When the time came for the inauguration of President Washington, on April 30, 1789, in New York City, the Continental Congress was completing its sessions, having resided in that city from 1785, a period of four years. Of a population of 25,000 in 1776, the city in 1789 had a population of only half that number, due to the continuous occupation by the British Army for a period of seven years. During the evacuation the city was partly ruined. But a new era began; trade increased, and the city began to grow rapidly. The Continental Congress was meeting in the old city hall, which had been used by the British as a prison and was in a dilapidated condition. As Washington was to be inaugurated in New York, the people thought that city would become the seat of government, so the city hall was torn down and a new building erected on the site where the subtreasury building on Wall Street now stands. It was recognized that the presence of that national body was a valuable asset to the city. Pierre Charles L’Enfant, who late in 1791 made the plan for the Federal City, was selected to design and construct the building. When the Members of Congress assembled for the First Congress under the Federal Constitution, they met in a building constructed with classical arches and columns, painted ceilings and marble pavements, and furnished in a magnificent manner with crimson damask canopies and hangings. The exterior was marked by a portico with arcaded front and highly decorated pediments. But the building had been erected too rapidly to endure permanently; poor work had been done, and in a few years it was demolished. The building was called Federal Hall. Here on April 30, 1789, a date never to be forgotten in the annals of American history, George Washington was inaugurated first President of the United States of America. The spot where General Washington stood is now marked, as nearly as possible, by the J. Q. A. Ward statue of the first President, which stands in front of the subtreasury building on Wall Street. Just inside the door, preserved under glass, is a brownstone slab on which is inscribed: STANDING ON THIS STONE, IN THE BALCONY OF FEDERAL HALL, APRIL 30, 1789, GEORGE WASHINGTON TOOK THE OATH AS THE FIRST PRESIDENT OF THE UNITED STATES OF AMERICA