The Online Library of Liberty

A project of Liberty Fund, Inc.

• Foreword
• Part One: the Doctrine of Equal Rights
• True Functions of Government
• The Reserved Rights of the People
• Objects of the Evening Post
• Reply to the Charge of Lunacy
• The Legislation of Congress
• Religious Intolerance
• Direct Taxation
• The Course of the Evening Post
• Chief Justice Marshall
• Prefatory Remarks
• The Sister Doctrines
• The True Theory of Taxation
• Strict Construction
• Legislative Indemnity For Losses From Mobs
• The Despotism of the Majority
• Morals of Legislation
• The Morals of Politics
• Part Two: Separation of Bank and State
• Bank of United States
• Small Note Circulation
• The Monopoly Banking System
• Uncurrent Bank Notes
• Fancy Cities
• Causes of Financial Distress
• Why Is Flour So Dear?
• Thoughts On the Causes of the Present Discontents
• Strictures On the Late Message
• The Value of Money
• The Way to Cheapen Flour
• The Money Market and Nicholas Biddle
• The Pressure—the Cause of It—and the Remedy
• Connexion of State With Banking
• The Crisis
• The Bankrupt Banks
• What We Must Do, and What We Must Not
• “the Foresight of Individual Enterprise”
• The Safety Fund Bubble
• Separation of Bank and State
• The Remedy For Broken Banks
• “blest Paper Credit”
• Questions and Answers
• The True and Natural System
• The Bugbear of the Bank Democrats
• Bank and State
• Theory and Practice
• Separation of Bank and State
• “specie Basis”
• The Natural System
• The Credit System and the Aristocracy
• The Divorce of Politicks and Banking
• Part Three: Abolition Insolence
• Riot At the Chatham-street Chapel
• Governor Mcduffie’s Message
• The Abolitionists
• Reward For Arthur Tappan
• The Anti-slavery Society
• Abolitionists
• Slavery No Evil
• Progress of Fanaticism
• An Argument Against Abolition Refuted
• Commencement of the Administration of Martin Van Buren
• The Question of Slavery Narrowed to a Point
• “abolition Insolence”
• Part Four: the Division of Political Classes
• Despotism of Andrew Jackson
• The Division of Parties
• Rich and Poor
• The Street of the Palaces
• American Nobility
• The Inequality of Human Condition
• A Bad Beginning
• The Whig Embassy to Washington, and Its Result
• Right Views Among the Right Sort of People
• Newspaper Nominations
• Foreign “paupers”
• Part Five: the Principles of Free Trade
• Monopolies: I
• “a Little Free-trade Crazy”
• Asylum For Insane Paupers
• Monopolies: Ii
• Revolutionary Pensioners
• Joint-stock Partnership Law
• The Ferry Monopoly
• Free Trade Post Office
• Stock Gambling
• Weighmaster General
• State Prison Monopoly
• Corporation Property
• Regulation of Coal
• Free Ferries and an Agrarian Law
• Thanksgiving Day
• Municipal Docks
• Associated Effort
• The Coal Question
• The Corporation Question
• Free Trade Weights and Measures
• Associated Effort
• Sale of Publick Lands
• Manacles Instead of Gyves
• The Meaning of Free Trade
• Gambling Laws
• Free Trade Post Office
• Free Trade, Taxes, and Subsidies
• Meek and Gentle With These Butchers
• The Cause of High Prices, and the Rights of Combination
• Omnipotence of the Legislature
• Part Six: Literary Property
• Rights of Authors
• The Rights of Authors
• Right of Property In the Fruits of Intellectual Labour

CORPORATION PROPERTY

Evening Post,

June 3, 1835.

Title added by Sedgwick.

The property belonging to the corporation of this city is estimated, in the Message of the Mayor which we had the pleasure of presenting to our readers a few days since, at ten millions of dollars. Of the property which is valued at this sum, a very small portion is actually required for the purposes of government. A large part of it consists of town lots, wholly unproductive. Another part consists of lots and tenements leased or rented for a trifling consideration. That part which is in the actual occupancy of the corporate authorities for public uses, is comparatively small, and smaller still that part which is actually needed in the exercise of the legitimate functions of the government.

That our municipal government should possess no property, except what is really required for the performance of its duties, seems to us so plain a proposition as scarcely to require an argument to support it. We elect our city authorities from year to year to supervise the affairs of the body politic, pass needful municipal regulations, enforce existing laws, and attend, generally, to the preservation of public order. Adequately to fulfil these trusts, a building set apart for the meetings of the city authorities is necessary. A place of detention for the city criminals is necessary, and, under the present system, a place for the city paupers. These, and a few other buildings, occupying grounds of a suitable location and extent, constitute all the real estate required for the due administration of the functions of our municipal government. If our authorities, then, purchase more property than this, they either waste the money of their constituents, or buying it on credit, or paying for it with borrowed funds, they waste the money of posterity.

