, 1875-08-15


pudiation organ and all its followers.
With the exception Of q few items, the float
ing debt Of the city is due to the non-collec-
ton Of the taxes levied to meet appropria-
tons for the want Of the revenue, the
city has had to give the creditor certificate
payable out of the taxes when collected
The date when this form Of debt begun is
significant. The fiscal year of Chicago be-
gins April /, and ends March 81 in the fol-
lowing year. The appropriations are made
on the Sd Of June, the tax-rate is levied in
September or October, and the tax payable in
December. Until 1872, the ta1-sale for de-
linquent taxes took place in March, so that
the years revenue was collected within the
fiscal year. On the 1st Of April, 1871, the tax
sale for the taxes Of 1870 had not been com-
pleted, but nearly the whole revenue Of that
year was collected before May, 1871. These
taxes were for the year 1870. The Common
Council, in June, 1871, appropriated for the
year beginning April preceding, 4,3o0,-
coo, and a tax Of Is mills WIS required to
produce that revenue. A very large proportion
Of these appropriations had been expended
when, in October, the fire destroyed much of
the taxable property. The Common Council
arbitrarily reduced the rate Of ta1 to 10 mills;
the Legislature thereupon allowed q rebate Of
tax on the destroyed property, and postponed
the time for the collection Of the tax. The
ta1-levy for 1871 Was therefore reduced
S., 400, 900 and rebate Of $500, 900, leaving
total tax-1evy Of g, 300, 900 to meet appro-
priations Of 81, 800, 900. A portion Of this
deficiency was supplied by the money OBJ
tsined from the State for the canal improve
ment, but On the 1st Of April, 1872, there was
due Of uncollected taxes for 1871 and previ-
GUS wears, 81, ,063, GOT, and outstanding and
unpaid bills to the amount of 81, ,1oG,515.
The time for an enforced collection Of
ta1es having been postponed by the Legisla-
ture until after the expiration Of the year for
which they we're levied, leaves the city with
| out any revenue from those taxes. Thus the
| taxes for the support of the city for the year
beginning April l, 1875, and ending March
81, 1876, cannot be collected by sale until
| Sept l, 1876, or .1ire months after tie er-
| 7aration Of tue gear for @tieh th6 ta1es
| ars- kried.. Thus, under our present law,
| the clEY Will uOt AHfe ally Ief6Au6 AOu
the taxes for 1856 until five months after
that year has expired While waiting for
that revenue, it has to ''pay" its current ex-
penses, the interest on the city debt, and
maintain Fire, Police, and School Depart
ments, clean and repair streets and light
them, repair and construct bridges and oper-
ate them, construct sewers, and extend the
water-service, and all the other expenditures
Of city OF $50, 600 inhabitants. How2 By
giving certificates payable out Of the city
taxes actually levied but not collected. The
| Chicago Times declares that such certificates,
| payable out of the taxes when collected, ere
SO unconstitutional, fraudulent, and illegal,
that the courts must be appealed to that their
payment be forbidden, and that paper pro-
poses to maintain" judicial proceedings to
sustain the Illegal and fraudulent character
of the paper. That the people Of this city,
and the repudiators and their organ may sec
how easily these certificates can be paid #
the taxes were only paid, We give the state
ment of what taxes we're due and unpaid on
| the 1st Of April last: