The New York herald., 1874-11-21
Economy and Enterpriss.

Economy and Enterpriss.
| The real estate owners Of the city justly
complain of the heavy taxation imposed upon
them for the expenses of the city government.
But their dissatisfaction is excited more by
the lack of enterprise and liberality In the
management of public affairs than by the
amount Of money they are called upon to pay
at the Tax Receivers Office. They would be
willing to pay exorbitant taxes if they were i'm
posed for the purpose OF making great public
improvements which would in the end en-
hance the valre OF property and yield return
for the investment But they are not willing
to pay three per cent on their property for
taxes while the progress of the city is blocked
and while the mountain of debt continues to
rise higher and higher. A large property
owner stated before the Legislative Committee
on Taxation, last Monday evening, that
"the system of docks started by Cen
eral Mcclellan would have been twenty
millions year advantage to this city, and the
whole estimated expense of them was only
about twenty million dollars but Comptroller
Green has fought against this as he has against
money to the CITY," This sounds the key
note OF the property owners complaint. Give
them we'll considered public improvements
that will benefit the city and they are ready to
pay for them without murmur. Tax them
tor the benefit of scheming politicians and in
triguing heads of departments and they very
properly object.
The present rate of taxation imposed upon
the city breaks down the value of real estate
as an investment. Say that citizen owns
a house for renting, for which he has
paid thirty thousand dollars and is assessed
twenty thousand He cannot get more than
two thousand one hundred dollars year rent
at the outside. His account stands as fol-
lows -
Taxes on $2O.0 900 at three per cent. 5000
Repairs One-half per cent. $50
Decay, two per cent. nt......................... 600
Rates. Insurance. Gc...................... $50
Total. 81. 500
@'Aoo
Annual excess. ACKNOWLEDGEMENTS. 5000
The thirty thousand dollars invested in city
bonds or other securities at seven per cent
would realize two thousand one hundred dol
lars year. Hence the owner of the house
loses by the investment one thousand five
hundred dollars year. Against this he has
only as set-off the probable increase in the
value of his lot, which, under our recent city
management, is not very promising one.
When the same calculation is applied to
some stores which bear fancy valuations the
result is more adverse to the owner of the
property. The only remedy to be hoped for
is in the practice of strict economy in the
public departments. The evil of running tho
departments in the political or personal inter-
est of the person or persons at their head is a
legacy of the old ring; but the Inheritance
has not been neglected by poor MI. Have
meyers appointees and friends. To-day there
is as much disposition to turn the city Offices
to personal advantage as there was under the
system that prevailed prior to 1871. The
Finance Department is an asylum for the politi-
cal lazzaroni who will swear fealty to its head.
It could be honestly conducted at an annual
cost of one hundred and fifty Thousand dol
lars. It receives in the Tax Levy of 1875,
under the estimate of the Board of Apportion-
ment, three hundred thousand dollars. Not
single department has been reduced more
than triae from last years appropriation,
except those OF Charities and Correction,
Police, Fire and Education. The first three
have not been reduced sufficiently. The Board
Of Education has been allotted quite enough
money to render any reduction of the salaries
of teachers unnecessary, if the School Com
missioners will perform their duties honestly
and get rid Of the fancy professors. male and
female, who are now employed in the public
schools against public policy and in violation
of the intent of the common school laws. The
Aldermen should have reduced every depart
ment to business basis. The estimate for
next year should be three or four millions
less than the estimate tor the present year.
As passed by the Board Of Apportionment it
is two million dollars higher. In the inter-
ests of the property owners and of the city
this scandalous squandering of the public
money should cease, and Mayor Wickham
should initiate the new regime by using his
influence to secure reduction of taxation for
next year.
The Extra Session.
Many of the democratic papers, and others