The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-04-19

may be speedily arrived at let us all earnestly
pray. Meanwhile, between the fight and the
conventions, quiet people in the metropolis
enjoy temporary immunity from certain chronic
sores and terrible nuisances. 1t Is an i'll wind
that blows nobody good.
INCREASE OF THE CITY DEBT GROWTH OF THE
CrrY REvENUEs-NEw ISSUE OF CRY STOCKs.-
The regular tax levy this year is about nine
millions. In addition to this the special bills
passed by the Legislature will call for the Gre
alton of city debt 70 be issued Is stock, to
the amount of eight millions one hundred
thousand dollars. This stock will be for
arrears of old accounts, chiefly under the late
Comptroller Flagg, to be issued as the FLOATING
Fund Debt Stock" three millions; Central Park
improvement, two millions five hundred thou
sand Croton water works extension, one nail
lion new City Hall, one million; West Wash
ipgton Market claim, six hundred thousand
dollars. Adding to this the amount of assess
ments for street improvements which will
probably be assessed, fer street paving, opening
and other charges, the entire outlay contem-
plated this year would probably reach from
twenty to twenty-three millions of dollars to
be levied upon the real estate of the city. As
ABORTION of this is suspended in stock, its pay
ment will not become due for some years It is
also to be considered that under the improved
management of the city property, the sources Of
revenue have materially increased, and that in a
degree which will promptly meet, and even
forestall the liabilities of the city for the i'm
provements now contemplated. The forth
coming report of the Comptroller will exhibit
an enhancement Of the city revenues, from rents,
leases and other sources, greatly in advance of
any previous returns The valuation Of pro-
perty for the past two years has been enhanced
some twenty millions annually. The returns
from water rents, pier leases, &c., exhibit
proportionate growth. So that bad as the
management Of our Legislators may be at both
ends Of the river, they have IS yet made no
serious breach in the ample wealth or credit
of our city. But the questions come up: How
long can we stand the constantly increasing
load when will the last straw be placed on
the camel's back? The metropolis, thus far,
has been perfect placer to the grasping lobby
of the City Hall. Now the corrupt lobby of
Albany have put in their huge paw.
FINANCIAL RESULTS TO THE CRY OF ALBANY
LEG1s1ArIoN.-Ourg ridiron Solons Of the State
capital have, in their late extraordinary ses-
sion, contrived to saddle the city Of New York
with heavy increase Of debt. In the fulness
of their iberality they have passed bills in the
Legislature authorizing the Croton Aqueduct
Board to expend million Of dollars on i'm
provements. To the Commissioners of the
Central Park they have given similar authority
to lay out sum Of two millions and half;
and for the completion Of the City Hall they
have set apart one million Of dollars. They
have also ordered the sale Of West Washington
market, which will involve six hundred thou
sand dollars, and, by increasing the expenses of
the State, have added to the taxation of the
city for State purposes about quarter of .
million more. These are the bulk of the big
jobs perpetrated by the Legislature, by which
the debt of the city will be materially increased
as these new appropriations must be added to
the fifteen millions of debt now existing. The
following brief table will, at glance, show
the increase of city debt here alluded to:-
Present debt. .$l6 600 goo
Aooiuonai DEBT. b,SSO,eO0
$zVoeV,oVS
Thus We go. 1t must be admitted that
some of these improvements, if properly
carried out, will be Of great advan-
tage to the city, especially those of
the Central Park, the Croton aqueduct, and, or
namentally, perhaps, the City Hall. This is all
very fine; but it is, nevertheless, very grave
question to be considered whether, il the me.
tropolis were in the position of an Individual,
such overtrading and extravagant expansion
would not be of incalculable damage in . sea-
son of panic like 1857.
The STATE TAX INCREASED AGAM.-One of
the browning infamies committed by the Al
bany buccaneers, and part of the fixed plan
to plumber the metropolis, was the increase of
the State tax, which now amounts to three and
three-quarters mills on every dollar of assessed
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