Morning appeal. [volume] (Carson City, Nev.) 1877-1906, 1901-02-16
NEVADA'S
: PROSPERITY.
HOW IT NAY BE INCREASED
BY REVISION OF TAX
LAWS.
Written by Wells Drury, Form
erIy A Member OF the Me-
vada Legislature.
no. ) !

Chief among the hcral1s Of prosper
lty in the past year have been the,
newspapers of Chiraeo. They ali
argued in saying thai such an era OF
commercial activity was never before
known, aud similar reports came from
New York. We Of Tie Pacific Coast
know that millions have been poured
into the channels OF 1.ada in san
Francisco, and every branch Of mer.
camille pursuit has been simulated.
Yet the real estate market remair>
stagnant in ali Of the-o cities.
The San Francisco ''Dulletin," of re-
cent date contained the following signi-
hcant editorial article:
The Chicago '.l5riouue" I. some
what disturbed over the failure o. real
estate TO respond to the cctaial in
provement 10 business Tie Fri
bune'' says thai hitherto every paGic
has been followed in the course of time
by a revival in land speculation. II is
the rule OF real estat, to be the last to
move, but IT, does not usually take
three years for men with money to
find out that real estate IS a good in
vestment. The Chicago "Tinles- Her
aid" reproaches the Tribune for its
lack OF faith ia the real estate value in
Chicago, but prudently omits to fix a
near date for the coming movement
1t thinks. however, that those who
hold during the next five years will be
rewarded for. their pluck and their
patience. Five years under present
conditions is a long time TO spread a
prediction over. Commodity values
have gone up too rap!dly to continue.
and when the turn comes real estate
will share the general depreciation
There is Vast difference between
Chicago and San Francisco in this re
spect. Chicago real estate was advapc-
ing while II hat OF San Francisco was re-
ceding. In San Francisco we have had
nine years of falling real estate values
During the last year values have been
steady, but as yet there is not gen
eral ad vance.
There is a slight Improvement in the.
real estate market in San Francisco
since the becinning of the present year
but prices are nothing like as good A.
they were in the nine years mer toned
by the "Buletin.
George W. Kline, cashier Of the
Croker W oolworth bank of San Fran
cisco told me recently that taxes on
real estate in New York City amounted
20 2! percent year which, he remark =
ed, was equal to interest on jnves tmcnt
in that city and left little or no margin
for speculation. This of course, would
do away with holding land out OF use
for speculative purposes. The real
estate market OF New York. except for
land to be put to ilnmed late prod uctiv {
use, is consequently stasnant, the same
as in Chicago aud in san Francisco.
New York is wallowing in wealth and
all kinds of profits have been leapaH
IRON the war with Spain as well as
from the tusslo now going on between
the British and the Boera. According
to ideas ordinarily accepted By the
public, real estate values ought to have
advanced in these three cities. Why
did they nots Sinply because per
sonal property was IN great measure,
relieved from taxation. and as ma
tural and inevitable consequence The
burden of additional taxes had to b,
land The lower is its selling price. bu
its value for business purposes Is no
Diminished. Thoughtful people vii
be delighted to note that this taliln!
of in selling price of lame. cid rot inter
fere with the prosperity Of the com
munities mentioned. Us matter G
fact the easier it is for uaors Of lana t
pet possession Of land, the better it
for the community. The more land
taxed, up to the limit of its ecOnomi
rental value, the easier it is for aclu;
users to obtain possession of it. Tha
is why the Single Tax plan would wor
good in two ways - first by stimulatin
human endeavor because Of the e>
emption Of personal property and in
pro7ements, and in the second place b
facilitating the efforts OF actual user
of land to get possession or occupanc
of land.
WELLS DRURY.