The labor journal. [volume] (Everett, Wash.) 1909-1976, 1916-12-01
THEIRS AND OURS
NEW YORK CITY AND
NEW YORK HARBOR

| NEW lOIh ClIS' ne pCOplC VI thS
United States own lew York har-
Dor The city is THEIRS. The har-
Dor is OURS. This difference in
ownership makes an astounding diff
ference in the way that we handle the
two properties.
PRIVATELY OWNED RESOURCES
YIELD PROFIT; PUBLICLY OWNED
RESOURCES YIELD SERVICE. 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 a natural resource. Use
is the return for the public ownership
of a natural resource. The relation
between a resource held for profit and
resource employed for service is
spendidly illustrated by the situation
in New York
The land value of New York City
on January /, 1916, as given by the
Commission of Taxes and Assess
ments, was four billions, six hundred
millions of dollars. This value was
separate from the buildings and other
! improvements on the land which
amounted to little less than three
billions. A few years ago New York
was bought for a 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
through it would go elsewhere. The
value of the harbor is immense-yet
we take so little interest in the sub
iect that no effort has ever been made
to compute it. WHO CARES WHAT
NEW YORK HARBOR IS WORTH,
so LONG AS EVERY ONE is FREE
| TO USE IT?
A private syndicate, owning New
York harbor, could capitalize it at
hundreds of millions or even billions
and realize a handsome return on
their investment. BY taxing the trade
that passed through the harbor they
could pay dividends on an immense
valuation. New York harbOr, pri-
vately owned and capitalized at its
full earning 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 perma-
nent dweller, the traveller, the cotton,
silk and wheat that pass through the
city are all taxed to make up the
rental return to the landlord of New
York If this return is only per
cent on the assessed value of the
land, the people of the United States
pay $1S0,0O0,000 a year to the owners
of New York City BECAUSE THEY
OWN IT.
Every increase in trade, industry
and population increase 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 busi-
ness development on the harbor? 1T
INCREASES THE USE of this public
property.
New York harbor has never been
capitalized. Even the improvements
upon it are paid for out of government
receipts. The million dollars spent in
blasting the channel is not covered
by stocks and bonds that will draw
dividends and interest forever more.
The improvements on New York har-
Dor ARE MADE FOR USE, NOT FOR
PROFIT.
New York City is owned by land
lords who reap a profit of hundreds
of millions in return for their bare
ownership. 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.