The New York herald., 1874-12-13
City Debt and Taxation-where Dc

the Money Go?
The Tweed regime robbed the city of New
York of ON amount Of money roughly esti-
mated at twenty million dollars. Whatever
the sum may have been, more or less, it was
taken from the city treasury before the pres
ent municipal government came into power.
1t was part Of the public debt before Comp
roller Green succeeded to the management
Of the city finances. Since that time we have
right to believe that no fraudulent claim has
been paid by the city and no money belong
ing TO the people has been stolen. Indeed,
the enormous expenditures of the Finance
Department we are told, have been due to
the large clerical and detective force necessary
to investigate claims and protect the people
against any further payment of dishonest bills.
We find in the Comptroller's financial state
ments that the sum OF eight million
dollars Of the debt incurred since 1871
is chargeable to the Tweed administration );
but this must have been justly due, or it
would not have been paid by Mr.. Green. We
owe about forty-four million dollars more
now than we owed on January l., 1872. As
We have paid off about six millions Of indebt-
edness in the last three years the increase of
the public debt in that period has actually
been some fifty million dollars. Deduct
ing the eight million dollars alleged to have
been paid on liabilities incurred prior to Sep
tember, 1871, and we find tha: the increase
chargeable to our present financial manage
ment is about forty-two million dollars.
What have we got to show for this
amount of money! How has it been
spent? Have we got rapid transit new
docks, and bridges over the East River?
Have the fine improvements in the upper part
Of the island been pushed vigorously forward
to completion? Have our wretched pave
ments been replaced by good roads9 Has
the new County Court House been finished
Has any great public work been un-
dertaken in the interest Of the prop
erty owners to enhance the value Of real
estate and revive the Market or in the inter-
est Of the great mass Of the people to afford
them increased accommodations and home
comforts? In Paris the government incurred
q debt Of two hundred and forty-eight million
dollars but for that amount old Paris was
swept away and new Paris. with its magnif-
cent boulevards and splendid public buildings,
rose in it's place. In Paris the government
now asks new loan of ffty-two million dol
lars but for that it will rebuild the Hotel de
Vile and other public edifces swept away by
war and incendiarism, and will complete the
system of improvement interrupted FIVE years
ago. New York has incurred fifty mill
ion dollars of debt in three years and has
nothing to show for it except overpaid depart
ments swarming with political vermin, vexa-
tious and costly litigation, financial muddle
and confusion, dilapidsted Streets neglected
public works, stagnation and general dry rot
Mr.. Wickham will take Office in eighteen
days from to-day, and the first act of the new
Mayor should be TO lay bare before the
people Of New York their exact financial
condition. and to insist upon the adop-
ton Of sound financial policy in place
of the charlatanism Of which we have been
the victims for the past three years. We
should know exactly how much we owe OF are
alleged to owe, down to the last dollar
claimed to be due from the city TO any in
dividual on any account. We should know
the precise condition of the sinking fund &C.
curities and Of the bonded debt, and the
people should be allowed to decide what they
are going to do about them. At present we
are pushing an immense ball Of debt before us,
which will go on increasing in size until i,
! rolls hack and crushes us. At the same time