New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-02

NO LAW TO PREVENT THE EARLIER COLLEC.
TION-THE CONTROLLER THINKS THE
CHANGE THIS YEAR WOULD
BID ECONOMICAL

There Is an impression among taxpayers which Is
growing In strength that this year they viii be called
upon settle their annual bte, TO 'he city earlier
than usual The first Monday October has been
the day for the collection Of take, 10 begin but there
Is nothing in the law TO prevent Colonel Austen,
Receiver Of Taxes. from taking in the money month
than his predecessor, Major Mclean. dill. The
law gives a rebate OF per cent year. interest TO he
computed from the date OF payment 10 December l.
From November ! 10 December no rebate accrnc',
and II payment OF taxes De- deferred until after De-
cember and until January /. penalty Of per cent
year is imposed. Aitcr January the penalty s
at the rate of per cent month. II H. Therefore. 10
the advantage OF the taxpayers to get their taNos mo
the receivers hand, the earliest moment after The
books are opened and the larger ;he tNb,ll HE
greater the rebate. II the c0lleo lion could begin
month earlier. the rebate to taxpayers could be- in.
creased though the city would lose ospondinsly IN
the sum OF its taxes.
This year. 1t /, believed. there will be economy In
anticipating the beginning Of the collection. because u
the unusual strngcncy of the money market. The
city does ic, business the credit system. and Tor
nine months in the year Is a borrower In the ,trc"t
ordinarily, with money ~ nominal rate 81 Interest.
things have gone Snimminck. but With money
ruling 3 10 IN Wall Street the Controller MS
found ii difficult to meet current obligations. TIE
situation may be- relieved by having the assessment
rolls approved The taA rate fined and the taN books
turned over I'D Receiver Austen ~ soon possible.
It Is understood that there will be- difficulty In
having the collection begin on September ionr month
ahead Of time. The loss I'm rebates wouii b" more
than made up by the relief from Interest, On loans.
Controller Myers suggested yesterday that would
be- an excellent thing 10 release tn" mill0n, 4
dollars now held up ~ fling the opening II The
tax roll for payment. TN. money h" aAii, is
doing no good. lying idle ia hanks strong bcNe, and
old siocklrs,. awaiting the notice from the Receiver
that the payable. 10 release II and put IL
into immediate circulation would do much toward
relieving the present stress
To bring this change about the Aldermen must
sacrifice part Of their summer vacation They viii
meet AT receive the assessment rolls
from the Tax Commissioners. They inten led To adj.
our, then. until August 20. when the extensions Of
he taX.ros would b. completed and ready for their
final approval the law prescribes. But they
will meet week earlier, on August %. During the
succeeding eight days the books b. made ready
for the Receiver.
Tie Usual SUI paid IN during the first week In
October is between $4,000 900 and 81 OOOO 900. IL IL
estimated that at least SiO,OO0OOO would be paid
into the city treasury In the fist week Of September
II taxpayers received the additional rebate which
they would be entitled a. by such advance
The budget for the year l-J3 Is $Ji III I2J %.