Imo, enchantments should be balanced as follows:
Inspiration - +1 reseach/essence - 10 mana cost - extremely useful and well balanced.
Meditation - +1 mana/essence - 10 mana cost - extremely useful and well balanced.
Enchanted Hammers - +1 materials - 10 mana cost - acceptable if low unrest, but balanced.
Sovereign's Call - +1 growth/essence - 20 mana cost - extremely useful and well balanced.
Oppression - 10% unrest reduction - 10 mana cost - extremely useful and well balanced. Don't underestimate the reduction of unrest. This gives your more production that having enchanted hammers with the higher unrest. Both in conjunction can be REALLY good.
Propaganda - +1 gildar/essence - 10 mana cost - extremely useful and well balanced.
I don't quite agree in your assessment...
Propaganda will still be a waste of an essence slot compared to inspiration.
Meditation should not really cost 10 mana, not if the other enchants also are 10 mana, I don't think meditation is far too powerful, the only reason I really run it is lack of better options, like only other options are "Sovereign's Call" and "Aura of Might".
Don't get me wrong, I use sovereign's call, but that is more lategame.
I think the scaling of inspiration is plain wrong, it will triple your initial research on a 2 essence spot, this will give you a HUGE boost to starting research, then again I never really liked the point that enchantments scaled off essence, and usually I only fire off the scaling enchants, or enchanted hammers.
Oppression is again a spell I use only when out of options, its decent, but all the other options are better.
I think the mana cost for city enchants should lie around 20-30, except meditation. If the other enchants would cost 20-25 mana meditation could be 10 mana, or even 15.
I generally think the mana cost is too low, so I can freely change my enchantments once each 3rd turn if I want...
Sincerely
~ Kongdej