The Opelousas courier., 1895-04-27
AN HONEST DOLLARS WORTH
OF HOUSE.

OF HOUSE.
suggestions as to How Landlords Can BE
Made 10 Give 1t.
To the Editor of the N. Y. Tribune:
Slr:-Referring to your article on
Fair Rents for Homes in the issue OF
December 8, it is quite true, as there
stated: Topography by no means ex.
cuses high rents 1t is equally true
that, Gifts Of homes to the poor or
houses in which they live, as a matter
o. fasor, will not serve the purpose
Continuing, the article states: but
fair business dealing with them, giving
an 1onest dollars worth of house for
anNhonest dollar, will do much to
improve the moral conditions of the
CITY,"
Doubtless You will concede that the
article would be more satisfactory, did
1t show how the poor may get "an
honest dollars worth of house
There's the rub. That is the point
which alone gives value to any discus
sion Of the subject of cheaper homes.
Happily, the answer is not far to seek.
Landlords will furnish cheaper homes
for an honest dollar" whenever they
find it to their interest to do so. Let
us see how it may be made their inter
est. 1t pays as well now, all things
considered, to hold land out of use, or
partly used, as to loan the market
price of it at interest. That is to say,
the average rise in land values, due to
the growth of population, is equal to
the current rate of interest on
money, all risks and incidents of
investment considered. Were this not
true, landowners would sell their
land and loan the money, or money
lenders would cease to lend and buy
land. But they actually do both OF
these things to just such an extent as
preserves In equilibrium between the
average rate of interest and the v
age rise in land values. 1t is, there
fore, a matter of secondary import
ance, when not of Indifference, to the
land wne whether he improves his
land or lets it lie idle. If he does i'm
prove, his interest is to furnish to ten
ants the nearest and cheapest possible
house that he can make them pay an
''honest dollar for. And, as the in
terests of all land wne are alike in
this respect. they do not compete with
one another in fair business dealing
to furnish an ''honest dollars worth of
house for an honest dollar" with what
result we everywhere see.
Now let Us see how small a thing will
"change the current of his thought"
If the taxes now laid on improvements
were abated and the same amount
added to the present tax on land values,
it is easy to see that it would at once
become a losing business to hold land
out of use or partly used, and more
profitable to build houses. Space will
not permit me to make calculations
here, but the reader car readily do that
for himself. If taxes now laid on per-
sonal property were also added to the
tax on land values, the landowners
need to improve would be still more ur-
gent. 1t would be quite impossible for
any owner to hold land without using
It. and, it may be added, without put
ting it to the best use to which the
needs of the community considered,
the site is suitable. Thus situat-
ed, it needs no further argu-
ment to show that landowners
would find their interest in fur
nishing the best possible "homes" as
well as all other improvements, for an
'shonest dollar" and competition
among them would quickly lead to
fair business dealing" between them
and the poor and those in moderate
circumstances who need homes. I'm
agine, if you can, the changes that
would occur if all the landowners in
New York were forced by self-interest
to furnish the best house for the least
money consistent with the needed out
lay of capital, instead of the poorest
house for the most money they can
get, and you have that condition which
tie shifting of taxes above outlined
would produce. 1t would solve the
problem of cheaper and better homes
orp Manhattan, as the great areas of
Unused and partly used land attests.
flames s. REYNOLDS.
San Francisco. =