Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1889-06-22
LAND AND WATER VALUES.
Some General Rules Which are Fully Met
by Conditions In Santa Fe.

4 recent issue Of the Chicago Econo.
mist contains three column article from
the pen Of our former townsm mas
W. Greene, OH the subject of land and
water values in New Mexico, and the
profits assured to capitalists who invest
in enterprises to bring them together and
render them productive. 1t is an article
| containing facts and figures which must
carry conviction to the business judgment
OF men at the east having millions OF idle
money for investment.
Among other things Mr.. Greene, who
has studied the subject for years, lays
down some general rules for success which
are so admirably filled by the conditions
prevailing here in the Santa Fe valley
that the New MEXICAN here quotes from
him few timely extracts:
1t is also demonstrated beyond possible
question, that wherever flowing water can
be carried and distributed over considera-
BILE bodies OF land, the expense will be
justified, even to the extent of $l5 to 500
per acre. In fact, scores of enterprises
in California and Utah have proven that
expensive reservoirs may be built; that
meager supplies OF water, accommodating
during the rainy season, every drop of
water saved by cementing the ditch bot
toms or using iron and cement pipes, botk
for the accumulation and distribution OF
the precious water; that expensive con-
duits, tunnels, timber fumes and NAM
moth structures OF masonry, are justified
from the financial point OF view. In these
latter cases, 500 an acre expended will
return high rate OF interest, while many
undertakings have warranted an invest
ment OF twice that amount, when meas
nred, as all such undertakings must be
finally measured, by their earning capacity
in the way OF dividends or profits to the
investor.
The relative value Of water and land is
stated by one writer, speaking Of the con-
ditions in southern California particularly,
as three to one-tllat is, il land without
water is worth SO an acre, it is easily
worth 1928 more to get sufficient sup
ply of water to irrigate it. This rule will
not apply in all, nor in most cases. There
are thousands of places where the land is
absolutely worthless without water, or
where the government price of it is only
Sl.25 an acre, which put under water be-
comes worth hundred times that
amount. Major Powell, of the United
States geological survey, estimates from
his large experience that any land wheil
irrigated becomes worth from $50 to 5000
an acre, and places the average value OF
irrigated land throughout the United
States at least $50 an acre. This value is
put upon it, not by its capacity to pro-
duce special crops, but for the ordinary
farm products, for which there is an un-
limited market
Wherever water supply can he pro-
vided to reclaim lands of an average
quality, taking the arid region as whole,
at cost per irrigated acre of less than
$40 per acre, it only needs fair manage
ment to be largely profitable. Where it
is possible to reclaim large bodies of land,
with an investment of not more than IS
IN acre the investment will prove excep-
ionably profitable, regardless OF the local
lty whether north or south. Every ad-
vantage OF climate, of adaptation to spe-
cial products, OF convenience for market
ing, and of communication, adds proper
.ionately to the desirsbility of the invest
ment.
1t pays. How much it will pay, how
much expenditure it will justify, will de-
pend on the local conditions. The better
the land the better the crops, and the larg-
er the profits. A climate which permits
two or three crops during the season
gives better results and will consequently
justify larger outlay. The facilities for
marketing products will be controlling
influence.