THE COST OF LIVING IN NEW YORK.

Otago Witness, Issue 801, 6 April 1867, Page 17

THE COST OF LIVING IN NEW YORK.

The New'Yfuk 'correspondent of the London Daily Telegraph, -writing in December, says: — There can be no doubt that in no city in Europe or in this country is the cost of living so great as in New York. During the late Vivil war this seemed a natural result ; but that Bince the close of the war, price 0 should have advanced instead of receding is a strange fact, but, nevertheless, one not to be denied. While the premium on gold was over 250, people oi course expected that prices would rise; 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 of consequences. Rents have risen enormously, but tenants pay them. To meet the increased demand, they sublet portions of their houses, and thus manage *o 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, doubtless, 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 enormolis cost 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 that during the World's Fair, to be held in Paris next spring, the cost of living would he high there. An approximate scale of prices wa9 given, and you may judge of what prices are here when it is added that the predicted Paris charges seem low in comparison. The result of such a state of thingshere 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 " bard times." Those who last spring so eagerly rented houses and stores at extravagant prices, are now dismayed. There is no business doing to warrant such expenses, and failures must take place. People living on small incomes have but the dullest prospects before them. The large commercial institutions are discharging numbers of their employes, in order to curtail expenses, as there is no prosperity. The people thus thrown out o£ employment know not where to obtain means to meet the extravagant demands Trade upon them, and there mu6t be much misery endured.

Of course there are the privileged few, who, more fortunate, have meang more than sufficient, and these make a great show at the clubs, the park, the places of amusement. Then New York, as the metropolis of the country, is always more or les9 overrun by transient visitors ; but the glare and glitter of the clubs, the 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 nnmerous class of persons who subsist on salaries or on small incomes. To these it is evident that ere long some such revulsion as that ot 1857 must come to set matters right. The political incertitude, the utter 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 might 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 of 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 must yet succumb to the force of circumstances, and undergo one' of those attacks which seem almost periodical here. One consolation is, that alter the attack the system of the nation usually seems cle r;-r and more healthy than before.