The evening world., 1894-01-09

Thus u is s".h that an increase In tho ctv
redemption and the roe enuos N the sInklnr Fund
peing overaalanc"d hy the cost NJ rerna ncnt
improvements which amounted to l,Ii' o75 CO.
FAvoE7 LONG PERIOD ROHDs
The interest charges m bonds maturing provIorE
20 and In III" year 1904 whose rntc NJ intcres' 8
n,,,, = ., and per ""n, amonot to 81 go $50 o'
long period horis Fsgci at a rat, n, interest moi,
exceeding 2 nor ccat mn, convinced that the
ss,a ,Sn.. nnaers rSr ~ n" noH6, wGg Willingly
vestment which bond for term Of ycars would
insure The ,ntcr'9t thus snv"L would amount
had authorizing the Comptrnlrr 10 refund whcn.
ever practicable the ritys hirhor rate grruriti,
Into per cent. bonds havinS forty or rrcrp years
Nearly sso ooO non ~ revenue bonds tho ,r,ercs,
or which Approximate sQN1 nG0 were Issued l.,
JsyI TO- pay The Hxpenrc0 of IN" r''y un'U tho re.
erints from taxation became nvnilnbo Tho 6nnn.
eisi s'rirgeucv made II necessary in some case.
for TIE city TO n1y pcr cent interest In The
past hfty wears the morcv borrowed In nn'irlna.
tion Ct collection ot tavcs has cost the city in
interest almost si6 900 ot0. 4 change IN the rvs
tem of 'eryirc ami collecting taxes wc"ld ro'ro,s
yhis burdensom" and unnecessary expense. The
pcnsfvs borrowing NAV he avoided
The general sta'ome-, n tho nmairs Of tho cit,
81 rrost safistlctnrv. The ritvs credit stands -,
tmp.ired d"srite the urravrrahle Hnoncial conii
lions The tax rate ir the Lowest IN thirty years
sfznces incrs-se'
S SLAP At RhFIn TRANSIT.
4 In enc direction oaiy do fan 10 note sub.
matter OF rapid transit. The diTcllt rrohle',,
irvoived. and the ia't that capital "a even more
umes have prevented nay progress in This dire
ticn.s II MAY be thlt an Underground rcNI capable
tsi o. pphlic funds. viii ftrn'sh 'Sa ultimate
solution Tans far no capitalists have shown
,s.a sssicisn, i,,rts in,sre,, in soh plan nor ha.
Investment by tie city. In the mean tmr. and
even though work on that linc was begun. more
Immediate relief IL necessary.
The Rapid Transit Commissioners were no,
INST In 4 proper spirit by the Manhattan Elevate'
y,ailroad manasers in the efor: 70 improve he
railroads has therefore. been plennet. and the
!, % :. SSD.S be osed sS Gr "
pervies that b 80 urgently needed may in this
Nsy be acquired, Immediate relief. however, can
only be Afforded through the Manhattan system
BY the construction OF third tracks and additional
terminal facilities,
VALUATION OF PROPERTY.
The Department OF Taxes and Assessments reports
tho total valuations Of real and personal property
sssessed for the purpose OF taxation In 1893 a
81 eSs BIS 52s 90 as against s2s 264 s5 In lss?
showing total Increase OF ;l05. 2ji 80. which
~ distributed az follows:
Heai estah 81 81 @ Is9
rorporations- ...... ......... i? $50 SIS
Nonresident ............. SSH, Hs
psrsonai- -Resident ,......... isssi tos
This shows that personsi as well as real prop
nfy eontrbutes TO the additional amount as
lssssd and that more than one-half the Increase
Il obtained BY taxing property which up TO this
|ima has escaped Its Just burden the other
lalf being secured by natural improvements. and
hat no part NJ the Increase u due to inflated
InIue1 OF real estate. Over 80 per cent. OF the
increase shown In real estate is for improve
nents One evidence Of this Is that there were
ever applications for reductions OF assessed val
~ ~ 1858 than In 1888 and Of these. teysuty-nve
IFFe under chapter 6C5 OF the Laws OF 1899 grant
- exemption on. church parsonages to the ex-
1lt of 1900 each.
II may b taken a. an evidence Of the falrnass |
lhf aaseaaments a. made by the Department /
be year. that fewer applications were made /
~ courfa for urits OF esrtioran 70 review It's
|QEk LAeu were made IN any other year for
|41F ~eut last- 49, lt ~
yIIEsE EyADE T+xAfIoM
pa4r Y. Axs ssysriss s.z.iiaA nsw salas |