New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-03-13
LETTERS FROM TIE PEOPLE.
GETTING UP TOWN.


WHY TIE CITY SHOULD PROVIDE THE MEANS.
80 me RAZOR OF The Tribune.
SIR: ] wish | could share the happy conf
Sopee OF Mt Elliott f. Shepard in the of his Ele
waited Railway scheme embodied in Speaker Hitch
mans bill But does his plan Justify the hopes he would
build upon tf Has he considered the meaning OF cut
fling through me blocks just west Of Broadway" 10
twenty siXthst. There some blocks In that route
tat would alone cost more than sl,ooO0oo, for path
wide enough for four-track railroad. Mr.. Shepard
thinks the great advantage of his plan is that the eap
tass determine the precise route When the capl-
tai is subscribed An, there is the rub!
We may reason from experience. The IN Y CITY Un-
foreground Railway Company" was incorporatedn April
1903 It had charter containing most extraordinary
privileges elaborated with the greatest care, giving
route and plan selected with the whole field before il,
and contained its direction, the millionaire, bankers ana
merchants Of New-YOrk, names which are the synonym
of success the world over and IL asked but $oOO0o OF
capital 1t wonderful therefore that with the
passage OF that bin the public mind at rest-rapd
transit Was a fact accomplished. Ground was 10 DO
broken in june but and not sod was turned;
the Fail came and went and not stone was moved-a
year passed stroke has fallen, and o the dread
fu secret was ont capitalists had failed 10 come to time
not dollar In ITS treasury. The LeglsateIe HaH
again invoked privileges were given enlarged n
erection conferred as 10 plan and route new nings ~
have since passed. Not shovel full OF dirt has Deen
lifted, the millionaire directors have been resgnis
shoals, and Il il doubtful there ID now Ieit dn1
enough in the concern 10 call meeting anu a'pouiA
Sov' Nh. shepard thinks that 81 a new Company can
bo formed with its road in the air. instead OF IN tnS
grOrnd requiring N0OOO0OO0 OF capital LOT IShy ~,
way alone through five miles Of buildings instead "a
roadway under streets for nothing Ihe t riId
he obtained and capitalists will flock m al once 70 D
tie road Would IL not be we'll enough before aotneI
three wears DELAY IL asked that some OF these capitalists
Lo1li of.r i'm some tangible form 10 put up some p0r
ton Of this required capital say sl5OOoNO OF SZhooVVO
Ert MIR. shepard puts his appeal for his road as pr
yate enterprise and against city road, on the ground
NJ fyrt is
building Of this road by the city, though ~ sna E EoS'
II viii have Just the contrary effect ~ ray redace ue
burde Of tOratior and dford i'tStant org PeIH,ae
rCcf eJerg tarpdgc1i in he city fFst: Inc revenues
u ne road itself will pay ITS own interest on te TS
THIS respect, like The Crot0n AqueGnc. w9Sl nov ply
PAYS its own way, but creates sinking tund ior the @
mate reduction Of is debt Second: It's lmnedlae
effect upon the values OF property up town ana uOWh
town. notably mp town. will be, 10 80 greatly increase
that value. either to greatly diminish our ra@ Oh
faxes or vastly increase the aggregate amount
produced Tue Central Park has cost tloOy49oO'
tanned aud the interest its cost paid by yearly tax
alton Yet it has been proved over ana oyer sgh sug
s influence upon real estate around II mas Oeeh suct
it has not only cost nothing but Is eons'ane
source OF net 20 the City Treasury. mere arc
now upon tins island 10000 vacant lots utterly unlro
ducHe OF anything but taxes, and having an average
tx value Of 5000 each, SsOoOOO This, at y per
minutes Of Wast, and their value Is doubled gNlng
Tor taxes $l57500OO Cover them WIN DuliuhHs anu
thcir value is again doubled ana the revenue IS 10"
E1.EOlO00 From this deduct the present revenue,
t775Oo and the net gain Is S2C!9G9 or the present
fOia taxation OF the entire city. Making every allow
ance any of valuation particular eases or
exceptional the statement u viii thGs re
how certain that this work. undeI taken m the
interest the City, will prove work OF the stI7cfcSt
economy aud ultimately produce every required amount
OF CITY al rate OF taxation not eNceCdbb one
per ce5tt, One-h8lf the present rate.
Mr. shepard Is over selections for the welfare OF
aNpayers the measure he advocates Let us reduce
him 70 CURES. city road. II II costs S200O0O, and has
revenue al OF 20 pay itS own interest VIII require an
annual tax for that purpose Of $2O0OOJ This 20 each
inhabitauJ of the city would be 81 10. Now Mr. sheir
benehcent road, private enterprise, pro
poses charge each passenger 10 cents fare Tor each
passage The city road having no dirideHdS TO make,
limits its charge TO five cents If one taxpayer now has
u ride from his business twice day, and 800 days
in year. he Will pay Mr.. Shepards road 500 year.
and the city road $50 In other words, MIR shepaTds
road Will help him gave his tax OF 81 10 by charging him
SO extra for the service
repeat it earnestly New-York needs this road IL her
nteTestshe cannot afford 70 do without -dhd SHe
trU Opiy get IL UhcR she TcSOioeS herSeL % bUd a.
Neir- York, March g. 1871. :. T. CHURCH.