Evening star. [volume] (Washington, D.C.) 1854-1972, 1871-07-22
SJCCET%EgE. SEGOTIATIOS Or THE
NEW LOAN.
! he Grand Work oTEnlprOyen,ept To
90 frn

t- y = Is - - Stc2Aent no
10 On
avis be good news to every person interested
II The prosperity o. Washington and the District
f. ka-@ t-at Governor Cooke has succeeded
IL ucg.l.l.ing N New York s1.5OOoO of
tAe Improvements bonds Of the District
a tie exceedingly favorable rate of OK
o1it.. v-,in the further advantageous condition
ibaS tlc ton'ls are only to be delivered In sums
&C sJ"o.gC, as the progress of the public i'm
ITOveneuts may require-the bonds, OF course,
Cnly drawing interest from the time they are
delivered. Under the provisions OF the act the
sum negotiated Is al that was appropriated for
this years expenditures, and Governor Cooke
only made positive arrangement. for that sum;
but thc New York parties agree to take the
balance OF the $4,000, 900 loan on the same terms
Thenever it is needed after this year
The negotiation Of the loan on these favorable
terms and with the provision by which the
money is only to be used as needed, and draws
interest only from the time Issued L. most credit
able to the financial ability of Governor
Cooke; bat the feature last named effect
uaily disposes Of the last vestige of the
damor about the nlegality of the bonds
made by the Tammsny crowd, and BY tina
brokers' who dread to see their occupation gone
Of shaving assessments; business upon which
they have fattsned under the old order Of thinos
but which must necessarily be broken up By the
economical cash paying system now to be in
augurated.
1t cannot be claimed for moment that the
sum negotiated, q, SEQ OOo, is in excess of ner
cent upon property, and therefore If the attempt
is still made to push the injunction, IL will be
demonstrated most Enthusiastically that the
purpose is purely factious, and to the
end Of gripping all improvements. me
parties to the injunction, should they now
persist in their course, win be held solelvresponS
Bile by the public for the utter proStration OF ALI
branches Of business that is sure TO follow upon
q STORAGE Of the contemplated improvements.
The Community is not in a temper to stand
patiently this prostratiOn of business while the
iEjunetOrs proceed 10 avail themselves of all the
teehniealities of the law by which they hone To
prevent stroke of work being done for years.
while the suit drags its slow course through the
Court. We hear that already some of our citizeps
who were misled by the interested clamor against
the Improvement loan, and have sympathized
with the injunction party, have to-day expressed
themselves entirely satisfied with what has been
done by the Board Of Public Works, and are
eager now to have the good work OF improve
ment commenced at once.
We have no doubt that now that the facts are
known concerning the advantageous nature of
the loan, and the fears of the most timid
are dispelled as to its legality, the injunc-
ton movement will receive so little encour
agement that it win be abandoned. No Cit
lien who wishes TO stand well in this commu-
nifty can afford to be identified further with
q movement which can have no other effect
han to stop every business enterprise in the Dis
frict, utterly ruin trade now stagnant, and de-
prive our mechanics and laborers of the oppor
tunity to earn q livelihood and provide com
fortably for their families.