The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-01-03
and the financial resources Of the city he thereby

increased and the financial resources Of the city he thereby
IsoREAsR OF NEW YORK IN POPULATION AND WEALTH.
York to sustain and qudate Indebtedness the recent ami
am q me c "sa
1870 to the year preceding the outbreak OF ths civil war se
hye years twenty eish. per eena continuous rate Of
S % or 5 &
s ~ ed nine ana n s Per Since
cent thus that the syeTsss rate OF increase
The increase IN the valuation of the property OF the city
9a s1 1870 ss pei the ''" years
The present Is value Of the real estate of the
10 1veIaSe aOoo, ve per cent per annn%;
PROPERTY
also interesting to the relation which TAXATION
Of the other leading cities OF the country The following
CRY or NEW YoRKPo S $50 aggregate
State, city county and school 1870
isaS. per s srsrera,. Of q.
Sa sss saG total s s,a,s general
But Is IN The opincn Of the Of taxa
ION When asssssis levy taxes
10 the vane OF the property assessed, attention further
one aSd rss
the taxation real estate valuation these
cities would be AS follows. ,o, u.,,
gate asa.i9n 1870 1915 ratio Of taxation So real prop
PMlIADnIrnlA Real estate valuation 1871, 4sl44ose
aggregate taxation 1871 50 ratio Of taxation To real
properly valuation, one to fifty four.
CINGIN NATIRcai estate valuation, a. made anew Tor
1871 %l8 427SS aggregate taxation 1911 0o5 ratio
In the city Of New YORK. ON the other hand on valuation
OF real estate be only about forty cent OF
the real property the ratio OF aggregate Taxation to real prop
seven but the valuation of the real estate OF New York
were advanced In proportion to the value taken Tor assess
OF being to wenyseven, would be much more favo
able than in either OF the cities above mentioned or in the
approximate ratio OF NJ least one TO sxtyive.
10 therefore evident that in with the actual,
ACCUMULATED and tangible wealth of lie city OF New York.
any liability account of indebtedness which the city has
asyet Incurred or rrospecvey likely To ncur very
Insignificant and with reasonably honest efficient and
economical government such pubic opinion and egisa
tive authority guided by recent experiences seems certain
bearing debt obligations of the city should not be regarded AS
the most desirable OF investments ! am yo1rs most le-
Chairman Board Of Commits tor Revision Laws
of the state Of New York Relating the Assessment and
Col ection OF Taxes
To Hon. JonS i. HOFFMAN, Governor OF the State Of
New York.
have also received q letter, dated 2oth Deem.
ber 1871, from Hon. Andrew II. Green, Comp
trollcr OF the city OF New York, in which ne says:-
Immediate legislation essential Tor the main
tenance OF the credit OF the city by the
meeting OF the Obligations maturing early IN Janu.
airy and TO make provision for past claims which
are due and winch are OF pressing Importance.
Equally important Is prompt legislation To make
provision Tor the maintenance or the government
Of 1872.
''As the law appears now Chapter $50, section 3
OF 1871. no autnOriiy exists to make apprOpr,a-
tions until May next, leaving the first Jour months
OF the year 1872 without any provision by which
payments OF necessary expenses for these months
can be made.n
I respectfully ask your Immediate attention TO
those suggestions, ana such early legislation with
reference TO them as may be necessary ana proper.
JOHN L. HOFFMAN.