Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1869-10-27


them. They Gao enter into no further writ
ten contracts with any bondholder. Yet
there are two-thrds of the entire city debt,
amounting to about S43O, 900, principal ana
interest, which of necessity will remain
wholly untouched, with interest on it ac-
cumulating at The rate of $50, 900 annually.
Now what is to meet this vast sum under
the sample plan" of the Council, The COM
mttee cool ~ tell Us that it is TAXATION
This year the Council can do nothing about
this two-thirds of the debt, as it has its
hands full OF man1amuses; nor can it next
year as then it will have more of the same
sort; and the year following it will be
worse off still. And then this tWo.thirds of
the debt will amount to $4,000, and the
$50, 600 of new bonds the committee expect
to issue makes up the sum of $4,000, and
an annual interest of more tnan SAC, 900.
As to the amount of our taxation the COM
mittee do not leave US in doubt. They say
sstwo years ago the debt could have been
settled for from 25 to 80 cents one year
ago for 40 cents, now for so, next year for
IS cents and very soon only by paying dol
lar for dollar, principal and interest" Ey-
erybady can plainly see that the Council is
SO situaied with heavy judgments against
the city, that it can do nothing in liquida-
ting this vast sum, before this Every soon"
comes when we must pay "dollar for dollar,
principal and interest But they affirm
that the Council plan is ample to meet the
difficulty, and taxation is their sole remedy
Taxation to raise near 5000, 900! Yes,
wasting, destroying, crushing, accursed
taxation, on this plan is the only thing we
can turn to in our despair. TAXATION will
De burnt into heart and brain of every tax
payer in the city. The business men are to
be robbed OF the hard earnings of
life time and the comforts of home. The
laboring mau with b 3 humble dwelling to
she tier his family, is TO be deprived of his
means, wrung from his daily sweat and toll
We not only have the committees state
mentas to the amount Of this taxation, but
it follows directly from the two fundamental
principles OF the platform on which they
take their stand. The first is the stupidity
OF always having Common Council exist;
the second, that no man can be compelled
even by legislation, to take less than he
chooses, when men are daily compelled to
consult their interest and take what they
can get and hundreds of millions of dol.
lars are annually transacted On that basis
IN THIS country every year, because business
men are rational beings and are compelled
to consult their interests, simply because
they are not madmen nor mules. And legis-
lauen may greatly assist US to our object.
But these two fundamental principles Of
the Commou Council plan are an open be-
trayal OF every tax payer in the city. They
are paollc Invitation to every Shylock III
the land, to strike down, throug the Com
mon Council, every taxpayer here and to
b lp himself to our property to his hearts
content.
But gentlemen of the committee, YOU
cannot get any Of your new bonds taken,
except by direct fraud or suppression of
the truth which ought to be spoken. No
man here will take one of them. You have
simply moderated the intelligence of the
bondholders. Hence you will find NV
arithmetiGal calculation rs to the increase
OF the debt, correct, except as you keep it
down by the perpetual tramp, tramp of the
tax gatherer.
But if you could get them taken for one
third of the city debt, it would be one of
| the direst calamities tlat could befal us.
With all your efforts at concealment, the
bondhoiders would tell each other OF ali you
do The other two. thirds of the debt " uId
at once go up in the market SO that to COM
promise them would cost more than to SET
tie the entire original debt.
But again, your committee is wholly IL
legal. Section / and r OF the charter vest
the sole power to contract, in the. mayor
and the IA aldermen. Chapter 3 contains
| specific enumeration of all the subjects on
which the Council may pass ordinances.
The power to pass the ordinance of July
| lst, 1859, organizing your COMMITTEES, is
entirely excluded from this list.
This trampling down the right of the cit
liens to have their contracts made OPENLY
| by the whole Council, and transferring the
| power t bind as at their pleasure, to the
| secret decision OF dark lantern committee,
| is the most high-handed outrage chat could
| be perpetrated on the citizens, and il the
most dangerous precedent hat can be set.
| Again, section i, chapter 5, requires that
| the ayes and noes shall be taken and entered
| on the journal, in all appropriations OF
money, and that all city funds, except the
| school und, shall be under the control of
| the Council. Section 4 of the amended or
| dlnance, enlsrging your powers, passed
| August 28, 1869, transfers to you ali moneys
IN the treasury raised to pay railroad bonds.
| and .'all moneys her after raised for that
purpose" A more palpable or dangerous
| violation OF the charter canuot exist than
these Two ordinances.
Here then are the two plans On ours
| the city acts like bankrupt, and seeks, in
accordance with the universal course OF
business in this country, to extrcate itself
from the difficulty--which it probably can
effect IN one or two years at furthest. 1t
puts itself into the strongest defensive atti
tude, so taat no part of our property can be
taken, and brings to bear on the bondholders
the strongest pressure to accept our offer,
which is all we can honestly promise to full
fl, and no door is left open to fraud.
BY the Council plan, the bankrupt city
acts like an insolvent who lives in STYLE.
puts on airs, insults his creditors by asking
them to extend the time and reduce the amt
OF one-third of his matured debts, while he
does nothing as to the other two-thirds,
keeps open store, while the sheriff is com
ing in daily with executions and stripping
BIN of his property An individual who
would thus act would be scorned as a mad.
man or fool, and our city is charge :
BILE with equal folly.
The Common Council scheme is no plan
of settlement whatever. 1t is only plan
Of leaving the noble ship, in which all we
hold dear is freighted dri ting, slowly,
steadily drifting upon the breakers, without
one manly effort to save, although in little
while our utter destruction will be certain
But our plan rouses every citizen to the
piping sound-up boys, to the rescue
mans every spar, sets every needed sail,
boldly turns the Prov of our goodly craft
away from the deadly peril, and by the
effort of each manly arm, she moves out
into the free and boundIess ocean, where
alone safety can be found, until she can fly
to the sheltering port of a complete and
perfect compromise.
-~-.e...~ ~ Respectfully yours,
D. HALL,