New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-06-13

hont, haa ,oar ,,,a,,op made only by such Board,
because estimates had already been mao ny 'no n.'e
| ous Boards and only by the new SysoiH 800 -
| ment and reduction then be made ih"eu"'ov uiv
the propsson becoming public there hroSo III oe' w
| Vs.. ,s,ort and ignorant depunoiation. IL was
,rio,or hecauso Is suspected iobbeTy when inc pan
| .,a ,,nito,ion OF expenditure, and granted power
=, ono par In place Of tho unlimited power u apPi"
r,o,,ou existing in several Independents Boards was
iorapt because averring the provision unconstitutional
d pnrecedonted when the like plan had been ten or
efeen wears in constant existence, and had undergone
the ordeal OF consttuonai chAnonso Nv tno D"i VI WV
| highest state Court.
However the plan has become statutory one, ana tor
two years. A modification of it made before adop
ton because the State taxes for 1871 nd ehargeabo 10
our city and county, escertained since the iii Oh
plan introduced to exceed in amount that for 1871
The rate of fixed taxation will therefore be TWO per cc
on the aforementioned lxed valuation in addition 10
the fractional per cent necessary TO pay INC state lax
excess lust spoken Of The amount of fixed valnaon Is
A07o, 100000 Two per cent on this makes ssi'oVVV'c
The excess OF State tax for 1871 over 1879 Is sO 30
that only 100000 will DO raised this year ny
of which s67n IS will be needed for our piopofon
OF State taxes about six millions for interest about Two
millions and half for education, about three millions
for notice. about million for public charities and cor
recon and another million for fire department. Inc
operation OF the two per cent BILL so far in reducing OK
penses preventing schemes against the treasury ana
arresting throughout every department that tendency
TO which the popularity OF the age even
in private fe has proved perfect answer to the fen-
zed attacks that made upon It, IL was TO be the
Behemoth which would Tample down civic liberty and de-
vastae parks II to enrich all officials coruptthe
schools poison our fountains Of charities and ultimately
place the city in the hands of vigilance commtteel
Considered partisan aspect this limitation of re-
spOnsbillty and taxation by the two per cent bill was
impotc. 1t concentrated responsibility for expendi
fure viii had updeHnaDle
portions by the members of the Legislature the Govern
or the Supervisors, the members Of the Common Cou-
Gil and variety of city officials. Such concentration OF
responsibility OF course holds local party leaders TO
the strictest accountability to the people. 1t was
desired by the people, and 1t had the effect at
least OF depressing Of claims and jobs But the
present was favorable time to initiate or to prae
tce great economy During the last fifteen years the
extravaganza Of Of tie irresponsible departments
and the mistaken economy of others had developed de-
cencies claims, and jobs and had postponed necessary
improvements The consequence has been, that the re-
stored city government found itself legaee OF all such
irresponsible extravaganza and at the same tine rus-
tee developing and at enhanced cost improvements
that in justice to successors and poserty can 10
longer be postponed The Mayor believes that the peO-
pie willing II they available results OF the e1-
penditure, to incur larger debt In order
to improve the water 'front.' repayo streets hhlsh Doe
wards supply defects IN sewage and drainage ana ny
ofwidenihf Cutting and Extending streets adapt
thOrOughares to the future demands OF the great Ahe
can metropolis million of dollars should be used ior
repavng the cobbletoned streets III the districts east
Bowery and south Of Cana.st An equal sum ought TO
be expended for drainage and extending sewer heads
into the river 1t is just that old portions of the city
should have their Croton mains renewed, and obtain
doubled larger supply for water Therefore however
much the people demand economy and however many
OF his Official associates differ from him, the Mayor Is not
willing TO 20 on record without protest in behalf OF
4,ko Of SIGHT n
which many of the taxpayers OF to-day display ana
TO whoso camors the city officials have responded with
economical endeavors Ii twenty millions could be ex-
pended within the next three years, New-York City at
expiration Of that time would be entirely renovated.
And the increased valuation thereby given TO assessabe
property and the additional attractions afforded to trade
and commerce, especially at portions of the city which
have been long neglected would almost immediately
tighten the burden OF taxation by better distributing it,
Cutlery against "plunderers," "jObbers" "hgh taxa
ton" "runous expenditure" etc, has been heard In
NewYor forty years OF the outcry increases
in volume the city expands but any who doubts
the stereotype character of the cry may verify the fact
by consulting the Historical Library cOntnuoafles
OF WORK journals during the period mentioned
FINANCE.
The Comptroller's Report comes down TO the end Of
the fiscal year, December 81 1870 but substantially the
City Finances upon May-day may be summed up thus:
CORPORATION OF THE CITY OF NEwYoRK.
STATE OF THE TREASURY.
Receipts from January to April 80 Sl5r19 45 CT
Deduct amount of Over-draft December 1870 C15 "a
A3534q7O 80
Payments-Warrants drawn ............. u,9f7l53 81
Balance in the Treasury AprIl 80, 1871 s1,e7Os6 40
Dett Of he city.
Funded Debt December 81, 81 067e6 u
Less amount redeemed to April go ISL. Gl412 90
sa7,955,ssl 81
Bonds and Stocks issued to April 80, 1871, as
follows;
Dock Bonds ACKNOWLEDGEMENTS. s5.0o9 90
Central Park Improvement Fund
Ninth NTH i District iSirit' Ccurtiiouso
cfoton Water Main Stock @ 10000 90
Outstanding April 80, 1871. 81
Temporary Debt representing bonds issued TO provide
means for payment of awards for opening streets and
for expense of improving the same. - -
Amount issued to April 60 1871, as follows:
Fgnd BPI Fund bonds 90
'''''' -''f sS9,iO 90
Outstanding lO9lO5OO 90
This deSt is redeema6ic from assessments to be col
lected.
Amount outstanding Dec 81, 67O.......... SOS4COO ID
| These bonds were redeemed January, 15 ISL.
Rerenue Bonds Of 1871.
Amount issued TO April 20 1871, in anticipa- 49,. -.
ton OF the collection OF the taxes for 1871 t774$oo 90
These Bonds payable at stated periods from Oct0
Der l. 1871 January l5 1872 the taxes are collected
Sinking Fund Jo ar tie ISddento1 Of ac city Debt
Capital Of this fund, December 81 rs
Increase since, to April 30, 1o71. 4754lG 81
ss27i.ese %
| Payment, expenses, etc............. S,462 so
| Water Stock redeemed. ............. bl,432 co
- 1884 so
Capital, April 30, sl8,2l5n IS
O. Sinking Fund for Payment Of Interest CITY Debt
| Cash balance 10 credit OF this fund, December
Receipts since, to April 50, H5a Is
SZ57,577 0i
Less payments. 150e9i 81