The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-05-01


and avenue treatment on tais hillside into one
TO permit this treatment 1t was necessary 70
widen the avenue, and this was done under Sec
ton or chapter $50 OF the Laws Of 1873. The as
sessment Tor the land taxed for the park and
avenue was s6,l73,960, OF which S306o,4Sl
was assessed on the CITY anu 3lOa,479
was assessed on private property. or tnls
latter sum S2,472.Ss2 has been paid. The parks
are the city's own property, which they can
spend money upon at their own convenience.
TIE cty will be ecr to assessment Tor the con-
structnn OF Riverside avenue anG Mnrnlngsde
avenue. Inc latter work - going on. and the
expense will not DC great. Wlen Riverside ave-
nue. IS constructed the improvements Will be COM
plete. TIE cost OF construction - estimated at
s., coo, 000 The reasons suggested for the prose-
cution OF the work Is that THIS is the last or
series OF improvements, Tor which the city pays
portion OF tine expense which have been planned
Tor the west side region and that 10 Will, al small
relative Cost, produce results OF great permanent
benefit to the city. IL also urged tnat Riverside
avenue should be completed because II gives char
acter to region OF three square miles IL Is further
claimed that the property owners would bear their
OF Improvement IN which the character and value
OF their property depends Is carried out. Commits
lion to this avenue Is put upon tae ground That
the expenses OF the city must be reduced and
that no more money must be spent III works OF
this charac or; but while admitting this propnety
or reduc lon he asks whether II Is inadequate Tor
q nnancia policy sin order" saws Commissioner
Martln "to restore a sound condition OF pros
perlty there must be, IN addition TO retrench-
measures Tor financial relief THIS Is obvious to
men OF all Classes. Tue laborer. the business man
ana the business corporations 90 not stop win
the reducuon OF expenses, but they seek 10 IN.
crease earnings. 10 develop resources and to
watch Tor every dollar which can he gained or
new and sale enterprises A positive policy
therefore, OF treating iudicousy the resources or
the city so as TO retain It's natural grown and In
crease It's revenue, mas US merits. notwithstand-
Ing the disdain with which it IL treated. IL was
a wise poiicy ten years ago. aud IS now producing
IT'S beneficial results. Ii ~ policy now. IL
is policy which, In private matters. the whole
business energy OF the country is engaged
In studying. It Is the only ground on which
all the uptown improvements were based.r AFTER
reclting the beneficial results this policy
would produce the Commissioner goes on TO state
that all the taxes OF the city are now raised
property subject 10 taxation, amounting 10
ST. 900 600 or 81 oOO 900 the rate of taxation
would be reduced in uroporrlon, and his would
be beneficial to downtown property owners and
taxpayers. There IL but one way In which this in.
crease can be made, ana tlat Is py increasing tue
valuation in the upper WARDS. II cannot be done
without Injustice oy increasing the valuation In
the lower wards, and they are saved from this In
crease by having the increase made 10 the upper
cludes as follows:-lt is not proposed to
pnsn forward any general scneme OF
those that have been proposed shall carried out
now. The state OF the times and Jud cious re-
gard for the financial condition OF the CITY require
that only those which at silght cost produce great
results should receive any attention. The primary
cause OF the present distress ~ the country and
depression Of prices Is that out OF tae aggregate
OF the annual accumulation or the wealth OF the
country, whicn goes to MAKE up Its capital, too
large a proportion has been expended on works
that are not remunerative ana are in arvance or
any necessity for them. Railroads, mills and fac
tories and SUBURBAN improvements are all Of this
charac er; but IL Is also true that when the nat
ural prosperity OF the country begins TO revive IL
rs a sound rule OF financial policy, In order pro-
mote that revival 10 carry on aud complete those
works wnicn are nearest 10 compile ton and which
Will be remuneraflve In the lar est proportion and
IN the shortest time.
Within the lines or this discrimination this River
side Improvement comes with precision, and there
are but very lew OF such works within the domain
or the Department Of Parks. lt mas peen the scope
and purpose o. this argument TO snow tnat this
Improvement Is one which Is tue final, and az the
same time the essential and characteristic feature
OF a whole system OF improvements wDicn have
Teen prosecuted side at millions OF
eNnense for the past ten years: that lt Is neces-
sary to he completed now. and that IL Will produce
results upon the property within its influence not
SUI passed By the eject OF the central Park upon
the property border ng on it-results beneficial to
tine ctty In securing the population and wealth
which belong 10 IT, in broa iening its basis tax
alton ana IN increasing its revenues-results OF
which tie city rs now receiving the benefit. and
wnlcn lt Is unjust Ior the city 70 receive, and NJ
the same time TO deprive the property owners Il
the benefit for winch they nave already been
assessed.
The permanent debt OF the CITY is. after all, but
4 small percentage on its valuation. lt is
greater tnan the value oil the land included within
parks. These parks alone would pay the debt,
Tor the aud - worth at least 500 GOO.
The debt OF the city In 1874 Sal 500 758
Less sinking iund .SlO,ali1so
Less assessment oonds.............. 2Oool OOO