New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-04-03
RELIEF ASKED FOR TAXPAYERS.
A PETITION AGAINST THE HIGH RATE OF INTEREST
on UNPAID TAXES.

Mr.. Morrisscy's bill for relief Of taxpayers,
In regard TO scsscnts has passed the Senate ana AZ
emby aud before tho Governor. The bill relative to
taxes has passed the Assembly. The following petition
to the Legislature at the office OF Elliot T. Shepard
in The Tribune Building, awaiting signatures In addition
to those representing s25.ooO,0O0 already obtained
praying for relief the present high rate OF interest
overdue taxes:
Your petitioners desire to call your attention 10 tho
sey ere eIactons, by way Of taxes asses.nehr eA
or,aut Interest thereon which real estate IN this city
IL subjected Tie tax and the assessment Tor IMPROVE
ncnts OF Themselves ~ great ana constant pnisns
real estate properly bear; but these are greatly
augmented by the condition OF the law During me
present period Of depression In prices foreclosure OF
mortgages ard financial distress, the enormous interest
al the Of IL per cent per ahnui hntttn ~ way
of punishment for "A de'ay in payment Of taxes and
assessments on realty IL ruinous unequal, impolltic
Al all times such rate OF interest Ia entirely incoh
.tcnt with the general policy OF the state respect 10
Interest she boIrows all the money she needs at per
centum aud declares void any private contract Wheio
more than pcrcentum is agreed upon In the past:
Ills gigantic rate Of Interest worked IN repeated
instances the forfeiture OF estates by lhhhts anu py
others In embarrassed circumstances besides proving
needless bar 10 ne private sale use Improvement OF
real estate Tho State has vital interest ~ lho pros
pcry Of her citizens should by just aud protecting
laws build no enterprises manufacturing ami CONNER
cal Interests and impose upon them burdens 80
ne~.on no bnspess can thrive IL compelled pay
DIR cent n month for capltal-and lhc present Ia"
effects that nefarious result IN respect TO FUNDS required
In ordinarily prosperous times. tho community viii
nav their taxes promptly rather than to suffer them to
increase by the addition Of interest at the rate OF even
seven per ccntum and when aperod OF great hnhncai
troube sets in and holders OF property are utterly una
Bile raise the necessary money WITH when 70 ds:nfge
their taxes promptly their difficulties ought not 10 Dr
aggravated and ruin added the others, by the suicidal
exoron Of such fearful penalties The pubic hen upon
real makes their collection perccy Ger
tain together with all the expenses OF advertising ana
selling under the lien therefore, the county ana stho
are fully secured and ought rather to be coneen TO re-
snr to their legal remedies To enforce collection IMAM 10
in0ct such eIasperating and unconSclonaDie burdens
Inon the propcrty he followed still by the very process
of ale and Its attending expense 10 the owner we,
therefore, ask that relief may he granted TO the owners
OF realty In this city by the passage OF tho necessary law
10 =, ,-.-. - ., ,,. ,ax.s
and assessments, II paid within SIX months -
S,coud That the Of interest on taxes ana assess
mrnts hereafter be reduced TO seven per centum per