The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1877-07-19
THRILLING BURDENS BORNE BY
TEXAS.

There are many reasons assigned for
the decline in prices of property in
American cities. In most it is ascribed
TO heavy taxation, but Of twenly-one
leading cities only four or five are more
heavily taxed than St. Louis, viz. /:
Brooklyn, So "a per 500; Buffalo.
$3.50 i-2; Detroit, So 9e; New Or
leans, s.. 90; Cincinnati QS75), So. SO.
In st. Loais the rate of taxation is
So s.. Last year it was So As 1.2.
The depreciation of real estate values
is by no means more noticeable here
than elsewhere. Recent sales in New
York city indicate that property in the
past four years has in many instances
fallen fully two-thirds below the prices
it oZce commanded. The average of
taxation, outside of TeX4s, on real es-
tate Is above two per cent. Renting
is not entirely dead, and there are
some few people looking after homes
If high taxes cause depreciation in st.
Louis and New York, since our rates
are Sppe half less than those of st.
Louis, the decline here should
have been one-half less than in
the Fast where public burdens
are enormous. The general causes
operating upon the whole country
are the same here and in the East. The
volume of currency is lessened and
gold is kept at costly premium be
cause of the non-coinage of the SILVER
dollar, and because it is legal tender
for only s.. Sherman smites property
values every day, and the weakest,
worst governed towns feel the blows
most keenlY. Clancy property" in
towns and cities suffers most, while
that on business thoroughfares in GIN
cinnatl and st. LOUIS and Galveston
maintains its solid value, and rents are
little changed on Third, Fourth and
Fifth streets in St. Louis, or on thr
Strand in Galveston. ii, u'es built as
abodes of luxury and taste have few
tenants, and costly residences, demand
ing many servants, and town lots fitted
for such residences, have lost value
but business is business still, and
therefore the owners of mercantile es-
Establishments in the great cities do not
lessen rent rates, and simply because
the demand is hardly lessened. The
same facts pertain to interior towns
and cities everywhere, and therefore
the complaints of tradcspeople that
owners of business property demand
100 much. People are apt to ask for
what they have what they can get,
and no more. 1t may be very wrong,
but God made US, and not we our
selves. When We contemplate the con-
dition of our own beautiful capital we
must remember that burdens of visible
taxation are comparatively light, Ger
tainlu two thirds less than in st. Louis
and most cities. The country about
the capital is becoming rapidly and
densely populated, and strangely
enough the more people and the more
the production of their farms the less
the trade of the capital of Texas.
We see the cause but do not care tc
confess 1t. 1t might cost US something,
and in truth if we do not bridge the
International at Round Rcck as We
have bridged the Colorado and give
Northern Texas access to the capital,
we will deserve the sure fate that be
falls US and all people untrue to them
selves. Must we not devote three OF
five per cent. of our wealth to the con
struction of narrow gauge towards
Ell PasO2