New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-04-03
TAX BILLS NEAR PASSAGE.
THE WEEK IN ALBANY.
Reduction of Proposed Stock Trans
fer TmpOSt Possible.
IpT TE1EorAPH 70 THE TRTHuNE.l

,r,,,v Anil 2,-J,nless All signs fan the Senate
ana possibly the Assembly viii this week pass
~. mortgage tax and stock transfer tax measures
~ their existing form and send them 20 the Gov
---,r for his approval. Meanwhile. these dis
catches have suggested. careful investigation IS
t.sBr conducted as 10 the relative revenue raising
merits OF the g stock transfer tax and the 81
rroposition II the result OF this indicates that
re certainty OF a large revenue from the mort
ne TAX law and the possibility OF a diminished
v.veuue from q 8 stock tax, as q result u eva
.,ons transferenoe OF business 70 other cities
and similar reasons. warrant a reduction the
senate and Assembly may. by a concurrent reso-
1rrton request The return OF the stock tax BILL
sfter II has been sent 70 the Governor for his
onrroval ana the reduction viii then be made
TIE advantage OF any such msnueuv1e is appal snt
since It is the only way that the safety OF ne
vDortEare tax measure be assured and the
necessity OF q new caucus avoided
The satisfaction % the Senate leaders n ne
,rorrees Of this measure Is unmistakable. The
stock tax measure mas never been popular. and
With the financial interests the proponents o.
this measure have assumed the traditional parea-
al sttitude-'Jt hurts worse than il does
YOU" Every delegation opposing this measure
that has come 10 Albany has been met almost
81 the railroad station. with the legislative conu-
s-nrn- TEL Us some other way in which we can
raise The money without stirring Up equal protest
and lndimnished criticism, and We VIII adopt II
e. once"
has been & suggestion 20 return 10 direct tax
Lett 10 itself there good reasons for believing
chat the present legislature would have accepted
his answer and taken the step But the legislature
has not been left 70 itself Governor Higgins Is
err believer II the advantages Of the indirect form
~ taxation He believes. and has not hesitated 10
say that the direct TAX. the whole. bears heaVi-
es on thai part OF the community which can least
sror5 10 sustain the burden When the legislators
have returned 10 him with the suggestions ad-
~F,a fa1 frf a
direct tax. be has met them with the frank avowal
that his term as Governor viii not see such step.
II worst came 70 worst. he suggested. the surplus
could be drawn on for this year. the supply and
appropriation bills cut down 10 the skeleton figure
an6 the legislature dismissed
Confronted By this situation the legislature has
aoundered for three months. II is no exaggeration
% say that much OF the time has been spent in
6irec attempt 10 let enough pressure be applied TO
Governor Higgins 70 weaken his stand. But all
this failed utterly it succeeded only far enough
70 shake his conviction that Sc tax stock
transfers was not drastic and TO bring him 10
the point where he was ready. II it could be accom-
pshed without loss that is. loss Of rev.
euus so great as 10 leave the income below the
renditure 10 consent 10 the 81 proposition. IN fact
10 advocate Il with the foregoing conditions
Thus il was that TIA legislsE2.-e lsE: =eek took
the definite stand for both measures. That they
VII pass now no one for a moment seriously doubts
The more experienced are already announcing that
the work OF the session is done.
We have al last done what We were sent here
10 90. was the comment Of Senator Malby last
week after the Assembly action. The legislators
believe they have solved the financial difficulties
not for this year but for the next decade that the
sun OF approximately S0Oo0.OO0 has been added TO
the States permanent income. and that it viii take
some years Tor the States expenditure exclusive
Of the SlGl-OOoo00 canal expenditure. grow up
to this sum. When & does IL IS probable that the
same search for indirect sources OF taxation viii
be repeated. for the meaning OF the present ses-
Rctoh is that indirect taxation is the settled
policy Of g large share OF the rural voters.
There has been 8 great deal said IN the last few
weeks about the 'hayseed legislators" one factor
be forgotten Is The resentment OF these same leg1s
lRtOTE for &ew-YOrk CttyB share IN the adoption Of
TIE canal Improvement plan That q tax bears
kssy1ly On New-Eork City, as both mortgage and
solons who believe that New-York voters saddled
huge expenditure the whole State. This
factor and viii be a factor for some years 10
come That VIII lessen the influence OF any repre-
sentative delegation that comes 10 the Capitol 10
protest against a measure that makes New-York
City shoulder still greater fraction OF the burden
q STATE expense
The session VIII hardly end before May /. This.
however. Is due 10 the two outstanding Liabilities.
ire Hooker and the gas investigations April "a
The developments Of the gas hearings, IL is declared
here. seem fOreshadoW clearly a measure giving
New-York City z marked reduction IN its gas rate,
possibly low % cents Nor have the proceed
ines IN the Hooker case been less striking. The
legislators az least those not on the committed.
have already discounted the result OF the inquiry,
the end Of which IS in sight
-S-