| Show THE GREAT spoliation wincing undo the great decline ot of or oregon e got anil and portland portion property the theore ore gonian begins nn an article in these words T much property property irk in ond and around this ihl city as ut at it r places till tall recent years wim lids greatly overvalued over valued it anna v iia hold held for or grovitt and ll 11 alsa such viala valuations actions worn speculative the ami properly would U produce U little or nothing yet yei 1 0 were net act upon it there had to be an 1 effi eff cn c n I 1 to t 0 this fallacy it ii crime camo live five years property ili 1 actually w orth just what t it will a ill yield no lie more told and it was a great mistake from which no all our u bared to it worth moni man that Is exceedingly juose reasoning for so eo close and careful SL a lor louician ician as the editor of 0 the Ore oregonians oregonian gonian 11 much uch property properly lit in nil fill cities la Is most valuable that pays very little that has never paid arty here near hat it la Is worth orth itras it baa from nothing become valuable volu ablo through mr henry george termed unearned increment property N M ill HI not pay I 1 per cent on its value which tt it improved would pay 7 per cent on the tent real value ot of the lot and Us its improvements again it Is legitimate under normal conditions to hold property for growth and rise rime because under those conditions a 9 city la in naturally expected to increase Inc renae in both population and business and hen this la Is realized reoH zed the natural tendency of it property is lit upward this brings us back to tile the rule which tho the Ore oregonians oregonian Oreg gonian onlan lays down dovin that ly Is actually worth what gt it will yield and prompts the question what makes tiny property lall anything of 0 course couro it la Is buHl neff the amount of trade tr ide the rapacity capacity of inen it to make improvements to stait I 1 industries to pay fur for necessities and luxuries so we me aeo that when mn men gh elo c up the original not barter chere one noces fly of lite la Is exchanged for another ano lher then at onre money controls and business advances ad or recedes rec dea ne cording to the amount of money filled arod in business portland depends in gieni measure upon tho ilia handling of products ahn boat it stool ool fish lumber fruit etc now it Is it a clear case that it if the men who be bring to that market their products receive for them only half nn an much as aa they aliey did fifteen years ago affo they cannot buy halt nj as much of 0 portland merchants as a they formerly did for the cost of production has h ia to be a amt deducted front from the half that they recell 0 the result ili j many maity merchants mv hayo failed many others are still blut do r I 1 ing ine business in Bli antles who ito fifteen yvant no ligo tho thought tight that long before this they would bo be able to distribute or or r among the men who he produce tho the material and build houses the result la 13 that many of the builders 1 and furia lothers have been forced to kb go away civay if again the farmers who bring in supplies find that inasmuch as their farms do not any longer yield what they formerly did they have shrunken 50 per cent in value and it they owed any largo larco percentage taffe of oc tho the value of their property ten years ago they have lost loat it it till all comes from one cause that substance tile tho volume of milich I 1 fixes I 1 es prices namely tho the primary monty money of tho the country has been r ra e deuced one half and the property of portland and of oregon has eh correspondingly there Is no escape from this it 11 Is simply pimply tho th oper operation teleni tt leni 0 of f a an inviolable law tho the same name result c can iff be wen more all the way from the atlantic to the pacific and that hiat the american people wilt will continue to benr beat tho the spoliation which follows that ion which aich mas ai framed exclusively in ili the interest of n non pl ing shoddy moneyed aristocracy 1 ii 14 4 the lh marvel of this asre age is 1 a direct indictment ot of the of oc the american people |
