The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1897-08-03
The Board of Finances statement.

questions.
The Hoard of Statement.
The people of Jersey City have a right
to congratulate themselves upon Mayor
Hoos' recent letter to the Board of FL
nance for one reason at least, viz: that
1t has ELECTED the most complete and COM
prehensive review of Jersey City's finan-
cial condition that has ever been formu-
lated for the public Information.
There is something to be regretted In
the tone of the Finance Commissioners
reply to the Mayor. Making every al
lowance for evaporation on the part of
these gentlemen, it is a pity that they
should have allowed personal resentment
to color wha would otherwise be so val
liable an official document that it might
have been well, if it showed less temper,
to have it printed in pamphlet form and
extensively CIRCULATED among the bond
holders of the city, the taxpayers and the
class of citizens who keep themselves be-
fore the general eye by pessimistic walls.
Several points seem to be particularly
we'll established, which should give salts
faction to the citizens. One is that the
interest account upon municipal debt has
been materially reduced. Another is that
the increase in the assessment of prop
erty is nearly four millions less than the
money invested in new buildings in the
last four years. A third is that the
money which has been raised on bonds
has gone into determinate improve
ments, such as the City Hall and new fire
engine and public stations, while the
money spent in the annual tax levy goes
largely into the employment of addi-
tional municipal servants-policemen, fire
men and teachers. A fourth matter for
congratulation is the condition of the
sinking funds, which. whatever may be
said to the contrary by outside cities,
have plainly discharged a great volume
of the city's debt, and still hold securities
of great aggregate value to be used in
future liquidations. All these claims of
the Board of Finance appear to be proven
beyond cavil, and it cannot be denied
that they afford ground for public salts
faction.
There is one portion of this document,
however, which we regard as most i'm
Commissioners touch the sore spot in our
entire financial system, the failure to col
Iect our taxes. The statement is plainly
and emphatically made that we do not
collect within the year for which the
levy is made over 50 per cent of the
total amount. Now, the margin on which
we are working is just ten per cent, the
one-ninth of the appropriations, which is
added to the budget. 1t therefore stands
to reason that if our collections run be-
him twenty per cent. per annum, we are
drifting into absolute trouble every year
at the rate of ten per cent. of our tax
levy. To be sure. a certain amount of
this is realized later, but the document
now under consideration shows that a
total of ST. 600 has become a part of
the city debt in the course of five years
in the shape of temporary loan bonds and
tax arrearage bonds. This, when we con-
slider the fact that our n~eighbor city of
Hoboken has already collected 81 per
cent. of its taxes for the current fiscal
year, and always realizes SO per cent. of
each years levy is an utterly bad show
ing for this city, and a reproach to those
officials in whose province the collection
of taxes lies. The truth is no effort is
made to collect the taxes in this city.
If a citizen chooses to pay, the officials
will obligingly accept his money. If he
does not pay, his personal taxes cancel
lost forever to the city, while real es-
tate taxes drag through the tedium of
Martin Act proceedings to an ultimate
sale for one-half the tax lien.
This is a subject for agitation indeed.
The Mayor, the Financiers and the press
might well join hands with the Goo-Goos
and any other citizens who take an in
terest in the city's welfare TO insist upon
an Immediate and absolute reform in this
respect. In Hoboken, they hustle the tax
payers. Why not do the same here? In
this way and in no other can we have
the city placed on a paying basis and on
the high road to a true reduction OF its
debt.
THE TARIFF ISSIJE