The morning times., 1896-10-11

IL Is practically Impossible for any one
branch of business to develop and grow to
the advantage of those engaged in 1t with
nut affecting other branches, beneficially
or injuriously. The continuous progress of
invention, by constantly dispacing labor
and superscding machinery, wherein large
amounts or capital have been sunk, never
to be wholly recovered, often brings dis
tress " individuals and classes, while re-
suiting in an average benefit to the people
as a whole.
| Considering the enormous steam boat
traffic on our Western rivers forty years
ago, when these natural highways equally
free to all, were literally alive with an in
dustry that could not be mOnopoliZed; when
boats running on short lines successfully
competed for local traffic with rser and
more expensive ones running on longer
lines, thus eliminating all questions Of
"lonS hauP' and short haul" now SO
veXatious in The railroad world; recalling
the vast number of boats loading or un-
loading at the wharves of the larger cities
along these rivers, where great and ever
changing hives of industry were handling
the products II labor from all climes and
countries, one whose memory goes back to
all this can scarcely avoid n feeling Of re-
gret that such magnificent industry, free
in all its parts, begapse of Its free high
ways, should have been displace soIargely
by the railroads. The thiGnNay ys uI which fn-
volve special grants by government, and
as consequence, more or less special
privilege.
OF the innumerable owners OF Western
| steamboats,, With their sturdy captains of
industry" few became notably wealthy,
while all were comparatively. thrifty and
independent.
WIun railroad development has come the
millionaire as manager in: chief, and at
the present rate OF Concentration in wealth
and means to wealth the entire railroad
business OF this country seems likely to
| fall within the shadow of some future bill
lionaire. Nevertheless, We boast OF our
magnificent railroad development, even
when coaNed into existence by grants of
public lands and the loaning of public cred
| lt, seemingly indifrerent to the fact that
| the business thus publicly aided was kill
ing off a great business that developed as
1t Was needed without government aid.
| Recognizing the locomotive as econOm-
ically superior TO the paddle wheel, the
| Steamboat people suffered themselves to
be driven fruin their accustomed pursuits
without complaint. not even asking why
the government should not aid them as
| well as the railroad managers
What natural necessity was there for
| governmental aid 10 the railroad business
| that did hot previously exist in respect of
the steamboat business: We contend that
| there was none whatever. Naturally there
| IL no economic reason why n railroad
| should be constructed when and where its
business Will not pay; but as a matter of
fact roads have been constructed where
| there was no Immediate prospect of their
| paying interest ON capital invested,
lDere are two reasons for this: One is
the development OF new communities re-
| mote from trade centers. due to land mo-
| nopoly there, and the desire to acquire the
monopoly of new locations The other is
la dos nf tt.ar rail-
monopoly OF the right or way CONNECTING the
new with the old community, in advance of
suillcleut population alOug the road to make
| Immediately profitable, SO as To head OFF
some other company when the business does
begin to pay.
REo. III OF LAND SPECULATION.
IL Is land speculators that both drives and
| attracts people TO such remote locations,
aud IL is land spectators involved In the
right OF way that induces The railroad people
10 seize upon II in advance of immediate
profit.
In this whole businessthc landlord and the
land speculator are the two silent partners
The landlord, rs such, simply appropriates
| rent for land in usei while the spccuiator, as
such, buys land, chiefly out OF use, for the
sole purpose nf selling IL at IA profit. Land
loruisin makes the businesser the land spec
uiator possible. and the latter. by holding all
available vacant land at price above its
present economic value for use, aud thereby
checking, temporarily, the demand OF pur-
chasers. tends constantly TO keep up the sup
ply OF tenants to lafdltrds NJ higher rentals
than could be collected if vacant land were
not withheld from the hiarket for unaccrued
values.
Natural rent being the equivalent of some
natural local advantage attached to gwen
piece of land, business can always afford
TO pay 1t; but when the advantage is an
flntt1
for present use equaitH ITS future value for
future Use when ne anticipated advantage
shall have become a realIty-purchasers for
present use are put totlle necessity of pay
ing for something which does not exist, and
If they ever get their money back it viii
come TO them as land SPECTATORS aud not
as producers.
we must not alloy yourselves to be con-
fused by the fact thslt the functions of the
landlord, the land Spectator and the pro-
queer are sometimes exercised by the same
fhuNlu 1nis MAKES TO CiIIerenGe i'll
the nature of the several functions
The land speculator may be aa eaterpris-
ing business man and as such he very use
iul To society, but he could be all this without
specializing in land at all. As land specu-
iator lie produces no wealth whatever, and
all his gains from this source are ut the
expense OF ihdustry-at-large. The only
check upon tins income unuGr existing con-
ditions is the paralysis of industry.
AS stated III former article in this col
uinn, the land spectators. considered to-
Scther, nave no means of knowing how
far INTO the future they can extend, their
operatlonS--that is to say. they have no
means OF knowing how much unaccrued
rent can he collected in the present selling
price of land, except the inability OF pro-
ductive industry TO purchase. ------
In The nature of things time must come
ar Inf in,
state of productive methods; later when
productive power is rapidly improving
when limit must be reached, beyond
which the price of land based on remote
possibilities, cannot be paid. But when the
speculator discovers this Limit he discovers
at The same time general stagnation of
productive business, il not an actual panic
At this very time there are here in
Washinstonf land spectators overloaded
and heavily mortgaged, who sorrowfully
regret that they did not lower prices
and get rid of their buulen before the
present depression OF industry set in To
all such persons the single-taxer extends
his sympathy. as he, does to all individuals
in distress, hut TO land speculatorsy Col
lectively and universally he can only say:
You are caught in your own net"
or course, the net is not of individual
or mere local weaving. 1t includes in
its meshes the whole world Of modern
civilization. If land specula tion were
mere local phenomenon, it would soon
exhaust itself by driving industry away or
checking immigration from other Com
munitics. But being all-pervasivc and prac-
ucally extending every where, and industry
having no avenue of escape, speculation
goes On, following up industry at every
point, and taking advantage'or every pros.
pective advance, until producers, laboring
under heavy mortgages to secure deferred
payments, or paying rents made unnat-