New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-06-26
TAXES. CURRENCY, CANALS.
CHAMBER OF COMMERCE IN ITS AN
NUAL REPORT URGES REFORMS
IN MANY LINES.
IN MANY LINE:

The forty-second annual report OF the Chamber
OF Commerce has been compiled. and will be dis
tributed among the members within the next few
days. The report is divided into two parts. The
first part contains the proceedings Of the Chamber
II the year ending April 30 1900 together with the
ioll OF members. officers and committees. and the
constitution and bylaws. The second part contains
the usual trade reviews and statistical statements
Of trade and finance Upon the subject Of cur
rency reform the report says among other things;
The last year marks an era in the financial his
tory Of this country, owing to the action OF Con-
gress reafirmiTg sn adherence 70 the goio stan
ing the means maintain a proper gold reserve
and creating a Department OF Issue and Redemp-
country on a ps rity with gold This legislation
forr3s The conversions uron which will be builded
banking system ultimately perfect In all It's parts,
m5tion. and caref3liy ADJUSTED to the constantly
increasing strain attendant upon the repla grown
Of the country and the new requirements con,
tingent upon colonial enlargement and tho spread
Wbetber Ills structure win be buded in ali OF its
parts without still further bitter experience WIN
fo,,ndations being secure the srperstructure may
II has taken years Of public discussion and sad
ton to the present standpoint but now that we
have placed our Tred av al nations of
the world we are in P0ston TO s ostte a bd m
our foreign commerce upon solid ana fasting
The Refunding bill. in which nearly all present
issues may be merged, upon which currency CIR
Sen eRabe hitherto and reducing the tax upon
circulation, was also important legislation enacted
an ENLARGEMENT Of our currency circulation. espe-
has Tor a long period been realized by those en-
gagged in trade. and the demand for elasticity in
currency circulation has been pronounced on the
part Of our leading commercial bodies; s.rer.,
arprnval and undoubtedly will AFFORD temporary
relief, II Is not probable that it yin prove or long
greater breadth and more comprehensive in their
edge OF the great laws which govern nnance ana
trade. viii in time take the place OF those we no"
deem sufficient
CONSULAR REFORM TO BE AGITATED.
The report outlines the attitude OF the Chamber
10 the need Of reform in the consular service. and
calls attention to the bill introduced into Congress
IT the last session at the instance Of the Chamber
This bin provides for nine classes of consus. con-
lar agents 10 be eliminated, and the socalled I'M
official consular abolished for the transfer Of
consuls and for promotions from the lowest
grades for public reasons by the President Orgi-
nal APPOINTMENTS TO BE made only from the
lowest class, and all applicants for appointment
are required 10 be examined by board OF three
Civil Service Commissioners. a representative OF
the State Department and a consular officer This
bill was not passed. but the Chamber will at the
next session of Congress agitate the necessity Of
the reforms outlined.
Toar5onable pride is expressed in the report re-
harding what has been accomplished toward rapid
transit inasmuch as the plan for this great WORK
was conceived in the Chamber. An interesting and
concise statement of the history Of the move
rnent for rapid transit is given
LARGE IMPROVEMENT OF CANALS URGED
Attention is drawn to the vital question of the
States future policy toward its canals. After re-
ferring to the recommendation of the special Com
mission appointed by Governor Roosevelt, favor
ing the charging of the Erie Canal at an estimated
cost of S62 100000 the report says:
In view of the great improvements which have
loo de in
in freight rates is evident that the canals must
fnjness at the cost above mentioned or practically
abandoned. The last expenditure OF Ss'O1gO was
face the large expenditure involved in a thorough
the requirements Of to-day depend upon rail
roads alone TO sustain the commercial supremacy
proposed for the improvements is made, 1t SHOULD
be borne by the State and not by the General Gov
eminent
SYSTEM OF TAXATION CRITICISED.
In the course of a commentary upon taxation the
Chambers report observe;
Expenditures for State and local administration
show a persistent tendency to increase. This rem
ders necessary higher rates Of taxation and the
teToTses Of Individuals and corporations are being
driven from the State by unwise levies made upon
them. The Incorporation OF joint stock enterprise
is hampeTed Property is taxed and evidences ESQ, OF
debt the same are also taxed; in this and other
ways double taxation prevails. Corporations OF
similar character unequaiy taxed. There is
the tax subject TO extraordinary expenses, often
Srr9pnc5ises ~ Pp1bc sort P roceeds on lines Witch
may may not be essentially just. but
tatnly new and require study. II is by no means
that collected with reasonable GER
tainty. The basis Of assessments Is not constant
and the purposes for which the Board Of Equaliza-
ton established are inadequatey served by it,
IN fine. system Of taxation which has been de-
nounced by competent experts over and over
again. has been, such it is, oUtgrown, and much
study IS necessary If the system is TO be improved
a better devised. If there is TO be consid-
cred further the fact that the tax rate often APP
proXimates to the interest the Importance OF
the subject viii be evident TO the thoughtless
observer. IN recognition of these conditions and
considerations, the Chamber has constituted the
Committee State and Municipal Taxation and
irtrusted 70 il the serious duty involved