The herald., 1893-09-10
REAL ESTATE AND FINANCE,
A Review of the Commercial
Features Of the Week.
Considerable Magazine Literature on
Financial and Industrial Topics.
Some Articles on Current Subj scts-stag &.
nation in Manufactures-Mu unicipal
Government County Tax
Levy-ReaI Estate.


in congress upon the silver question, the
leading magazines and reviews continue
to give large amount OF space to dis
eussions touching upon matters OF fnan-
cial interest. Prominent among the pa
pers ofthe present month are those in the
Forum on A Century's Struggle for Sill
yer, by Professor John Bach McMaster
of the University of Pennsylvania. Phe-
nomenal Aspects OF the Financial Crisis,
by Albert @. Stevens, editor OF Brad
streets, and an instructive paper on the
Scotch Banks, Their Branches and Cash
Credits, by A. s. Michie, president OF
the Royal Bank Of Scotland. The North
American Review contains two contri-
buttons of unusual interest; one by
Andrew Carnegie, entitled A Word to
Wage Farmers, and the other on the
Present Crisis, by Sir John Lubbock.
MANUFACTURES.
The condition OF our industries is not
on the mend. Fifty-fve textile and
twenty-one iron and steel concerns have
stopped. In addition, l3 others have
reduced working time and several have
reduced working force and large num-
Der OF the works have reduced wages
from 10 to 20 per cent. Does it not seem,
therefore, that the tariff question after
all is an important factor in the prob
lem more than is as yet generally
admitted? One of the most recent ex-
amples is in the action OF Smith d
Wesson, the revolver manufacturers,
who have made general reduction OF
wages in lieu OF shutting down, giving
as reason the existing uncertainty as
to the changes in the tariff which will
probably be made in the near future.
This feeling OF doubt and uneasiness
cannot but be intensified as time goes
on, until congress comes to the rescue.
MUNICIPAL GOVERNMENT.
A veryinteresting paper is contributed
to the current number OF the Forum by
Mr.. Edward M. Shepard upon the
Brooklyn Idea Of City Government.
Mr.. Shepard endeavors to show that the
notorious corruption, waste and extrav-
agance OF Brooklyn city administration
is owing'to the "bossism," in spite of
the charter, and that the blame should
be laid not upon the .boss, but upon the
weak kneed power in the person OF the
mayor.
The characteristic feature of the
Brooklyn charter, he says. is this: Ex-
cepting the comptroller, who is the
head of the finance department, and the
auditor, both of whom are elected, the
heads OF all the departments OF the city
are appointed by the mavor solely, with
no requirement of confirmation by al
dermen or any other body, and the
terms OF all such appointees of the
mayor Except members of the board of
education, who serve for three years,
one-third of the board being
appointed on July Let in each year) ex-
pire on February 1st, one month after
the Inauguration OF a newly elected
mayor. The mayor does not have the
same absolutd power Of removal, but he
may prefer charges, which, after litiga-
ton, are passed upon, and in the mean
time he may suspend the accused officer
and appoint substitute in his place, 30
that practically his control is nearly ab-
solute. He also has numerous other
powers of veto and of regulating ex-
pehditures, and altogether has greater
opportunity of accomplishing practical
good in municipal administration than
belongs to the mayor Of any other Amer
ican city.
1Ho DrOOhlyA luch nhn uuuuuUtou
merit and it is worth the attention OF
Los Angeles taxpayers. The existing
system of petty strifes between political
factions for supremacy in matters where
politics should not be allowed to enter
Is humiliating to degree. It ought to
be recognized that the affairs OF mu-
nicipslity should be administed by
capable business men, chosen for the
position on account of their known
ability and integrity. and who
should not have to wade through the
mire of primary elections, cacuses and
political conventions as now conducted.
The idea of concentrating the chief
powers in the hands OF one man, and of
holding that one man strictly accounta-
BILE for the success or failure Of his ad-
ministration, would develop an element
of strength which is at present wanting,
the responsibility for oxtrsvagance, mig
takes and favoritism being too widely
scattered under the existing order Of
things.
THE COUNTY TAX LEVY.
IT, ia atotod that kha arporu;uoro mill