Saint Paul weekly Minnesotian. [volume] (Saint Paul, Minn.) 1858-1859, 1858-05-15

$l,44S %
Aa %s slsy bonds Tor evee 81
sl2ssl 6
Showing an excess of liabilities over assets o.
$l2,39l IS.
By the City Treasures report it appears
that the tax roll amounted to $117,SO7 80
which sum is far greater than the sum total o.
all the bonds outstanding of the city, and
proves that if necessary, these bonds could be
paid, both principal and interest, by the tax O
one year. The year previous the tax rol
amounted to but $4S, 7S6 %, according to the
Treasures report.
This state of things should inspire us with
confidence in the resources and strength OF oul
growing and enterprising city, and guarantee
to us abroad high standard of public credit
1t is gratifying in this connection to remark
that the bonds heretofore issued have been ne
burthen to our citizens; that the interest has
always been promptly met and that in every
instance where such bonds have been issued
careful provision has been made for the pay
ment, which has proved more than adequate
for the purpose.
1t has been customary to issue orders or
the Treasurer, in antici patton of the income
claims against the city. These orders
abundantly secured by them, necessarily de-
preciate in proportion to the amount outstan-
ding, and tge length of time before they are
likely to be redeemed. 1t would seem un-
Just that the holders of these orders receive nc
interest, although, in fact, obliged to wait a
length of time for actual payment | would
invite the attention of the Council to this sub
ject, and recommend that this evil be RENE
died Section Z, of chapter ~. of the new
city charter, provides that the Common COun-
Gil may, during any fiscal year, by vote Of
two-thirds, issue the bonds of said city bear
ing interest not exceeding twelve per cent.
per annum, and for time not exceeding one
year. in such amounts and under such regu-
lations as the Common Council may prescribe,
in anticipation of the taxes and revenues Of
such fiscal year. Provided, that the amount
of such bonds outstanding shall not at any
one time exceed one-third of such taxes and
sevenues and provided that such bonds, or
the proceeds thereof, shall be applied to the
same purposes as the taxes and revenues in
anticipation whereof they may be issued.
By judicious exercise of this power, a
fund might always be kept in the Treasury,
to meet the current orders that might be is
issued from time to time, which would of
course be then always at par, and in time
circulate and answer the purpose of exchange
throughout our State This measure would
also keep the credit of the city at high STAN
dard.
When the difficulties and embarrassment
of the times are considered, and the liberal
action of the city at a time of general depres-
sion, in assuming the large amount of Street
Certificates and in providing currency for
the community, by the issuance of the scrip
or city orders it must be as source Of
cOngratulation to every one to find our at
fairs in so healthful and prosperous a condi-
ton.
The great preparations which are being
made to develope our country and improve
our vicinity b., means of Railroads, will nee
essarily involve the disbursement within a
short time in our midst of large sums of mo-
ney, and assist in relieving the temporary
embarrassment of the times.
At the present session of the Legislature
an act was passed authorizing the city tc
issue its bonds to the amount of $4,000 fol
the purpose of connecting the upper and low
er levee; this is a subject of the utmost I'M
portance AMI demands the speedy action Of
the Council; as we are now situated, the
lower landing is entirely separated and dis
connected from the upper. The difficulties
and inconvenience which business men ex-
perience in this respect are too notorious to
require comment This connection is also
needed for the general improvement of tho
city, and demanded by our increasing trade.
There are certain subjects to which l beg
l. of fln
system of markets has proved itself made
quate to the growing wants and extended pop
ulation of our city. The present market though
in a central position is too distant from the
lower and upper wards and the expenses O
maintaining it far exceeds the rents for stall:
received This inconvenience has led to the
licensing private markets and stalls throughout
the city, whereby the vctualers and vendors
of produce and provisions have becOm. scat
tered and separated, and the rules and regu
lations respecting markets have been rendered
lax and inefficient; to remedy the evil | would
recommend that there should be two public
markets established in the city one upor
the division line between the First and Sec
ond Wards and one upon the division line be
tween the Third and Fourth Wards; and thai
sites should be procured for that purpose ant
buildings erected upon the same, to be charg
ed TO the appropriate Ward fund. These mar
kets could be built light and with due regart
to ventilation, and am satisfied that at
easonable expense proper accommodations
could be made in each for vendors of produce
vegetables &c.And ordinances and regulation.
should be established to ensure Order-clean
illness and to protect the publicfrom imposition
The market of many cities are pointed to will
pride by the citizens, and surrounded as W,
are by fertile region, with abundance o
material at hand, it is highly important tina
ST. Paul should establish her own markets
and that they should be of such characte
as would be creditable to the city
Recent losses and disa sters by fire also de
monstrate the necessity of organizing an ef
fective fire department which will not onl,
protect our citizens from loss but serve greatly
to diminish the eXOrbitant rates of fire in
surance now charged. The city has already
contracted for two fire engines with hose ant
appropriate apparatus, and provided for tn
expenditure necessary for this purpose.
think, however, that it would be advisable t.
procure an additional fire engine so that the.
might be better distributed through the city
| l.