New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-01-02
LONG TERN BONDS.
Charities Board Facors Them
for Future Institutions.

Albany. Jan. Long term bond issues
or the construction OF all state charitable
and correctional institutions will he advo-
Gated by the State Board of Charities in
its Forthcoming annual report TO the Legis
lature. III the establishment OF such insti-
tutions. the board points out, the future
reeds of the state have not always been
considered
The necessities OF the time received con-
sideration,' says the report, "but pro-
VISION for the increasing population, with
It's consequent requirements. has practi-
caliy been left 10 the coming years. Hence
many of :he state charitable institutions
were built as 2 rule. without the prior
preparation of layouts and other plans
which would show the completed form of
an institution and its approximate cost
The report continues:
As one result of this unbusinesslille pol
icy, few of the state charitable and refor-
hatory institutions have been completed.
ana the Legislature is requested each year
TO make special appropriation for their en-
largement. Even related institutions-those
belonging 10 the same group, although
fablished i'm different sections of the state,
been developed indcpendent,y when sound
policy would have co-ordinated them and
made the enlargement OF each one depend
ent upon the needs Of the group.
Several OF the state institutions are now
near completion; they may require addi-
uonal buildings or equipment. but in the
work OF associated institutions and the fut-
ure needs of the state should have influ~
comprehensive plans for their Institutions.
with ground layouts showing where
each proposed building will stand. This
board has conferred with several of the
boards OF managers, and upon its request
the state architect has made such lay
outs for several institutions which show
q will no oil at IN
each other when completed When the I'LL
innate capacity is determined. the num-
Der of buildings required and their proper
LOCATION and cost can be settled.
This course Will provide an estimate of
the cost of each building and other per-
maneDt improvements. and enable the Leg
iSlature to arrange appropriations so that
they may be distributed over many years
by an issue of construction bonds. instead
OF being paid. as at present, out of the or
binary annual income of the state. There
are good business reasons why permanent
cover the needs of the state for the next
fifty years or more should be chargeable in
part at least TO the future rather than TO
the immediate present.
The institutions are established 10 safe
guard the commonwealth in the years to
come, and bond issue with the provision
of sinking fund could distribute the cost
OF construction, so that the taxpayers
would be called upon TO pay in any one
for annual maintenance, a small proper
ton only of the total cost of construction.
In this way each year could meet its own
financial responsibilities better than under
the present plan. and could also provide
more literally for recognized needs. The
new institutions which should be estab
lished would be more likely TO receive at
tention, and a comprehensive programme
could be outlined embodying the true prin-
ciple for the future development OF the
state charitable and correctional policy.
As the population OF the state increases
there can be no doubt more institutions
will be needed. and the present is an au-
spicious time TO inaugurate the plan of
charitable and correctional institutions by
long term bond issues.