New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-04-05
Declares Proposed Levy
Would Amount Almost
to COnfiSCatiOn.
INDIRECT IMPOSTS
ADEQUATE, HE SAYS
Surplus of 100000 Will Result
if State Keeps Budget
Within S48,000,00O.

Real estate interests, says President
McAneny of the Board of Aldermen in
a statement issued last night, must pro-
test the direct state tax. They must
do it for their own protection. If
a direct tax is imposed. Mr.. McAneny
predicts, New York real estate will be
taxed 40 a degree little short of con-
tiscatory."
TO avoid the extraordinary rate
which, under the most favorable con-
ditions, would top s., the city's actlvi-
ties, Mr.. McAncny points out, would
have to be curtailed in practically
every department." The alternative IS
welnigh impossible, in his view. lie
thinks civic and business organizations
should Immediately and carefui'y
scrutinize the tax measures and appear
TO both houses Of the Legislature "
practise the utmost economy.
"Wv own examination" he says, con
vinccs me that the additional revenues
IN he secured from the new indirect
taxes that Senator Brown very prop
erlv proposes-f the yield from these
is only $4,000 ,00O-woull be more than
sufficient TO avoid the necessity OF any
direct tax whatsoever
Mr.. McAneny finds no reason to be-
licve the states revenues Tor inc year
ending September so, 1915, Will ran
below the estimated s4S,744,549, which
includes an estimated surplus for the
present fiscal year Of S5,51,f64: Inc
closing of the Stock Exchange. he ad-
mits. will affect the receipts from the
stock transfer tax, but he foresees a
"substantial increase" in revenue from
the motor tax. On the basis OF the
current years expenditures, with GER
tain emergency items added, the appro-
priations of the present Legislature
might readily be kept within S4o,OoV,-
600, made up as follows:
Accommodation and supply bills figured at
the iqll rato q the appropriations OF me 900
Extra cosi o. the oons'''u'oN'' $4,000
state all for tho improvement " 1850 1000
,,. nlsnrsys and repair or state hseays
Al tho rate II last years appropriations 1s2 'o0o
Workncn's compensation. .-.-. ....-.-i '~'''''
Maintenance con,iTi''iS2n. ,aI rcHn4 $4,000
hnfdirgs a. recommended by the Gov ..o.
cruor aud legislative COMMISSION G ono ooo
Sinking fund payments '''''''''''''''' $3.50
ro,., .................. s47ss3.OcO
New York City would pay 70 per
cont of a direct tax, Mr.. McAneny
noints out. 1t is a crisis, he says
when personal and political considera-
lions must be forgotten and the argu,
ments of simple business need ana
common sense pushed vigorously.
II the legislators get their axes oht
and how diligently at the state ex-
rnnditures. keeping them under $685.
600 0OO. Mr.. McAneny promises them
surplus of 100000 on September ~
1916. the end of the fiscal year. sen
ator Browns indirect taxes, he tnihhS'
would increase this sum to enough 90
nrovide comfortable working cash
surplus and take care OF any SHRINK
age that might develop in revenues.
Even for the barge canal work Mr..
ucAnenv aces no need of direct tax.
The amount required for that purpose
hos been overestimated, he thinks.
Nearly s3.oOO,O0O derived from premi-
INNS on previous bond sales, is IN the
canal sinking fund, he points out. lie
declares that it is not needed thcre
and was nut there under legislative en-,
actment and not under constitutions
"Thc natural way" he says, I'm
which TO raise the money needed 10
complete the barge canal, IS through
an additional bond issue submitted 10
a referendum vote at the next election
No part of the canal construction WORK
should be charged directly TO the peo-
ple in an annual tax"