Sacramento daily record-union., 1883-09-15

wholly prohtless. 1t would be better to
consider the duty of the officers under the
law and to cease condemning them for
that for which they cannot be justly held
responsible. 1t is alleged, and with much
reason to support it, that San Francisco
has not for years been assessed as con-
templated by the law, in the enactment of
which that city had more to do than any
other section. Her assessment roll, it is
charged, is not less than 35 per cent. too
low. Instead of aggrega.ing some $780,
100000, it should foot up fully $780,
900, 600 at the very least. Now, the law
requires that property shall be assessed at
full cash value, and fixes that value at the
taking price for payment of just debt due
from solvent debtor. It is complained that
the Board have instructed Assessors to meas
ure values by the selling price of property
of like quality and similarly situated. This
to us appears to be the standard oontem-
plated by the law. But whether this is or
is not correct definition, and whether or
not the local Assessors have observed this
or some other rule in estimating values, is
not now in issue. All that has been before
the Board to this date is the question
whether or not the assessments in the
counties bear that relation to each other as
regards value, as is contemplated by the
law. To that judgment, so far as the
States interest is concerned, the duty of
the Board is to be directed. If it shall
determine it to be its duty to increase GER
tain assessments, and in SO doing shall do
wrong, it will be an error of judgment, to
which all men are liable but to aim at the
equalization of assessments by increasing
or decreasing values estimated is the
bounden duty OF the Board. In arriv.
ing at its final Judgment it must be
guided by the rule it has itself estab-
lished. Regarding the correctness
OF that standard we are not now con.
cerned. The Board, or at least majority
of it, is convinced that in many counties
there has been under assessment, and if it
is thus settled in opinion it has sworn
duty to perform, and that is to
right, so far as its power ex-
tends, what it deems to be wrong.
But whatever it does it must be borne in
mind that it will result in good in the
warning this agitation has given local As
SCISSORS, and hereafter, probably, We shall
have all assessment rolls more nearly
in compliance with the law. 1t is
urged that if the Board shall sder
assessment rolls to be increased by q gwen
percentage, it will do a great wrong, mas
much as it will thereby increase the values
of mortgages, which can have but their
face value. This is error in many cases. It
is notorious that many mortgages are not
assessed at their true value, and if need
be, counties can be named in which the
mortgage securities are placed at a valna.
ton fully thirty per cent. below full value,
or, in other words, values which the mort.
cages must realize on foreclosure or for
which they are good as negotiable in
struments. But if we admit that the
raising of an assessment roll will in some
instances work hardships, or that it will in
many cases do grevious wrong, we have
impracticable schemes of the revenue
system, and which the notorious de-
oision of the Supreme Court, now SO freely
debated, serves the more to complicate.
Bat we hold that no wrong of this eharac-
ter can be perpetuated. If in the necessi.
ty of its duty in the attainment of good
end, the Board must inhct upon mortgage
holders injury, equity will relieve them
from the burden, and thus the hardship
the Board may unwillingly visit upon acass
will be negatived. As to the political mo-
tive alleged TO be actuating the Board, we
have no idea that the charge is true. We
are not the political sponsors or apologists
for the Board, but we protest that the
presumption must be in favor of the of.
ficials. We bear in mind, too. that one of
the strongest friends, if not. indeed, the
head and front of the equalization process
objected to, is in the political minority of
the Beard. That gentleman cannot surely
be said to be moved by hope of political
gain for his party. Our revenue system is
full of wrong, the elements of good in it
do not preponderate to any great degree,
and until revision is had, confusion and
demeralizing contests must result. When
the Board shall have acted, as it must do
to-day, its judgment will be before the
public for criticism, and we shall not hesi-
tate then to speak of it as Justice shall de.
mand.