Economic Cycles

Economic Cycles
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We all know how the economy goes in cycles. Prosperity ... recession ... boom ... depression ... dotcom ... dotbomb. And on it goes. The cyclical nature of the market-driven economy is nothing new. Likewise in the history of land values, a subset of the broader economy. The abrupt fall from grace of one of Toronto's leading men was largely due to overly-enthusiastic land speculation in the years leading up to the depression of 1894. Here is our first installment of a chapter in Scarborough's history that would make for a great movie -- flamboyance, scandal, intrigue... this story has it all!

The Return of the Ex-Warden of York

The magnetic personality of D.G. Stephenson, ex-Warden of York, whose sudden departure from East Toronto a little more than a year ago caused so much disturbance to the social fabric of the neighborhood has once more moved in the streets of Toronto. A resident of Little York rode on the same train with the ex-Warden from Hamilton. Mr. Stephenson wore heavy workingmen’s boots he noticed, and his face bore a look that indicated that life since leaving the village had not been of the pleasantest. The train reached Toronto a little after 8 p.m., when the ex-warden picked up his valise and disappeared on the dark side of the station. It is understood that Mr. Stephenson is gradually making good his liabilities.

The Scarboro Heights Record V11 #8
The Fanny Annis Scrapbook

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