New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-01-08

on bonds belonging to the city in The sinking fund,
and which Will be added to that fund and applied to the
payment Of the permanent debt of the city no,
Notwithstanding the above evidence OF graduaI
diminuton Of expenditure, think economy can ne
pushed much further in that direction. without impair
ing the efficacy Of the City Government
CONDITION OF THE PUBLIC DEBT.
The amount of the public indebtedness is always
matter of interest The last report Of the controller
shows that the debt Of the city is as follows
ana Deceiabcg 81. 1917.
Dec 81. 1916. Dec 81, 1877.
Funded debt, payable from
taxation and The sinking 80 90, o., o., s,,, ,.o 100 =
Deduct bonds already pur.
S chased .s end no" Of aed , Ss
s Ghas1 I"ad.. -" 2s9oe247 40 9c8ooo7 81
Ne, permanent debt, e.. sei,3SSOG5 IS s9laGoI25 81
@ g IN pa: s a.. sss sG ssSs? SO 50
Reyenge 6ouds is76...... 5,0Ol,j00 90 5e9eo, m oo
Revenue bonds ls77..... ............ ooioooO w
ro,., .eii9.sIi8iO 80 sII7741o5o 90
THE mast wear ns77) viii he memorable hope as the
bening of a new epoch ~ the financial history OF our
City Government. For iwsniy years previous our city
doh. had beeu steadily increasing. From an indebted
ness of about 81 100000 on December u! o25 al e
niroin OF len wears, namely December 81 1867, the
anonnt had increased 70 S32914,42l 90 This coVere9
the period Of me war dn n 5mV ye a6ed TO M de
From ls67S may be dated ne accession OF en-, co,
administration known aS the Ring 10 luai coiilo.'
This dyrasty oniiuned in power for nearly i've years
nni $50 During which period the aggregate dent OF
Pee Pee 81 s7 $685. s2 f So 90
bee bee 81, 1875. 75575552 %
Then followed an almost entire change Of admnistra
ton and many sincere efforts 10 economic eXpGnuitc
apd dim niSh the increase OF the pubic oeot. i" S'n
efforts were only a limited decree success ~ as
following table of It's increase rom 1915 10 IS'o VIII
show . 80. o.,
81 3 n Dec 81 is 3 g
T,,ric the wear 1877 the bonded debt Of ne as
Il
'Th rrduc ton q more than S2O0O0DO rom i'e Utnt %
1876 is mainly attributable e. the careiui ana ecoho-
cal lparagt1n, mt Of our city finances. . A..
TGc new issues OF bonds made during the year ]us'
cidscd we're only such we're made COMPULSORY GI gA
zinc law passed prior 70 January !, ISL, excepting
small amount C',999 so passed in 1917, ana were ioE
The following purposes; - o- .,
P.iic w0fi CIcou Water Works. s2c S$5 ~
Doces and $500, M
Thri 2isi Cont House, eso95 GO
H,,sfi Of XII ard Natural HistoTg. 25G59o GO
Judgment ana ia cI armoIics ana schools &
Thfdayc O0rSsus) inlToyt inent.---'.. =llv5,00 9
New County Court ouse "'...'.''' 2Sg ~
This is exclusive Of reissues, and OF temporary revenue
bouds issued in anticipation Of taxes Ta ii'i iss9e Oh
city bonds pee c"1t bonds made payable III ron
tlriy 10 tfty years "n'' were """'"e" ~ 'o' p'' "
rnK SINKING FUND.
Ifflitlel issues OF bonds Tor publc IMPROVEMENTS
could he stopped t- accumuations IN tn" sinking tUnu
vouli soon relieve OF th' burthen Of dch MAJ" o!
tic jcc,s Tor which new honds are dreGeh to ne Is
self o. tic opinion mat the Le~S G''h1 s-"uu TO-
authoil1r al} "onlil1., p lli ~ m nv minds are
issued during he nest egbleen or wediy YEAR" eTtt
the Jrbt De Ininiancd N il present utiln, before
HE rxp;rati0n Of that period The sinking ld VIII reach
an amour; larger than the entire CITY drhi.
4 WRONG SYSTEM OF TAXATION.
For many wears past think orr system Of taxation
ardcxpcndiiares hss been radically wrong Ia January
we find Il necessary borrow money ior lhe current
cxreuses OF the city, and to contnae the practice until