The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-03-31


order of croakers. 1t has always believed
that courage, hopefulness and the spirit OF
enterprise which they foster are the main
spring of success in all prosperous COM
munitics and that no people ever became
great or continued to be great after indulg-
ing in misgivings respecting their destiny.
We have never despaired of the country in
it's darkest hours, and, even in this period
of commercial depression, we entertain no
doubts as TO the ever expanding greatness
of New York city. We suffer now
because the business of the whole country
suffers and the business Of the whole world
suffers. Whenever general prosperity re-
wives the prosperity Of New York will revive
with it. When but little blood circulates in
the veins and arteries but little can pass
through the heart !; but as soon as general
health is restored the heart will again beat
with energy and send full pulsating tide
to the extremities of the system. New
York will always remain the commercial
heart Of the continent and one OF
the great centres of exchanges OF
the whole world. When the country
again becomes prosperous. and when Eng
land, Germany and other depressed foreign
countries with which we have hitherto had
a large trade once more become prosperous,
New York, as the great centre OF our foreign
and domestic trade, will take fresh and
vigorous start in a new march toward its
magnificent destiny. We are as sure of this
as we can be Of anything.
But, notwithstanding this strong conf
dence in the majestic future of the city, we
have keen and anxious appreciation of the
obstacles which stand in our way, and which
the present stagnation of business tends to
magnify. If the city overestimates them
now it absurdly moderated them while our
trade was flowing in full channels. tits one
OF the compensations which attend misfor-
tune that we are brought to u full sense Of
how much we need to rectify in order to
reap the advantages of our unequalled stu
alton. In failing health we learn which are
our weak organs The three or four years of
adversely under which we still suffer have
taught us the Indispensable necessity
of certain reforms. But the reforms which
attract most attention are not the ones which
are really most important. The public mind
has been strongly fixed on the diversion Of
the grain trade to rival cities in consequence
of the exorbitant charges for handling and
transshipment here. This complaint is
real but we wish that oil our errors could
be as easily corrected as this one. Another
great impeachment to our prosperity is our
wasteful municipal expenditures and enor-
nous taxes. 1t will not be very difficult to
apply remedy to this evil. It will be
pretty effectually cured if the people of
the State shall ratify the excellent constitu-
tional amendments recommended by the
Constitutional Commission, which were SO
strongly Endorsed by the Chamber of Com
MERGE ut it's meeting on Thursday. But
there is another evil-a more gigantic and
wither ng evil than either of these which
saps the very foundations of our prosperity,
and which can be remedied only by con-
quering vast mass of traditional prejudice.
We refer to our utterly prcposterous tax
laws, which are steadily driving commercial
capital out of the city. The very life of the
city is the active capital employed here
rs the foundation of various kinds OF
business which extend their notifications
to every part of the country. Our utterly
absurd tax laws are steadily driving bust.
ness out of the State into New Jersey, Con.
necticut and other neighboring States and
depressing the value of real estate in every
part of this island. Our tax laws are be.
hind the age. They were passed more than
fifty years ago, when agriculture was the
chief interest of the State, and they are alb
surdly out of relation with the present con.
dition of things when commerce has be-
come the main pillar of our prosperity.
A very able pamphlet which has just beer
published by Tax Commissioner Andrews
goes to the pith Of this great subject and
deserves the thoughtful attention of every
resident of the city and every inhabitant o
the State. Perhaps no citizen of the Stat,
is so we'll qualified to discuss this impor
tant subject as Mr.. Andrews. Many years
ago he was one of the most important jour
nalsts of the city. When he retired from
journalism he purchased large farm il
Otsego county and was Immediately elected
to the State Senate, OF which he was q yer,
distinguished member. For the last sever
or eight years he has been one of the Ia
Commissioners OF the city, and Ia
probably more intelligent appreciation
of the operation of our Tux system
than any other man among us. Hi
pamphlet shows with remarkable clearnes
that our preposterous tax laws are drivin
capital out of the city and cutting tn
hercnce to system which was suited onl
to an agricultural community, and whic
the growth of commerce has rendered oil
solete. Unless this absurd system is re
| ,.in1d thnrn will be n lnnr farewell To oil ON