New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-01-19
AN HONEST DOLLARS WORTH OF HOUSE
SUGGESTIONS AS TO HOW LANDLORDS CAN BE
MADE TO GIVE 1T.

AN HONEST DOLLARS WORTH OF HOUSE
SUGGESTIONS AS TO HOW LANDLORDS CAN BE
MADE TO GIVE IT.
To the Editor OF The Tribune
Sir: Referring to your article on Fair Rents
FOR Homes" in the issue OF December 3. 1t Is quite
true as there stated Geography by no means
excuses high rents" 1t Is equally true that, Gifts
OF homes to the poor or houses in which they live.
as a matter OF favor, will not serve the purpose"
Continuing the article states But fair business
dealing with them giving honest dollars worth
OF house for honest dollar. will do much 10
Improve the moral condition OF the city.
Doubtless you will concede that the article would
be more satisfactory, did 1T show how the poor may
get IAN honest dollars worth Of house" There's
the rub. That Is the point which alone gives value
to any discussion 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 1t TO their interest to do So Lot
US see how I may be made their interest. II pays
as well now ell things considered. to hold land out
OF use or partly used. TO loan the market price
OF 1t at interest That is 10 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. money-lenders
would cease to lend and buy land. But they
actually do both OF these things to just such
extent preserves an equilibrium between the
average rate OF interest and the average rise
in land values. 1t Is. therefore, matter or
secondary importance, when not OF indifference,
TO the landowner whether he improves his land
let's 1t lie idle II he does improve. his interest
is to furnish to tenants the poorest and cheapest
possible house that he make them pay an
honest dollar" for. And, as the interests OF all
landowners alike in this respect they do not
ing to furnish an honest dollars worth OF house
for honest dollar" with what result We every
where
Now let US see how small a thing will change
the current OF his thought. IL the taxes now laid
improvements abated and the same
amount added to the present tax on land values,
ii is easy TO that IL would at once become
losing business 10 hold land out OF use or partly
used. and more profitable to build houses. Space
will not permit TO make calculations here.
II taxes now laid on personal property also
added the land values the landowners
need to improve would be still urgent. 1t
would be quite impossible for any owner to hold
land without using II, and, 1t may be added, with
out putting II to the best TO which the needs
OF the community considered the site is suitable.
Thus situated II needs further argument to show
that landowners would find their interest In fur
nishing the best possible homes well as all other
improvements. for honest dollar" and compe-
tition among them would quickly lead to fair
business dealing" between them and the poor and
those in moderate circumstances who need homes.
Imagine, II you can. the change that would occur
II all the landowners in New-York were forced
least money consistent with the needed outlay OF
capital instead of the poorest house for the
money they can get and you have that condition
which the shifting OF taxes above outlined would
produce II would solve the problem of cheaper
and better homes on Manhattan, as the great areas
OF unused and partly used land attest.
JAMES S. REYNOLDS
San Francisco, Jan. 5, 1885,