New-York tribune., 1892-01-06

Part o: the canal debt natures on OCTOBER next,
the remainder October l. 1893. The balance Of
s401 o20 OF, unprovided for. will not have TO be
paid by tax the Controller cs ina,cs. there Is
=, cted TO be surplus in the cnnal fund 10
meet IL. II that prediction be well foundei the din
levied its last tax for the pay nent OF the canal
debt
Ins Niagara Park debi natures at n,, ,hs rate @ OF
state and be paid at any iiue nom the surplus
now In the treasury II the Legsla ure direct. They
draw Interest at the rate of 2 per per annm.
The principal Of the General Fund debt ior indian
annnes' sl22GeA sI Is an mapnary lnaeog'4S, in 4S
sum being annually appropriated by the Legislature
With tits explanation therefore. the state debt
pears to be Practically wiprd Ogt.
This IS n particularly gratifying showing. and very
CrcdtabIe 70 the management Of he states hnanccs
1t could have been accomplished without hdchiy
pulic Interests honesty, and the prudent handng
Of public funds. Ten years ago the state debt Wis
upward OF ~. .O0O,Cc0
SOURCES OF REVENUE.
The larger part Of the states reveuue still comes
from 6hect taxation " personal and real property yet
the rate OF for he current fiscal year Is t" lowest
since 1850 being l 3s mills. Of which mill is for
schools and 3-e Of mill for canal debt and maintc
nance. Upon the present assessed valuation this tax
VIII Weld r5.l9G iot 40.
There is no direct thi. year for tho general ex
pose being expected from the Indirect sources OF
These Indirect tax laws yielded the following sums
during the last fiscal year
From notares' $40 30
Front the pool tax. 80 80, 81
From The coiaerai Inheritance taN ....... 5000 81
fNom The special taN on Organization OF cor 49, ,ac -
The receipts from the lat two tax hws were some,
ax i'm posed BY the last Legislature is expected 10 in
crease largely the Indirect rcyenu
II IL continues 10 he the policy Of the state to widen
the field indr ct taxation the time close az hand
when. with rigid economy in appropriations all III" eN
Of any general state tax. Indirect taN laws ho"
over, should be based upon broad prncples. ana
should be carefully framed ~ u not to unnec',
say OF unvisey hamper individual or corporate cntcr
Prise Radical legislation ia that direction may provo
public injury rather than public Il, se4ehL Gancer m ~,
when taxes least felt the peoples repres
are gcnerous with public money and are lnciIud
toward extravaganza in appropriation. 49,
one method OF increasing the Indirect revenues Cf IN
state namely. that OF taxing the bonded mde't dn G
of corporations has been repeatedly suggested Tor the
consideration OF the Legislature by the Couiroli T. ana
t. tention It is estimated that moderate tax Of his
nature upon each per- ntum OF tn'eo IN ao od@ pd ~om &
rea reaaurV S biil based upon this suggestion passed
the Assembly last year but td in the senae ia .,
the rec corporate legislation Of our State has heen
harsh that corpoaons are being orSanzcd & mho% M
qulrenents, wond organize under our laws. what
real lasis such criticism has, Go not know: our &
The protection of The public, ont NY should
not tend 70 discourage the inyestme,h I,t
our boiders suggest that the Legislature authorize
joint committee Of It's D6.rs to nvriti,e a. IN tss
subject and II possible. vi
laton bearing upon It in ncghbOring state.
RETRENCHMENr
In these times whom Federal and local taxation bears
heavily upon the people tho Legislature should avoid
unnecessary or excessive appropriations Of public money
and demand the strctest eclumy cor+isent with GOOD
administration in the various departments and bnIean'
OF the pablo service. The rlnwtD of the state ieceN
sarly increases the cot it, government. but leS
ton whether the cost has not been increasing OF latc
wears al much more rapid rate than the growth OF
the state would justify At my request have been
furnished by the Controller with statement Of the
,ermanent commissions AID bureaus which have been
established BY the Legislature since lSI together "ith
The annual cost Of their Walntcnancc. The hGures
are YER, slggestve for they indicate very remark
abIe extension Of governmental power and liisdirpn
and an equally remarkable increase In public cXpcndi
lures From the statistic, furnished me present Tor
yoir consideration the following table Of new perrna
nent commissions offices and bureaus established sUcc
| 1870 the year Of their establishment, and the ex.
pendtures on their account during The first year OF
their establishment and during the fiscal year recently
ended