New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-06-20

what new improvements are required and whether
these conform to the city plan. The city should
make up its mind that improvements cannot be
had without cost, and that borrowing only defers
and increases the cost, but does not eliminate It,
New York is in for period of complete dis
illusionment regarding the economy of putting of
until tomorrow the reckoning for great improve
ments that everybody wants and few desire to
pay for. The comforting thought in the situation
is that with establishment has come new sense
of responsibility the adoption of fiscal policy
and consideration by officials of the value Of
public funds which is unprecedented in the history
of the city.
New York is headed not toward bankruptcy, but
for the safe paths of fiscal confluence and admin
istrative restraint. The Augustan era Of city ex-
pansion is passed, perhaps, but the Of steady,
safe and constructive betterment of the city and
its government is definitely at hand.
The task of establishing all the habits of econ
omy in The city-not only among officials and en-
poyes, but among taxpayers and citizens in their
relation to the city-is only begun. There are
number Of hard problems still to be solved. But
the responsible city officials happily understand
them and working to solve them. No Ma
poleonc genius is required, but only goodwill,
earnestness and intelligence. These the city gov
any scolding agent # taxpayers help the city
solve its financial problems There is only one
way to solve them That is by strict adherence
to an intelligently formulated policy and the Wig
orcus pushing ahead of the great number of ad-
ministrative improvements which are now begun
recognized needed.
Some of those most closely related to the fnan-
cial conditions of the city, and which taxpayers
will do we'll to follow are the following:
Development Of a city plan.
Formulation OF public improvement pro-
gramme for one, two or three years
Development Of available resources of the city,
such as Jamaica Bay.
Establishment of a definite programme of up
keep and replacement for existing city properties
Cutting down temporary borrowing by advanc-
ing the date Of tax collection from May to Febru-
airy or January.
General reconstruction Of the city government
along efficient business lines, task that would
be greatly facilitated by adequate home rule pow
ers.
If New York City had no long term debt it's tax
rate would be about $780, and one would be
discussing the city's finances except to marvel at
their reasonable proportions.
Please keep clear the three general classes of
city expenditure;
and provided for from taxes and miscellaneous
revenues.
2. Local improvements generally paid for by
local assessments.
8. City improvements paid for out of the pro-
ceeds of city bonds.
These three divisions are only separate in logic
not in fact.
Some Of the local improvement cost is levied
against the entire city and finds its way into the
annual budget Until assessments paid city
bonds issued to pay for the improvements pending
collections charged up part Of the city debt
All the city improvement cost for non-selfsus-
tanning purposes finds its way into the annual
pense bill either by divertng revenues to sinking
funds that might otherwise go to decrease taxes
by adding a now formidable item to the budget
for so-called debt service-namely interest and
ins.alments the city debt.
Expressed in simple figures, if the city's annual
expenditures were 100000 (instead of the s270-