attractive to renters, offers also the unusual combination of economic advantages. We are just at the beginning of the new economic revolution in America, the dawning area of manufacturing decentralization that is beginning to gain momentum with the recovery of balance in production and consumption upset by the World War and the unmistakable sign of the upward swing of a great cycle of prosperity. From these two sources of immigration the boulevard, and home sites of the boulevard extension would be taken up.To " capitalize" means to develop for future production. The time is now ripe in American economic life for Charleston to capitalize the mud flats of the Ashley. The returns from the future use of the present mud flats of no producing value when made valuable by use as high- grade home sites will be indeed a rich capitalization of the city's latent resources.When put to use and made valuable this area will return richly to the city. This return, less the comparatively small additional cost of lighting, cleaning and policing will reduce the taxes per capita of all Charleston taxpayers. More taxpayers to carry the same city government overhead will require less from each individual.Would Move StockholdersThe desire for more smokestacks and therefore more progress is founded on the desire to spread the tax burden. This is sound and much effort is being expended to accomplish just this. But if we cannot always move the plant itself from somewhere else to Charleston it is almost as good to move here the stockholders and higher officials whose income is derived from those distant works, to become owners of winter homes in Charleston. They will create a demand for boulevard lots, increasing their value, and pay taxes on these increased values just as effectively with the plant in Kokomo as in Charleston. Try to bring the plants, as many as possible, but also the stockholders of plants that can't move. By a process of growth from outside we can capitalize on the mud flats to produce civic values and spread the tax burden over more shoulders.If the cost of capitalizing upon the Ashley and flats were paid for entirely by the city now, in a generation it would be a source of great income to the community. But there are business possibilities in the project attractive to private enterprise. A judicious cooperation of both city and private initiative should accomplish this great and spectacular development with prompt returns. The city, nor any city, has neither the marketing machinery nor the prospects for a very large real estate development. It is not a function of city government to engage directly in a real estate promotion project on a retail basis, but with municipal leadership and assistance a company to do this efficiently and successfully may be secured or created.Boulevard ExtensionThe area of the Ashley river water front capable of improvement within the city limits, although when completed will constitute one grand sweep of water front drive five miles long, the area for discussion falls into three parts: ( 1) Tradd street to Ashley river bridge, 6,200 feet; ( 2)
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