New-York tribune., 1894-04-22
EX-MAYOR HEUITT ON RAPID TRANSIT
HIS REPLY TO Mr.. GILROY's ANSWER TO THE
CHAMBER OF COMMERCE. COMMITTEE-THE
MANOP.S CHANGE, OF VrryV

HIS REPLY TO MR.. GILROY's ANSWER TO THE
CHAMBER OF COMMERCE. COMMITTEE-THE
MAYORS CHANGE OF VIEW
This is the full text of ex-Mayor Abram S. Hew-
hts second letter the rapid transit question: re-
plying Mayor Gilroys to the Chamber Of
Commerce Rapid Transit Committee Of which Mr.
Hewitt is chairman:
Although in his published reply your statement
made the 18th inst. to the Legislature Mayor Gil
roy refers by name, l did not deem 1t
necessary to it. because 1t not attempt
deal with the only question in issue between the
committee and the Mayor. That question Is
whether the construction of a rapid transit system
by the city Will Involve transgression of the
constitutional limit of Indebtedness by the issue
bonds in excess Of 10 per cent the assessed
value Of the real estate within the city OF New
York.
1.-The Mayor his first letter insisted that there
would necessarily be such transgresslon. and the
committee proved in its answer that there
ample margin in the last ten years for expenditures
of greater extent without increasing the public debt.
1T is true that these expenditures have been made
out of the proceeds Of bonds but IL Is equally
that the sinking fund has retired other bonds
greater in amount than the new bonds thus issued
The accumulation of the sinking fund has therefore
been more than sufficient to meet outlays for new
Improvements costing more than $so0oo.OoO since
1883 This fact the Mayor ignored in his original
letter, and apparently he denies 1t in his second
letter.
Upon this point however It shown that the
Mayor himself. in series of carefully prepared
ticles published in the North American Review. had
demonstrated the ability Of the city execute far
greater enterprises than the rapid transit sys
ITEM. But in regard 10 this particular undertaking
i find that the Mayor especially explicit in an
interview which he gave to the public press on the
1&& of August last after the failure OF the Man
haitian Elevated Railway Company to terms
with the existing Rapid Transit Commission. His
language is reported follows:
There should be no more dy y-dallyng with
this greedy corporation, and the Rapid Transit
Commission did we'll in refusing 10 have any further
negotiations with 1t. ! have never believed II to
be in accordance with good policy to invest public
moneys In private enterprises. ! have always be-
the legitimate field OF private enterprises would
paralyze such enterprises and would drive from
our city private capital which might be invested
therein. But / think the time has when
priety OF building what every one admits to be
absolutely necessary-a permanent rapid transit
road between the upper and lower ends OF the city.
=" still entertain the hope that such enter
terms made by the Rapid Transit Commissioners
and the inducements offered by them be sufficiently
attractive: but II this cannot be done. then | am
prepared 10 assist those who believe that the con-
structon OF a rapid transit road should be made
a municipal enterprise.
Our real estate valuation to-day is over 81 500
600 900, while net debt Is only $9s O00C00. We
have thus limit OF 10 per cent Indebtedness
nearly 10000 OF a margin. This margin, by the
increased valuation of real estate and the continual
Improvements going In the city, will increase
instead of diminish, and | have fear whatever
tional Limitation of indebtedness carry, II
by municipal authority this great enterprise