Yet it is a
fact worth recording that the general principle upon which affairs were
conducted was an honest one. The land was a fact, the buildings put up
were facts, and there was actually a certain amount of capital, of
genuine ready money, in use. The whole matter can be explained in a few
words.
The population of Rome had increased considerably since the Italian
occupation, and house-room was needed for the newcomers. Secondly, the
partial execution of the scheme for beautifying the city had destroyed
great numbers of dwellings in the most thickly populated parts, and more
house-room was needed to compensate the loss of habitations, while
extensive lots of land were suddenly set free and offered for sale upon
easy conditions in all parts of the town.
Those who availed themselves of these opportunities before the general
rush began, realised immense profits, especially when they had some
capital of their own to begin with. But capital was not indispensable. A
man could buy his lot on credit; the banks were ready to advance him
money on notes of hand, in small amounts at high interest, wherewith to
build his house or houses.
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