The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1912-02-10

New York, Feb. 1O.-That Father
Knickerbocker has at last succeeded in
contracting a municipal Indebtedness
exceeding the national debt of Uncle
Sam is the startling situation re-
vealed by the report which the comp
troller has just submitted to Mayor
Gaynor. This report shows that the
gross Indebtedness Of New York City
now amounts to the enormous sum OF
s 1887, 81, 71S, which in round num-
bers in $4,000 more than the public
indebtedness OF the United States
government. That an income far
greater than that enjoyed by any
crowned head Is necessary to provide
for the municipal needs is indicated
by the fact that during the past year
the city's funded debt was increased
by the tidy sum Of $71,0OO, 900, Of which
more than S44,O00,O 900 represents
bonds issued for rapid transit work
and the great new water
supply system. Enormous as is
his financial Indebtedness, however.
Father Knickerbocker's situation is
not so involved as might appear
on the surface. While the total debt
exceeds $1,000, 100000, the net
debt is considerably less than that
sum by reason of the fact that about
$3.50, 600, 600 of the Indebtedness is rep
resented either by bonds held in the
sinking fund or by s~elf-sustaining
bonds which are exempt. These fac
tors reduce the net debt with contract
obligations outstanding TO $3.50, 900 900
and leaves the borrowing power of the
city at 1925, 0O0, 900. Even these amel
iorating figures, however, cannot dis
guise the fact that in it's financial OPP
erations this city within a Compare
lively few number Of years is prac-
tically certain far to outstrip the ma
tional government.
That New York has formulated a
new declaration Of independence from
England, or rather London. so far as
the fashions Of mems wearing apparel
is concerned, is indicated by the fig
ures covering the importation of Brit
ish made clothing for the past year.
While feminine America continues TO
look to Europe and particularly Paris
for guidance as to what is shall or
shall not wear, masculine America
SG6UlS IdDlulN " ne dooGA III y hANCr
pendence OF foreign made styles. Just
how this change is to be accounted for.
in view of the fact that two decades
ago foreign-made clothing was sup
posed to be the most correct thing
among New York's best known men
lis attributed to several causes, among
which is the import duty and the
growing divulgence OF English and
American Wastes. That men are no
more free than women from the ne
cessity Of some established standard
OF fashion is indicated by the fact that
nearly 1000 tailors with a gross bust
ness amounting TO about $4,000, 600 an
nually will meet here next week at the
convention OF the National Associa-
ton Of Merchant Tailors, at which the
styles for the ensuing year will prac-
ticaIly be decided upon. Man, however.
seems to ave n great advantage
over woman In this connection since
while no one a be found who is
willing to believe that such recent in
novations as the hobble skirt aim at
comfort, it is well known that the
changes made by the association from
year to year are based first Of all on
this practical point, so that mere man
seems TO be safe at least from the ex-
treme fashions which Of late years
have applied TO me
While trusts usually are supposed
to be advocates Of a high tariff on
their products, a curious reversal Of
this position has been brought out here
by the Developments in connection
with the sugar inquiry just conclud-
ed. The sugar trust instead OF fight
ing the maintenance of the present
duties on raw sugar Is in favor OF their
entire abolition, or failing that a con-
siderable reduction. The reason for
this position is clear enough to those
familiar with existing conditions. for
the refining industry Is almost EN-
tirely in the hands of the trust which
uses chiefly the foreign grown raw
product. ON tho other hSnd the rapid
increase Of American grown sugar
attending the growth OF sugar beets
in this country is building up formid-
able independent refining interests
that are likely it unchecked to threaten
the domination Of the trust. with the
removal of the customs barrier ii is
believed here the trust would he able
To crush out this Industry anT Arefafns