Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1867-02-12


| present year cannot be asccrtained.
Careful estimates have however been made,
| and the following statement may be relied upon
| as, in the aggregate below the real amount:
State taxes and licenses ........S22,O D
| County levy OBSERVATION-DISCLOSURES. lZ,WO
u. ). ID'Cp
Interest on Corporation dobt.............: I9,OO)
| Expenses of Corporation, Collecting oo,
taxes, &c................. 3".OO
Aggregate GOO
TO this should be added large amount lost
| by insolvency, and the inability OF many TO
pay levcs or taxes, and which therefore IN
| crcascs the burden upon men engaged III busl-
ness, and owning real estate Can the people
pay this large amount without utter ruin to
themselves? Let each one answer from his
own experience.
From the Federal and State taxes, 1.-THE lat
ter in all probability to be largely increased By
the present Lcgisaturc) there is no escape
The only portion we can control in some degree
is that laid by the Corporation
TO effect this object let the same rigid ccon
omy be introduced into the affairs OF the Cor
poraton as we have been compelled to exercise
in our families Let the salaries Of the Cor
rolatnn officers lie reduced TO the loves: pos
Sibe amount for which we can oht"lo the ser
vices Of cor Delcnt men, without regard TO the
persons holding them. The terms OF the pre-
sent incumbent3 expire IN Alarch, and Ii the
candidates are not satisfied with the salary pro-
posed they can decline an election. Let some
| Of the Offices be dispensed with entirely, or
consolidated with Others.
Justice 10 ourselves and the creditors Of the
corporation demands this course.
Without going into dcts lis let Us instance che
or two cases. 1t is we'll known that the leeil
mate duties of the Mayor (proyidcd he viii
confinc himself to thcm) will,not occupy him,
on an average, more than one hour day. and
Go not interfere with the successful prosecution
of any other business. 1t would therefore
seem that $4OO per annum would be SD ample
c0mpcnsa!Un--Gvc ii required, as be should
be- TO pay over al fees Of office into the treasury.
Formerly when there was one body known as
| the Common Council. the duties OF the Auditor
and Clerk CT CounciI were performed by one
person. for about $500. Now the Auditor re-
cciv,s 5000 and the Clerk Of Council $500.
| Let i, he understood that the Auditor shall be
cx-ofcio Clerk Of the Council, at an annual
salary CT $500, and there are numbers OF quail.
flied persons who will eagerly seek these Offices.
| So in regard to other places which will readily
rccur to any one. We can then rc0rgan2e
more efficient police system Tor day and night
duty, pay them suitable compensation, and
dim!oi.h the expenses Of the city government.
This rctrenchment being effected, and having
| takIn one step towards doing Justice to our
creditors there will remain something sill to be
accomplished.
| \ large portion Of our corporation stock was
purchased by its present holders at i heavy
| discount. Estimating the actual cost to then
in money, and taking into consideration the TACT
| that they have received interest on the stock at
par, they can stand large abatement without
serious loss. At the present time this stock
can scarcely be said to have a marketable value,
| end If the process Of funding goes on, and the
interest is not regularly paid it must continue
10 diminish in value. 1t is therefore to the in
tcrcs1 OF the stockholders, as well as the cor
poration that compromise should be made.
| Will the creditors consent to this?
4 large portion of them would do so readily,
| if assured that the interest on the reduced
stock could and would be hereafter, promptly
paid Some, of course, would demand the
| ';pound Of flesh, " or the last dollar Of priDc-
| ple and interest. TO force these, application
| should at once be made to the Legislature, to
stay the collection Of taxes on account OF IN
| terest on the Corporation Debt for three years
Tut with authority to the City Council to issue
new bonds at the rate Of GO per cent on the
the same. in exchange for the old bonds, and
to levy tax for the payment Of interest," there
| on, and also, to provide a sinking fund for the
| redemption of the debt. \ portion, but 1t Is
probable Il very small numb Der might refuse to
accedc to this plan, but large majority would
he cGmreIIcd to do 50. AMI in any event it would
give IS "brcatLing spell" within which our
State will have recovered from the ragagcs Of
war. and we shall be able to sustain heavier
burden
To this proposition some will exclaim Rcpu
diation Be not frightened at this. If it be
Reputation, then Virginia has partially repu
dated for the past two years and Is DOW pre-
pairing to scale the interest on her public debt.
IF this be Reputation then some Of the
most honorable citizens ct Alexandria, have, by
compromising with their creditors, done this
very thing. If, however, the honor Of States
and individuals is not furnished, when compell-
&c by stern necessity to make compromise,
how can it be charged that the city OF AleXan-
dric. whose resources are so much less in pro
portion to her obligations than either the Stale
or individuals. be charged with Rcpudiation.
Let such suggestion be ''whlsted down the
wind"
This subject 10 its legal and other aspects
night be more fully elaborated and may be
again recurred to- as it embraces the vital |
interest Of this community and has an ilnpor |
tant bearing upon its future welfare. II sue |
cess(uliy carried out, it would greatly reduce
the taxes now bearing so heavily upon our
trade and industry.
Without claiming any originality for this
plan, to which | am not particularly welded, |
if a better can be matured, and 10 order that
these suggestions may have only such weight
as nv friends may attach to MY opinion, and |
with no personal motive in view, have felt it
my duty to sign my name to this communlca-
ton. CHARLES +. STUART.