Waterbury evening Democrat., 1907-09-07
$4O,OOO,OOO FOR GRAFT.
Statisticians Say That Is What h
 Costs New York Yearly.

New York. Sept. 7.-Some idea ot how this city has grown may be gathered from the fact that the ex- penses of government, as figured out by the various heads of departments, for the coming year will in round numbers be about 0,000,000.. This is considerably more than was required to run the whole Unitedi States government in 1876 and shows recklessness of expenditure under Mcclellan that eclipses any, thing ever heard of in municipal history.
 It has been figured out by statisti- clans that at least $40,e00,000 of this huge amount will go for graft and l think the estimate is modest one. Never has the city known such. carnival of plunder.
 Men under Mcclellan are growing rich over night and when the atten- tion of the mayor is called to the spectacular rise in wealth of some of his closest advisers he merely shrugs his shoulders and says: T don't believe it''.
 The only item in the budget this year that will not be seriously criti- cised by the taxpayers is the $32,- 100000 that is asked for the public schools. Under Superintendent Maxwell, the New York public schools have gone from nearly the lowest stage of efficiency in the coun- try to the highest. The teachers are the best paid in this or any other country and they are appointed with out the slightest political influence. All that is required of them is to pass the so-called Maxwell exam ination." If they can do this their place is secure. The result of this liberal policy has been to draw to New York city the very best teach ing talent in the country. It comes hard sometimes on the native New Yorker, but as it inures to the bene- fit of public education there is nttle or no criticism of the Maxwell sys- tenn.
 The stock market is grinding along on more rational basis, and there is little or no talk of panic. The slump has been a good thing for men engaged in legitimate business. It has released a vast lot of money that the banks had tied up in loans on these highly watered securities and given the public chance to bor- row money at reasonable rates.
 It is not generally known, but the country banks send their money to Wall street because it is continually working there and earns a larger interest than if let out in the locali- ties where it is collected. The re- suit of this policy often works a hardship on the local merchant or manufacturer who is forced by the necessities of his business to borrow money. When he wants it most he is told at the bank that he can't have 1t because of the stringency in the local money market. The stringency in most cases is due to the bank sending its money to New York for Wall street gambling purposes. This fact the banker generally keeps to himself.
 This abuse has grown to such proportions during the last ten years that it would not be surprising if there was some legislation looking towards a reform of this particular phase of money making by our na- tional banks. No one objects to the national banks making money. That is what they are in business for. But they ought not to make it at the ex- pense and convenience of the public that makes it possible for them 70 exist throughout the country.
 The outlook for business generally is good. The crops will be all that has been expected. not bumper crops, but good ones. and the prices such as to continue making the farmers rich. There are more buyers in New York than I have ever seen before, and the merchants report big puFso ehases. showing that the stocks in the country are pretty we'll sold oue, The steel trust, business barometer that can't be ignored. reports busi- ness enough ahead to keep all its mills busy for the next year. The price of copper will be fixed for the year at IS cents, according to good authority. This means there is still a big demand for copper. This is no time for the croaker.
 JOHN MARTHOL.