The sun., 1903-11-01
saa, ,sa5, ,sGs sl02. .sss 2so 50, ,sse, ,sl7

For the county OF New York s., ,ss5, is
was appropriated, an increase of S37 1874;
in the county budget for Kings the ap-
preparation was SLIPS ,423, decrease Of
s4s,sso; Queens got l57,l94, an increase
of Sl72 while Richmond with S63, 900, had
an increase Of $3.50.
After the meeting had adjourned Mayor
Low made this statement
The amount to be collected by taxation
nest year will be approximately si,ooo.ooo
made in 1901. 1t will be about 50 500 oOV in
excess of the amount collected this year.
Offset by the increase Of taxable properly
and by the gain in the city's revenues. The
comes from. the demands for, redemp,ion of
rity debt. for interest and for instalments
on account Of new debt Tine last item is
amount Included for redemption OF city debt
includes 80. 100000 of special revenue bonds
IN excess Of last year. mos Of which have
park opening fund. In this sum is, an item
Of more than Sl.0oo.Ooo neccssitated by me
payment of the awards for the Rivarsi le
Drive extension, an Improvement begun in
Mayor Strong's time. There is a large in
crease in the amount of interest due on ac-
Of taxes: also on account OF the high rates Of
interest now ruling. and because of change
Y the method of fnancierinC adopted by the
ss against ~ this year: but even that is a
Ghsnss 2Tes T'is n than si as@f S
standing the great growth Of the city and the
many improvements that have been made.
To put il another way. on taxable resources
next year lat least s45O.ooo,ooo in excess OF
last year the amount Of OF money no to be raised
sral years the tax budget has approAimately
been almost stationary, IL has really, in
creased every year but the increase ,,I has been
in the State tax. the State tax. both this
year and next. i as low as S it can can be. under the
isetion % Of . nils each year on "a account tot Of
the canal debt. Every increase in city ex-
pensas. therefore. from now on will show
issue of special revenue bonds for street and
park openings. and the interest account
maj sfnS TS ss year for the de-
partments. including the Borough Presidents.
have been kept VII within ss;soo%onthe o. est-
This was what Mr.. Grout issued after
he had read the Mayors statement:
The change in the fnanciering which the
Mayor refers to Is simply that the Comp
has 10 STOCK N as
time Tine being. Of Of the proceeds ior current ss- M
slways prevailed heretofore and which, is
rot clearly authorized by law. 1t makes
% E TEht s. ,b oT ocy IL r w6sb SS
can be lawfully adopted That makes a
email difference; ! cannot vote for that
going on the record / cannot say what
the tax rate is going to be.
In voting for the budget Mr. Grout said:
The largest item of increase is the sum
rccessnry to replenish the fund for street and
park openings The sum necessary is i'm
posed by taxation according to the terms
Of tn" Charter. but is intended for present
and to bn collected hereafter by assess
ment. | regard the law rs very defective
in this respect and believe the city ought
10 NJ once propose an amendmrnt to How
~. issue Gi assessment bonds instead Of
special revenue bonds and so prevent such
IN increas" in taAation Such assessment
'U"nls levied. So far as this board Is con
c"rn"d this item of increase Is mandatory
N 'he nin,ter was with the Corporation Coun-
81, who has proooedcd. Think. faster han
his client could AFFORD. If. instead OF closing
e. mlE% al rh"se E-accCdings this year, he
iad closed 4 few moro last year. few loss
this wear aud reserved some for next year,
there. would have been no such increase in
fYV.i,i,n