The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1857-11-05


<4x. CARLsIs;-Mr. Carpenter, in his cord-
in Tuesdays Journal, complains |
Of the action of the City Council in laying |
on the table his petition for o committee Of |
revision to re-appraise his property. :
I voted 70 lay it on ths table for the reason
assigned BY me at the tine-thas IFS COM
plains was too general; that If his request
vas complied with, 1t would sMotnt to re-
organisation Of the Equahsation Board, a.
power which was not delegated to the City
Council, and especially unjust after a portion
of the people had paid their taxes. If he
would point out any particular instance of
injustice, that had been done. or any plain
error that had been committed, l, for one,
was willing to hear his complaint, and to do
him justice. will just say here, that so far
as his property was concerned, I took. no
part in the original appraisement. The per-
sonal relations between the gentleman and
myself, made me feel delicscy in having
anything to do with his property while there
were members OF. the Board better acquaint-
ed with the value of it and on more friendly
relations with him, more fully competent to
discharge that duty. a.
/ have neither time nor spsee to discuss at
length the STANDARD Of vaiuc.'ne 1t is an
idea that every man, as we'll as every writer
on political economy defines for himself. l
will state, however, the principle that gov
erned the Board of Equalization as under
stood it, and which think is correct. The
principle of 'svalue" in city property, think
is of two kinds-ideal and intrinsic. Ideal
value attaches to the soil which is the work
of the Almighty, and depends for its value
on accidental location or the general opin-
ion Of men. Intrinsic value attaches to i'm
proyements and depends on the amount and
cost of labor it takes to construct them. In
affixing a value TO lots, the opinion of men OF
good judgment acquainted with the property
must be- taken as the criterion. In fixing the
value Of improvements, the eost Of their con-
struction must be the first principle.
The principle of "value" adopted by the
Board of Equalization in fixing the value Of
| Improvements, was a FAIR cost of the build
| ing, dedueting therefrom its deterioration by
use, wear, or decay.
The rich man who encloses large square
with high walls and iron railing, and erect.
splendid mansion ut cost OF twenty
thousand dollars cannot expect such prop.
erty to yield him high rate of interest
but he has absorbed that amount of hi
personal property in the improvement, and
his taste for splendor ought not to exemp
him from taxation in proportion to the cos
of the poor mans cottage of two hundred
dollars value, ---a- - s~f
Again, another man takes twenty thou
sand dollars and erocts, in a business part o
your city building costing the full amount
| ought lie he be taxed more than it cost, evel
il it does yield him ten or even twenty pc
cent?. The last is the most valuable cit
zen. He invests the money where the com
munity needs the improvement-it pay
him, for that reason good return. Tha
return again becomes personal property, sub
ject to taxation, and in q few years the cit
derives two-fold taxation on the investmen,
and SO on in increasing ratio. The frst re
mains like the talent buried in tho earth,
nay worse, for in few years it viii not b
worth half its cost, and the city will ont
tax it at its value.
was very much surprised that any sen
srblc man should make such offers to ex
change his property, as Mr.. Carpenter doe
to the Councilmen. The offers are not prac
teal, and were surely not made with any ex
pcctation of being acceded to. As itregard
my own property, it is placed beyond sue
offers, rs it is all subject for some thirt
days to be purchased by himself on tn
came terms he purchased my homestead an
by my desire to accommodate him with goo
bargains. auilt. M. w. FOSTER.