New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-07-08
PENNSYLVANIA.
PENNSYLVANIA.
i'll ApFLPHIA FINANCES-ALMOST As BADLY IN
DEBT AS NEW-YORK.
proy, Ths Public LeI7sr Of the -h

Prom The Public Leig,r Of the III
Yesterday the Mayor sent his annual mes mes,
-rc 10 Councils II refers in the main 10 the financial
5ifnTes taxation and the amounts Appropriated for
Ire maintenance of the several departments some
oeT topics o are referred TO- but the ABOVE "e '
The funded debt Of the city on the LIST Of January,
III, S44.6j4229, and the unfunded or n0anng was
mailing the ageste s CITY Fr 6gpt boe &er
vas 10 deducted S246sSO Of cash in the treasury,
&C., leaving the net indebtedness S4o26 This it
must De observed was six months ago. In the mean
lime a number Of new loans have been authorized the
1gregatc Of which We have not before us The most
amounted To s2622OOO Quite a number Of loans author
lied On former years are also subject to sale as necessity
ellis for the proceeds. surely there should be come
limit put upon this unwise business.
There is another feature Of municipal admnistra
u the Messagc, and very properly So On the 5lst OF
December 1870, the outstanding warrants" in the
amounted TO S,l4oss6 G1 This is most dscreditabe.
rue whole Of this vast amount was due for services
rendered 10 the city by persons In the public employ
for labor done materials furnished on public
works. or for some other equivalent given TO the CT
the citys creditors their claims theoretically sup
posed 10 be paid But they are not paid as the holders
they demand the cash at the counter Of the city trea
10 wait, II they in condition 10 do CO., and II they
cannot wait then they must 90 and get their warrants
school teachers urymen contractors, and all who trust
tie city are subjected TO double wrong first in the delay
Of the payment OF their wages, salaries or other
bills, and second In losing considerable portion
OF their Just dues by discount. This Is bad
enough OF ITSELF but In addition 10 the injustice II dis
the city to have the warrants on its Treasury
about the streets like the paper OF an tnsOlyent
20 also in its train still further evil for this fail
-r. Iay promptly-ths loss by discounting the war
I.n.-- made the pretext by some contractors for
- - the city eXOrbitant prices 10 cover the loss
ume OF these dishOnOred obligations OF the city
as gone on increasing ut an alarming Nine years
agO II Was thought 10 be very discreditabe 10 have
S34OO Of them outstanding az the close OF the year.
That was during war times too. But familiarity with
ths species Of dscedt has lessened the repugnance 10
thug 10 have two, three, four millions outstanding at
the close Of each year. This continues 10 occur nOtWh
standing the fact that large additions TO the minded
debt city have been made for the purpose
OF having arrears Of outstanding warrants In former
years Ii is no thing for this journal To point out
the growth OF these evils 10 the public and to advise
councils that they are drifting the city upon irremedl
be difficulties. Year after year, as the report
OF the City Controller has appeared, con
tanning the annual statement and estimates or re
epts and expenditures, upon which the tax levy Il
faithfully and laboriously analysed In these columns
d IL has been demonstrated either that the expend
'rc- would have 20 be reduced within the citys IN
come, or that the tax rate would have TO d.
... sed TO meet the appropriations, or that
must in the end be overwhelmed by debt.
but year after year the same old reckless sys,
If al appropriating money than the tax levy and
a Ot.cr Income would has been carried on until
tgc city now owes $4,000 900, and many more millions
are demanded Last year full 30 per cent OF all the
money raised by taxation absorbed In the payment
OF tho Interest on the city debt As matters now
going IL will soon absorb per cent Of the taxes.
And still the burdened and complaining taxpayer and
waiting for unworthy or incompetent COuncimen igno-
or fathless members OF the legislature and nOtOrl
onsy unit and profigate candidates for city ohces,
the leadership OF two or three dozen men, VINO 90
et care how high the taxes and the debt are piled upon
Others so that they secure thelf Gus anu '"eH
tens OF thousands annually out OF the Pile