New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-01-05

- hitherto bee. AssctsA principally. II not indeed
eYclu,ye,y 10 that portion Of che indebtedness which
has aa,umec he form of one other Of the various
oriptions of bonds and stocks issued by the CITY, Inc
information furnished BY the Controller is 70 tho
effect that th class Of indebtedness was, on the sss
day of December, 1874. as follows
Funded debt ..t
Fund ....,............& ga ,563 50 =.
Payable from taxa,ion... 95,sos,ss3 ss-sils2,soT u
Paysbis from assessments s2o,s 900 90
| Payable from Building Lien s,Too 10 2o,sa'oo 70
PAYABLE from taxation Of Is7i........ 27o7,5oo 90
Nn,8Os75s 90
ross e;,rI,o Pund .-... 26,6l5773 90
sll5,1s79sO 90
Pm, IN addition 10 tbess amounts there is floating
| debt which has been varlousy estimated at from
to s2ooOoo Many OF the claims constituting
this Indebtedness are in litigation. Sonnet may pe
many OF hem-are fraudulent and all such must DO te
sisted Those however, which are not fraudulent ouR"
to DO paid II the proper officers OF the Government
are now without authority to adjust and settle sucn
claims. II ought to be conferred All information which
can be obtained in reference TO this floating ndeDed
| ness, shall direct TO be communicated to you
| FINANCIAL CONDITION TO DE UNDERSTOOD.
Tho time has arrived when, In my Judgment 'ho NC
tual financial condition OF the city should be henutey
| a,certaincd and published In detail The ta1-payerS
| should ~
this subject and without such information II VIII DC i
po,sbe TO devise or carry out any practical measures
| OF efrectual relief.
Our revenues for the ordinary purposes OF the govern
n,ent of the city from two sources FIRST taxation
and second what Is known as the General Fund-tho
latter being fund made Of all other moneys received
by tho city not set apart by law TO increase the sinking
| Fund The largest amount received from the denerh
| Fund IN any year has been 100000. our eA-
| penditures are determined by the appropriations
| made by the Board OF Estimate and Apporhonment
acting in concert with the Common Council Appropra-
lions are made annually "Of amounts required 10 pay
the expenses Of conducting the puble business OF the
cjty and county in each Department and branch
thereof, ana also OF the Board OF Educaton." The
amounts so appropriated after deducting the General
Fund are declared BIZ law to be the sums to be raj
annually by taxation; and In imposing this tax tue
superyisors arc authorized and required "to levy In
addition to the aggregate amount thereof, snch sums
not exceeding three per cent OF 1.-THE sald aggregate
amount to provide for deficiencies In the actua pio
duct of the amount imposed and levied"
While the entire amount OF tho sums appropriated ~
expended purposes requirements OF the yehr
for by transfer OF any surplus TO meet other expend
tures It may be- succeeding years., there arc de-
dcjences OF every to meet these expend-
tures For instance for 1874 the entire appropriations
amounted to TO- to provide for which there
were First the revenues Of the General Fund.- amount
ing to sCOOOOO and, second, taxation, amounting TO
| s31 s22 SOL TO- The sum added by the Supervisors
| TO meet deficiencies was si9O,i25 IS, making n
total of sS23l3sls % to be raised by taxation.
For the year 1874 spent, will spend, the entire
appropriation Of $is12S9l 70. TIE General Fund may
contribute Its proportion OF the
but the revenue from taxation WILL it has for some
years past fall short the taxes are not payable ana
are never collected until the Fall of the year. For tile
first nine months the Government Is carried on upon
borrowed money-borrowed upon revenue bonds in an
49, ha ha 70 70
collected the bonds pad the entire issue
OF these bonds any year. paid up either before
the close OF the year which they Issued or 10 the
| frst months OF the ensuing year.
| TAXES IN ARREARS.
Ihave ascertaned that Tor several years past the IN
collected taxes from personal property have amounted
annually TO about 81 100000 This is irreeoyerably os
TO the city, provision has been made so far as
know to provide otherwise than have explained FOL
that loss The levied aud which are collected are
never received within the year for which they are %
posed; and frequently term OF years Is allowed tc
pass before particular paid; tho delay allowed
v law extensively taken advantage Of the only pen
atty being an Increase Of interest upon the taxes IN at
| rears With our expenditures ahnu'"y eAcoou
| ing our income SGT apart by Ia" 10 NEE
| them, confusion in our finances ~ ine'i'aoi0
| and no skill in management can extricatS suoi
| n svstem from that confusion. The systeS
mnst be changed 10 secure Improvement In results
In no official report which have seen has any Dforna
ton laid before tho public showing inc extent TO
are lrposed, the average period wtDln Wnlcn the
paid Tho periodical reports OF the financial
ocers of the city shOu give the particulars, nearly
as can be asceraned, Of ali unpaid taxes aud assess
inents at tue of such reports with all other nor-
| nation which would go to present, as clearly
as possible, statement Of the real financial posi-,
| tion of the city-its debts on the one hand and
| me outstanding claims due to it the other-that
inc public may able to judge as each successive state
mani apoears whether Improvement has been made
in r m noes tho date OF tho statement preced-
formation preparatiop at as early date as pos
siole, OF balance sheet showing tne nnancs position
OF tue city at the close OF the past year anu shall
heartily cooperate with you In whatever measures may
| be necessary to procure such BALANCE sheet'
| MUNICIPAL EXPENDITURES.
The appropriations for the year 1875, as finally deter
mined by the Board OF Estimate and Apportionment,
amount to s36955i72 %. This amount together with
the sum to be hereafter fixed by the Board OF Superv
sors to provide for deficiencies less credit OF 900
carried from the General Fund will be imposed by tax
during the year upon the real and personal estate Of the
civ and county subject to taxation. The tax for tho
wear will DO about three per cent upon the assessed
value of all taxable property In this final estimate OF
| $50 956,472 % there has been appropriated for
Common schools Tor tne State AS SO
Payment Of stocks and bonds falling due, &c i6J 50
! Foarth-aye. ACKNOWLEDGEMENTS. 1,59sI61 90
Hor total Of s2ii9i,slI 50, leaving balance OF
| $l5764,650 40.
really no CONTROL The acts OF the Legislature, under
which the appropriations covered by the amount are
required TO be made are mandatory, and the Board
! OF Estimate and Apportionment was q mere lnin-
Tbo balance Of siS1SiS5o 10 includes appropria
Co 56t9jI These salaries dvisble Unto two classes
those fixed ny of the Legislature which the city
! authorities cannot regulate-And those fixed by the
ads Departments within the limit OF the amounts