The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-08-13

Real ESt0tc V0lue In Now York city,
That land is rapidly increasing in value
within the city boundaries none can be igno-
rant of. We oil know that it requires more
money to buy house up town or q store in
one of the avenues than it did five years ago.
But to make even an approximate guess OF the
vast wealth represented by the real estate of
Manhattan Island we must have recourse to
the official figures, just reported to the Mayor
by the Commissioners of Taxes and Assess
ments. These tell us that the gross assessed
value on the LIST of this month was eight hun
dred and thrty-sx and half million dollars
an increase of thirty-nine and a half millions
over the valuation of last year. A large por-
ton of this increase has been placed upon the
three upper wards-the Twelfth, Nineteenth
and Twenty-second. These wards contain al
most three-ffths of the whole city area. In
them, during the last three years, considerably
more than half of the new buildings Of the city
have been erected. In these also are situated
the noble public parks and boulevards upon
which the lnu.icipal money has been
literally spent Central PARK Loo .est
us round sum. It has converted bare
rocky ridge into blooming garden, the
pride of the city and the daily resort of many
thousand charmed visitors; and it has added
hundreds of millions to the taxable value Of
the district lying adjacent to it, which is
rapidly filing up with substantial and elegant
edifces the homes of honored citizens. For
| every dollar which the city pays for parks and
other like improvements above Fifty-ninth
street citizens are laying out hundreds and
thousands in permanent buildings, rapidly in
creasing the population of the three upper
wards and the amount Of the taxable value of
our real estate, and by so much reducing the
proportionate taxation of property in the
other wards. True economy in our city
management is thus demonstrated to be O
prudent and liberal use of money in beautify-
ing the parks, public grounds and places of
the city; in perfecting our means of communi-
cation and transit from one point of the city
to all others; in short, in making New
York city the most attractive and satisfactory
place of residence which can be found by
those who do business here, instead Of leaving
them to find pleasant homes beyond the city
bounds. This city needs increased facilities
for rapid transit to Westminster, quicker
and more constant communication with
Long Island, Staten Island and New Jersey;
but still more important is it that we
should have perfect pavements and the most
efficient and speedy modes Of passing from
one part to all others Of the city. We need
also improved drainage and thorough sewerage
and sanitary reform in oil portions Of the
island. Our small swamp area should at once
be filled, our nuisances promptly abated, our
police should be made efficient. In short, New
York should be made the pleasantest, safest
and most comfortable and convenient resi-
dence in the world. Why should it notp Then
even the veriest old fogy Of us all would be
forced to acknowledge that the liberal policy
in city finances was proved the true policy
when the value of the real estate in the island
should have doubled or quadrupled its present
amount,