1869." Modern House-Building. 523 such usual occurrence, that it is not worth while to dilate upon it ; but the taking up of acres of ground, and the building it up solid, in a few short months, with houses of various sizes, is an achievement, that, a few 3-ears ago, would have been thought as impossible as were once supposed to be the tri- umphs of the steam-engine and the tele- graph ; which have since demonstrated, that the mind of man is divine, and pos- sessed of a subtle essence, enabling it to make tangible visions of greatness and power seemingly miraculous. The characters of large districts have been at once defined, by one builder, erecting several hundred houses. He starts a city of his own ; and decides what class of residents he will have. Extensive operators, generally in con- nection with some well-known capitalist, purchase, saj T from five to ten acres, in ground convenient to the centre of the city, and arrange to erect upon it, say from fifty to one hundred houses, each season, until it is all built up. The lot is divided by the city streets. Upon the main ones, houses of as large size as the neighborhood will warrant, are built ; and, upon the by-streets, smaller houses are erected, thus affording houses for all classes of society. IS'o house is built upon a street less than twenty-five feet wide, thereby affording ample means for ventilation, drainage, water, gas, and travel. All houses in Philadelphia are built under the direction of the Building In- spectors ; and in accordance with the law, provided by Act of Assembly, which insures sufficient strength, according to the size of the house ; and as much pro- tection as possible from fire. The streets are all paved and curbed. Water, gas, and ample sewerage are introduced into each house, no matter how small ; and all the other luxuries of building, as the style of the house may warrant. The immense amount of money re- quired, to carry such an operation through successfully, is obtained in a very simple and easy manner, providing the parties have sufficient confidence in one another; for, like every other trans- action in this life, from the cradle to the grave, building; houses is based on faith. In the first place, the value of the land is decided ; and apportioned upon each lot. The owner of the land then agrees to loan the builder a certain amount of money, generally about one-third the cost of erecting a building of the size determined upon ; which amount is ad- vanced to him, in instalments, as the building progresses. To secure, to the owner of the ground, the price for the lot, and the money advanced, the builder gives the land-holder a mortgage for the two amounts together, usually aggre- gating about one-half the value of the lot and house finished. This mortgage is made paj-able after a term of years ; and, being a good security, is recorded before the buildings are commenced. This gives it a priority over mechanics' liens, and makes it, in the hands of financiers, an available asset. Now this being done, it is the builder's next ob- ject to bring about him able and respon- sible mechanics — men to assist in carry- ing out his scheme — and proper mate- rials. In other words, he organizes a huge partnership, in which each operator in the houses takes whatever interest in the houses may be agreed upon, and receives a certain share of the cash, as the work progresses. It is in this partnership, that the greatest faith must abound; for, if confidence in the truth and honor of the builder is de- stroyed, the whole concern must end in disaster and ruin. The operation being one of large and extended credit, the integrity, as well as the ability of the builder, is a matter of the first conse- quence. In the early days of such en- terprises, bad faith seemed to abound ; mairy frauds were committed ; and the whole system fell into disfavor ; but, later, when it came to be better under- stood, and managed by able men, it was found to be the only way to solve the
