THE COST OF LIVING IN NEW YORK.

Press, Volume XI, Issue 1386, 17 April 1867, Page 3

THE COST OF LIVING IN NEW YORK.

The New York correspondent of the London " Uaity Telegraph," writbgiaDecember, says:- _ There can be no doubt that in no city in Europe or in this country is the cost ot living so great as in New York During * ne a * e c * v war n ' s seemed a natural result ; but that eince the close of the war prices should have advanced instead of receding is a strange fact, but nevertheless, one not to he'denied. While the premium on gold was over 250, people of course expected that prices would rise j but when it fell to the present figure, 145 to 150, there was a general expectation of a consequent reduction. The hope was unfounded, and at this time New York is, as I said before, a most expensive place to reside in. Strangely enough, the people here seem to submit to the extortions of vendors with something akin to a reckless disregard to consequences. Bents have risen enormously, but tenants pay them. To meet the increased demand, they sub-let portions of their houses, and thus manage to get along. They submit to increased demands from .servants, pay higher prices for all the luxuries of life, scarcely reflecting upon the fact that these latter demands might be defeated " by the slightest popular combination; such, for instance, as last year brought the butter merchants of this place and the omnibus proprietors to a sense of the power of the public. The merchants and proprietors in. question saw fit to make exorbitant demands ; as if by common consent no butter was eaten, and the omnibuses were not patronised. Business people walked down town, or rode in the horse-cars. In less than a week the price of butter and-the omnibus tariffs were reduced. It were a logical conclusion that, having thus ascertained their power, the people of New York would have continued to set aright all extortionate demands ; but the lion, though, roused, seemed content with its first victory, and returned to its lethargy, into which it has now sunk deeper than ever. The true explanation of this state of affairs may be found, doubtlees, in the fact that the enormous inflation of the currency has enabled capitalists to form such combinations and so to control articles of consumption as perforce to impose upon the public an enormous co3t of living; and while taxation is so arbitrary and so great here, the parties who sell can find excuses enough for high rates. A short time since it was stated in some of the journals thatj during the world's fair, to be held in Paris next spring, the cost of living would be high there. An approximate scale of prices was given, and you may iiidge of what prices are here when it 18 added that the predicted Paris charges seem low in comparison. The ■ result of such a state of things here cannot fail to be disastrous, and that at a nearer period than people may imagine. At present there is a great stagnation in business, and on all sides may be heard complaints about " hard times." v Those who last spring so eagerly rented houses and stores at extravagant prices, are now dismayed. There is no business doing to warrant euch and failures must take place. People living on small incomes have but the dullest prospects before them. The large commercial institutions are discharging mumbers of their employees,in order to curtail expenses, aa there is no prosperity. The people thus thrown out of employment know not where to obtain means to meet the extravagant demands made upon them, and there must be much misery endured. Of course there are the privileged few, who, more fortunate, have means more than sufficient, and these make a great ehovv at the clubs, the park, the pkees of amusement. Then New York, as the metropolis of the country, is ,always more or less overrun by transient visitors; but the glare and glitter of the clubs, and ostentation of the wealthy parvenus, or the extravagant, expenditure of visitors or seekers after pleasure, do but hide the gene, the uneasiness, and suffering of the more numerous class of persons who subsist on salaries or on small incomes. To these it is evident that ere long some such revulsion as that of 1857 must come to set matters right. The political mcertitude, the xitter want of public confidence, the lack of means in the South, and the consequent loss to the North, are all causes operating towards the accomplishment of what is styled here a " crisis ;" and, unfortunately enough, the only parties who BVglit prevent the mischief — who might save the country from the impending season of disaster —seem blind to the consequences of their want of thought, of their reckless pursuit pi power and influence, and increase instead of diminishing the public fear. •Boundless as are the resources of this •country, there is reason to fear that it auat yet succumb to the force of cir-

cumstances, and undergo one of those attacks which seem almost periodical here. One consolation is, that after the attack the system of the nation usually seems clearer and more healthy than before.