New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-09-04
THE CITY DEBT.
A SMALL AFFAIR AFTER ALL.
Ia Ia Edifor of Ths TribNnc.


To the Editor OF The Tribune.
SIR: Your article of Aug. IL, in relation TO
the policy of the Controller of the City OF New-iorH
has doubt been carefully read and commented upon
10y many Of our largest tax payers ana the mNori'! Vi
them must reach the conclusion that have that
the writer matter how able in many lines OF >nvest-
CATION has only IA slight acquaintance with the financial
ar.irs of our city The municipal debt must naturally
Increase from which readily be explained nut
its present net amount and above all cash assets
taken in the manner that Messrs stewart CElnn'
or hnrbcr would take NenOry OF STOCK amounts 10
800 600 900 or $4,000 900 at the most and for this
amount we can offset parks, our lands, our Croton
wafer our docks our ferry franchise, and many other
millions Of industrial property belonging to the Inunic
pay Then how is 1t that since 1871 the debt Of the
city has Increased, as you state, $27,OoOOOOf Simply
from the fact that score Of uncXccued laws, besides
millions Of claims, on record in 1871 signed by the
Governor of the state that required fualment and the
similar laws has not ceased but at each session
of the Legislature since al laws requiring the issue OF
bonds for this ornamental purpose that at the expense
OF payers have been presented ana passed. is
necessary for enueat any OF the larger ones hat
have thus been placed record Has THE TkBUNEno
recollection of the three millions Jr Rver,ue farK the
two and half millions foI the widening OF BroaWay the
half million for LexingtOn-aye and several millions LOT
Central Park, docks water, street openings ana Improve
meDs and many other works TOO numerous for me at
this time to collate. but which can be readily reachrdf
But let pass from this subject to meet one more a-
rectly connected with your article OF Aug ~ you ue-
nand that all expenditures no mat er for what purpose
shall be paid from annual taxes Wond you IKE TO- nave
the assessment recently presented Tor sewer ia the
street i'm which reside paid from taNesi or would you
not prefer that the city should advance the pay Tor the
sewer and tie property benefited be assessed for the
same and returned usual in sIch eases, to the Treas
ury2 DO YOU not think IL fragrant wrong that TINS
present generation should be the only one taxed ior
State Capitol, costing some twelve millions OF dWats
and which is presumed, will last Tor centuries WoGd
VJu not have thought it ia grant that the tax
ayer OF s37 and 1910 should have borne the entire cost
OF bringing the crystal (rOon to our doors when Is
worth to Ils rs city ten times It's outlay ami when mas
paid investment tour times lts oiighh eost
trus that few simple of the kind have here men,
,onrd is all you require for change OF Opinion as &C
cOrdng your logic the entire cost vi the lana Tor Sea
Park soud have been raised in the Tax Levy OF 1871
10 conclude no Ike that you recommend has ever
been pursu al, is likely to be Ill tie fntulc our
National Government, TO which you refer Is no criterion
Tor State much less municipality or we should never
have psscssed an Erie Canal or CrOtOn Aqueduct That
the Contro Ter OF the City Of has had no Voice
i'm the matter debating course for the laying OI taxes
to meet Extraordinary expenses that special
shold e raised by the bonds seems unnecessary
10 note as lie neither member nor eXOhrl0 member
of either House the IL gislatuIe III has grOWD 80 com
mon however, 10 lay every Issue OF bonds Odereh ny
special law at his DOORS that well meaning ezes
have been led to believe thai lie is not only Controller OF
The city but Governor Senator, and Assemhyman III
addition. A ClILbN Vi NJ Milan VIII
Acr- York. Aug. 81, 1879