The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-12-30

CITY PROPERTY-VALUE OF THE PROPOSED
Posi- OFFICE SITE IN THE PARK-In another
column will be found communication showing
the exact money value of the site proposed TO
be allocated to the Post Office in the Park.
From this statement it appears that the area
required by the department will be 24957 feet,
or about ten lots Of $500 feet each; the ground
to be taken for the extension of Park place as
suming the latter to be 80 feet wide by 2l8 feet
in length, will be IL ,440 feet-a fraction short
of seven lots Of ground-making altogether
about seventeen lots on Broadway, Chatham
street and Park row. The value of each of
these lots taking that of the adjoining proper
ty as the basis, is at the lowest calculation
5000, making an aggregate of $1,700,00O
worth Of property which it is proposed to sell
to the general government for $250,000. We
have shown the inexpediency and folly of this
bargain on the broad grounds of the public
convenience and health. As matter of pure
ly economical calculation 1t is evident that the
contract is q spendthrift one. The city autho-
rites have no right to make gift of this pro-
perty to the Post Once Department, for such
it can only be regarded Were the sale con-
cluded tomorrow it could be upset by the action
of any individual citizen who had spirit enough
to contest its validity. The charter expressly
stipulates that property belonging to the city
can only be disposed Of to the highest bidder.
Within twenty -four hours we will undertake to
bring forward half a dozen individuals who are
prepared to bid for this cite three times the
amount offered by the government. In fact, if
the ground were put up to public competition,
it is probable that it would bring more than
double the sum which these individuals are dis
posed to give. The situation is so valuable that
no correct estimate can be formed of it from the
prices paid for the surrounding property. In
view of these facts the bargain is not only an
inequitable, but an illegal one, and no court
will ratify it.
1t would be cheaper for the city to purchase
site for the Post Office and to make gift
of it to the general government, than to sacri-
fee nearly two millions of valuable real estate
in this way. Three hundred thousand dollars
would purchase the requisite area at the Five
Points, and the advantage conferred on the city
by the removal of that plague spot would be
sufficient consideration for the money. A new
Post Office, in central position, is certainly
very much called for, but if we have to pay for
it such price as is involved in the sacrifice of
the Park, it would be better for us to reconcile
ourselves permanently to the Inconvenience Of
its present cramped situation.
The BREAD RIOTs.-We see by the foreign
papers that the good folk of London, Paris and
Berlin are anxiously looking out for revolu-
tion in New York, to be effected by the riotous
working classes. The London Tines rather
thinks we shall need to fall into the old ways
and keep up a standing army, in order to keep
down the populace of our great cities. And
the foreign press generally rather chuckle over
the prospect of communist or socialist outbursts
at New York, and draw the inference there
from that after all between republican and
divine-right governments the difference is very
small.
We fear that our friends across the water
will be disappointed. Since the municipal
election we have heard very little indeed
about bread riots. There has not been a single
gentleman willing to rob the banks at the head
Of force of malcontents. The banners in
scribed Work or death y must have been sold
as old rags, so thoroughly are their vocation
and their use gone. The Sub-treasury has never
been attacked, and the Assistant Treasurer of
the port sleeps, it is believed, with very general
placidity.
The fact was, the would-be rioters were hired
by the day by miserable ward politicians, with
a view of influencing the municipal elections !;
they earned their wages by shouting and
frightening a few gulls in Wall street; and
when the election was over they vanished.
Our contemporaries across the water have been
sold.