Denver labor bulletin., 1916-11-18
Theirs and Ours
New York City and
New York Harbor
BY SCOTT NEARING.

The landlords of New York own New
York city. The people of the United
States own New York harbor. The city
is theirs. The harbor is ours. This diff
ference in ownership makes an astound-
ing difference in the way that we han
die the two properties.
Privately owned resources yield pro-
fit; publicly owned resources yield SER
vice. The landlords of New York get
rent for their ownership of New York.
The people of the United States get use
for their ownership of the harbor. Rent
is the return for the private ownership
of natural resource. Use is the re-
turn for the public ownership of a ma
tural resource. The relation between a
resource held for profit and a resource
employed for service is splendidly il
lustrnted by the situation in New York.
The land value of New York city on
January / 1916, as given by the com
mission of taxes and assessments, was
four billions, six hundred millions of
dollars. This value was separate from
the buildings and other improvements
OF the land which amounted to a little
less than three billions. A few years
ago New York was bought for song.
Today that same land is worth more
than four and half billions.
No valuation has ever been put upon
New York harbor. If it were not for
the harbor New York could not be the
CITY that It is. The many cities that
surround it the railroads that run into
it the trade that passes thru 1t would
90 elsewhere. The value of the harbor
is immense-yet we take so little inter
est in the subject that no effort has
ever been made to compute it. Who
l,,- -lx,- = rrrth
so long as everyone is free to use it?
A private syndicate, owning New
Yorl, harbor could capitalize it at hun
dreds of millions or even billions and
realize handsome return on their in
vestment. BY taxing the trade that
passed thru the harbor they could pay
dividends on an immense valuation.
New power would yield huge profits to
its possessors.
The landlords who own New York
tax every person and everything that
seeks TO make use of the land lying
around New York harbor. The per
manent dweller, the traveller, the cotton,
silk and wheat that pass thru the city
are all taxed to make up the rental
return to the landlord of New YORK.
If this return is only four per cent on
the assessed value of the land, the peo-
pie OF the unlteu states pay Tio''o''.
600 year to the owners OF New York
city because they own it.
Every increase in trade industry and
population increases the taxing power
of the owners Of New York city. More
business means higher land values and
higher land values mean more rent.
What effect has business development
on the harbor? 1t increases the use OF
this public property.
New York harbor has never been cap
italzed Even the improvements upon
it are paid for out of government re-
ceipts. The million dollars spent in
blasting the channel is not covered by
stocks and bonds that will draw diyi-
dends and interest forever more The
improvements on New York harbor are
made for use, not for profit.
New York city is owned by landlords
who reap a profit of hundreds OF mil
lions in return for their bare owner
ship. New York harbor is owned by the
people of the United States and is open
to all for use on equal terms. They
reap profit from their property. We,
from our property, get service.