New-York tribune., 1909-10-30

Tie taxpayers Of New York have been
living in q fools paradise for the last
six vears. The plain truth is that the
revenues legally available each year for
defraving the cost Of city government
have not been large enough by millions
cf dollars 70 meet the expenditures made
for that purpose.
ass consequence, money obtained from
the sale Of corporate stock and from spe-
csl revenues sllocated for other pur-
poses have been constantly used 10 pay
running expenses in absolute violation
of the provisions Of the city charter.
other expedientS have also been en-
Tio7ed IN this process Of finding money
IN pay the cost Of city government in
excess q the revenues from taxes and
The general fund that are bound TO make
the final day of reckoning a disastrous
one. not only to those who pay taxes. but
70 every resident OF the greater city.
Every eKpedient known to skilfu poll
tioians has been employed in this sue
ressflI effort to keep the public in the
most complete ignorance of the fact that
the city has been living millions Of dol
lars 2 year beyond its means.
The officially published records make
e. plain that this process Of putting the
devil behind of keeping the public in
ignorance Of the actual state of affairs.
Of refusing to face honestly the results
Of disastrously extrayagan admins
tration Of the city's affairs. may mean
doubling Of the present tax rate within
the next few years. or a still further put
ting of Of the day when the truth must
be made known with even more disas-
irous results. Incidentally this dishon-
est refusal 10 be frank and aboyeboard
with the public regarding the real cost
Of city administration has already been
responsible for seriously injuring the
cirv's credit If II is continued much
longer. the time viii come when city
bonds viii not be q gilt-edge security
upon even the New York market.
HOW BUDGET MONEYS RAISED.
The Controllers reports show that in
1s99 the amount authorized in the budget
for the cost Of city government in that
yesr was S93. .oS2, including more
than S7.0o0G00 Of expenditures which
properly belonged 70 the previous year
that in which the consolidation Of the
greater city caue into effect. Tie as
sessed valuations Of property we're So
AS. .3J2 n29. and tax rate Of 2.4S pro
duced sse. fs0071 in taxes levied. In
1902 the amount authorized in the bud
got for the cost Of city government was
S9ssfaG 500. The assessed valuations
--ere increa sed TO s.. .s57 .O4T. IFS and .
sBC
taxes levied. In 1902 the amount au-
tLorized in tine budget for the cost Of
city government was S97376,759. The
assessed valuations were increased to
s.. a.. .39s .9lS. and tax rate of 14l
produced s77.631. .7ss IN taxes levied.
Thus. ~ the simple cxpedient Of prac-
tcauy doubling the assessed valuations,
Controller GroUt was able to pretty
nearly cut the tax rate in two. The OBJ
ject # this move was 10 reduce the an
nual tax bills. The amount Of taxes
levied under the increased assessments
show that the then Controller succeeded
in making the tax bills for that year
smaller. for there VAS a $1,000. 900 re-
duction from the amount levied in the
preceding year Bat the budget was
onlv about $10o0O00 less than in the
previous twelve months.
The difference Was made m. however.
bz = very considerable addition 10 the
revenues of the general fund. ali II
which IS available for the payment os
budget appropriations. This addition
ca.ne from the surplus revenues Of the
sinking funds Upon representations
made TO the Legislature at Albany, that
receipts accruing TO the sinking funds
from revenues pledged for the redemp-
lion Of bonds issued before consolidation
sere piling Up i'm the sinking funds ia
excess Of the amount required for that
purpose. authority was obtained 10
;rsnsier these surplus receipts 10 the
general fund 20 &c used in reIucins the
amount Of taxes required 80 ne ievied.
81 means Of utilizing s. 500,oCO Of these