New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-12-26


every year in January the money to be raised oy
tax in October, giving due-bills in the shape OF
Revenue Bonds, bearing interest, thouga tue IN
terest is said to be more than made up oy the
taxstion upon taxes no; paid within sPeclaed
time Again, large sums OF money are borrower
on what are called ASSIGNMENT bonds 10 pay ior
street opening, sewers, &c. which money uitl-
mstely comes back to the Treasury from the as
sessments made upon the property benefited.
Other accounts are opened for borrowing from
the Treasury TO pay the interest on these assess
ment debts, thus making confusion worse con-
founded. Now we have to calculate the amount
Of these various debts, the interest, the receipts
from Fixed and variable sources. the probable
amount of street work, and the probable money
coming in from assessments collected, add, SUD-
tract. and arrive a.-what Why, the very
starting point in a simple account; VIZ; How
much do we now owe; what means have we 10
pay il: how much do we need for the year and
where is it to be obtained At this point we must
call UPON the heads of departments to send 10 their
estimates of receipts aDdexpendi,ures' and having
deducted the first from the last, We begin TO get
a climmering of the real amount TO be assessed
st large upon the City, as the tax for the year
Having taken in DEFICIENCIES from the previous
year. and allowed for deficiencies in the receipts
of the sinking fund for the payment OF interest
Oh a dozen permanent debts, we cipher out the
balance and send it to the Tax Commissioners,
whe levy il in three separate assessments called
County Lamp and Street" County aud
Lamp" and County Districts.
By the terms of the Charter, the Controller Is
required to furnish, for general information OF the
citizens at least two months before election each
year, detailed statement Of the receipts and
expenditures of the Corporation for the year.
chiefly to show how much money is wanted by
tax. The condition in which this statement Is
put forth we have endeavOred to explain. By
the footipes of the condensed tables, say last
year the expenditures of the Treasury appeared
be over 81, 600, coo for that year alone, while
the other side Of the account is headed "Appro-
"priations." making no distinction between
money borrowed and that raised by tax. This
is exclusive of the Sinking Fund Account, which
deals only with permanent debt and the interest
thereon. True, one may, if tolerably good at
figures, work out from the text of the report
just how much money the people are to raise
within the twelve. month, and what for but not
one in hundred will take the trouble, if he has
the capacity TO do so.
Now, why not consolidate all these intricate
tables into one plain statement, since the Finance
Department must practically do so, in order to
balance any one account 7 The fact is simple
enough: The City owes now 30 much; the years
interest, and principal due, if any, will call for
certain sum; one executive department for so
much, another so much, &C., making in the sg-
gregate say twenty millions. Deduct debt not
coming due this year, and receipts from all
sources except taxation, and the balance re-
quired is what the people are called upon to
raise under general assessment. The details may
chow as much Of the science Of book keeping as
fancy may dictate; but let us have, at least, a
simple ineligible balance sheet that the people
can see through without difficulty and without
mistake.