The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1870-08-19

Our resurrection of Mr.. Van Riper's
pledge that the Water Works Bon ds
should not be sold for eighty-fve or
eighty-seven and half cents
On the dollar. greatly troubles
that gentleman, who attempts
to divert attention from it
by column of abuse in the Courier
Of yesterday. 1t is designated as an
attack upon his veracity. He don't
deny the fact, yet our quoting it is an
attack upon his veracity. Worse and
more of it. quoting Mr.. Van Riper's
publicly given pledge, as chairman of
the Finance Committee, to the effect
that the bonds should not be sold at
sighty-fve cents, is, by implication"
also an attack upon the veracity of
Mr.. Isaac Keen. who negotiated their
sale. How artfully, and profoundly
the little Dogberry arguesl
The JOURNAL did not assail the
disposition of the bonds. In so assert
ing the Courier simply lies, as usual.
In view of the mountains of debt
-Ossa piled on Pelion - imposed
upon our city by the present Demo
cratic Council, we think the sale Of
the bonds a good one and very credit
able to the financial skill of Mr..
Keen. We regard his employment as
one of the very few sensible things
done by the Finance Committee. We
are gratiied to learn that the Com
mittee had sense enough to recognize
the want of ability on the part Of their
Chairman. and to select somebody
that was equal to the emergency of
selling the bonds. The whole trans
action shows that Mr.. Isaac Keen, and
not Mr.. Van Ripper, is the proper
man for the Democracy to run for
Mayor next Spring. We hope, how
ever, that it was not found necessary
to mortgage the Water Works to Sc
cure the payment of the bonds-a'
t0as done IN the case of the lots pa'-
chased of Mr.. AmOry order to
make them bring 85 cents. We pre-
sumo Mr.. Keen was too shrewd fnan-
cier to do anything of that kind. Yes
we think, under the circumstances, Mr.
Keen did better than we had any
right to expect, and is entitled to all
the more credit. Indeed, his success,
hampsred and harrassed as be was by
the bungling of the City Finance
Committee, was really marvellous.
Another paragraph from the Cou-
rier Dogberry treasures US. He says
with an Indebtedness of nearly a mil.
lion and three-quarters actual and pros
pective. hanging over the city, its credit is
to-day better in the money markets thar
when that indebtedness did not exceed siz
hundred dollars.
We have for some time been en-
deavoripg to comprehend the philos.
ophy governing the Finance Com.
mite in its operations, and now we
have it. The more The city Oce, The
better loitl be ats credit. Could any
thing be more satisfactory? Bunsby
never originated anything half 50
profound. We call the attention Of
our business men to this revolution
in the laws of finance. Is the credi
ofany merchant impaired? The way
to improve it is to run still deeper
in debt. The simple rules of addition
and satisfaction are not easier com
pretended. This. too. satisfactorily &C
counts for the recklessness with whicl
the Council is spending money anC
multiplying the bonds-the create
the Indebtedness the better the credi
Of the city. Criticisms on such foil.
and stupidity are summarily dispose
of by denuneiation and Vituperation
All who object to the new principle
Of finance, and declare their prefer
ence for the old rHle, that the best
way to preserve credit is to keep GU
Of debt as much as possible, are de
nounced as injuring the credit O
the city. So we go. Verify Var
Ripper is our Napoleon the Third
and infallibility is the Distinguishing
characteristic Of all his conduct.