, 1875-01-30
TIE cry FINANCES.

ment should satisfy both stles.
----~~-
THE CITY FINANCES.
Tie question Of legislation that will re- |
Hove this city Of its financial entanglonensa
IL rnplly assuming portcntoNs Shape. We
believe tho Legislature OF tito State IL willing I
to do n,lytl,iug, consistent with the Constitu-
lion, TINT ,nay be asked. Unfortunately, |
tltore is not unity of action or practicnl effort
OIL tho rnrt Of those who nro charged With |
the government of thu city, md VIC regret to
Fay tho spirit OF tho Office holder in hostile to
my radical, permanent relief. What are tho |
facts2 They aro certHinly serious:
I. The city l,as bonded debt equal to tho |
amount authorized by law and the Constisu-
tion, and therefore, there can be no money
obtained by sale Of bonds. g The city is
largely in debt for Temporary loans, bearing
heavy rate of interest. .. It's scrip, to con-
tractors md others, is on tho market to nj
n,nonnt known to the Comptroller, but
much larger tim tho public havo my idca.
i. The City Trensnry has comparatively no
money. &. Instead Of cash revenue, derived
from taxes, the city holds, according to Mr.
HAYES confession. certificates Of purchases
ut tax sales amounting to Il million ef dollars,
and. under these certificates, the city to &C.
cure its lien must pay nil State md county
aud other taxes levied on tho sano property
for two years. .. Under City Tux Bill 800
Of the Inst Legislature, no court cnn give
Judgment against delinquent property, a,sl
hence payment Of tRxes OIL real estate IL now
purely voluntary matter, mud owners lnst
year largely availel themselves Of this legal
defect, and will in 1916 do 80 to still greater
extent.
On this ritnl point, 21r. FRAscza ADAMS,
the Assistant Corporation Counsel, whose
special duty it is to combat tho tax-aghtera
and enforce tho payment Of rcal estate taxes,
said III tho meeting Of city officials TINT the
Judgment Of Judge WALLACE was reversed by
the Supreme Court No provision whatover
was made in tho law for sale Of tho delinquent
property when judgment WAS granted. Tho
whole revenue law Was defective iu that re-
spcct. There wRs not word in ELL 500
relatiyo to salc. Neither was there any pro-
vision relntive to due notice Of such aAle
| being given. Collector vow Ho1LEN ex-
pressed himself rs coinciding with tho views
of S1r. ADAMS So did AID, HEATn, who is
| Chairman Of tile Finance Committee.
This is not, therefore, a cheerful prospect.
The Court in 1874 WIS compelled to re-
fuse q Judgment for the contested de-
1inqucnt taxes of 1873, lowed under
the Bill 600. Tho fau]ts and defeots Of
the law ara confessed. The city, however,
hod the option to abandon TINT law, and as
scss tho taxes for 1874 under the general law
| of the State, which is all-suCicicnt, and un-
dor which the property uay Io sold promptly
! for delinquent taxes. With thorough
knowledge that under Bill 400 no Judgment
for taxes could ever be obtained, nad tltat
snles Of property under TINT bill compelled
| the city to pny all other taxes for Stnte aud
county purposes OIL tho same property for
two years, ind that tho city stood in pressing
| need Of all ita current revenue, the city nn~
thorities have b1indly and ohstinotely refused
to avail themselves Of tho privileges Of col
lectiug revenue nnacr tho general law, md
have gone on for tho present year repeating
the abortive process Of Inst year under Bill
t 800.
| Assuming TINT tho city authorities aro in,
telligent men, aud fully aware OF tho effect
of their proceedings, there is no other cx.
PLANTATION of this action save on the hypothesis
that sooner than abolish tho Offices OF City
Tax Commissioner and City Collector, mt
the $4,000 salarios paid to these officers ant
suborlinates, tho city nuthoritios hive sub
jectel the city to tho cost, delay, ernbarrasa
1nent, and disgrace of deeper and more
shameful nnGncial complication. If this
courso be persisted iu, the city ,nny this yea
pay them; it will have to pay million O.
dollars taxes on the delinquent list Of las
ycar, and have possibly two millions Of dclin
auent tax certificates to purchase this year
And ell this to sayo tho places OF a fow office
holders! No thought Of sacrificing them fo
the public good seema to have ever entoret
the economical policy Of tho City Govern
ment.
Tho meeting Of tile public authorities O,
Thursday to talk over thiS matter WIS yer,
unsatisfactory. Mr.. HAYES, tho Comptroller
produced his inevitable bill TINT WAS decline
last your by the Legislature, which propose
to patch tho existing law, and dcals wholly /
specific remedies. It fails to meet tho ger
, eral aud radical defects Of our financial sy.
tenn. Tho Corporation Counsel, Judg
. D1cxE7. suggested that nothing be dono unit
= 1t is known whether tho Supreme Court wi
| sustain or reverse the judgment Of Jude
WALLACE. But AIr. FRANK ADAMS, who hi
0 been the counsel Of tho city III tax cages II
T. years, md whose ability a1ld experience al
r valuable, very clearly pointed out that, eve