The Daily Dispatch: May 14, 1861., [Electronic resource]

The shoe Pinching.

‘ "The Journal of Commerce remarks that 'it is proof of the solid quality of New York's wealth that all the national troubles — past, present and prospective — have not had the effect of bringing down the valuation of real estate throughout the city. The total valuation, so far as can be now ascertained, will be fully equal to that of last year.'"

’ To which the Journal of Commerce replies as follows:

The Intelligencer must have overlooked what we said in our next succeeding publication, on the same subject. The following is an extract:

‘ "The assessors, following their invariable course, have made their assessments this year without the slightest reference to existing and prospective national troubles. In fact, the great bulk of the assessments was completed before the end of January, and before it was seriously supposed that the country would be involved in a civil war."

’ We are sorry to say that real estate here does feel the effects of the crisis very seriously. We doubt if, on an average, it would bring within 20 per cent. as much cash as it would have done a year ago. The more costly houses and stores suffer most.