Great Boston Fire of 1872 - Aftermath

Aftermath

The fire rendered thousands of Bostonians jobless and homeless. Hundreds of businesses were destroyed, and dozens of insurance companies were bankrupted. However, the burnt district was quickly rebuilt in just under two years, mostly from the private capital of Boston's commercial property owners.

City planning during the post-fire reconstruction caused several streets in downtown Boston to be widened, particularly Congress Street, Federal Street, Purchase Street, and Hawley Street, and reserved the space for Post Office Square. Most of the rubble and ruins of the buildings destroyed by the fire was dumped in the harbor to fill in Atlantic Avenue.

Boston issued bonds for use by 16 private property owners in the downtown area to rebuild. A citizen who lived outside the area sued successfully, arguing that the bonds were a transfer of wealth from one set of citizens to another.