The daily morning journal and courier., 1901-03-28


 and the lawyers have who advise busi-
 ness men.
 J. The very fundamental strength, of thie bill is that the owner voluntarily fixes l the price. Who else knows so well as
 the owner what his property will fetch
 in the next six months or year?
 Knowing better than anyone else, he
 will not offer it below it's fair market
 value" in one case in one hundred.
 Take an illustrations:
 A house and lot
 The present fair market value. .$1, 800
 Assessed at ..................... 2,500
 The owner does not wish to sell,
 offers it under the bill at..... 1,7Q0
 Board of Relief reduces to...... 1,700
 Or if advertised there are no
 bids of $1,700, so the assess
 ment is then reduced to-. ...... HOO
 Now, on the other hand, under process of Jaw there is a forced sale at auction of similar property without the con- sent of the owner. At a sale under the hammer it might bring from $1,0O0 to $13O0 This we believe to be a reasona- ble supposition.
 | The cardinal difference in position be- tween Professor Farnam and myself is that these two widely-varying circum- stances cannot have precisely the same l.effect on price, nor anything near 1t. submit this to the judgment or practical business men and lawyers. 1 Professor Farnam quotes the Swiss | law, showing that it provides reference to term of years and average values, but then deducts one- eighth or one l fourth from the valuation so found That is all very interesting, but that is not our law. Our law uses the words ! present actual fair market value" Present market value' is entirely con- tradictory to the average selling price for ten years" The Swiss doctrine of assessment is evidently entirely differ ent from ours
 Professor Farnam refers to the indi- vidualty of properties, fact which makes all the more necessary an occa- sional appeal to the market itself as an ultimate authority. It is all the more reason why we should not trust wholly to the fallible judgments of men. Pro- lessor Farnam quotes the Supreme court, but he does not recite the fact that the Supreme court has said that the expressions actual value" mar | ket value" market price, mean the ! same thing. They mean the price or value of the article established or shown | by sales"
 We have many men in New Haven | who can criticise and pull down and | discourage efforts for the public good, but have those men offered remedies for | the injustice and wrong which our tax payers are suffering under? Is there law pending at the Capitol for this pur pose which was offered by Professor Farnam or Colonel osborn? Who olse has offered law for this purpose ex cept the Chamber of Commerce.?
 We already know that Professor Far nam can criticise in a way that is schol- arly and at the same time courteous There is more deserving answer in three inches of his space than there Is in twenty-five feet of Register editorials. But neither of these has offered a rem edy, and neither has spent three as I have in earnest efforts to get large number of intelligent peo- pie to unite upon any one measure for the general good, It is easy enough to make study of a subject and deal out the results in a critical, negative way, l for the thousands of cases of injustice that our citizens are suffering under?
 Mir Farnam says: 'The very plausi- bility of the plan, however, indicates he cleverness of its author, and cam not refrain from expressing the hope hat if the present bill is defeated those who so shrewdly worked it out will ap- ply their talent to the general study of ,ur property tax and lead in the work nE up of less crude. more compre- iensive, more statesmanlike reform of he whole system"
 But the editor of the Register says: We cannot agree that those who work d it out should continue their zeal in Iehalf of reform. Plainly the thing for hem to do is to purchase some text ook and begin the study of the sci nee and laws of taxation. They are lonest but they don't know. They hould be given leave to withdraw and efire'
 He also says: '"The impudence in at- empting to palm that list off on the ieneral Assembly as a collection of citizens is bad enough, ut i've suspect that before the end omes of this discussion even they themselves will show unpleasant re- eminent towards MT. Rowe for mak- = lg them masquerade before the public l false light"
 This editor insults the gentlemen hose names are in this list, but we him to point out the name of ne man in the list who has not shown 5 much business sagacity as he has nd is as capable of giving an intelli- ant opinion on the matter of valuation !. property.
 HENRY c. ROWE.