The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1892-03-26
SATURDAY, MARCH 90.
Comptroller Hough's Report.

. ~
Yesterday we printed in full all the
principal statements from the annual
report of Comptroller George r.
Hough. To those who took the
trouble to analyze them they afforded
conclusive proof of the comparatively
excellent condition of the city's fin
ances. 1t is true, as Allan l.. McDer-
mott says, that there is a serious load
on the taxpayers shoulders in the
matter of bonded debt, but the figures
of Mr.. Hough show that the burden
consists mainly in the interest
charges, for in fact the municipality
is In possession of available resources
amounting to good half of the entire
face of the debt.
Take, to begin with, the tables
showing the alcondition of the
city on December 1, last. From this it
appears that*here was $7,485, 91S.T of
genefal bonut bit and $5, 08e, 600 of
assessment accGj bonded debt, or
$12, 571, s19.7 ~ in all. There were other
public liabilities, including appropri-
ations, made but not exhausted, which
raised the sum total of the city's in
debtedness in a bookkeeping sense to
SIS, Coz, 65S. 80.
Against this the city has in bank
$501, 943. 10; it holds in the Sinking
Fund, of its own securities 81. 307, no.
so; it has uncollected taxes to it's cred
it aggregating So. $3.50, 900. Al (of which
$706, 964.02 has been adjusted), and it
has So, 1S7, 108. 66 of uEcollected assess
ments for benefit. These and other
minor items give a total of actual re-
sources Of So, lS8, 053. 90.
Thus it will be seen the net excess
OF the city debt over the assets of the
municipal government is only 81, 400,
6O4. 90. This is a fact which will fill
the Republican campaign orator with
distress. The Journal was anguished
over 1t yesterday; but it fairly entities
us tosclaim that the Democratic gov
eminent of Jersey City has been in
part supremely good The Board of
Finance has been for years, as it is
now, a tower of strength in the inter
est of the taxpayers. and there are
few cities in the world which can
make a better showing than we have
indicated.
To complete the record, Mr.. Hough
furnishes the public with a statement
of the water debt, supplied by the
Water Registrar, as it does not pro
perly come under the Comptroller's
supervision. This debt amounts to
So, 1876, 900 with a credit item of sos,
659 .66 held by the Sinking Fund Com
missloners, leaving it So, 027, $40. 81 net.
1t is true the city is oppressed with
most un~conscicnable interest charges.
An inspection of the tabular state
ment Of the bonded debt, which we
gave in full yesterday, will show just
who Is to blame for this. The JoI7'f a,
did not dare print that list for it gives
90 lie to every Republican claim
"e bonds issued in 1890 and
for our fine new police
'reat City Hall project,
e interest of old matur
hat will you find2 Will
paying six and seven
-loans? No, you will
md Al are the ruling
J1690 and 1889, ane
or two exceptional
{ small amounts is
vetper cent. allowed
.dTnd lots of z per cent
When were they issued? Why
in 1927 In 1874 In 1870! In 1869
There are mine items for 1879 alone
wherein 4 percent. was paid. Who il
responsible for. that? Who but tina
vile Republican ring whose leading
members, the sFarrier brothers, are to
day eblonel Wanser's bosom friends
and are putting up half the money
for his campaign
Go back to the, era of Republican
rule to the period of selni-bank
rnptcy which it produced, and. yor
find every bond paying Z per cent.
Come down through the list of Demo
cratic Financiers from Allan l.. Nc
Dermott and the late Augustus A
Hardenbergh down to John Edelsteir
and John Kenny and you find 3 tx
41-2 per cent. the regular rates, will
an occasional 8 per cent. as a toI
notch figure. That is the difference
between Republican and Democratic
hnanciering. The Republicans no
only created the debt by their ex
travagance, but they funded it at the
highest figures. The Democrats hav'
not only cutit down year after year
: 49, ,f.ndad n ao-foSt ~,