The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1871-04-08

q 4 - 81
In slast psup sf4he .Palladb
nm. = CIsis" enqaifss swhere arc
We driftilg2'' and gtses whss pur-
ports to be- the facts and fgures
evidencing the direction Of the
drift The Triier purposes tcen-
quire, where shall We land2 We
thiEk Q careful survey efyeur finanr
cid pSsi,ionas ! City, will show,
that IL is not IN the pofnswe have
reached, bat in the rate Of Our pro.
gress, that the greatest damage |
lies, and that while il is true that
our Indebtedness is heavy; being,
if the figures Of :.Ciyis' are correct,
about $50 to each inhabitant, which
exceeds that of Cincinnati some
fifty per cent. and equals that of
Chicago, yet that ii, is not SO, in
comparison with some eastern cit
les, and that our burdens. though
grievous, are not greater than man
has borne, and perhaps can bear
again. has s 1z.se .d
For example, the City Of Phila-
delphia. with population Of 657,-
179, had January LIST, 1871, fun
ded debt OF $4s,263, 1884. or about
S73 for each inhabitant, and her
expense for the year 1870 was S11,-
492, 909, or about CIT 48 for each,
while ours was but about 85 50
each; yet the six percent. bonds. of
the city Of Philadelphia, to-day
sell at a premium. @ aiss en
AS we have said, il is not the
amount Of our indebtedness, which
is certainly very large, SO much as
the rapidly with which that in
debtecness has accumulated, and
at the rate of interest now being
paid en- part of it, that gives
cause of alarm; when we realize
that nearly, if not quite all thi.
debt has accrued within the last
five years; and that during the same
period our current expense, has
advanced from s24,17l to 855, 329
Who can fail to see where we ar,
drifting2 Who can fail to see tn,
necessity for q change? But there
need be no difficulty in stemminl
this tide, though it be app arently
SO set toward bankruptcy. Nor il
there any necessity for cutting OF
all improvements as suggested b.
some, for this policy would Ger
, tainly be ru;nous to the develop
ment Of our fair city.
|, Let there be set apart. in the ia.
> levy, such sum for sinking fund
! as will satisfy capitalists, that on
bonds will surely be provided fol
!, and let the proceeds Of this lev
as required by statute, be faithful
S ly applied thereon, and sacredl
! devoted thereto; let no money b
: expended by the city, outside til
. city limits, and let a rigid economy
|. which is not Inconsistent with
: liberal progress be maintained i
d the expenditure within the city,
4 We believe were these three poin
4 faithfully carried out. our either
o would cheerfully pay the necessar
o tax, and that it would not requi,
Q any increase Of the present lev,
r but that it might be materially r
duced. t..s..4g
! A comparison of the receipts ar
If expenditures, large as the latt
l. were. during the last year, sho,
,e that there was collected about s s,
oil more than was used, beside abo
500 which is still delinquent, n
:, SO it would seem clear, that our t,
he should have been 80 cents on ca
ne SlO0 less last year (there, havil
~ been on hand at its commenceme
s. near SEC. 600 beside the delinque
~ list to cover contingencies) n
it that with ecor omy the levy mig
k be reduced from 81 35 as at pre-
SD ent,s to shoe at which rate. t
ne mouths Of cronlxers would be ste
ped, and businsss enterprise,
= stead OF being driven away fre
,at our city as at present, would be-
W tracted, new industries .wo,
~ spring up, andwe should find OF
selves, if not safely lsnGsed, atle
n" ne longerdrifting. but with a stca
,st helm, sailing on smooth sea, W
les q full tide, and a stiff breeze, be
~, ing US toward prosperity. q C
he - -- -
90 .ss OUR EXCHANGES
NJ sg,.s y 100 = 80 = -----T------