National Affairs: Mathemiracle
The City of Chicago lies in the County of Cook, which county is a corporate entity of no small importance. It has 4,000 employes; it spends $19,000,000 per annum. Both items have become an embarrassment. Last week the county treasurer announced that there was $125,000 in the treasury and a payroll of $450,000 due on Sept. 20. Probably Cook County will pay with i. o. u.'s. Cause of the difficulty: optimism about tax receipts. The county budget expected the county treasury to perform the following addition:
$8,500,000 (taxes) +$3,000,000 (fees) $19,120,331 (expenditures)
By virtue of a new state law, a reassessment of all property in the city was to be published this week.
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