New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-08-01
rur FINANCIAL SCHEMh'
.,-,,rR TESTAMENT OF THE GRhAiNN
NETWORK CHARTER
c,, r1.x FOR THE CONDUCT OF III
nrsr PROVIDING FOR lN'NN"'-
oSps-prsrrNCrIvE AID
-,, TIVE FEATURES

r poNps DISTINCTIVE Az
,ux,srRAr1vE FEATURES
.,.,os ~ the sixth chapter OF 'ne
Ihe ne. .,or,er for Greater New-forA "''e
or'' soa ~ The Tribune yes'eroa! :"
for""'D v-,uian c De Witt The on"f
rn'ss'O". ronartrnent Of Finance anu 10 ~
cove =, extensive of any OF the '""e
far VI. 20, appeared. MIR. De WIN say :"
~"'" accompanying his draft 'ha' ."'
"e i, substance and in It's me'hoO' ,,a,
,.,.o,ion largely a reproduc'on' ~ ,,.,.
= ,he charter Of the city on ,V ~
W. ,ricabe to the large n'ui''0'P'
lind He goes on 10 say .oa,ures CON-
n''"1 ,,.,,,ct,ve administrative 'ea'"'e' w."
-,.. - nlacine deputy tax coI,e.,o, =. ,ha
ss. 80 in the Municipal bu''oi"s II, -"
,,,ch ~ Brooklyn for the "a'''"0 Wv"
,,.,rose Of their respective oepai '''''"' roo,,
49, 80 tho boroughs of Wilhamsouls an" ,a
"'s -. constituting the city OF brooN'' IL go
H"' 80" force seating officers OF 'he same
III 80 IN the borough Of Queens anu III Wv
p'''' .s - Richmond These provisions are "'
x ,he convenience OF the oi'i~o
SIS Sar.-york residing in THESE respe0'''
'.,. Won, will see. for example '"a' -
-. ,,,ite inconvenient for the 'aApase,'
"'''' -,a,s of the city 10 pay then 'aNe' III
one Office. ,,,a radical plan for the
49,, - the city debt, briefly ana susse
.o- the consideration of the Com'ii'ss'o"'
-, ,25 10 which deem II my uu'' ~
.,-.,, vour attention. 1t VIII ne i'''0
.",,,,o,ed if it shall meet with the app'''"''o''
=. che Commission and the general Puo"''
"a Wv o,,,das for the eventual funding OF the
la. aab, in interminable bonds, or oohos io'
A., ,ovment of which. except as 10 'i'e pay
=. ,,orost no definite period is nXeu. II "ouN
,,sva the city. if adopted. OF the iii'peI
.oossitv Of raising from So.oooo"o u F'
nm annually by taxation to SVEN us SIM"
,rs funds II has no model. unless IL 'e -
character Of British consols. IL Is pa. NN
ann,icable TO municipal debts IN 'his ''"'
CAUSE Of the section Of the CONSTITUTION "
c,a+s which renders IL 1mposslpie ioi any
q create a debt in amount exceeohs ~ P
:, 49,. assassed valuation of its real estate
,-nder this constitutional provision 'heie A
~ No sound reason why city should pe COM
10 = &c orv norton Of its debt within
exsa nerlods Of time. Liquidation OF deo' o'
"Ne1 A. ne. y, only FOR the purpose Of Great
,ng now and further debt. The taxpayer pay
ms ...,s,ro obligation 70 the end merely
r.. anotber obligation shall take us p'aoe' ~
'''' ,o,ore much wiser to permit the CITY
he
,u 20 raise annually only so much
-. nayroent Of its debt as may De III
ten the financial condition Of the ume
60 an economical conduc' OF i's
,rb,trarv sinking funds were vi
- ,d,snensable before the adoption vi 'io
educational amendment TO when nave q"
,,,a.a since It is quite apparent tna' ""e"
-. volume Of bonds are TO fall due a' So"
.... rro,.ration to meet them must DE ",a0e
&C.. ,n.tolments In anticipation OF theii ma
t,,-tv. but with intermlnapie oon''' A..
