New-York tribune., 1909-03-25
FOR FINANCIAL REFORM.
Recommendations of Legislative
Committee IN Form of BiLIs.
az relegraph 70 The rribune.l


A1hanv March 94-Six bills containing in legis-
Iative terms the recommendations or the CassuS
Merritt legislative committee which lnVesue
New York City's financial condition were intrc-
duced to-day by Assemblyman Merritt majority
leader Of the lower house. Briefly they provioe
for a central purchasing bureau and bureau oA
standards: the installation of uniform system
of accounting and monthly reports Of expenditures
the establishment of bureau OF real estate ule
establishment OF a public Improvement funo sup
ported by issues of corporate stock; the Prohioi
ton OF payment for current expenses py corp0l1to
stock and the prohibition OF issuing corporate SUN
to make up deficiencies from uncollected taxes
These measures have been drafted as lnoepehu
ensctments their sponsors thinking that they coulu
be made to ft into the present New 1olh 80 80
charter II the proposed charter shoulo no' -
or be redrafted as parts of the revised chd4 le,
that we're reported favoraby. There Is consiuei
atIa ,tLa1ibood that these bills will be considered
favorabIy by the Legislature. Many mere oee
them the only measures in the nature VI
ter reform likely to be enacted al tnis ees t.,,-
Assemblyman Merritt in introducing the LIE D,-s
..,,,ii, +his statement explaining their nature
and the committees attitude on the suo1eo'' ''O
they treated:
Tho money for excess of expenditures otg oTer
taxes collected had been obtalnbee tb aI3nount thus
diverted TO pay current running eXpense oS tie 1908
tofsI of over sS6 900 600 In that year
tbe Roard Of Estimate and Appor i1 honJs
to make good the shortages in the various iLe fGngs
ard accounts which had resulted from SucIt &c
ainns or the total S36 100000 of city poIqs
outborized 70 be issued 100000 has beeh
T,b{s hin prohibits the issue or the nanSS
sac 400 600 and requires that amount 10 ue p rro
oyer +be tax levies Of the next ten yea -.
orevant such deficiencies hereafter TINS pI ~,
I,ro,-ides that the amount of taxes ieNeu ~ 4hs
1I,ear and remaining uncollected at the emu VI ~ ~
fanth wear thereafter. shall be adoed u Iii' 10
levy of the eleventh year ther ear teL, .o,,r+ of
The hill also provides that the totai Loe5
enc annual budget in year snail noi 80
a. per cent of the real estate taxes ana % r PEI
cent of the personal taxes levied IN oIidi sn,
ord that snv surplus OF taxes collected IN ans n
Sear shall be paid into the general runo IoI 'li0
reduction Of taxation ,-4,t.,o, AGAINST
The bill contains sweeping prohloltion aEsIl9I a9
.ba issue hereafter of corporate stock FOR opeI
ing EXPENSES except the expenses OF the bo1au ot -
I-s+ar S1InpIv and for the balance OF the pCeseII
year the operating expenses Of the DOCK DeP@i'-
ment. ,. 4. Ia baar the prac-
+ice of the city to issue ten-year assessiIIeiII ~
bonds in anticipation of the collection OF asses ~
rnentS FOR benefits account OF local lnlPIoNNez
ments but that such assessments w9en coaeDteo bds
we're not devoted the payment or the o1gus;
that approximately one million and a nan a. sI a.
surh assessments collected had been used 70 pa.
current running expenses of the city lnsIeau ~ ~
heing applied to the redemption OF assessment
bonds and that than $4,000 coo OF sssgS IGiI
rnAnts we're past due and uncolected- IHlS utIi
prohibits the issue of assessment ponos anu PLo
tides for the Issue of corporate stock IN pldCe
thereof