The labor world. [volume] (Duluth, Minn.) 1896-current, 1917-08-11
LAND VALUES In
NEW YORK CITY
BY SCOTT NEARING.


that do not happen anywhere else in
the United States, but the direction of
change in New York is worth noting,
because New York is doing some Of
the things that all of the cities in the
United States are aiming to do.
New York city, like every other
American municipality, has been
making some interesting experiments
in the private ownership of the land
At the same time, she has undertaken
to make improvements on a stipend
Gus scale. The subway system alone
will cost about four hundred millions
Her other improvements are rated ac-
cordingly.
What do these improvements do?
Take one instance from the subway
construction. A study was made by
the New York City club (Homer
Folks, chairman Of the transit COM
mittee) regarding the increase in land
values resulting from the construction
of rapid transit lines. Along the route
as given by the department of taxes
and assessments, were taken for the
year Of 1900 on vacant lots. These
were compared with the assessment
values of 1907, the figures in each
case representing 100 per cent valu-
alton. ITO ascertain the proportion
of the increase in land value attribut-
able to the building of the subway,
1t was necessary to deduct from the
total rise what might be termed a
normal rise, or the increase that
would have taken place through the
natural growth Of the city, without
added stimulus of new transit line"
This normal rise was determined by
taking the increase from 1898 to 1900
on the same territory. The study
shows that up to One Hundred and
Tenth street the increase in land
about As per cent. This equaled the
normal rise previously determined.
The subway apparently made no diff
ference in this land, because excellent
elevated connections already existed.
From One Hundred and Thirty-fifth
street northward the problem appears
stripped of complications. 1.-THE ag-
gregated rise in this land from One
Hundred and Thirty-fifth street to
Spuyten Duyvil was about 500, 100000.
The estimated normal rise of $50, 100,-
900 was therefore exceeded by $49,-
100000, apparently due to the build
ing of the subway" This increase is
104 per cent increase on the value of
1900. A similar rise in the land
values of the Bronx was shown. Be-
tween the Harlem river and Bronx
park, the increase in land values due
f0 IN h,,i1 ~
100000.
The report goes on to state that,
while the increase in land values
above One Hundred and Thirty-f fifth
street, due to the building Of the sub
way was s39.200,000, the cost Of
building the subway from this point
10 Two Hundred and Thirtieth street
was $4,000 or but IS per cent of
the actual rise caused by the new
Inc. Similarly the increase in the
Bronx land values Of more than $780,
100000 was caused by subway con-
struction costing $5,700,00o.
Then New York attempts to buy
back these lands for public purposes
with what result?
New York, with an annual expendi-
ture of over $200,00O,000 is unable
to provide some Of the commonest
decencies of life for her citizens. The
schools are over-crowded, the libraries
suffer, public improvements are held
up-and all because tho people OF
New York have allowed their chief
source Of wealth-their land-to gel
into the lands of a very few people
who get rich by holding on to it.
We are told to cast our bread upon
the waters, but there is no command
that compels us to fling our economic
resources to the winds Of plutocratic
profiteerinx. '.' =,