The government of our city is nothing more nor less than a certain number of persons chosen from year to year, by the suffrages of a majority of the citizens, to attend to those affairs which belong to all in common, or, in other words, the affairs of the community. They represent the aggregate will of the existing community in relation to those affairs; and their functions, by the very tenure of their offices, are confined within the circle of the year. It is plain, then, viewing the subject on principles of abstract right, that a government so constituted, ought do nothing which would not be approved by those from whom it derives its powers. The accumulation of unnecessary property, to the amount of millions of dollars, can never have been intended by any considerable number of voters of this city, as a duty which the city government ought to perform; and having accumulated it, to retain it seems equally averse to the plainest principles of sound policy and right.

To whom does this property belong? Not to the authorities of the city, surely, but to the citizens themselves—to those who chose those authorities to manage their affairs. If it belongs to them, and government is not a permanent existence separate from the will of the people, but the mere breath of their nostrils, their mere representative, renewed at their pleasure from year to year, it must be obvious that there can be no good reason for having that property retained in the possession of the government. It would be much better in the possession of the people themselves, since every body knows that as a general and almost invariable rule, men attend to their private affairs much better than agents attend to their delegated trusts.

Let no reader be startled at the idea we have here put forth, and suppose he sees in it the ghost of agrarianism,—that bugbear which has been conjured with for ages to frighten grown-up children from asserting the dictates of common sense in relation to the affairs of government. We have no agrarian scheme in contemplation. We are not about to propose a division of public property, either according to the ratio of taxation, or equally by the poll list, or in any other objectionable mode. But our citizens are every year called upon to pay taxes. The last legislature passed a law authorizing our corporate authorities to levy a tax greatly increased since last year. We have also our public debt, for which the property of our posterity is pledged, and this debt was lately swelled one million of dollars by money borrowed to be paid in 1860. Now it strikes us as somewhat unreasonable to call upon the citizens to pay taxes to defray the current expenses of the government, and to saddle posterity with an enormous debt, when the unnecessary and disposable public property now in the hands of our municipal government would wipe off the whole amount of the debt which was contracted on the credit of posterity, and defray the current expenses of the city besides for several years to come.

We would by no means dispose of our City Hall, or our Park, or our Battery, any more than we would dispose of Broadway or the Bowery. These are for the public use, for their present, daily, and hourly use, in various respects. But in the public property which the Mayor estimates at an aggregate of ten millions of dollars there will be found much which is not necessary for the purposes of Government or the health and convenience of the people. All such we would sell, and apply the proceeds to the liquidation of the public debt, and to the payment of those expenses for which taxes are now assessed. Let not the argument be used that this property will be far more valuable in a few years, and may then be disposed of to much greater advantage. If we admit the validity of this argument, it is one which may be urged to postpone the sale for half a century, and of what benefit would be the augmented amount, fifty years hence, to the present people, to whom the property in truth belongs? Society is daily, hourly, momently, changing its constituent individuals. The particles which compose the stream of life are continually passing away, to be succeeded by other particles, and the transition of these human atoms is nowhere so rapid as in the whirlpool of a great city. Many of those whose votes elevated the present municipal officers to their places, will never cast a suffrage again—some have gone to other states, some to distant lands, some to that bourne from whence no traveller returns. But others will push into their places. The social tide will still rush on. The young man will pass his probationary period and acquire the rights of citizenship; foreigners will be adopted; brethren from other portions of the confederacy will take up their abode among us. No matter, therefore, how rapidly increasing in value any portion of this superfluous public property may be, we who own it now and who next year may own it no longer, have a right to demand that it should be disposed of for our benefit, and to liquidate those debts which we have no right to leave for posterity to pay.

But we deny that there is any validity in this argument founded on the conjectural or probable rise of price. If the property improves in price, we ask whether is it better that the increase should be in the hands of the government or of individual citizens? Should the government continue to hold this property for years, through its annual successions, it is at last to be appropriated to some public purpose. If the property had been disposed of, its increased value would necessarily have been in the hands of citizens, whose capacity would in the same measure have been increased to contribute to the public expenses. The property of the citizens is at all times abundantly able to sustain any legitimate expenses of government, and all property, not required for such purposes, should remain in the people’s own hands.

There is one species of public property to which we have not adverted in this article, because it does not probably enter into the Mayor’s estimate, but which we could well wish were also disposed of by the public authorities, and suffered to go into the hands of private citizens. We allude to the wharves, piers and public docks, with the exception of the slips at the end of streets. Those in our view ought to be as free as the streets themselves, and the rest ought to be left in private hands. We cannot undertake to argue this subject to-day; but let those who are disposed to differ from us, reflect that we only propose to put the wharves on the same footing with houses and stores, and that the same competition, the same laws of supply and demand, which regulate the rent of the one description of property, would equally regulate the wharfage of the other.