The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1872-12-03

Look Before You Leap.

by The Legislature last winter. The In
,erests involved IN this proceeding are OF
such magnitude that 1t becomes the duty
Of every citizen to consider the subject
carefully In all its bearings.
An addition OF f$s0e0OO to the present
debt Of the city is no triaing matter. Such
addition should not be made, except on
consideration Of the clearest expediency,
snl under such guarantees as win
secure the faithful expenditure Of
the citys subscription, and the certain
construction Of the road. In regard to
these points, there exists feeling Of
marked distrust 10 the minds ol many ot
our most active and public spirited men.
They fear that the bonds Of the city will
fall into incapable or Irresponsible hands;
that the effort TO construct the road will
be spasm, lasting only while our money
ssts, and that the result will be, so far
IS the Cityils concerned, q long and Weari'
some taxation to pay debt contracted for
the sole benefit Of few speculatlng con.
tractors and their immediate friends.
We hope that when application is made
TO Council in behalf Of the enterprise In
question, there will be instituted the most
careful and searching inquiry in regard to
the character Of its managers, and also in
regard to their plans. We have tue right
toknow how our money is to be used, and
we have the right to Judge whether the
financial programme of the managers is
likely to be successful. We cannot be
satisfied with the mere guarantees" Of
the managers or contractors without in.
quiring into their character, financially
and otherwise. To build railroad con.
sumeS both money and brains, and II the
gentlemen who propose to build the
Wheeling s Lake Erie Railroad are not
well provided with these essentials we
ought 10 know It in time.
But there are other questions connected
with the proposed subscription which
should be considered. Will this road be
worth to US what 1t will cost US? We
have no desire to under, estimate the value
to this city Of the road in question. If
we could have satisfactory guaranty
that our subscription would secure to US
beyond all peradventure the benefits oil
the practical terminus OF completed
road, we would not feel disposed to ques.
ton oVermuch its advantages as com.
pared with other roads. There are saga
ciOus business men in this city, however,
who claim that we already have ample
railroad facilities for getting goods to and
from the Lake Shore and the West, by
competing lines already established, and
that the construction Of another road is
not required by either the manufacturing
or commercial interests Of their city.
But what will the road cost US? As
weunderstand the case, our subscription
OF 100000 to the stock Of an Ohio road
makes US liable to the creditors Of the com.
pany for an additional 100000. So that
IN case the company should become in
TolVed or bankrupt we should have the
extreme satisfaction Of doubling oursub.
scFiptOn to dead corporation. Y
Further: Under the constitution OF this
State lately adopted no municipal corpor.
alton is hereafter allowed to become in.
de6ted in any manner, or for any purpose,
loan amount, including existing indebt-
edness, in the aggregate exceeding per
centum on the value Of the taxable prop
e'ty therein. The effect Of this constitu-
sional provision Is to limit the maximum
Indebtedness Of this city to about $780,
WO, The existing debt is about $50O,000
Add this $500, 900 railroad subscription
and the limit is more than exhausted.
What then becomes of our prospective
Water Works improvement, the necessi'
Yo' which Is now pressing us, and which
cannot much longer be delayedS How
shall we provide means for other i'm
pFoVements which arc demanded In oul
system Of sewerage and on our streetl
and alleyss viii It be by direct taxa
ton! ~ ..t iIL
The proposed subscription for the rail
road and bridge will add 100000 a year
'or'say twenty years. to our present city
taxes. Shall We add to this again, a
least 100000, in any one, or even two
years, for Improvement OF our Water
Worlu'
liz be true that our now high taxes
are driving manufacturing enterprises
away from us, and are diverting to other
points the investments of our citizens, vi
suonlt that any increase Of taxes should
- made only under the most extreme
necessity and for purposes which clearly
promise direct, ample and speedy remu.
uetation. zr.sCs ss
l'itwlse to deny ourselves toe pow
Ct Of providing for the comfort ant
'4e'y oil our city, in order to grasE
~ enterprise Of remote and doubtful
au''y' Is 1t not better to spend oul
money at home for purposes OF undoubtet
'A'us and undenlable necessity?
SOit'eems to US; and alter these indis
EusloIe objects have been attained VI
uAy then, II we have a surplus, NOR,
~ NeIy consider the proprietyr OF investing
Nm experimental enterprises,