:  The Old Merchants of New York City
Author:  Walter Barrett, Clerk           Second series
Publisher:  Carleton, Publisher, 413 Broadway
Entered according to the Act of Congress 1863
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Researched and Transcribed by Miriam Medina
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