RECLAMATION OF MARSH LANDS. 603 
= the only protection to the agricultural interests of several of the States of the 
nion. 
In Canada the question of reclaiming the marsh lands is receiving considerable 
attention from both the government and the people. Extensive works are about to be 
commenced, with a view to these reclamations; and vast areas of fertile soil will be 
added to the lands of the New Dominion. 
In this country the question of utilizing marshes has not yet attained the import- 
ance it deserves. 
In the neighborhood of New York a considerable tract of land, known as the Newark 
Meadows, lying between the Newark and Paterson range of hills, on the west side, 
and the Palisade ridge of Bergen Hill on the east side, has been embanked and other- 
wise drained and reclaimed within the past two years. 
WILL RECLAMATION PAY? 
A question for consideration is, will reclamation of marsh lands pay those who 
invest their capital in such undertakings? When we invest our money in that which 
is perishable, stealable, or depreciable in value to such an extent as to become posi- 
tively worthless, we have an uncertain security for the principal invested, and profit 
is doubtful. We can invest in that which is itself a standard of value, such as the 
gold coinage of the country. In this case the security is good in the thing itself, but 
the profits are uncertain. Or, investment can be made in that which has an intrinsic 
value of its own, non-depreciable, independent of any standard value but its own 
worth, and above all indestructible and immovable, and advancing in value with time, 
such as good Jand. For this investment the security is certain, visible, and tangible, 
and the profits are equally certain, and limited orly by the inactivity of the investor 
*in developing them. 
As it is the interest of every State to develop its resources, and as the principal 
source of wealth to a country must be the productions of its soil, it is of the highest 
importance that these should receive attention. Capitalists will unhesitatingly engage 
in speculations for the working of distant gold mines, where the chances of profitable 
return depend almost entirely on the lucky striking of a rich vein of the precious 
metal, of which we hear of more disappointments than successes. With a plethora of 
money in our markets, men are continually seeking for safe and profitable modes of 
employing their idle capital and in lieu of the desired investment they are often con- 
tent to accept the comparatively small percentage allowed by the banks, while almost 
at their doors may be found the means by which their capital can be safely and profit- 
ably employed in the reclamation of these much-needed marsh lands. 
Tn the case of the Hackensack meadows near Newark, New Jersey, reclaimed by the 
Iron Dike and Land Reclamation Company of New York, the whole area selected for 
reclamation was about 4,500 acres, which were purchased by the company at an average 
price of $50 per acre. The cost of inclosing this area with an embankment, and the 
cutting of a series of main ditches and drains throughout the whole area, did not 
exceed $250,000, which would be equal to about $55 per acre, making the cost of pur- 
chase and reclamation about $105 per acre. Previous to the commencement of the 
works, the marsh was completely overflowed at every tide, and the entire embanking 
- and ditching were done by manual labor, while the insertion in the whole length of 
river embankment of Driggs’s patent iron dike plate added considerably to the cost of 
the works. They have 4,500 acres of wet marsh purchased and reclaimed for $105 per 
acre. When this land has been thoroughly drained it will be worth $1,000 per acre. 
If it takes three years’ cultivation to bring it to this condition, the tract at the end of 
that time will be worth, say, $4,500,000. Meantime the land will rent for $50 per acre . 
per annum, which sum is, at the end of three years, equivalent to $675,000 or $200,000 
in excess of the original cost. 
We deve une! valde, that. Wb. bel). sees cee le ck wi LU Jn Rap ed $4,500,000 
Add amount of rent for three years at $50 per acre ..---. 2. a0. ene ne een ene 675,000 
5,175,000 
Cost 6f land und reclamation, - .c2255.2.05..4.-5 seeds foesds olds $475,000 
Interest three years, at 7 per cent. 22 22. 105-21. se ewe Cee sce 99,750 
Cost of maintaining banks, &c., three years -.....--.-.-------+.-- 27,000 
ee 601,750 
Profit to otiginal investors in three years ...2-. ...22. 2s eee ae see eee 4,573,250 
The location of the land near the city of New York has, of course, much influence on 
its value, and itis not intended to convey the idea that all reclaimed land will be 
equally valuable, or capable of returning so enormous profits as the Hackensack mead- 
ows promise. , 
