Evening star. [volume] (Washington, D.C.) 1854-1972, 1872-05-14
2,sse.M

The Comptroller excludes the anissued bonds,
but the con mittee regarded these bonds as debt
nG Adding ssaSS syss Ss
the OLD Coz ,a ahoys given Sssl g.
tie @ Bos1d Ct PSSc WSrs.
have expended S20o0S0Q, but nearly one third of
and will replace to that extent the moneys siready
expended; SO that but little over one million Of
judei ions expenditure of this balance the District
will be PLACED in screditsble condition, and thus
sustain debt of ten million dollars. " -''' :"
Much evidence was introduced to show that the
bedw Ue a and at
that The loan was Negotiated In New York city at %
washn gton, before the new goyernm mt went into
ops ration sold as low az 81 cents on the dollar Sew
Mr.. George W, Riggs, testified that the Governor
negotlattd the loan at good figure, Mr.. Riggs be
bonds were worth then now. As further evidence
OF the advanced credit OF the government il ap-
taIs that the Governor has negotiated the water
An attempt was made to show that the sale of the
tie profit to the purchasers aud that the facts we're
nisrepresented abroad. The testimony shows that
il Europe and had nothing whsteyer to do with il
Much testimony has been presented to sho that
ernms mt the debt 10 rapidly increasing and the rate
Of taxation must iney itably be mucn greater than
$40 Hpon each ia sS g! taxation on real
AS to the total indebtednsss increasing linden.
the sssS to sfssss u.s. 81 and
greater debt can be created without the ascent Of
Coperess-n view OF the limitation Just referred 20
but In no case can exceed two Der cent. on 100,
as was provided by the organic act and the recent
The improy ements now going for ard have tended
to advance the value of real estate in all parts
the District, and the evidence shows much beyond
the increased asse ssed value.
The last general assessment made in the District
prior to the OF the present government
Ss2 00 900 As the basis Of tsIation- 10 this Sss
added the improvements made upon the property
from year 10 year, eut NO general assessment wse
made until ordered BY the new governments, and
This new assessment wiz show On asssssable val.
nation of little less than 80 90 GO real estate and
Slznof00 perscn nal property.
ment 10 beyond the sctusl value, but while that is
true in some cases, the committee satisfied that
the true value Of the property Of the District is
now In o. ssion TO correct errors.
comprising the Board Of Public Works. wSoss hiSS
eharacts. s already known to the people Of the Dis.
conduct or serious mismenagsment not proved, the
committee do not wish be understood as assertine
that thsy have not made mistakes. The new gov
eminent has but recently been organized. There
was universal demand for extensive improv
during the first season, which the Board naturally
determined to attempt TO connolly with. But the IN,
wi the early cold and LONG winter were usforseen
carry out the plan for 1871.
On the other hand. however. 1t must be remem-
very favorable negotiation IF lis four million loan
st o rata advantageous In itself and which La
raised the credit Il the District high point q
The Gov and members Of the Board are on the
wis le entitled In favorable judgment of Congress
and are TO be commended for the zeal, energy and