The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1867-12-26
S13- ASn


' b-l. .a bi $1S,9SO.
or 10 3-4O MUS on Inc dollar OF present valuation
and so on, decreasing the principal sum wear by
year In the sum of $4,000 or as much more as may
be advisable, until the debt is extinguished. And
i must be borne in mind, that while the debt is
thus annually diminishing, in all probability our
popuati on and wealth will be annually increasing
mus materially reducing the per centage of annual
And here. can not forbear saying that in nv
opinion, should such arrangement be effected. we
should all be actually better of and richer the day
1t was completed, than we are now To illustrate:
Ii 1t Will take l0per cent, of the estimated pres
eht Vaine OF our property, to pay the debt upon a
fedrction OF three-iourths of its present amount
ana nave a property worth say 81 900; the actual
yalue OF my property is but $500, and nobody will
oy II az tiiat inquire so long the reduction re-
mains unaeeonipltshed; but il the debt be reduced
and funded, and wish to sell-within the first year
my property would he worth $1,000 less the anpu-
al tax Tor interest and sinking fund which should
be liable to pay-viz IA 4-l0 mills on the dollar.
or @9oo,6O, to say nothing Of the speculative value
which would attach to all property within the civ
lnlts, from the simple announcement that the debt
was ltnown Quantity; not burdensome; provided
Tor, and certain to be paid, which believe would
be % per cent, or double the acual estimated hur
den which would rest on the property after the debt
reduction ehal have taken place,
Believing that entire Wnanimity in any plan mr.
scheme for tho settlement of this yexatious busin.
ess is not aainable, yet that
to what promises to be OF benefit to every citizen
is desirable. l append form of heading of a M
mortal to the council, to be submitted for the sip
nature Of all resident taxpayers, or as MANY as can
be reached, as the first step In The process Of settle
ment, with the earnest hope that it may be numer.
ously signed after careful consideration and with
out prejudice
''fhe undersigned taxpayers and citizens Of Ken.
osha, believing that whatever may have been the
origin, orpreylons management OF the city debt il
is absolutely incumbent on the City Council TO de.
wise ways and means for compromise with the
holders 9th bonds, or other evidences of debt
against the City, upon basis within the ahilty Of
the taxpayers, 20 pay III full within the next twenty
years without resort to excessive taxation do here
by express our substantial approval of the eadin
features of the plan submitted at the Citizens
Meeting OF the inst, for an attempt to make
such compromise and earnestly request the Ooun
Gil to initiate proceedings to that end
NAMES< Aye No
believe the present city council are not ayerse tc
acting when they can be assured that the great body
Of the tax payers desire it. If they shouldbe then
the coming spring election council should be elected
with special reference TO permanent settlement Of
ent OF il would be preferable to the present state o.
doubt, uncertainty and distrust.
Isubmi5 also, form engagement to be presented
to the creditors OF the city Tor their gnates by the
| agent OF the city selected for that purposes
The undersigned holders in trust or in their owl
right OF the bonds securities judgments and eviden
ces ofdebt, purpoLtng TO be issued by, or entered
number, descril Ion and amount below stated dc
bonds OF the city Oh Kerosha to be issued to them by
the said city Of kenosha upon the approval of three
the surrender of the bonds ETC.. now held by them
(Such bonds to run twenty years. to be payable in the
rate OF per cent TO be secured by act of the legis
lature Of the State of Wisconsin providing for the an
nua levy of tax upon the real and personal property
Of the city, sufficient opay the interest semi-annua
and the principal within twenty years. will sur
render such bonds Judgments and evidences debt
the said city or its authorized agent will take
liea thereof the new bonds upon the basis reduc
mise of Indebtedness upon the admitted inability o.
SAID city to pay greater sum. Or we will take -
cents the dollar of the face value of sucn bonds OF
evidences of debt aforesaid ii paid by said city il
cash within - months from the date OF our sigma
lures to this agreement This agreement to be bind
ing upon both parties when the holders of three
fourtS of all the outstanding Indebtedness OF said city
ment, reduction and substitution, and not otherwise
Name OF holder.
Character of Debt.
Harbor Bonds. .................
No. Amount ....................
City Bonds, NEUTRALITY-SUSPICIOUS..
NO, Amount.
Scfip,.-... ''''.....s...........-..
COR any other suitable heading may suggest itself
adopted)
do not think it Advisable to submit form of bond
or the other statistical papers which will become
essary when this or any other scheme involving the
same process OF settlement shall be definitely adopted
leaving that for future action and adoption. .
Sucn, i'll BRIEF fellow citizens is the of the at
tempt would make to adjust these claims against the
city Retaining all my original repugnance and dislike
to their origin and previous management am nevertne
less dSrous TO dispose OF them upon basis of compar
tive fairness and equity, and to get rid of them
formidable obstacles to the increase of the City in
terpfise, population and wealth.
Respectfully submitted
Kenosha December 2Oth 1867.
s. Y BRA,DE