The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1871-04-15
Circumstances over which we
had no control, intcrfered tc prevent
the issue Of our paper until this
(Monday) morning.
For the Pslladiam.
FINANCIAL STATUS or CRY.

1
FINANCIAL STATUS or CRY.
In the last issue of the Telegram,
~ And il me editorial column,
Z review Of An article on our FL
nanoial Drift. We think = glance
1t the styls and diqtum OF the wri-
ter, win acquit the editor from the
charge q having committed the
biunders therein. and saddle them
ON other hauds. The writer, with
. flourish, asserts thst apestion OF
the Fort wsyns Rail Rosd Bonds
has been redeemed, and shows how
email . portion, faccordipg TO HE
statsment) just two and "a -half
per ceat. which equals about four
months' interest on the amount
Quite . curtanment this! though
the records, a. We are informed by |
the gentlemanly Clerk of the city,
show the amour. paid to be even
less. -
The writer next wipes out the
$4,000 Gas Bonds at one dash.
saying .they are in NO sense the
city's debt. We presume the ho-
ders will, demur to 80 easy 9 pay
ment. We believe the facts TO be
and We get our information from
onlcil sources-tbat Mr., Starr, is
70 furnish the city with gas to to, the
amount of these bonds, and that
the bonds are to be, paid by the
city. It may indeed be true, that
the city is to have value for the
money which they should have had,
but probably will never get, for all
the bonds issued; but If this makes
it less .. debt Of the city, we fail to
see it, Our critic next seeks to dis
pose Of The CSC, 900 DEPOT Bonds;
cat present they are no part Of our
public debt" he asserts. Very
good, gentlemen. II they are no
part OF our debt, Why have you in
cluded in your levy Ioul cents to
pay the interest on them, and ten
cents as sinking fund to meet the
principal when due2 These sums
for the present year are. already
paid. You have obtained the mon
sy from tina people. What have
you done with il? and what do you
propose TO do with ;t' il this is no,
dsbt7
The 500, 900, which is the city'l
share Of the Fort Wayne Railroad
Tax, is next disposed Of in way
that would no doubt be gratifying
to the Railroad Company. 1t il
easily managed. All We have Il
do 10 to pay it, and that within two
years; (why did he not say ont
year and ten days7) IT'S quite .
comfort to party, who is short o
funds. to have only 800, 900 to pay
and o! what bliss it adds, to know
itmust be psid Immediately! Will
such coat of sugar on the pill
we surely can swallow it. AM
should We make awry-faces, VI
would deserve the whipping post!
We are next told our City Dob
10 actually e167.ooo. While til
books Of the city show: Railroa'
Bonds, e1ls,00o, there being bu
$4,000 bought in, instead Of % 100
40 claimed funding bonds $50, 0O(
gas bonds $4,000; Depot bond
$4,000, besides which We find
floating Observation-Disclosures OF S27
300. some of which draws as hig
% 10 per cent. interest, and whic
seems to have been wholly over
looked by this defender Of our cit
finances. Deducting from the la.
item. about 5000 for gas bond
which have already been paid, thu
proving that our authorities thin
We owe them) and we have as 0,
total bonded Indebtedness, IL
sum Of 9233, 900. and this il real
10 or the fault is with The books
the city clerk; for the figures ha,
been taken therefrom. II to til
we add our share Of the Rail-roa
tax, $50, 900, we have the gran
total SS23, 900. hos aAo
Our Supreme Court has left th
burden upon Us but should we n
esteem it a pleasure 10 pay it? al
and regard ourselves ~ fortuna
in being in the position Of the c
whose master was too humane
cut or his tail by inches, and
with one clean sweep behind Il
ear finished the whole Job O
critic next complains-and wi
some justice-that the interest "
counted twice. We think the a
thor Of the article he criticism
committed that error, and that t
S65, 32O.8S included the Sll, S62.
Is the current expenses: but we o
told that this sum does not rem,