Henry Morgenthau

Transient, Floating and Permanent Populations - Growth in Twenty-five Years - Stability of Financial District - Twenty-hour Centers - Harlem as an Example - Tenement Districts - What the Future Promises

Real estate in any growing community, and particularly one with limited space and other exceptional advantages, is the surest and safest of all investments, because, as the population tributary to it becomes greater and denser, values steadily rise.

New York City is the greatest port of entry of the United States, is developing wonderful railroad terminals, and has one of the longest canals in the world terminating at her door. Her theatres, public institutions, art galleries, and many other features which attract visitors, constantly add to her success.

All these have multiplied so rapidly recently that even the most optimistic have been astonished. We have today such a large floating population that it would satisfy most cities to possess it as their permanent quota, and in addition have more than 500,000 persons poured into New York daily via railroads, subways, tunnels, ferries and bridges, which fill our offices and workshops.