Year: 1871

PROBABLE AMOUNT TO BE RA1sED-THE OPERA


TON OF THE TWO PER CENT ACT.


The Board of Supervisors meets to-day for
the purpose of receiving and confirming the annual AS
sessment Rolls, and evyng the taxes which have been
determined by the Board of ApportOnment, the
amount which, the socaled Two Per Cent law,
may not exceed percent the assessed valuation OF
taxable property


Under former administrations Of local finances 1t
was the uniform custom of the Controller to prepare de-
tailed estimates of the appropriations required to be
made for every object and purpose OF City and
County expenditures, which estimates submit
ted to the Common Council and Supervisors respectively
being printed time before they were acted upon
But all this s changed. II such estimates are made
by the Controller for the Of the Board OF Apporon
ment, the public ia not informed Of them, nor of the
action of such Board thereupon further than the final
result arrived at Although the minutes Of the Board
are understood to be printed copies not furnished
for public inspection.


1t conecured that the total amount Of appropria-
tions for both City and County purposes this year will
fall little short Of $3oooo0 Assuming that the assessed
valuations OF property wl amount to 81 200 100000, which
is probably not far from truth levy Of two per cent
would produce.
The two ipnde known as the General


SropyeODs s ystE O9y according to the


81 general SVs1 sRS s = s city Ss





good that deSie9cy they HntH do that sT %uGh b.


Assa@fns ssaHeG a. the above 6safes to be correct


there win remain to be raised from other


sources..... *,7oooOo


To meet the total appropriations as above. 1000


The publjshed remarks OF Mr.. Osborn at tho recent
meeting Of the Joint Committee indicate that It is the
intention Of the Controller to provide for the above de-
aciency Of some s,5oOOo by the issue Of consolidated
fha 10 aIa IN
tnorze; but 1t certainly never was intended by many
who favored what they supposed to be restriction OF
appropratons to per cent the taxable value OF
property to allow any such construction TO Dc placed
upon that act It claimed by Tweed and others that
the law efectuay prevented any excess OF appropria
tons and expenditures beyond two per cent?
found that they may appropriate an unlimited amount
and raise pay the revenue bonds
ing portion of such bonds by the tax levy and issuing
consolidated stock for the remainder while the redemp
ton OF this consolidated stock s to be provided for by
taxation year 1901 1t will thus be seen that prac-
tically what known the Two Per Cent law means
that while only two per cent the assessed value OF
taxable property may be levied in 1871, an unlimited
amount may be raised i'll and on account OF the same
| year payable in 1901.


The loans of to-day city and county revenue bonds
of ls and which purport to be based the tax levy
Of the current year. may tomorrow be redeemed, not
through means, but through proceeds OF this new
| and deceptive Tammany consolidated stock.


tits TO be hoped that the tax will not be levied to-day
until opportunity has been had to examine the
amounts and the purposes for which they are to be
raised There s evidently design to conceal from the
public any knowledge Of these matters until after the
tax has levied when the only consolation the people
will have will be the inquiry, What are you gong 10 90
| about lei"


TIE REQUEST OF THE CITIZENS COMMITTEE FOR
POWER TO SEND FOR PERSONS AND PAPERS.
There was considerable discussion in and
about the City Hall and CourtHouse, on Saturday,
in reference 10 Mr.. Booths resolution requesting the
Board Of Supervisors authorize their Committee TO
send for persons and papers and take testimony which
was passed the meeting Of the Joint Committee held
on Thursday last 1t soutly conended by the sym
pathizcrs with the Ring that the Board would refuse
to confer any such authority; but 1t was said, on
the other hand that the Citizens Committee, OF
Booth Is chairman, distinctly promised by tho
Supervisors that such power would be granted and that
their acceptance OF their very task was given
with that express understanding this be so 1t cannot
be doubted the request Of the Joint Committee will
he promptly granted. The Common Council. II is said,
power the Board Of Supervisors to
authorize committees of their body 10 make thorough
and exhaustive examinations" by compelling the at
tendance persons and the production Of papers Mr.
Booth s understood have expressed the strongest
hdence that the Board OF Supervisors will grant the
power asked for, in compliance with the promise made
as condition of the Committees undertaking. the duties
expected Of them. -