New-York tribune., 1909-01-07

portgnt that we should have suitable range OF ex-
In The restrictions designed to protect the policy
hoi,i-rs from eNtravaSant outayS under when I'M I'M
effected. But 1t is my desire that the laws should
sested change which are consistent with the
interests Of pocyhoders and md % bIlrds no' sPd oPd Te
II would seem advisable that provision should Be
made f0r the valuation securities held by inSt
ance comp panies upon fairer basis-thst IS WIN
due regard to their investment value-so that Lae
to temporary fluctuations in market GuoauonSi ai
osses II would seem that the plan adopted last
66,ad eS6 IN % 30 as G4T to proTd o the report Of secu
ties not in default at their inyesIment x4e og
through suitable charges and M credits of 1he nroe p SO
The Superintendent of Insurance Should also have
sGrance companies in manner similar to that
which has been authorized in the case Of banking
TRe present method Of having banks and ins--
is contrary TO sound policy We have abolished the
plan Of charging upon railroad coTpofau1nT te t ~
same course in connection with other ilst'' ilst' NJ
additional charge en- income; but the super
vision Of these enterprises is IN the interest al nf , a
people as any other governmental expense
BETTER CITY CHARTERS NEEDED.
Each year very large number OF Bills are intro
amendments for tire most part are susgeSef foy, ~
exigencies which seemed to demand escape Igsn @a
lie interest Their constant recurrence and tne
6RFfg 1 Hgar6 %f t fe mna Of o@a admnsTso
point the adyisabiiity Of widening the sphere o'
There should he CAREFUL study of the problem
of city charters. in order TO deyeeP : Rln r u'dl de-
tails of administration within the limits OF sep-
idtu4e - Eldui 90 il a. ana defeat their
gencies, communities must look Tor their saIyati2n
not to he state gov eI9~enti me Ro, ,,s g 1ee Htesn
while. and until improved charters are pTovlded
recommend that care he taken In amending exist
Ing charters. 50 that. wherever Practlcso.e t49 4
make further special legislation unnecessart'- .
There is no more serious question than I IhaL
Gt S'o' g afin the barieT Of the city was pro
larged has continued ITS worE TrihE i,a ssrSe
pay and ID are men Of Tg dnJeG P3Sesev m
ner to their important task II Is expected aIas
body at this session. and 1t should receive tue
most careful consideration. 80 % thu t,,aetf-
Of Your honorable body. And W. may congratu-
in the problems pressnted-an llter7S' iai eF$ 80.
charged with the duty Of investS ion ana ny me
important researches which have been made
through agencies supported by public spirlteo
gard the financial condition Of the city raises
most serious 4uest,Sn ms 20 I'M fn' nSsf pressing
ned for economy and seIf-restrant in admins
tration The financial condition Of the city IS
the more depIorabIe because OF the imperative
necessity Of securing improvement IN transll ; "a
more earnest Consideration. The cost OF new
su6ways, me PTepaUie vere 7sIsed upon
private credit. the liability of privately owned owned
naturally expected b. those who would engage
IN suen i.r rs tanda1c ~ scourage addi
tonal lines. in the view that this course may be
unlikely that We should he able in any event to
obtain proper measure OF reieF 'nsOHsTT 0{4T as as
suming, of course: that the estab!IShed rate or
excentious i'm the cases of routes which would be
regarded as aids to existing transportation lines
rapid transit lines was decided upon by the refer
enddIlm Of isa4 and there is no provision for
5uiIding 5i such lines with private capital except in
the of certain extensions or ana adtl,IoIs
nubiic expense is justified because OF the impor-
tance of securing comprehensive transit deVeio
Citv as whole and under conditions which
36t he rcgartied as attractive by individuals con-
sidering Investment solely for purposes OF
Suitable transit lines are absolutely necessary
means Of intercommunicatlon. and are as essen
tial to the citys life as streets and bridges Ine
fact that they have not been consl,dered N @ 1nr
same way merely attests the tsroiheSs Gt %I1
sroPos Of Thus Is apart acye ff ' n the actual
operation OF such enterltlIs Tor tiS S5ir{r
has secured far greater degree OF sitcienG1y IN
administration than hitherto has been Illus
Ne must take conditions as we find them. The
abe fct ana tRe necessity Of securing additionlI
b anSG arSed faGe that it Mond be not TO seek
any .eef through me fnlaT-gemfnt - [ 4r Sie Of cIsy ~
crtv and the lack Of soreIy needed improvements
municipal thrift should be enforced But II car
fected under an improved system OF adilia5Stfte
VIII Ne adequate to provide subwaNs in ADDITION 10
other municipal improvements that are necessary
RELIEF must be provided And there would seem 10
be no unwsdom or prompting TO eXtrayagaree IN
the adoption of the constitutional amendment with
regard to the debt limit which approved at
the last session Of the Legislature This relates to
the exclusion from the computation pt the dept
limit of such improvements as viii yield to the
city a revenue in excess Of maintenance, inter
es[ nj arnortiz9tion charges 4z.,,.o.-,az ,o-o,o
fore incurred by the city for rapid transit or dock
the extent to which the current net revenue re-
ceived Ly the city theIefrom shall meet the inter
STftSe IN 10y he sSaFie It foT
urgerty calls for action. and recommend that this
Ne must also consider wh,.her any other means
sruction of subways. And in view of our pressing
necessities It may be advisable to consider these
Independently of i general plan of action for the
STATUTORY CONSOLIDATION.
A noteworthy event is the completion of the
work OF consolidating general statutes. The
proach to the state. Scattered through the scores
of Volumes of the session laws are numerous gen
laws relating to the subjects. with appro-
pirate classification is most urgent This task has
ton .omposed Of dstinSushed lawyers
change the substance, Of the statutes of sub
stantive law. the purpose being To simpIir
cation and orderly arrangement. While 7 have NOT
been able to make close examination in detail of
the consolidated statutes that have been pre-
leading members OF the bar attests lis eTreIIenre