, 1873-11-23

6nr6obhA INIT mcl'cal mon IN t1o country, tllotr
decision ought to satisfactorily aolvo tho prob
lcm.
TIE MAYORS BILL AND THE SPRINGFIELD
RING.
The Springfield phpora aro now threatening
that thoro allnll bo no legislation for Ohtoago
unloBB Chicago pays tho taxeB lowed on hor to
liquidato tho local debts Of other municipalities
In tho State. Tho Register aays that tho Mayors
bill, which expires in March, 1874, ID proper
bill in itsolf. and aooms "to give no moro power
Ito the Msyor) than 10 needs, II ho is to bo hold
to tho responsibility which should properly at
taoh to the Chiof Executive Of 30 1argo md
important city as Chicago" It thinks that
tho bill might properly bo ro-onaotod, but
tint Chicago can got no legislation 80 long MS
bho rofuaes to submit to whatever taxes tho
Auditor and Board Of Equalization may impose
on hor. In othor words, the knife Is to DO hold
to the throat OF Chicago to enforce tho demand
for payment. What is it that is demanded, aud
to which this county objectHa.
Certain towns, villages, and counties in this
State, nomo yoara ago, permitted themselves to
DO soducod, or compelled by fraud, to issue
municipal bonds to DO paid over to cortain rail-
road companies. Those bonds In tho nggro-
cato amount to oyor s19,000 600. OF this
dobt over eleven millions Of dollars arc recorded
IN tho Auditors Office at Springfield. These
bonds, whotherhonestly or fraudulontly obtained,
wore givon In exchange for oapital stock In tho
railroads but tho railroads having boon mort
gagod awaY or porpotua11y leaaod, the stock is
rendered valuoless. The annua1intereHt on these
bonds oxcoedB amtllion OF dollars, aud the people
Of tho aovoral towna havo gonerally assumed a
tono Of hostility, and aomo haYo absolutely re-
fused to pay any more interest on the bonds.
Tho bonds havo, therefore, become dia-
credited, and, as might ho expected, tho
holders lad little expectation that pooplo who
would rofuao to pay tho interest would ovon
tako pains to pay tie principal. md, therefore,
rightfully argued that, unless tho State assumod
tho debt, tho bonds would coaso to have any
valuo. They, therefore, combined (holding
$11, 900, 600 Of bonds bearing an average rate Of
pcr cent intorost) to obtain Indirectly what
tue Constitution directly prohibits. They in
vokod the Grab law Of 1860 tho Auditor ORDER.
cd an Increased assessment, aud tho Board Of
Equalization transferred S10o 000,o 900 Of taxable
valuos from tho State at largo to Chicago. Tho
law OF tho, State authorized tho Auditor
to lovy such a ratio Of Tux Oh the
total valuation of property in tho State as would
c. for
"a, 900, 900 for State purposes. AL That he was
authorized to collect was tho aggregate of thoso
two aums or a3, 100000. In addition to those
sums, howovor, no las lowed rato of tax to
produce 81 ,829 1906 Omitttng tho special lovy for
schools, ho has presented rato Of Tux for roy-
onuc purposes which will produce 49, 1853,
inBtoad Of tho $2500,000 authorized by law,
leaving an oxcoss Of loyy Of 81, 1,122,353. Tho
purpose Of tlis excessive loyy Of oloyon hundred
thousand dollars for rovonuo is frankly stated,
on tho moro than oloyon millions Of
dollars Of county and town bonds is
suod in aid of railways. or this 81, 100, 600
cxtra tax loviod to pay tho interest on toso rail-
road-aid bonds Chicago has to pny not only lor
proportion upon tho real valuation OF 1ler taxable
property, but also upon tho s1c0, 100000 OF extra
yaluca transferred to hor tax~liat.
Chicago objects to paying this Tux on eoyoral
grounds:
/. That 1t Ia illegal to 1ovy tux for state
purposes aud apply the money to my othor
purpose.
2. That 1t Is unjust illegal, and unfair to Tux
Chicago to pny tho interest," Oh tho municipal
debts Of Springfield, Bloomington, and Quincy.
creaso of the nssoHsment Of properly in ths
county, by which 100 per cont WAS added to the
tax, is such deliberate discrimination againHt
Chicago that submission to it now ia but to ir-
vito still furthor aggresBions In tho future. For
theso reasonB, Chicago proposes to pay no
part Of the tax levied for this ille-
gal end until tic Courts shall aay
wo must. Because wo will not submit
to DO taxed to pay tho interest and principal on
s11,0oo000 Of swindling bonds issued by
other municipalities, and owned by ring Of
apooulatora at Springfield, wo arc now threat-
enod, through tho bondAolders' organ, with prac-
tichl exclusion from tho legislation Of the State.
Let us SEQ how wo como out! Perhaps the poo-
plo Of Illinois, who are in like mannor though not
equally, swindlcd, will tamely submit to tho in
solonco of tho bondholding ring. We shall seo
in duo time.
CHICAGO TRADE.
A few yeara ago, Cincinnati won the proud
titlo Of " porkopolie," and tie residents Of that
quiet and pleasant city grunted with supreme
satisfaction over tue distinction. Thon st.
Louis grew ambitious aud onyious, and made