This single-paragraph blurb comes from the October 13, 1906, issue of The Public, a weekly newspaper published by Louis F. Post. The dollar figures may be out of date, but the observation is quite current:
James J. Hill has bargained to sell a
large collection of ore deposits for $400,000,000 — the equivalent of the
labor of 80 million men for a day, of a quarter of a million for a
year, of 10 regiments for 20 years, and of one man for seven times the
historical period of the world, at the liberal average wages of $5 a
day. When did God give to James J. Hill those ore deposits and
consequently the control over all that labor of mankind?
Post script, from the same issue:
OUR NATIVE LAND.
Chicago Daily News, (Ind.).-Oct. 6.— An extraordinary transaction was completed in New York yesterday when James J. Hill sold to the United States Steel corporation many millions of tons of iron ore for many millions of dollars. It was Hill's ore because he had come into control of the land containing it. Now the ore passes to the great steel company at a price that is satisfactory to Hill. In the next hundred years or so the ore will be transformed into iron and steel and will be purchased by consumers all over the world at prices fixed by its manufacturers. Since the one huge corporation has now obtained control of practically all the great ore beds within its field of operations it is in fair condition to fix extortionate prices for its products. Such mineral lands as still are a part of the public domain should be retained by the government as affording the public some protection against private monopoly.
Chicago Daily News, (Ind.).-Oct. 6.— An extraordinary transaction was completed in New York yesterday when James J. Hill sold to the United States Steel corporation many millions of tons of iron ore for many millions of dollars. It was Hill's ore because he had come into control of the land containing it. Now the ore passes to the great steel company at a price that is satisfactory to Hill. In the next hundred years or so the ore will be transformed into iron and steel and will be purchased by consumers all over the world at prices fixed by its manufacturers. Since the one huge corporation has now obtained control of practically all the great ore beds within its field of operations it is in fair condition to fix extortionate prices for its products. Such mineral lands as still are a part of the public domain should be retained by the government as affording the public some protection against private monopoly.
and from a later (11/10/06) issue:
WHERE'D JIM HILL GET IT?
From the St. Louis Mirror of October 25, 1906.
What is believed to be the largest transaction in the history of this country was the sale of approximately 760,000,000 tons of iron ore on October 6 to the United States Steel Corporation by President Hill of the Great Northern Railroad Company. It was said that the deal was accomplished by five men in two hours' time at the New York office of the Steel Trust. This is interesting. Who gave Jim Hill his title to that iron ore? What right had he to that wealth of the earth?
Does it actually belong to anyone—this wealth— until some one by labor has dug it out for the use of mankind? Does it not actually belong to all the people? Should not all the people have the benefit of that natural wealth in the land? Should not the value of it be taxed into the public treasury as the value of a natural resource, leaving to whomsoever might develop the field all the profit that might hereafter accrue from the working? Who made this wealth? Not Jim Hill. Did he buy it? No: he bought only the right to keep it out of the possession of others until such time as increased demand for such wealth might enhance the value of the product. And now he turns it over to the United States Steel Corporation in order that that corporation may keep the field out of occupancy and productivity lest its output under the working of others should prevent that corporation from keeping up the profits on the restricted output of the other iron fields under their control.
If this vast field were taxed to its full value, not only as mere land but as land covering and containing iron ore, think you that it could be held out of use at any profit? Not at all. Either the field would be worked by others or the occupants of other fields would reduce their prices on the product of those other fields. If a tax on the value of the iron lands were levied heavy enough to make it necessary either to work the fields or quit holding them, wouldn't there be 750,000,000 tons of free iron ore threatening the profits of the existing and now worked fields? There would. Would not that materially weaken the Steel Trust? You bet it would. That ore value belongs to the people so far as it is ore land. All values coming to those who might bring it into the service of the public would rightly belong to such servitors of the public. But as it is, the value goes to enhance the value of other iron fields, simply by keeping this field out of use. This iron is used by non-use to put up the price of other iron and steel. The public's property is used as an engine to plunder the public by means of high prices.
This tremendous transaction is a beautiful example of the evil that is wrought by our failure to get, by taxation of land values, the benefit for the public of the values of the public's own possessions. The forestallers of the land and the engrossers thereby of the land products are the vampires draining the body politic of its public wealth. Why not drive these vampires away by a trial of the Single Tax?
From the St. Louis Mirror of October 25, 1906.
What is believed to be the largest transaction in the history of this country was the sale of approximately 760,000,000 tons of iron ore on October 6 to the United States Steel Corporation by President Hill of the Great Northern Railroad Company. It was said that the deal was accomplished by five men in two hours' time at the New York office of the Steel Trust. This is interesting. Who gave Jim Hill his title to that iron ore? What right had he to that wealth of the earth?
Does it actually belong to anyone—this wealth— until some one by labor has dug it out for the use of mankind? Does it not actually belong to all the people? Should not all the people have the benefit of that natural wealth in the land? Should not the value of it be taxed into the public treasury as the value of a natural resource, leaving to whomsoever might develop the field all the profit that might hereafter accrue from the working? Who made this wealth? Not Jim Hill. Did he buy it? No: he bought only the right to keep it out of the possession of others until such time as increased demand for such wealth might enhance the value of the product. And now he turns it over to the United States Steel Corporation in order that that corporation may keep the field out of occupancy and productivity lest its output under the working of others should prevent that corporation from keeping up the profits on the restricted output of the other iron fields under their control.
If this vast field were taxed to its full value, not only as mere land but as land covering and containing iron ore, think you that it could be held out of use at any profit? Not at all. Either the field would be worked by others or the occupants of other fields would reduce their prices on the product of those other fields. If a tax on the value of the iron lands were levied heavy enough to make it necessary either to work the fields or quit holding them, wouldn't there be 750,000,000 tons of free iron ore threatening the profits of the existing and now worked fields? There would. Would not that materially weaken the Steel Trust? You bet it would. That ore value belongs to the people so far as it is ore land. All values coming to those who might bring it into the service of the public would rightly belong to such servitors of the public. But as it is, the value goes to enhance the value of other iron fields, simply by keeping this field out of use. This iron is used by non-use to put up the price of other iron and steel. The public's property is used as an engine to plunder the public by means of high prices.
This tremendous transaction is a beautiful example of the evil that is wrought by our failure to get, by taxation of land values, the benefit for the public of the values of the public's own possessions. The forestallers of the land and the engrossers thereby of the land products are the vampires draining the body politic of its public wealth. Why not drive these vampires away by a trial of the Single Tax?
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