,r,o,s 70 exceed 10 per cent OF the 'a'ue - ~
go, estate Of the city. there couio pe no
,r,r sinking funds should not be Voiuii'"'N'
-.o.a ~ arbitrarily collected from 'ne .aNp"'
- ,orser a bond has to run the h>sner 10
.xo ,r,ce II would bring. and these ooios wiz
Urn forever The city could orE ieu'e"
nv purchase IN the market
.rb,s - the only new feature IN the C"ap'e'
=. r,,.nce. 70 which 1t seems to me your a''e''-
.,on should be directed
Outline OF THE CHAPTEK.
ohan,er deals solely with the Department
=. FINANCE and comprises in all SIX n'ies' CIV
.rng the following SUBJECTS
,..,o,,er The Bonds and Obligations OF Ine
c INC rSa chamberlain. Sinking anu, iinn,nent
ions and The Board OF fs''ii"
and Ievying IaNes
TITLE THE CONTROLLER
,.,os 81 the controller are first enum-
NV ,,ud,,g the settlement Of claims upon 'ne
''1' ~. contracts 10 which his consent Il heoea
u wv! defined He shall have power 70 appo."',
..,a for cause 10 be stated in wrlune anu
IN ,ha CT, Record" remove De ~ Gontroler at
y; NJ may be authorized by the ,,,nas for
Inc oeputs ias TO i'll his place al times t tor
,a-,aSs limited 10 three months fnr o,ivelv for
~ nsnartr,ent are also named p,es Cor The
we ~ rent and similar revenues loI
eolec,ion OF taxes for the coector ,dit accounts
ga IaYes rents 90 in arrears; 10 aro ceive nav
sno ne civ Is concerned and 10 rece ,p"iiv
msn,s A financial statement inus,ts,ons are also
r1h,ss, - Nv the Controller. PROVISIONS az Lands
pupsisneu 80, Denartment 20 dedicate certain MINUS
for markets. o>-c lt,
TITLE 1.-THE BONDS AND OBLlGAIioN' VI
THE CITY.
- ,ouo,,,,e subjects are here covered IN wen
Ave sections: Controller 20 create pup''c i'''1
fsh Of city pledged for it's redefhp''o"' VI -,
to he registered coupon STOCK ~ ,or ,re-
coupon consolidated county STOCK ho"e' ,r
van,,or NJ contagious diseases: expense % suad in
w., vi derorina ton Of bonds lssueu III
s,shsnoe. o,her bonds may be exempted Io cttv
non, ,.cn, rssls ,nc amount OF bonds that ma!
issued and rate: proposals for ru'u causes
other Specifications as to bonds anu u'''
for which the city may borro" N1o"'''
TITLE 1.-THE CHAMBERLAlN.
The ch,rt.,,s,, &c 70 be appointed In the same |
manner az are heads OF departments, 10 hoiu Ills
Office four years and must give bona IN 'i' sum
Of ss00Dro lie is 10 receive all moneys p"'" NV
the city treasury and his accounts mus "e
smined by the Commissioner OF Accounts -"
charberlar shall exhibit a statement OF the pal |
snce in the treasury to the Municipal Assembly az
ne hrst meeting In the month. after ms e!i,i an, ~
apon his office He must also MAKE rePo . -. on
ssen'roer, regarding the state tax OLE nroyde
!he nrst day of every month He must lIo'iuuu
payments IN he commissioners OF Emigration out
y DUTY monevs on alien passengers. us iees alu
aIso Specified and his duties in regard 10 n,onr;
pad into cour, are the those OF tne prss't
county Treasurer 4 majority vote or 'he . ha IN,
pertain, Controller and Mayor decides upon 'he
banks In Witch nuhl,c money IS 70 be deposited
TITLE 4-SINKING FUND.
The Board Of Commissioners Of the Sinking ruho
Will consist Of the Mayor Chamberlain. Controller.