New Orleans Republican., 1873-07-26
CONTRIBUTIONS TO PUBLIC IMPROVE
MENTS,

CONTRIBUTIONS TO PUBLIC IMPROVE
MENTS.
We can not regard it as healthy sign
| Of the times for a merchant to seek tc
| anhgonize the two interests Of landlord
and tenant For they are generally re.
ciprocal, being mutually dependent upon
each other. But prominent merchant
is credited with this observation: ''The
property holders do not seem wiling te
contribute anything to the advancement,
Of our commercial prosperity" If this
merchant expects our commercial pros
perity to be promoted and sustained by
contributions he is quite out Of the limits
of probability. And the property owners
| may as truly retort that the merchants o.
New Orleans do not seem to be willing &c
contribute anything to advance the in
terests of real estate owners.
In all countries the tenantry form the
| active forces Of the industrial and com.
mercial communities. The landowners
are passive. They limit their efforts to
putting as few and as cheap improve.
ments on their premises as possible, and
getting as much rent as they can, leaving
! it to the tenant to introduce facilities
and invent new ways to increase the
product, whether the business be agricul-
tural mechanical, mercantile, OF anything
else. As the active workers succeed from
time TO time, the landowners generally
are sharp enough to avail themselves of
favorable opportunities to raise the rent,
probably as a means Of stimulating the
producer to greater activity. But there is
check in the hands of merchants and
capitalists by means of which they can
protect themselves from oppression long
before it becomes very grievous. They
can own their own real estate. When the
rent rates are so high that they threaten
to eat up all the profits, the merchants
can enter the real estate market as COM
petitors. The laws of supply and de-
mand are in full force here, because our
lands are not entailed, but. on the con-
trary, sales are frequent.
We know of no remedy for absenteeism.
It has been the curse Of one Of the coun-
tries Of Europe, and it has afflicted this
State for years. No remedy short Of
harsh, and perhaps unjust one. would
effect cure. Many Americans hold that
no subject Of foreign power should be
permitted to own real estate unde, our
State laws, but there is abundant reason
to question the wisdom Of this regulation.
Nor are We prepared to recommend that
more common practice of ostracising abb
sentees as class, by refusing to have
anything to do with them. For instance,
under the teachings Of certain school Of
if the absentees had been Abo-
ltionists before the war, OF Republicans
since, their stores would have been per-
mitted to rot down before an average
Southern merchant would have rented one
Of them, or high-toned Southern COM
munity patronize him if ne did. But that
is a system that throws the expense of
keeping it up on those who act according
to the prejudice which is its vital prin-
ciple.
The proper way to proceed. we appre-
hend, would be for the merchants to
make all needed improvements in the
way of railroads, etc.. giving to real es-
tate owners chance to subscribe, and if
they refused, to buy up their property
and use it as basis Of credit in their
operations. 1t is a mistake in
any one. whether he be prominent mer-
chant or not, to suppose that a man i'm
pairs his capital by putting portion of it
IN real estate. especially in locality
where this description of property is ad
RANGING in value on account of the energy
md enterprise OF the inhabitants. Loans
BASED upon real estate security are uni
7ersally regarded by moneyed men as of |
he most desirable description. There
ore. if our merchants do not care to i'm
prove the property of the absentees in
France and Italy, the North, or elsewhere,
ct them buy land of their own, change the
'entre of business as we are witnessing now
n this city. and improve that. Neither
,arty. however, will pay out money to
dvance the interests of the other. We
ometimes contribute to the support Of
hurches and charitable institutions, but |
sually confne our sentimental subscrip-
ions to these objects. Dividend paying
ecurities are universally preferred in bust
ess matters and on the street. Unless,
herefore, the merchant or the real estate
wner is satisfied that his subscriptions to
abroad stock will bring him in dividends.
e will prefer to go on in the old way, and
ave public improvements to those who
an not find better way to invest money.
S rule. the State and national govern
tents. with here and there public-spir-
ed city are the only parties that subscribe
'eely to non-dividend paying stocks. But
ere the real estate man steps in and claims
lis to be q tax on his property almost
zclusively. for, says he, am I not tax
aver: Not so fast, replies the merchant.
[y opinion is tha: I pay your tax for you,
5 you receive much more rent from me
Ian you would but for the tax and the
lcreased value caused by the improve
tents which the tax was levied to pay for.
!, does not seem to US to make much diff
renee whether the merchant makes the