As large numbers of horses are used by the city and village population, the above proportion does not properly express their relation to the improved land. The fourth group has comparatively few villages and no cities or large towns. Its inhabitants are more exclusively rural than any other group. The proportion of horses to inhabitants will approximate the number used for agricultural purposes by the rural inhabitants in other groups.

In this district, then, there is only one horse to five persons. The average for the whole State is one to six. The proportion in the city of New York, which is exclusively urban in its population, was one to forty-four. Taking that number as applying to all the cities and villages, and it would be safe to estimate the number of horses of all ages kept upon the farm, as averaging one to 2.7 rural population, or one to twenty-seven acres of improved land.

The annual consumption of beef by all the inhabitants of this State will average four ounces per head per day, or one and a-half pounds per family per day. There were in 1855, 632,746 families. This would make the daily consumption average 949,119 lbs., which at 700 lbs. dead weight of animal, would be equal to an annual consumption of 494,220 head of cattle. We may, therefore, safely estimate the cattle killed for beef, as from the State, or that the number is equal to that surplus.

Total value of animals and vegetable products... $119,955,937

If to this sum be added for the annual consumption of animal and vegetable products by the rural population not enumerated in the census, at least $10 per head, making an aggregate of $13,500,000, we have a grand total of $133,455,937 as the product of agriculture annually.

Allowing that one-half should go for cost of production, and the other half to capital, and we have for each half

The gross annual average product for the improved land would be $9.77 per acre, giving to the farmer for the labor and cost of production $4.88 per acre, and to his capital, $4.88 per acre also. This would indicate an average fixed capital employed in agriculture of $70 per acre for all the improved land.

The census makes the capital thus employed equal to an average of $67.57 per acre.

The average capital of $70 per acre is thus divided, viz:

CHAPTER IV.

Valuations-Real Estate-How Obtained-Erie County given as a Specimen-New York city Valued-Cities Valued-Aggregates - Unimproved land Valued-How-Average value of Land- Personal Estate-Difficult to Analyze-Aggregates-Insurance Risks-Aggregate Real and Personal-Insurance Department gather Statistics-Agriculture, detailed in Groups-General-Farming improved in Five Years-Manure Increased-Dairy TendencyAnimal and Vegetable Produce-One must Exceed the Other-Competition of other StatesImprovement of Farms Necessary-Different Crops-Vineyards.

VALUE OF REAL AND PERSONAL ESTATE.

REAL ESTATE.

The plan adopted in making the valuation of real estate in table I of the general appendix, was first to classify the farm lands by dividing them into first, second and third class, according to their productiveness or location. Each county was then examined by townships, and the several townships classified, and then the lands were valued and classified in each town, and the aggregate produced the results arrived at in the column of acreable valuation for farm lands in table I of the general appendix. Real estate of cities was also analyzed by area and lots, and valued in classes, and the aggregate gave the average value per lot. Real estate of villages and corporations was estimated by the known value of certain villages, and the corporations, mostly railroads, either by their returns or by the miles in a given county.

During the five years that the State Assessors have been acting, constant efforts have been made to induce the boards of supervisors to adopt the plan of separating the village from the other real estate, but except in a very few instances, without success. Generally they have contented themselves with complaining of our valuations of their counties, but have done nothing to prove valuation erroneous.

The valuations of the county of Erie and of the city of Buffalo are given. below, that a proper idea may be formed of the manner wherein the several valuations were achieved and the basis adopted by the writer:

VALUE OF CITY AND VILLAGE, AND CORPORATION REAL ESTATE IN

SAID COUNTY.

THE CITY OF Buffalo.

This city contains within its corporate limits an area of 23,874 acres. Included in streets, squares, docks, basins, and untaxable, 3,000; leaving for purposes of improvement and taxation, 20,874 acres.

The usual rule adopted in laying off city lots is to allow twelve feet to

the

acre, when the streets have not been deducted, or 2,500 square feet for each lot. Assuming then twelve lots to the acre, would make the city contain 250,488 lots.

Aggregate value of real estate in Erie county..... $55,114,752

If boards of supervisors would adopt the same plan in analyzing and valuing the real estate of their several counties, the trouble of equalizing would be much abridged.

REAL ESTATE.

The city and county of New York is embraced within the limits of the

corporation of the city of New York. It has upon its assessment roll of real estate 134,483 lots.

In analyzing their value in order to arrive at an average per lot, and thus at the full value of the real estate of the city, they are divided into eighths, and the average value of the lots in each division fixed as follows, 16,685 lots, viz:

One-eighth.

One-eighth.

One-eighth..

One-eighth..

.....

$20,000

10,000

5,000

3,000

2,000

1,000

500

The value of all the incorporated city real estate of the State is :

In the foregoing aggregate, farm lands are estimated only on the improved land, and at an average of $70.00 per acre.

The unimproved lands

Average of the $13,000,000 of unimproved land $10.00 per acre, or of all the land of the State unimproved and improved at $40.00 per acre.

It will be observed that the aggregate value of the real estate of the cities, villages and corporations, equals the value of all the lands of the State, improved and unimproved.

PERSONAL ESTATE.

The aggregate of the personal property cannot be analyzed as the real estate has been, owing to the defective condition of our statistics. Still, with the dim lights which are furnished, we may approximate a total that. will serve to convey some idea, though slight, of the vast amount of personal wealth in the hands of our citizens which is realized capital, or in process of conversion thereto.

The aggregate personal property returned by the local or town and ward assessors for 1862 was $313,802,682.00. Of this sum $107,556,664 was bank capital. There should be added for insurance capital taxed $20,432,