The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1857-07-07

third, innocent party, to whom the city
woul a be liable and then fail
I The case looks to plain matter Of fsc1
nan, As II the contractors wees hiring tn
4 si1 Of Keokuk to do certain things, isstssl
Of their being hired BY the city. They make
the city pay for doing oil the work. and ther
pocket oil the profits.
Again on the almost impossible supposi.
ton that ut the end Of the IL years the pop
ulation Of the city Of Ksokuk should be no
moro than Is 900! This, it may be urged,
10 the risk Of the contractors. Yes, tre-
mendous risk! Let each citizen judge how
grea. this risk is. But suppose it should be
even so; how would the contractors come
out under this proposed agreement, even
| then! They will have received just twelve
times 1900 only eight hundred and
serenty air thousand dollar, for whatp For
having expended say, $3.50, 900; and, allow
ing 10 per cent per annam interest for II
years, $500, 900 in interest, OK total OF
I 550, 900; leaving the nice profit Of &326, 900,
any way you can 6x it, without any contin-
gency about it, with $500, 900 city bonds all
the time in their hands to hold the city to
the bargain.
Under this supposition, the average Popu-
lation would be q, 900, orsay 1888 fsnilies,
each family paying annually tUsnsy sro
dollars. Towards the last, whom there should
be Is 900 inhabitants, or say AGO families,
each family would pay about $l7l yearly
to these contractors. Now 10 Philadslphis
city, the water rent Of an ordinary family
is only about Is per annun, including every
thing.
Permit plain citizen to ask, what 10 the
use Of oil this circumlocution Of e300, 900
city bonds, and this enormous annual tax TO
be sadiled in this community forever. Yes,
il would be an incubus on this city forever,
Why should we have mysti6sd agreement,
with the city Issuing bonds and contractors
agreeing to pay the interest and principal
thereon and require tho city to pay tUo
prices for the work in cash, besides, to the
same men.
Why not adopt . common sense course
from the beginning? The city and the cisi-
Gems want water works, at what they are
worth-no more, no less. What would .
man Of business do in his own case! Why
ASCERTAIN from disintersstsd, nnquestionabls
sources, what the works ought to cost, then
make square contract, accordingly; either
for cash, or for bonds; or il willing parties
may appear, for the consideration Of what
the contractors might hope to realise from
water rents from an augmsnsing population,
for q stipulated but limited period. He
would not bother the subject with the mills
per inhabitant, per day. (Every additional
child, black or white or pauper, would add
8 mills day to this proposed contract
That 5 mills matter is very profound and
ingenious device to persuade our council
and citizens that they were swallowing =
Homeopathic sugar coated little pill, when |
they were in reality about to gulp down an |
sn.ire Allopathic Apothecariss' shop. Only
.:n,lls day, per head sounds nice and
mail but $4,000 per annum, gradually
lCgmenting in twelve years to 42ls, 900 per
lnsum, does not sound, or look quite 30
riaing.
But in case this remarkable proposition 10
o be accepted, lot me suggest very tritiing
'hange, merely for the purpose Of taking
rare of the $500, 900 bonds. Ask Of Messrs.
6ilson 4 Co., that they should leave mills
tut OF the 8, to be deposited in some inssitu-
ion ~ sinking fund for redeeming the
'onds; to be put out at 10 per cent. interest
y the city every year. 1t is only too little !
Mills. To be sure il 10 one-fourth Of the
vhole, or SIS, $50 the first year. Small ~
t may seem, would be willing to accept Of
! - Jul security for the eventual payment
II the principal of the bonds.
Two Cornish Engines, Of sufficient power,
'ught not to cost with the fixtures more than
100 900, and not more than Eighty Thou
and dollars need be expended 10 addition to
upply Is, 600 inhabitants with abundance OF
vater, for manufacturing and domestic pur-
'oscs. There is no real necessity 1t present,
or providing for any larger expenditure.
fou mention thirty miles Of pipes. The cost
i pipes depends on the size. A IL inch
,ipe will cost more than three times % much
Is 9 inch pipe.
If there are any errors in stating the prem
SEES, in the deductions thsrefrom, or in the
calculations herewith presented, let some
,ne publicly correct them, ct once. Either
am laundering, or the Council are on the
sdge of . blunder; and We are ali interested
n knowing the truth and in upholding the
srsdit Of our city. That credit is indeed Of
,itol importance, and should be handled
,rudently. advocate water works, to be
built for what they are worth, allowing q
lair profit to the builders.
"ISoUiRER."
P. s. Some Of our moro sanguins citizens
would scarcely be willing to compound for
,nly $1,000 inhabitsnss 10 1870. But even
IN that assumption, it would be monstrous
Zone sided" contract, without the issue Of
any city bonds. Let the city throw the mat
Tor open, il they want to SEQ really and truly
What can be done!
FEArHKREp AFpEcrIox. -That birds love.
we have indistinctivc belief. But, in tho