Richmond daily times. [volume] (Richmond [Va.]) 1850-1853, 1852-06-08
LOCAL INTELLHGENCE.
Public Square an Monroe Yard.


pose OF legislatng for the city. May we not hope
that some action will be had upon the petition of
ireeholders Tor the purchase of "Jacksons Gar
DEM! The committee to whom the petition was
referred are probably ready to report and no
more appropriate for the decision of the
question, it seems to us, can possibly arrive, than
the present.
The members of the Council will recollect,
that IN the location of the Public Squares. hen
Wy population residing North of Broad street md
west OF filth street have been virtually excluded
from the benefits resulting from those SQUARES
lhey VIII recollect, moreover, that whilst other
portions OF the city have been literally improved,
little or nothing has been expended towards i'm
proving this portion; and that even now the bepe-
fits resulting from the introduction of both water
and light have been denied to a large section of
the district above named. The inhabitants resi-
ding in the North Western portion of the CITY
nave, therefore, we submit, just claim upon
the Council. lfthey are to be denied all partici-
patton in the Improvements of the day-if they
are to be denied for all time to come, water, light
and other comforts and improvements. which
nave beenso avishingly dispensed by the Coun-
ell IN other and more favored portions ofthe citys
1t may become the duty of holders of real estate
In that quarter to seek other and more profitable
investments. Already are the banefu effects of
this policy beginning to be felt in some portions
of the district alluded to. Whilst other portions
OF the city, not comparable with this in natural
advantages are rapidly improving, this remains
nearly stationary-few new buildings are now 60
ing up, and rents certainly not increasing.
The purchase of "Jackson's Garden" and its
conversion into Public Park, would add greatly
to the health and comfort of the Inhabitants re-
siding in the North Western portion of the city.
1t would likewise have tendency to advance the
price of real estate in its vicinity, and would
thus to some extent indemnify the city for the
purchase. Moreover, the grounds from their ad-
mirable location, could be converted into hand
some Park at inconsiderable expense and would
always command The amount paid for them by the
city.
There are other considerations which might be
adduced in favor of this purchase but we have
not time to allude to them to-day.
There is one view, however which we cannot
believe has escaped the observation of any men,
Der of the Council. 1t is this City Stock is now
selling at S102 l-2 interest added the creditof
the city is undoubted-and the amount of money
in the Northern markets seeking safe investment
is unprecedentedy large. The purchase of the
grounds, then, will require no Immediate outlay.
Six per cent. stock, redeemabe twenty or thirty
years hence-when the city will be deriving in
creased revenue from her gas and water works,
to say nothing of other stocks or increased sub
Jects OF taxation-will be readily taken in pay
ment.
Many persons suffer themselves to be appaIled
at the magnitude of the debt of the city. It is
heavy, we all admit-but the resources are am
pleto meet it, The debt may be stated in round
numbers at ST, 339 900; but to meet this the civ
has assets in public buildings, grounds, gas works.
water works and stocks in internal Improvements
companies amounting to at least 81 OOO, oO0.-
Thus, then, wo far from being in an unsafe
condition. True, the large amount of stock owned
by the city in internal improvement companies is
not available just now; but we look forward to the
day when it will become valuable
We earnestly hope the Council may be induced
to comply with the wishes of the people relative
to the conversion of Jackson's Garden into Pnb-
lic Park.