"This is the focus of what Aristabulus Bragg calls the town trade," said John Effingham, when fairly confronted with all these wonders. "Here, then, you may suit yourself with any species of real estate that heart can desire. If a villa is wanted, there are a dozen. Of farms, a hundred are in market; that is merely half-a-dozen streets; and here are towns, of dimensions and value to suit purchasers."
"Explain this; it exceeds comprehension."
"It is simply what it professes to be. Mr. Hammer, do us the favour to step this way. Are you selling to-day?"
"Not much, sir. Only a hundred or two lots on this island, and some six or eight farms, with one western village."
"Can you tell us the history of this particular piece of property, Mr. Hammer?"
"With great pleasure, Mr. Effingham; we know you to have means, and hope you may be induced to purchase. This was the farm of old Volkert Van Brunt, five years since, off of which he and his family had made a livelihood for more than a century, by selling milk. Two years since, the sons sold it to Peter Feeler for a hundred an acre; or for the total sum of five thousand dollars. The next spring Mr. Feeler sold it to John Search, as keen a one as we have, for twenty-five thousand. Search sold it, at private sale, to Nathan Rise for fifty thousand, the next week, and Rise had parted with it, to a company, before the purchase, for a hundred and twelve thousand cash. The map ought to be taken down, for it is now eight months since we sold it out in lots, at auction, for the gross sum of three hundred thousand dollars. As we have received our commission, we look at that land as out of the market, for a time."
"Have you other property, sir, that affords the same wonderful history of a rapid advance in value?" asked the baronet.
"These walls are covered with maps of estates in the same predicament. Some have risen two or three thousand per cent. within five years, and some only a few hundred. There is no calculating in the matter, for it is all fancy."
"And on what is this enormous increase in value founded?--Does the town extend to these fields?"
"It goes much farther, sir; that is to say, on paper. In the way of houses, it is still some miles short of them. A good deal depends on what you call a thing, in this market. Now, if old Volkert Van Brunt's property had been still called a farm, it would have brought a farm price; but, as soon as it was surveyed into lots and mapped--"