New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-11-01
THE BUDGET lO6,674,955
APPROVAL UNANINOTS.
TGmmany Members J ate for It
Increase Is SO, 555 .9I3.

The Board Of Estimate and Apportionment met
yesterday and formally approved the budget for
the year 1894. II amounts to Sl0G67l.955 90, as
against s9711903I TO- which the budget for last
year This is increase of S9555.9l3 %. large
part of the increase IS made up of compulsory APP
preparations for schools. police interest bonded
debt and the payment Of revenue bonds.
The budget is the work of a board which is
practically tie. the fusiOniats having eight votes
and Tammlny eight. Twelve votes are necessary
pass the budget but the action of the board
unanimous. The board IS made up OF the
Mayor Controller. President Of the Board of Al
dermen and the presidents of the tive borOughs.
The Mayor, Controller and President OF the Board
OF Aldermen have three votes each the presidents
Of the Boroughs of Manhattan and Brooklyn two
EACH the other borough presidents vote each.
Fusion. represented by Mayor Low and Presidents
Cantor. of Manhattan: Swarstrom. of Brooklyn.
and Cromwell OF Kichmoad. eight votes. Tam
many. represented by Controller Grout, President
Fornes and Presidents Hanen. of The Bronx. and
Cassidy of Queens. also east eight votes.
As the vote was unanimous political capital
be made of the fact that there is an increase
In the budget. the Tainmany approved the
budget well the fusonfsts
Practically all departments in the city govern
ment got increase their last years allow
ances. Mayor Low gets increase Of $500 for
the conduct of his office for 1904. The interest
the city debt and the redemption of the city debt
shows increase OF almost 100000. The Street
Cleaning Department gets increase of $4,000.
department will have S209l3Gl7 II for school pur-
poses next year Charitable institutions get an
increase of sliT9S5 over last year The Tenement
House Department gets increase of $4,000. while
the Police Department gets S463,Sl9 more. All the
Borough Presidents Jared well at the hands Of the
board. President Cantor Of Manhattan gets
increase of $4,000. President Swanstrom OF Brook
lyn gets $2i5OO0 President Cassidy of Queens gets
100000 President Hafen of The Bronx gets
increase of $4,000. while President Cromwell of
rio
for last year.
If all the estimates submitted by departmental
heads allowed. they would have shown an
Increase Of s15OO0,O00 over last years budget but
it is the board only cut these figures down
about one-half. The budget adopted yesterday
is the largest ever granted in the history OF the
city. After the budget had been adopted the
Mayor presented the following statement which
adopted and placed on file:
The amount to be collected by taxation next year
will be approximately 81 600 less than col
lected under the budget made in 1901. 1t will be
This year Of which appToSimateIy x5050O6 will be
Offset by the ncreasesof taxable property and by
increase amounting TO 100000 comes from the
demands for redemption OF the city DEBT i3r m
The last item s not unduy arge-ess than $4oO.Ooo
debt includes S. 10000 of special bonds in
excess of last year most Of which have been issued
this sum is item of more than $oo00tU neces-
STATED. by the payment OF the awards Tor the
Riverside extension and Improvement begun IN
Mayor Strong's time.
There is a large increase in the amount of inter-
est due on account OF revenue bonds issued in an
ticipation of taxes; also account of the high
rates of interest ruling and because of
change I'm the method of fnanciering, adopted by
the Controller The tax rate next year is likely
to be 90 against IA for this year, but even
that is a lower rate than last year To put it an
other way on taxable resources next year tat least
$3.50 100000 in excess OF last year, the amount of
money raised by taxation Will be 81 10000 less.
Mr.. Grout in referring to the remarks of the
Mayor, said:
The change in the finan ciering which the Mayor
refers to is simply that the Controller has refused
to continue the practice of selling corporate stock
In advance o. requirements. in order to make use
for the time being of the proceeds for current ex-
penses of the city, q practice which has always
prevailed heretofore, and which is not clearly al-
thorized by law. 1t makes comparatively q slight
difference in the of interest but il is the only
policy which be lawfully adopted. That makes
n small difference. | cannot vote for that state
ment but have objection TO it going on the
record 1 cannot what the tax rate is going
q