Show THE CANAL Judge SnowGives Some Figures on the Subject SALT LAKE CITY March 20 I860 Editors Herald Our legislature at ita last session as you remember pasted an act authorizing au-thorizing this city to borrow 250000 in money to aid in constructing a canal from the River Jordan to this city and another act to enable the city to secure the right of way for the canal They also passed another acton act-on the subject of water and water rights I being a part of my duties to study the law and observe their workings and I not wishing to make oral remarks on tbe subject concluded con-cluded to study these laws in my office and give the result of my studies to the public through the press In doing so I beg first to call attention to a few things which each one knows or must know if attention H called to them Firstit is known that land and water are both gilts of God yet man uses both and of necessity must continue con-tinue to use them SecondLand ia immovable but water is movable Land can be segregated seg-regated and ono piece given to one and another to another person with reasonably accurate hmiis Water generally can net It fluctuates evaporate runs and flows With ua tbe land is good with tin water and go tho water with the Land The water and the land must bo used together We cannot depend solely on rains Last season tba water was scarce and by reason ot ihut scarcity the attention of all was turned tJ the subject I have ststd that my bud ness lead mo to understand to 1 limited txtent tie condition of the inhabitants in-habitants of tie county wIn reside outide of this city It appeared tome to-me that their condition was worse i than ours ai to water I beard much also of the condition of the inhabitants inhabi-tants c the city who reside on the Twentieth Ward bench l these are or at least may be well known and f ally are not needed in the remarks re-marks I have to mako except to show the impoitance of all considering I consider-ing them in their vote on the question ques-tion of the ban Before noticing further the statute I will state a few maxims of law which have an influence on this subject sub-ject One is The frEt in point of time is first in right And the other ia So use your own property as not to injure others which by implication may include so exercise your own rights as not to take away the rights of others It is not a recognized re-cognized principle oi law that an exclusive right to the use of water may be acquired by appropriation and lost by abandonment With this before me I go to the statute The statute confers the power on the City Council for the purpose of providing money wherewith where-with to construct a canal and other workF by means of which to supply the inhabitants of said city with water and borrow money to an amount cot exceeding the sum of 250000either by the issue of coupon bonds or other negotiable securities as said City Council shall deem most conducive t3 the interest of the city Here arises the first point to be considered I will compute i a little in exttmo I will tho eteso wi suppose money borrowed at 8 per cent per annum I the interest payable annualy and the principal in fifteen years and allow annually for the costs of assessing colkcting and disbursing the money and nothing for delinquency The assessment roll of the taxable property 000 prop-erty of the city is now about 7000 000The The interest on this sum 250QOO at 8 per cent will be 20000 per annum an-num to which I will add for costs of collections etc only 1000 annually an-nually making an expense in addition ad-dition to our other expenses of 21 000 per annum This will bo an annul an-nul tex on the present taxable property prop-erty in the city of 3 per 1000 A person then who owns taxable property in the city ta the amount of 2 COO must pay 6 per annum i one that owns 10000 mutt pay 3U per annum and one who owns 100000 must pay 300 per annum to pay the interest The pereon who pays 3 per annum will in fifteen years pay 45 the one who pays S6 will pay 90 the one who pays 30 will pay 450 the one who pays 300 will pay 4500 and still tho principal of 250000 is to be raised Any person who now has taxable pjoperly in the city and knows the assessed value thereof can with a little computation fill in the balance for himself This you eec Mr Editcr is counting the cost This is the burden ol tho matter assuming that the value of property continues for fifteen years the same us it now is without increase or diminution which we al know will not be the caee Allowances musts therefore be made for this change value it maybe may-be increased value i so the burden growa less annually Each voter must estimate this for himself You see to I have been minute in this I have descended particular This however is supposing no part of the principal to be paid during the fifteen years WhEn payments are made OD the principal the interest diminishes We lock further to the act Section two requires the City Council to set apart semiannually onefifth of its revenue ta pay the ktfrest and principal prin-cipal We will look to this a little I do not know the annual amount o the city revenue SuppOc it to be 105000 then the amount set apart pays only the interest Suppose it to be150COD per annum tlien 30000 per annum is set apart 21000 of which to pay the interest 210 and 9000 on the principal will be annually paid This pays i fifteen years tbe interest nnd something in excess of 135000 of the principal Hero it is necessary to bear in mind that when we pay 9000 on the principal each year we A3 before said diminish the interest I a computation was madeI have not done itIt might be found that the payment of the 30000 per annum would in fifteen years nearly perhaps per-haps quite pay the interest and principal Since penning the above I have made a rough estimate and find ie amount thus annually applied will reduce the principal tp a something leEs than 40000 in tbe fifteen years yearsVhen When our present revenue act waa under consideration before the committee com-mittee of the House on revenue I remarked re-marked then that in my judgment the citie by their charters have conferred on them greater means to obtain a revenue in proportion to their duties than the Legislature have ever used for itself or conferred on the counte To this they replied and truthful and intslligent they were tltful intsligent men that the city even then needed wore revenue than it was raising I refer to this as it i was then before the Legislature who bad the right IQ act Now that right sj lai t aj this town is concerned ia referred to tbe voters of the city In this letter it will at a glance bo preceived that I have E t forth the burdens of the act and entirely the benefits anticipated omitted benefts anticipated Had I now time and had not this letter already occupied space enough I should attempt to lring into view Home of its benefits J now intend to resume the subject and present my views as to the benefits I now only add these views I herein present and those I may hereafter pen are and will be only the views ol one person I have been spoken to but not consulted con-sulted with on this subject Yours truly Z SNOW |