The sun. [volume] (New York [N.Y.]) 1833-1916, 1892-01-05

Neg ST. is 49,, ss {, issued
81! s'S s; ss S is ss
Total fSndsi bsSou,.tsniins Dec ST. 1880 STAG.
s5 ss bee a.
TEMPORARY BONDS
sSnaf se1f' usa yPasr sssa s!
deemed, s2O7 80: outstanding pc". ~ 1881. $4,000
SssS.ssi rHi g SsSs
~ sS Ress s f Dec 81, 1900
: :ss.n s 1s s b.s o ss
sns Be- Be- 81 ,ssS
SEMINARY
SIZE G. g g
:, Net . funded s; debt; sS7s572soo7 s075l54asso
to anticipate taxes. :o7lss,oo a4Goooo
Total............ sVs.o04,4lsO7 SUI. $50 o3s 90
Notwithstanding the fact that bonds to the
extent Of S7.5s2.346.S5 have been issued for
permanent improvements during tho year.
the net debt OF the city shows decrease at the
close Of the year 1891 Of S514.37a30
The rate OF taxation during the year was
but LOO. showing gratifying continuance Of
the low rate which was inauguratcd in 1889.
UNNECESSARY INTEREST CHARGES.
The taxes payable in this city in the autumn
expenses OF the city Government for the year
In which they arc imposed. Tho obligations
which the city is required to meet for its gen-
eral expenditures commence with The month
of January and continue each month there
after. while the moneys to meet such oblga-
tons are not collcctible until the autumn. and
the result is that the city is compelled to pro-
vide itself with funds for the maintenance OF
the city Government and for the payment OF
its annual charges by borrowing large sums OF
money. which approached S2O.OO000O last
year on revenue bonds which are redeemed
when the taxes are collected.
The city should not be compelled under tho
operation of the laws which apply to its finan-
cal administration to become q yearly bor-
rover in the markets to such an extent for its
administrative expenses. In periods Of panic
1t is difficult to secure the funds necessary for
such purposes. The financial affairs are thus
administered at an unnecessary annual charge
by way OF interest.
The operation OF this part OF our financial
system creates burden which should not be
continued. There is 10 good reason why the
existing laws should not be amended to enable
the assessment rolls of the property. real and
personal, subject to taxation to be prepared
30 that the taxes imposed upon the as
sessed valuations may be collected in the
carly part Of the year instead OF ut the close
This would supersede the system Of carrying
on the Government, in its ordinary branches Of
administration. on borrowed money. l have
had prepared q statement which shows that
since the year 1914 the city has paid by way
OF interest on money borrowed in anticipation
OF its annual levy. to carry on it's financial adj
ministration for the first nine months Of each
year. a total Of over $4,000. COO.
WANTED: A HOME RULE AMENDMENT.
deem it my duty to again bring to your at
tention the question OF tho government Of this
city by tho Legislature. Few Of the annual
charges of the city Government are subject to
the discretion Of the local authorities These
charges are to II great extent fixed by mnnda-
tory laws. and all bonds issued by tn. city for
permanent improvements are issued in obedi-
ence to similar laws. The city. therefore in
great extent q members Who have ''I nut littlo
large majority Of such lesis.aio are frequent
" politically hostile to its Government. More
order tho payment Of claims by tho city i which
may have been rejected by the courts or
s prd Says see Of u y a Under
IS Vested with power BY mandatofy net t"
Claims whether the city olilr.ats consider tie
payment OF such CLAIMS advantageous toit
power OF granting valuable, franchises to pri-
waite corporations. such as TIE laying Of pipes;
tho poxef ines anu
In most instances thn private generations
Obtaining snch franchises pay no revenue It, to
protect on q ali departments 81 tho city Gov:
eminent. The city authorities are constantly
estss, of the municipality by the interference
q the owners Of such franchises. Notably Is
our streets and pnvemants. which are liable to
n Sss Fs Il il;
Legislature can only 10 taken away BY u con.
s'it{ntlonni amendment;
IN tho Stat would he advanced by imposing
%n nI each the fun rpsropsibity Of It's own
TO your attention could 10 largely Iemedicd
Without Without removing the -upervision by the Leg
palitlcs Of lie STATE. cnnstitut III ag amend
that hereafter no lay should be enacted by tho
public work or Deal PRO Snau!' at the e tx
Ponseot any city, or, comrelling the payment
such nuiic work and nuke such SUI Il local cal i'm
pfGtysniGms or pay such claims should. by &c
IN the municipal authorities, ' Who should B.
given full discretion to determine whether
arproyns 'f tho inc unSpa' su's sScl
r c"Glts WORK tnsy Or snot the payment Of suel
, the amount required in " Whole Or il il
part iy assessment or Taxation. or by the issu
ing OF ,cty bonds. as the occasion might re
Iuirr, This would leave the Legislature powe
!" control each city as to it's expenditures 70
potiic improvements and at the same tim
expenditures when the same should have beef
hrnroyed by the officials of the city for who's
p"neht or ~ whose interest the expepditur
a further constitutional amendment shoul,
provide that franchises should only be granite,
~ me Legislature in any city in this State 70
!ie use ~ its streets. on the sub-surface unde
,ns streets; or any Of Its property rights. o.
payment OF a reasonable revenue to such city
which should be fixed and determined by til
MrnhG,r municipal authoritiss Thus the cit
granting Of franchises. operating irenuenti
as mnnopolias and gathering revenues Tor pri
Na'e interests from tho people Of the city 1
Which the franchise is granted
OUR HASsEED TAX GRABnEES.
~" ialnstice inflicted upon this city by IN
.,@'r board of Equalization continues. Will
enc cnst n,als Assessors, IN accordance with tEei