The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-03-23

ments, the proceeds OF such increased taxes ana
assessments being otherwise diverted. Here we
government and real estate. This Riverside Park
matter has been simply public scandal In respect
TO the authority which may or may not have the
power 10 vary the value Of real estate III that
neghborhood thousands OF dollars single lot.
me wretched economy which has been practised
In the Comptroler's once In regard TO street i'm
provements up town has been one of the largest
contributing causes TO the present condition OF the
feSi estate market A larger understanding OF
the requirements OF the situation would nave
found the truest economy in pushing forward
these Improvements SO that the enhanced
duced would have furnished the basis Of
an assessment and tax return that would
burden or Indebtedness. But one Of the weakest
points In our municipal administration is that in
this, the chief commercial city of tue Union, the
great financial centre OF the New World,
THERE IS NOT MAN
in any prominent position OF the city government,
or having any reference 70 the financial admins
JratiOn, who has financial understanding enough
TO justify him In seeking the presidency OF saw
ngs bank fand here Is given the largest limit OF his
intelgence) not to speak OF endeavoring TO direct
the affairs OF SO complicated department. Can
real estate thrive under such oppressive condi-
tons : Impossible. Real estate In this city must
be purged or several evils and not the least OF these
Is the present Comptroller
The real estate interest. which Is one OF the
largest in the country, fs pecui1ariy without
special representation in the councils OF pubic
thought II may, perhaps, think that because OF
It's exceptional excellence It can afford TO do with
out such representation. But this Is mistake.
No interest In this country afford TO hide itself
away and seek retirement as an argument lor Its
protection.
WE ARE A COMBATIvE PEOPLE,
and all Of our interests partake OF that instinct.
We cannot afford to stand still even Tor day In
any department Of commercial or Industrial &C
tivlty. Albany refused o much required relief to
the real estate or this county In denying the appl
cation for the repeal of the tax mortgages; but
this was done simply because real estate owners
had not made themselves heard as body SO
with rapid transit. 1t Is the absence OF any de-
terminate concerted effort on the part O the prop
erty owners OF this city in favor OF rapid transit
which gives the Legislature the license to tribe
with the subject.
so WITH REGARD TO THE HELL GATE IMPROVEMENT.
General Newton said years ago that whenever the
merchants OF New York city said to Congress- 1--WE
want this thing DONE" II would be done; out
while the merchants remained indifferent on the
subject, or only exhibited spasmodc terest, the
work would only have limited progress. Such
has been the result. And thus real estate Ian.
cuisines and approaches dangerous brink, be-
cause there Is NOBODY appears to have sufficient
interest IN 1t to come to its support. That support
is likely to come when IT is too late. In the mean
time the HERALD has performed its mission. and
can only add in conclusion, by way Of parting ad-
vice, "Heads from underl"