New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-04-29
POOR RICH NEW YORK.

The Controllers long expected statement con-
corning the city's finances announces that the
municipal Indebtedness exceeds by more than
$50 900 the constitutional limit OF 10 per
cent Of the assessed valuation. II cannot be
said that Nj Colers report changes the situa-
top materially. for his findings had been gen
orally anticipated and the city was already
confronting an awkward dilemma. We do not
mean TO imply that the Controller has expressed
anything else than his own honest opinion. but
certainly it will surprise nobody 10 learn off
cially that his views are in harmony with those
which Tammany has constantly maintained
since it came into power. and nobody can doubt
that they will be entirely acceptable 10 the or
ganization 1t has been the Tammany policy
and especially since its plans were disconnected
by the failure to get rid of the Rapid Transit
Commission and the favorable decision Of the
Appellate Division affecting underground roads
to maintain that the previous administration
had made large contracts which could not be
constitutonally executed and that there was
no possibility Of embarking IN new municipal
undertakings That attitude, well known and
practically effective before, is now formally
sustained for the time being by the Controllers
statement legally backed by the Corporation
CounseIs opinion The administration. there
fore, has obtained what it wanted, and is not
merely authorized but bound TO act accord
ingly.
1t Will not be denied, even by those who most
strenuously maintain that the Indebtedness IS
enormously computed. that serious and per-
picking questions Of law are involved. which,
as the Controller says, ought to be author-
tatively settled by the courts at the earliest
possible moment. II the outbreak Of war had
not lnterfercd with the plans OF the Rapid
Transit Commission. destroying all probability
Of satisfactory bid in the near future for the
underground franchise a settlement might
have been reached without much delay. For
the Commission or the contractor would have
been in q favorable position for bringing an
action to determine the points at issue. and
such suit under the law would have had
precedence In any court over all actions not
criminal. As 1t is. we suppose a resort TO the
courts may readily be taken by any one who
has performed work on n contract let by the
last administration and Is unable 10 OBJ
tain payment and We should hope that means
would be found to expedite such an action. In
the mean time, individuals must suffer hard
ships and necessary public works may be
abandoned In such a state of ncompletion that
obstruction or serious injury and deterlora-
''tion thereof may result
1t is a melancholy and humillating position
for a great and immensely wealthy city TO oc-
cupy, and it would be impossible to conceive Of
a more impressive illustration of the folly
which involved various communities In
scheme Of consolidation for which not one OF
them was ready, which not one Of them de-
sired and Of which nobody could predict
though many feared, the consequences We
have no doubt that Tammany cherishes the
cheerful anticipation Of finding means by in
creased assessments or otherwise. while still
preventing improvements which 1t cannot con-
troll, to legallze whatever expenditures 1t wishes
to incur; but that prospect, so far from afford
ing consolation, is full Of new menace If the
men who forced consolidation through q re-
lnctant Legislature. in direct opposition to CON-
nonsense and public opinion. and then turned