The Wilmington morning star., 1943-08-21
|BABS0N DISCUSSES
| LAND VALUES
= BY ROGER BABSON

bAb2OlN MN, AsAoSS'
continually come to me asking my
idea as to what changes IN the
social and economic structure are
ahead. These letters have increas-
ed since Vice President Wallace
made his recent Detroit address.
AS this is nice cool day, I am
making a guess as to what devel-
opnnents may take place or at
least the route that such develop
ments may follow. These com.
ments, however, are merely fore
casts and I am not arguing for
them.
Instead of Socialism, Fascism,
Communism or even Capitalism
succeeding, I expect that all Of
these-as now set up-will change.
The. "Single Tax" theory of Henry
George or the Eliminate Power
ty" theory of Mrs. John Martin
of Winter Park, Florida, m S
nearer the desired goal. In select
ing this goal, I make two as
sunptions as follows:
/. That soil, babies, education
and religion are the four founda-
ton stones of any permanent eco
nomic and social system.
2. That the coming economic sys-
tenn will be halfway between Cap
italism and Communism. The free
enterprise feature of Capitalism
must be conserved while a mo-
nopoly of the soil must be avoided.
Home owners, who use the land,
must be protected.
These four fundamentals - soil,
babies, education and religion
must be met one at a time in
order that we do not bite off
more than we can chew. My
forecast, therefore, is that the first
problem to be tackled will be the
soil problem. By soil I include
farms, home gardens, natural re-
sources and improvements, all of
which 60 to make up real estate.
Due to high taxes farmers now
have not the money to build up
their soil and prevent its loss by
erosion. AS result the nation is
losing every day the soil equiva-
lent of 200 forty-acre farms.
Real estate values and real es-
tate owners-as well as the public
should be protected by fair and
>s,,.J +,x> ,eeaccpoo opf This can
be accomplished only by legisla-
ton whereby the taxable body
town, city, county or state-must,
upon request of the owner, take
over said property at said assess
ed value any time on proper nc
tice. This is the only way to pre-
vent unfair assessments, although
said assessments can be readjust'
ed each year. Why more ambi'
tious politicians have not tackled
the problem of present ruinous as
sessments is beyond my under
standing.
Fair assessments by themselves,
however, may not be enough tc
equalize opportunities and protect
those who are diligently S n {
property to raise families or crops.
/, therefore, forecast that the time
may come when real estate can
be purchased or sold only at the
assessed values. This would pre-
vent both unfair foreclosures by
banks and greedy lenders, and il
would enable young people to buy
farms and other property at fail
prices. Banks may at first object
to this, but in the end it woulc
protect their mortgages and en-
able buyers of propery to more
easily secure mortgage money.
We hear much discussion regard.
ing what is going to be put "be
hind the dollar" after the war
Some economists e urging 9
commodity dollar, the value te
, move up and down according te
the cost of living; others recon-
mend a production dollar basec
more upon the nations improve
ments; while others present still
different plans. I hope that the
world will return to a reasonable
gold standard-at least until we
straighten out present economic
problems.
Without advocating any special
money theory, my guess is thai
the ultimate dollar will be based
upon the soil. This does not NEAR
based upon the number of acres
which a nation has, but rather
that it correlate with the produc'
tivity of these acres. This in turn
will depend on the quality OF the
soil, naura1 resources, and upor
the number of children, including
their education and religion. This
'1and value dollar is probably
long way off; but my guess is
that all countries m S t finally
come to it.
The first step toward a '1ano
value dollar must be fair assess
ments and the willingness of the
government to redeem its dollars
in land values or issue dollars fol
land value. In other words, te
make the dollar good and assure
equal opportunities to young peo
pie, it may become necessary fol
everyone to be able to get lane
for their dollars or dollars for their
land at fair assessed value. This
may be so or more years hence
Certainly, I am not arguing fol
it at the present time; but to stat