The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1868-08-21
FRIDAY MORNING. AUGUST II.
CITY FINANCES.

CITY FINANCES.
We have no disposition, in mere
spirit of fault-fndiDg, to criticise the
Report on City Finances laid before the
citizens Of Wheeling yesterday in the
columns of this journal. The honora-
bic Committee Of the Council have ex-
pressed their eminent satisfaction with
ths report, and considering the keen
anxiety manifested by that committee
during the past twelve months TO fur
nish the public with Information on
this subject, this expression on their
part must go far to disarm unfriendly
criticism. Nevertheless, having en-
deavured within the past six months to
convince the financial authorities Of
lhs city that it was their duty to make
detailed and explicit exhibits of their
transactions in that behalf, and that
it was the right OF every taxpayer in
tho city to demand such an exhibit,
COW that such report has been made,
We feel constrained to add few words
OF comment.
Assuming that this document shows
tic result OF all the transactions in
the various funds to which 1t relates,
from the beginning Of 1859 to the LIST
of January, lsGS, it seems 10 US TO be
neither an abstract nor "a detailed re-
port, but sort of cross between the
two 1t is too full for the one and too
meager for the other. 1t seems TO be
Intended to pass for detailed report,
yet it lacks one essential feature OF
such u report, that of dates. Only the
years are set down. and that only in a
part of the exhibits. No one can tell
when the transactions took place, ex-
cept that i; was some time between
January, 1859. and January, Is6s.
Itit was useful to make a detailed re-
port at all Il WAS useful to put in the
dules. 1t is impossible that anybody
but those making these exhibits can
tell anything about the transactions
described in them, except from data 10
be found nowhere but on the books of
those gentlemen. If was designed to
show people what they could confirm
only by consulting the Commissioners,
the report might as well have been
omitted altogether.
We do not, however, dwell upon this
feature OF the report as of great mo-
ment in the present case. We have en-
iire confidence, and we believe the pub
lie have, that the gentlemen entrusted
with the matters TO which 1t relates
will faithfully account for every dollar
that has come or may come to their
hunds. We refer TO it more as a prece-
dent that ought not to be set, because
in some hands such a line Of practice
might result in great injury to the city.
The agent cannot be greater than the
principal; and those who I'LL the city
treasury have the absolute right to all
desirable information in regard to the
application of its funds. 1t must al
ways be n dangerous line of policy
which ignores the public in the transact
ton OF it's own fiscal business and which
assumes that agents will be as honest
when they are not accountable
as when they are. And we will
add that it is in defense
of this principle, and in protest against
the utter disregard OF it which exists in
the conduct OF the fiscal affairs OF this
city, that every word that has appear
ed in these columns from first to last on
this subject has been written-not that
wo have any friends to serve or enc
mics to punish or any other ends to Rc-
complIsh,than 10 promote the true in
terests OF the city.
There is, however, point in this ex-
va rod tho .,
tention of the critical reader; and that
is, the very large sums ofmouey shown
to be "on hand" on the first day of last
January. One of these was "balance on
hand in guaranteed coupon ACCOUNT
which means, as we understand, mon
eys set apart exclusively for payment OF
interest on the guaranteed debt OF the
city. In view of this does 1T not seem
very singular that when last January
some seventy thousand dollars of this
interest became due to the United States
Treasury Department, and when dur
ing the ensuing Spring its payment
was demanded, it should be recessa-
~ to get an order from the council to
sell the city's Baltimore and Ohio Rail-
road stock-the most valuable of all
her asseis-to meet the demaudf 1.-THE
Commissioners had sT7, eco on hand, ex-
clnsively applicable TO the payment of
that class of claims, why was not SO.
600 oft applied, instead OF conyertlnv
the railroad stock1 There may be some
satisfactory explanation of this matter.
and we hope there is.
1t will be seen, also, that the sinking
fund account shows a balance on hand
on the first day of last January, O
more than $4,000, when the whole
transactions in that fund, In the las