New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-10-17
Mayor Mitchell Tells
About New Financial
Policy of City.
FIRST VISIT OF
ORGANIZATION HERE
Many Well Known Men Speak
For and Against Proposed
License Bill.

Ten years ago in the central section
Of the Empire State the Real Estate
Association OF the State of New YORK
WAS formed by few men who were
present on that occasion. Yesterday
Che organization opened its annual con-
vention IN this city. the day MARKING
the first time that the convention hd'
been held in the metropolis. AS riss,
dont William H. Mofhtt, who PRESIDED
ue W. !. the reason for this long
Seferred and momentous visit was not
That the organization had any douDts
~ heing welcome at any time IL chose
20 come. but il wanted to present
strong front when it met here TO eN-
nress its views and hear those OF otner
Tealtv representatives. 1t is now ZoV
strong and it expects its ranks to De
swelled 10 900 within few years.
The convention was opened In the
assembly hall of the Hote! Astor AZ
1880 O'Clock sharp by President MO-,
fit. II will continue to-day, one on
the most ENJOYABLE features OF TINS INC
second and closing day being the an,
nual dinner in the banquet room OF ~
Thomas ShallcroSs. jr., president OF
.hc National Association of Real Estate
EXCHANGES: William A. Marble, presl-
dent Of the Merchants Association
Wareus NJ. Marks. president OF the BOT
OUCH Of Manhattan, and Thomas D.
Oyerturf. first vice-presldent OF the
Real Estate Association OF the otate o.
New York. will be among the speakers.
Al the afternoon session yesterday
Mayor Mitchell told the local and up
state delegates what painstaklng ell
forts the present city administration
was making TO pare down the eXpehse
of the city government IN every OIa''i
this year. -. ,o -
at was announced some time ago
said Mayor Mitchell, that our eHoTtS
had resulted in the submission 10 me
Board of Estimate OF an eNecu'iNe
budget for those departments unoeI
tbe Jurisdiction of the Mayor IN
tnt.l ann less than the actual appro-
nr;stions for the year 1914. That is
sorethjng which has occurred TINS
year for the first time in the histor[
Of the city. We have before had
budgets that had been cut down TO
snm somewhat less than the budget De
fore. but never before was the aggre-
cate of the requests of the depaf'-
Tnents under the jurisdiction OF the
Mavor less than the actual aggregate
of the sums voted to those depart
,norts in the wear before. and | think
.hst am m a position to-day to con-
vev 70 YOU the gratifying intelligence
chat the appropriations when they are
made by the Board of Estimate VIII De
largely decreased under the dI3"
aces for the same departments loI
the year 1914-and let 1t be unuef
stood that we are not STRIVING 10 eI-
feet economy at the expense OF scr
We. .ho+
I'VE understand quite clearly that
e.9nomy that means impaired sesEi ne
pc arrestment of the progress o. rhe
Nv is bad economy and Will result
~. ae disastrouslv to the real estate
q, the city as it will TO any OF the
4 ,her interests in the city. We expect
!. GET out of those departments more
,.,S,ice and better service Tor less
,,onev than has been rendered by the
,ame departments on the old approprla..
.;ons-and that is the only KIND OF
economy and budget pairing that /
tma,,ine the taxpayers or cluzehs VI
sne civ of New York want. By cut
ling the departmental appropriations,
.f course we control the budget and
ve hold down the tax rate, but tnere
are >ther measures-some OF Whlch lhe
CITY las already taken anu so"e u
which it has IN contemplation-that are
directed to the same end. One step
that step has recently been taken-may
not specifically appear at first 10 be
n stem in the direction OF a lower
FAX rate, but in the long run | think
4 will appear to those who examine
into the question carefully, that II
mas been and will prove to be ster
in that direction. ! speak Of the ne"
policy that this city has laid down
With respect TO the financing Of perms'
rent public improvements.
Mayor Mitchell also said, among otner
things, in regard to this policy: "As
to ell permanent public improvements
of self-sustaining nature-m meaning
by that rapid transit, docks, terminals
and water supply-we will finance
them through the issue Of long term
fftv-year bonds, as heretofore; all
public improvements heretofore nu-
thorized, whether they have been ma
tured in contract or not, but as TO
which bonds have not been issued as
- q. will finance