Five Mile Beach weekly journal., 1918-01-11

present conflict has revealed past folly.
Lack of facilities-of transportation, of
shipbuilding and the like-constitutes
n of the chief obstacles that the
government must overcome in the war.
New Jersey, with her numerous wa
terfronts, such as the Raritan, Hack
ensack, Passaic and Delaware rivers
and Newark, New York end Delaware
bays, is ready to provide them with
federal encouragement. For miles and
miles north of the Passaic and Raritan
rivers the greatest industrial center
in the East, ~honeycombed with rail-
roads and rivers emptying into the
harbor, nearly surrounded by valuable
waterfront still largely undeveloped
and situated OF the seaboard at the
greatest gateway for the worlds COM
merce, New Jersey is the logical ar
chitect of those facilities which form
the keystone of the nations mighty
arch of progress and success. Facili-
ties, facilities and more facilities,
should be the aim of government with
a broad vision.
I know of the opinion which Il
sells that public improvement be defer
red until the wal is ended. Frankly,
I don't agree with it. The more facili-
ties and producing power at home the
stronger we shall be in the trench.
France is pushing her great railroad
the very din of battle. A nation is
like a business in hat if it does not
go forward it goes backward. There
is no standing still. Expense in this
connection is mostly a ghost of popu-
lar prejudice, for when you capitalize
assets, whether of a state or of an in
dividual, you don't waste money, you
make money. Neglect to do so is SIM
ply lost opportunity, which in great
part can never be regained.
Ownership of Commercial Waterfront.
To illustrate, when North Jerseys
commercial and industrial facilities are
increased, q market is created for the
agricultural products of Central and
South Jersey. Consequently the lat
ter sections are we'll able to bear their
share of the first cost in securing
those facilities. Again, l take it that
one of the ultimate results-Of course,
not this year or the next-of port de-
velopment work, will be the aeduisi-
ton of the states valuable CONNER
Port of New York, now in the hands
of individuals. While it would re-
quire considerable money to finance
this, yet a plan to lease it back to
present ms or lessees and develop
1t uniformly along modern lines, meet
ing present and future demands for
waterfront facilities, would unques-
tionably result in such a vast increase
In taxable ratables that first cost
would very shortly dwindle in the rela-
tive proportion to statewide benefits
derived.
Millions in New Riparian Policy.
And while considering the financial
aspect, it is most interesting to reflect
on the effect of a progressive water
front or commercial policy in relation
to the states determination hereafter
to lease riparian lands instead of
granting them in fee or leasing with
conversionary rights. This radical, but
l may say businesslike, change in ri
parian and administration, was agreed
upon some months ago, anu | urge that
the legislature provide at this ses-
sion any further measures which may
be deemed necessary to give the leas-
ing plan force and effect. The future
- &I.1 oxv nnd sound mellow ic fron0hf
with business possibilities. Today
there are nearly 1000 miles of desir-
able water frontage for industrial and
other uses in this state not yet sold.
These lands are estimated to repre-
sent a present value of approximately
$50, 4 10000. l take it that 7 per cent.
of estimated value would be a fair
basis for fixing rental or, in other
words, If all riparian lands, instead of
being given away in fee at small sale
price for the most part fixed by the
standards of undeveloped property
were to be leased today, the states
annual rental from this source would
approximate 1851, 856. This contem-
plates q demand for all available RI
parian lands, which, of course, Is a
condition that the future must deter
mine. But think of the marvellous pos
sibilities lying back of the joint en-
terprises of riparian right conserva-
ton and waterfront development! Is
it too much to say that in fifty or a
hundred years, by reason of intensive
development, u waterfront will in
crease in value a thousand per cent,
approxinfating 1927, 100000 and bring
ing in annually a rental of $15,91S,56O?
Similar increases in value during a Pc
riod even shorter have not been infre-
uuent in seashore resorts and certain
Industrial sections. There is nothing
visionary about this prospect of rental
from a single state source exceeding
the present gross receipts of state
funds from every source, a sum now
of approximately $12,917,65S. It is a
..-Io h,,efpoce pronNcitiOn RiD0rt1O