The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-01-13

while the value Of real ana personal estate has |
scarcely increased thirty per cent, and the po- |
pulation has not quite doubled. Every year
the burtheA has stesdily increased, and it will be
found that this year it is beyond all precedent If
it proceed in the same ratio, very soon it will
amount to FIVE millions Of dollars in the year.
The increase m the State is worthy Of remark,
though it bears no proportion to the increase in
the city. The following table will show the va
suation, tire tax, and the rate. for the whole
State, at three periods during the last fifteen
years -
Pear Valuation. Tue Rate.
1851. ...... 1,O77, Sai, $50 s7S9,4ss 9 30
From the foregoing. it appears that in the last
ten years the taxation has more than doubled
in the State. Profigate expenditure and cor
ruption have produced this result; hut in the
city the evil is still more formidable The tax
In New York is more than half the amount Of
the tax Of the State, while it far exceeds the ex
penditure of any State in New England.
The alternate increase and decrease Of the
value of real estate, as exhibited in the valua-
tions for the last few years reveal an extraordi-
nary condition Of things. To-day, the bubble
swells. and shines with all the colors Of the
acknowledgements it bursts and vanishes into
thin air In a single year in the State Of New
York real estate increased upwards Of one hun
dred and thirty-six millions Of dollars, while
personal only increased two and a half millions,
as will be seen by the following
Real Estate. Personal
s35.....-......,......s 4o3,5175s5 sl25, oSs 20
1850 Observation-Disclosures. ooS,too,o'4 ll'oo64 oo
Increase. ............... slse 2a9 2s9 $3.50 4se
In the city, the increase is far greater in
property, as may be seen by the following
table,
1sS4...--.... 1922, 476,507 S63, 800 23l
1850. ....... I43 1324Z3 I4Nl ZIo
1850. ..>....... ......... Ioo f4S,ooo o,ioo,oIi
1t will be thus seen that, in two years, the
value of real estate nearly doubled, while per-
sonal estate increased only small per centage.
1t is singular fact, that in one year in the city
and county of New York, the increase in real
estate-was ninety millions of dollars, while in
the six following years it decreased fifty-seven
millions of dollars. There can be no better
proof OF the unnatural and artificial imitation of
1886, than the fact that the value Of real estate
was greater then than it was fifteen years after
wards notwithstanding the extraordinary ex-
tension of the city d1xing that period. In 1851
the real estate was valued at $207 ,142576,
which is twenty-six millions less than in 1886.
Unfortunately there is the same increase in the
value of real estate within the last two or three
years that produced such disastrous results in
the years 1887 and 1885, Let us compare le48
with last year.
Fear. Real Estate Personal.
1S4S S193 02S orc sol l6i, 451
1852. Observation-Disclosures, 253, 27s 1854 9s,490;3i2
From this it appears that in the space Of four
years. real estate has increased $50, 250, 278 and
personal $37, 1926. 59l-making in all, nearly one
hundred millions Of property. California gold
has no doubt contributed in some measure, to
this result but the increase is too great to be
accounted for by that alone, and it is to be
feared that when sail is taken in, revulsion will
ensue like that which startled the community in
1887 and 1888. Speculation has overleaped it.
self and it is notorious that vast amount of
real estate is for sale at this moment, both in
Brooklyn and New York, and IL will DO found
that many have begun to build who are not
able to finish. Real estate cannot remain long
at its present value, and depreciation will soon
take place. just as sure as the ebb succeeds the
flowing tide Meantime, taxation has reached
point that ought to strike terror into the heart
of the community.