The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1894-05-17
COSMOPOLITAN CLUBS DEBATE.
Capital rs Stored UP EabOr-Taxa-
Som Of rarnafarIaS

Capital rs Stored UP E~abOr-Taxa-
ton of Cemeteries.
The Cosmopolitan Club met last evening at
st. Johns Episcopal Church on Summit
e The subject for debate was,
s'origin of capital, what is capital and
where did it come from Before the meet
ing opened DIR. Stoddard was asked, "Why
should ~graveyards be exempt from taxa
tion.n In reply to this DR.. Stoddard said be
thought it was hard enough for the poor to
get buried now, without increasing the bur-
den by taxation. Mr.. Cole explained
to the questioner that it would not
do to have land containing dead
bodies and held sacred by their dear
ones sold for unpaid taxes; but in the case
Of a speculative Investment, as the New York
Bay Cemetery, where much Of the land has
not yet been occupied by dead bodies, he did
not see why it should be exempt.
The debate was then opened by Mr.. Frank
o. Cole, who was allowed five minutes. He
said:-sThere must have been a time when
there was nothing on earth at all. Civiliza-
ton was developed, and gradually the in
habitants accumulated what is called capt.
taI by their work. Mr.. Cole alluded to tho
Astors and the Vanderbilts and their differ
emit ways OF accommodating capital
Mr.. Ford was next called upon. He had
prepared an elaborate essay for the occa-
sion, and was allowed ton minutes to read 1t.
He took for his authority Mr.. Henry Georges
boob entitled, Progress and Poverty Mr..
Ford contidaed to read from this book until
his audience thought he had forgotten his
own essay, and DR.. Stoddard
drew his attention to the fact
that he has better read his
own essay as his ten minutes were nearing a
close Mr.. Ford believes that capital Is
stored up labor, or that which givls effect to
labor. Wages is the reward OF exertion.
All things which nave q value are called
capital. Capital Is drawn from the land. 1t
is the enemy to labor
Mr.. Dale next spoke. He believes that
capital is wealth lin the economic sense).
used for producing other wealth,
wealth is gathered it is called
capital. He believes that capital cannot
spring from capital alone, and sald:-"If
any man wishes to dispute this question, let
him produce a definition to that effect, and
then let us attack it"
John Moley next took the stand. He said:
-"An wealth springs from land, and there is
no doubt aboutit Here is a case Oft crooked
Boulevard passing through this county.
Since that crooked road has started to go
through the value of land has increased.
This increase is the upearned increment.
/ own q house on the boulevard and l
thought l could improve it by putting some
fancy WOrK on bne lfonG. 1uHleul6toly my
taxes were raised TO nearly twice their for
mer price. wrote down to Mr.. John Edel-
stein, the great politician, but it had no eff
feet. | don't believe in taxing q man more
because he allows two blades of grass
to grow where only M
grew before. How can the city
ever expect to contain n nice houses. /
believe in allowing the people to pay their
taxes up to their rental value" Mr.. Moley
oraxU very exeited during his speech.
The conclusion was reached that capital
was stored up labor. The next meeting will
be held ON the evening of May 81, when the
subject for debate will be "What is Labor.n