New-York tribune., 1909-03-03
DEBT LIMIT BIG ISSUE
4dUocates of amendment Not DIS
couraged by Cassidy Report.
rBy telegram to The Tribune. ]


Albany. March 2-Now that the report Of the
Cassidy Merritt committee, which investigated New
York City's financial condition, has placed ma
pority of that committee on record against the
constitutional amendment eXempting income pro-
ducing bonds from the cItys debt limit, the ques-
ton of the repassage of that amendment Will be-
come of the important issues of the legislative
session Supporters of that amendment declare
that whether or not the city has now the deot
limit put out by that committee. this constitu-
tionaI amendment is the quickest and surest way
of providing money for New Yorks much heeueu
transit facilities. They promise a hot hght IL the
opposition Of the committee produces much oppo-
siticn in the Legislature.
This phase of the committees report seems hkeiy'
at present to carry weight in the Legislature
only because 1t has the support of Assemhlynlan
Merritt, majority leader OF the lower mousse ANU
his belief in the unwisdom Of repassfng the con
stitutonal amendment. he made plain last nlsht
and to-day, is only relative. since he taxes 'he
ground that with the alleged extravaganza ana
waste rotting New York's business system there
would be little use in placing more money III ile
hands of the city fathers to squander. Onder
new form of charter this might be ooviated' ne
points out
Advocates Of the amendment have been almost
ubIIant to-day over the fact that the CASSIDY COM
mittee did not make unanimous report on tle
debit limit proposition, but split to 3. They hgure
that the strong minority reports Will put the ques-
+tor hefore the Legislature its merits. without
anv "acceleratng' influence from strong COM
r,i+tae report against it. This is more than they
had boped for they knew that the transit interests
IN New York City had been working overtime 10
affect the Judgment OF the committee adversely
+ou-a rd the constitutional amendment, and theY
thought at time that unanimous report
against II would be made
F2,,t their troubles are over by any means
New York and Brooklyn members who want this
change In the constitution figure that this year
is the danger time for their project. and declare
that If the people in their bailiwcks do not snow
how strongly they want this amendment there WIN
he comparatvey little chance for getting 1t passed
this wear Especially they looking to the fuo-
lie Service Commission in the 1st District to be-
come active now in the campaign for the passage
Of the amendment. They point out that the com
missions reputation and TO some degree its OFF,
ciaI life are involved In this project and they
think It Is up the commission TO take the ieeo III
tho demand for the adoption of this amendment
4 hearing before the Senate Judiciary Commit
tee has been for the Travis concurrent resoiu-
ton Of March Il. There is some possioiity that
that date may be changed owing TO other hearings
.sear,hIyrnan Warren / Lee. who introduced the
measure in the Lower House last year Will relntro-
duce Il within few days
"Rrooklvn is practically a unit in the demand
Tor the rcpa ssage OF this amendment. II am any
.so 90 tho sentiment" declared Senator Travis
TO-DAY 1T means enough to any citizen OF New
York but II comes little nearer TO US OF brooklyn
because we haven't the transit facilities that Man
haitian has The opposition TO this propoSal seems
TO me to hinge on the lact tha' '"e Iuo'c
Service Commission has determined that the
T-ourth avenue subway shall he the first built and
the contention that that enterprise would not be
nroatabn Now. it must be remembered that the
line has not been laid out to extend 10 Coney
Island vet but only as far 10Th street-a COM
parativeIy we'll populated section And there's thls
10 he considered: the city FOR two years has been
drawing heavy take out OF all that section be-
cause Of the inflated values on property there be-
cause Of this proposed subway. Now. II wouidht
HNvur those Tannt
af,.r having bed them for taxes this subway
flor That's what Il amounts to- which they haven't
got vet ! expect there will be meetings all over
TrookIyn demanding the repassage OF this amend
ment There's - be a big meeting at cooper
Union March ls where the whole question VIII be
taken m comprehensivcly. and I hope then to
hear the Cassidy commmittees report discussed
win a due regard to IT'S reasoning