Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1872-06-17
A Rankrunf Civ.

The city OF Galeua, Illinois, is hopelessly
bankrupt. Like many other western cities, but
more recklessly than most Of them, it subscribed
for stock and issued bonds in aid of railroads
and other projects OF internal improvement,
until the city debt bore an alarming ratio to its
means of payment. 1t is easy to understand
how this load Of debt grew without serioHs op-
position Influential citizens WERE no doubt,
interested in the various enterprises which the
city was asked TO promote; some of them
thought that the advantages to be secured by
the city would be worth the price paid for them,
and others were sure that they them selves would
be profted and cared little for anything else; Il
agreed 10 eXaggerate the benefits OF the pro-
posed undertakings and the prospective re-
sources Of the city, and had wonderful tales to
tell of small towns which in a few years, through
an enterprsing and liberal policy, had grown to
be centres of trade and population, and of other
towns whose fair prospects OF increase had been
destroyed by the excessive caution of short
sighted citizens. Western men are sanguine;
the time Of payment seemed distant, and u
growth not exceeding that of some few favored
cities would make the burden insignificant
before the contemplated obligations would
mature.
through such motives and in such spirit of
blind confidence in the future the debts were
incurred. But after time it was found that the
enterprises thus fostered were less successful
and OF much less advantage to the city than
mad been hoped. Some Of them probably were
more or less tainted with fraud. The citizens
were disappointed and angry, and the weight Of
taxation required TO meet the yearly accruing
interest was greater than they we're willing to
Dear. They refused to provide for the payment
VI interest and, so far as they could repudiated
Tue debt Then followed lawsuits, and judgments
were pronounced against them, but still they
iesN'ed' The unpaid interest was added to the
ueol uhhl tile burden became so great as 10 alarm
taApaSefS aud drive them from the city. Thus
WING Tue debt increased, the means of paying il
olnlih'shed' The United States courts have
gwen repeated judgments against the city. and
laleiy issued peremptory mandamus recurring
Tue Guy government TO levy and collect a tax
Tor The payment Of these demands. This order
JAILED TO accomplish Its object. and the uext
slep was an attachment Of the mayor and corpo-
non LOT contempt On this they were arrested
ana brought before the court, and are for the
present at large on bail They represent that
10 leVy the tax required would be equivalent 70
Seonhscation Of nearly the whole taxable prop.
cry o. the city. Besides this they say that nc
man can be found 10 act as tax collector, as IN,
lneumbenis Of that oGlce successfully resign s,
soon as they are required TO perform lis unwel
'o.ne uu''es' NO way ont Of the difficulty ha
yet "een found. Payment In full seems to b.
Impossible and there is no precedent for squar
ing up city's liabilities under the baukrnn
law AT any rate Galenas days Of prosperi,,
are over aud man Of property would II, !
nNely 70 seek a home there as in city who,
the plague was raging.