, 1859-06-15
WENTWOKTI,S ATTEMPT TO DE-
STROI THE PUBLIC CREDIT OF


'' This City Administration has already bor-
rowed on paper running not to exceed i year
srseral hundred thousand dollars, and for what
purpose no man can tell. the city is now max
ing nn permanent Improvements.
The charter prohibits the city from borrowing
over s1p'.'""' IN any year. It is proposed 10
Gull sums running less than Que year not Lor-
'or'd. mud thus have power to borrow *1U0 ,iArl
IN Il long time, and then run in debt still more
On short time. An injunction is applied for 10
arrest this cxtravagancc and prodigalty, this
violation oi'tllc pledges Of the Republican party,
X: to issue no more long bonds: and to cur
tm the expenses to ten ,nills."-Last Sumddy's
}j~,anrAt.
We are mt willing that a statement like
this, coming from q pretended Republican, shall
go abroad un.T'utradictcl, 10 be nscd in the
New York n1nncy market to lscrcdit the
financial character Of Chicago. Wcntworth's
av""'ed Object in writing the article from which
VIC make the extract, was to cmbarrass the
Administration Of Mr. Haincs and TO iniurc it
i'll the estimation Of tho public. He was act,1-
;Ited ny rcvengefnl motives He attempted to
make a tool Of the chief Executive officer. and
lc Mayor himself: hut faijing in this, he las
become as vcnomons as a copper-lread, and is
dcvoling I'LL his b:lse energies to break down
til" Administration.
The article in question tries To create tho
impression that Htaines is running career Of
"extravaSancc and rrcdigalay,' and plupging
the cIty into quaemirc of debt. To This nc
reply. that TIE liob'irs Of tie city hare .ot 1een
s"creasn d"||ar since tile day Wentworth
stepped out If the Mayors Office; aud we
challenge His e1-Honor to show the contrary.
When Wentworth became Mayor, he found q
large floating dc't in existence. He went to
work aad borrowed from the banks and money!
lcndcrs several hundred thousand dollars, at
high rates OF interest, issuing 4'short bonds -
therefor. His next step was to levy se1eh.ten
mills tax upon the property Of the city. Tic
proclaimed to the people, Tint with the pro-
ceeds Of this large tax he would pay off MI tf,c
old Dyer liabilities, and turn the city over to
Lis successor clear Of ali debts, dues and de-
maids. save the old funded debt, Our read.
ers Will hear US witness that these pledges
were made and repeated over md over again.
When his ycar expired. he announced with a
grand flourish in lis paper, that lie had re-
deemed all his promises, that the floating deb,
had all been paid of, that tie City Treasury
was full, and that henceforth Ten mills Of tax-
alton would suffice to carry on tile Municipal
Government. He succeeded in making the
people generally suppose that he was telling
the truth. He abused the confidence rcposed
in him by tile now Mayor, and actually got
Mr.. Halnes to baiieye that the city was out Of
debt, and that 4 ten mills tar would raise
enough money to meet ali drafts upon the Civ
Treasury; and it was not until after lie had
80 stated in his inaugural that ho discovered
he had been imposed upon.
When the first Of Aay, 1858, came, Mayor
Haines found that there was no money in tile
Treasury: that large quantity Of Went
wortl's ''short bonds were falling due; TINT
he would have to caHy on tln government for
eight months as bcst he could, until the falls
taxes would begin to come in. He had no
other possible recourse len than to borrow
money on bonds running until tue ncu taxes
~--"-N
would fall due.
Besides having to carry on the City Govern
mcnt on an empty Treasury, be Was called on to
pay SlG7,030 Of debt, not cent Of which was
incurred duriEs iia term, but was thrown
over from Ncntwurth's Administration upon
him. Dycr's Administration -shored upon
Wentworth's $2lo,860,- and {besides adding
100000 to the funded debit the latter showed
over upon Haines $le7. .03o-showing that,
notwithstanding he levied a seoenssen mills tar,
he only reduced the floating debt $43,830. As
he commenced no permanent improvements
save Dearborn Park, this result after all his
1audation is shabby showing, it must be con
fessed.
4 tar Of thirteen mills WIS assessed last year
This yielded $3.50 les. rxves.4e than the