, 1876-03-20

It is pretty ovidert that o majority Of tho
Common Council havo not tho slightest con-
corn, md seemingly not tho rnmotest kno7l-
edge, Of tho calamity in tho city finances
which is inevitable, aud which may take de-
cided form ut any moment. Tho Council
acts In such manner as to leave tho impress |
sion that tho Mayor md Council aro pro- |
found1y ignorant Of tho actual fiscal eitua-
ton. They go On appropriating two million
and moro for galarios nlono, and they do not
soe1n to bo awaro TINT thore is no money
with which To pny those salarlcs, md nouc to
be had, now or hereafter. Tho city has to
pay, by tho 1st Of July, $4,0e5,Gso Of loan
certificates. The city has no money, aud will
have no money, with which to pny these
Tho most tho Comptroller can hopo to nc
complish is to havo these ronowcd; TINT is,
oxtanded q few months. Tho city has in ad~
dition to pay, July l, 94G6, 600 intorest on
tho bonded debt, and its current pay-ro1ls to
July will bo 81, zoe, 900. For theso thcro is
no money. To meet them, tho Comptroller
will hnve to issue moro certificates Of debt
and borrow money. Will he bo able to do
so7 Borrowing money Ia nos payment. It
is only postponing tho day Of reckoning and
catastrophe.
The city had on tho 1st Of January d NOM
ina1 arrny Of S8,252, 1o0 unpaid taxes. OF
these, tho nnto-fIro taxes, amounting to $780,
GOO, may bo considered as lost. Since then,
about s1,0o0,0 900 OF tho tax has been col
1eototl. This would reduco the assota to
so, 750, 900, of which e9oo. 900 nro for personal
taxes running back to 1879. Though tho city
has tho machinery Of Collectors Office, no
effort is made to collect these taxes, and per-
haps 800, 900 OF them will bo lost through
tho imbocility Of the Collector, who ia said to
bo again candidate for recollection. This re-
duces the array at uncollccted taxes to tho
sc ,0O0, ,0o0 duo on real property, including
ta1es of 1876. OF these over $1,10o, 900 of
taxos Of 1874 Is tied up in an appeal To tho
Supreme Court. Though tho only source Of
revenue IL these back md upaid taxes, no Of
fective effort is being made to collect any Of
them. Imbecility rules.
Tho city holds 5000, 900 Of tax-snlo cor
tiNcntes. Why ars not these put on the mar
ket? Why aro not the delinqucnta offered tho
certificates In exchange for tho oyer-duo
tarcs? Why arc they not in somo wny COL
vertod into cash Tho city tax salo OF real
estate fos taxes Of 1876 will not coma oil uu-
til next September. The tax sale has no
tcrrors now for any delinquent. Tho law en-
couragos the non-paynent Of taxes. 1t Is
truo there may be voluntary payment Of
taxes betwoon now and August; but II all the
real estate taxes Of 1876 were now pnil into
tho Treasury, tho amount would not aatisfy
by over million the paper which will be
then due. What then? How Is tho city to
bo supported from July, 1876. until August,
1877, when tho taxes Of 1877 will bs pnJ-
ablo7
But tho ta1es of 1875 will not DO paid by
Jnly next. Tho maturing city piper will not
be paid. Creditors may bo compelled to 70.
nowi t, but 1t, together with tho millions Of
other paper to bo Issued in tho meantime foz
tho support Of the city, will full duo III De
ceuber, and what then? Instead Of $5,0 ,0o0,-
COO thers will bo $4,000, 600. and no moro
means to pny any part OF 1t than there Ia
now. Yet tho Mayor and Council do mol
understand that thoro is anything tho matse'
with tho city anaucos.
} Another Democratic Presidential hspIrant
! the most prominent Of them oil, HENDRICKS
} III well on the way 10 Join GEonax H. Pm