Northern Wisconsin Agricultural and Mechanical Association / Transactions of the Northern Wisconsin Agricultural and Mechanical Association, including a full report of the industrial convention held at Neenah, Wisconsin, February, 1886. Together with proceedings of the Association for 1884, to January 1, '86
Vol. XI (1886)
Bright, C. M.
Taxation, pp. 273-306 PDF (6.8 MB)
294 TRANSACTIONS OF THE NORTHERN WISCONSIN I would just call your attention to a little matter that just came to me as a matter of family interest. I had a relative, a large iron manufacturer of New Jersey. He was a millionnaire at one time, a large hearty whole souled man, an honorable righteous man. The change in the tariff reduced it below what he could possible manufact- ure for, although he made every possibly effort. He put forth giant energies to uphold his business. Little by little, surely but slowly he had to sink under the current of in- debtedness, and he went under as every iron manufaturer in New Jersey at that time did, without a solitary exception. When the whole iron industry of New Jersey and the adjoin- ing states was prostrated, what was done? Right on the market was placed English iron at double the figures it was before. They would now recoup. They would get even now for months and years, until they had ruined American manufactures. They put their iron on the wharfs of New York at lower figures than America could produce it. When the American manufacturer was out of the market then up went English iron. The consumer of this country had to pay the difference. These are historical facts. In regard to this distribution of land. Here are some city lots. They are exactly of the same width, they are exactly of the same depth, they are exactly of the same area. The one is a back lot, the other, a fine corner lot and fronting a corner. Now why should I take that lot on the corner? Why not be sat- isfied with the lot on the alley? Just so much of God's sun- shine is upon the one as upon the other. One is as rich as the other. It is merely a matter of taste. You will say there is nothing intrinsic in the value of the lot. Well there are others that have their tastes, peculiarities and fancies and whims. The result is that there are two orthree more want the same. Now what could be done? Both cannot have it. Only one can obtain it, and there must be some means devised whereby one or the other will be the possessor and holder of the lot. And the result is it would go into some sort of competition. In land there is a preference. Just put it up at auction. Now comes in the difference. I have not as deep a pocket as my friend, when this bidding comes up.
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