The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1868-06-20

interest on her debt Of S. OOO 600, at per cent.
per annum. Without attempting to uace out
the causes OF. this enormous debt, or the rea-
sons for this large deficit, let us take hold Of
this monster OF responsibility as it is, and pre-
vent its future unmanagasble accumulation,
And, gentlemen,iet us thoroughly under, :,
stand to what dangers this $500, 900 deficit, If
allowed yearly to be piled, up with its interest,
would inevitably bring u.s.. Starting with debt
of S. 900 000 in twenty years the entire real es-
tate Of the city, now assessed at $O, ,0OO,
would be absorbed; but long before the lapse
of that time, in say ten or twelve years, as
'srats leave q sinking ship" 30 will our inhabi-
tants leave us with what property they y can an
carry, and bankruptcy Or reputation, with all
its attendant evils, will hold those remaining.
Can This evil, by any means, be wrested
Can the interest on our citys debt be regular
ly and promptly paid2 Can the daily and year
ly expenses of the city government also be
promptly metz AS an answer use the simple
and expressive word-yes! r.. t-i.
A. system. of taxation can be iuaugursted by
which mnny-the business men and those con-
nected-who are now too heavily taxed, will be
relieved, and none will be more oppresslvely
burdened than they now are. :,
A system of expenditure can be inangurated
by which many evils as they exist will cease.
and large amounts may be saved, instead Of
being, ,as far as the city is concerned, squan-
QereQ ana, lost. - tH.g,u: :
! Yes, gentlemen, system Of taxation and
expenditure jcan be inaugurated, from the
benefits of which the widow, the orphan, and
all dependent upon city interest, shall have
something besides shadow to lean upon-a
system by which our stocks and bonds shall be
brought up to where any six per cont: stock
ought to be; in fact q system by which, and
through which, our city's credit will be, as it
once was, equal 10 any, surpassed 6y none.
n r oil 4I11 and oh
be done, and for one looking to this desired
end, I trust the resolution will be adopted.
The Mayor appointed the following commit
tee, viz: Aldermen Clark, GeddiDgs, Oney,
Parker and Howard. t ::
Alderman Clark offered the following resolu-
ton, which was adopted:
ResoiUed, That o committee of three be ap.
pointed by his Honor the Mayor to confer with
the owners of property on Queen-street, be-
tween King and Meeting, in relation to the
probable cose Of the proposed widening OF that
street. - >fai' a'--. .
. The Mayor appointed Alderman Clark, Potter
and Cunningham.
Alderman Parker introduced the following
resolution: 80, -,rl
Reso.ued, That special committee Of three
be appointed by his Honor the Mayor to inves-
tigate the relations OF the city with the Charles
ton College, rand that the said committee have
power to act.rff' ~ i,'F yfyigs-Hs' - sis'i's
After little discussion, it was decided that
all such matters would come under the super
vision of the Special Committee on Retrench-
iment.s The resolution was Withdrawn.
Alderman Parker introduced the following re-
solution, which took the same course: '..r
.Resotoed, That special committee Of three
be appointed upon the Police Department.
rsi'' ees UNFINISHED BUSINESS. as.
The report Of the old Committee:on Public
Grounds. &C., on the communication Of John
8. Ryan. ESQ.,. calling attention to the condi-
tion OF the public square west side Of Rutledge-
street. was referred to the new Committee on
No further business, Council adjourned.
- T'''',' w. q. SMITH,
- Clerk Of Council.