, 1876-07-03
TIE LAEE-FR0NT PROPERTY.


TEE LAEE-FRONT PROPERTY.
The TRIBUNE yesterday published tho
Judgment Of the Supreme Court in the case
Of the Chicago tax cases. The effect Of that
judgment is a serious one. It blots out ST.
304, 900 Of The hitherto deemed certcin assets
Of the city; Gl}prges out the supposed lien
for that much revenue, and adds that sum to
the debt Of the city for which there is no
substantial provision. There is difference
Of opinion among lawyers whether any por-
ton Of this tux Gun ever be collected. As
the matter now stands, there is no remedy.
The Court has decided that there Yves no tax
levied in 1873 or 1874, aud, there having
been no tax levied, no1ien could attach Some
legal gentlemen ASSUME that the Legislature
can in some way rescue the city. But the
Legislature can levy no tax for city purposes,
nor can it authorize the city to levy taxes in
any other way or for any other purpose than
is provided in the general law Cor the govern
1nent Of all cities. The Law provides that,
where taxes levied in one year fail to be col
lccted, they may be added to the levy for the
next year; but the trouble in this cese is,
there wasnolevy of taxes at all made in 1878
or 1874 The whole proceedings BY the city
intended for On assessment md n
tax levy for those years, the Court
declares were void, not having the
semblance of legality. Tho Court sweeps
the whole tax operations by the city
Tor those two years out Of the record, de-
clar;ng them to be void. The City of Chi
cago owes much of her financial 1nisfortunes
to the policy Of having the Legislature try
to put aside the Constitution. But, even
supposing that in some now unknown way
the Legislature may be able to provide for
the recovery of these lost taxes, it will be
long time in the future before such legisla-
ton will be available, and the city in the
meantime must have revenue.
The City of Chicago is possessed Of
large amount Of unproducdve real estate.
Unfortunately, there is no salo for this at the
present time: But there is q standing offer
Of $500, 1000 for quit-claim deed for what
ever claim or title the city may have to the
three northern blocks Of the Lake-Front
To these blocks the city has no possible
claim except what it has derived from the
United States, and the title to two of them
is exclusively in the United States. The OBJ
lection, before the fire, to the sale Of these
blocks was largely sentimental, but the SEN
timent vanished in the flames. The refusal
to sell that property now is pure obstinacy,
"a clinging to an old prejudice which now
hes no foundation. That part of the city is
waste; it has passed out of tho catalogue
Of residence property, and the refusal Of the
city to sell the property renders it unavaila-
bic for any other business. There are sever
al blocks of real estate west Of Michigan
avenue which are hung in suspense by
reason Of the inaction Of the city. The three
blocks east Of Michigan avenue are wanted
for depot. ALI the property in the neigh
borhood is threatened with this pending
proposition If the depot was made Ger
tainty,' al the property in the neighborhood
would at once advance 25 Per cent in value,
and would ut once be sa1able, and would be
rapidly improved With the depot, there
would be in few years several millions of
AiQEA " L4G llAAOlG ftlUG u L1E
district now an unoccupied waste,-a scene
of desolGtion.
In addition to The appeal of common sense
and ordinary business intelligence, We now
have the demand Of imperative necessity.
We have lost 81, ,3o4, 200 of our assets, on the
collection Of which the city has been depend
ing for the means to pay its debts. The
money has to be had, and it will be
nothing less than unrcasoaing oLstin.cy
that will any longer postpone IN acceptance
OF the $500, 900 offered by the raiiroaa com
panies for this land, to which the city has
but questionable title even to small por-
ton. Here is means Of practical relief, the
adoption of which will be of immediate ben
eft not only to the embarrassed Treasury,
but to the owners of large district of prup-
erty, and add largely to list Of tazables of
the city.