Rapid Transit and Land Values
Unsigned Editorial
[Reprinted from The Standard, 21 May, 1890]
The Real estate exchange has grown excited over the failure of the
legislature to agree on any rapid transit bill, and it has petitioned
the governor for an extra session to consider this highly important
subject. The governor ha refused this application, and there does not
seem to be any good reason why hi should have granted it. If the
legislature could not agree at the last session there is no certainty
at all that it would agree at an extra session. Rapid transit is
greatly needed by the people of New York, in order that those who are
compelled to live at a great distance from their places of work or
business shall be able to pass rapidly to and from their homes without
spending a large portion of their life on slow moving trains or street
cars. It would be easy enough to understand why a popular
demonstration in behalf of rapid transit might be made, but wherein
does it concern the real estate men any more than the butchers, the
bakers or candlestick makers?
The answer is obvious, but thousands will make it without any
comprehension of its real significance. The real estate men want rapid
transit in order that they may be able to sell city lots at higher
prices. This demonstrates to any one who will stop to think that the
effect of a great public improvement is not to confer a benefit on the
mass of the people, but on that small number of people who, under an
unwise system of taxation and land tenure, are allowed to appropriate
to themselves the full benefit of ail activity, public or private,
that has in view the diffusion of population over a broader surface,
or through any other means facilitating the acquisition of homes by
human beings.
If the city of New York were to build live viaducts from the Battery
to Yonkers, running on each both rapid transit and local trains, and
carry passengers free, rents would not thereby be materially lowered
in the long run. Temporarily such a result might be reached, but
eventually the full advantages conferred on our people by such an act
of munificence would be taken by the holders of the land in the new
districts thus made easy of access to New Yorkers. This has already
happened in Harlem, and it will happen just as surely whether the
unproved means of transit are owned by the public and run for nothing
or whether they are owned by existing corporations and run at a
profit. The corporation monopolizing the transportation will, in the
latter event, get profits on its investment, and something more if it
has a monopoly, but the landlord will get all that remains. On the
other hand, if the people were carried for nothing, the landlord would
get the whole benefit. There is but one remedy for this, and that is
to make the people the practical owners of the land through the safe,
convenient and conservative method of establishing the single tax.
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