New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-10-25
DISTRICT OF CoLUBA FINANCES,

An ANXIOUS AMERICAN IN GERMANY ASKS SOME
QUEsTIoNs-GOv. SHEPHERD GIVES ROSE
CoIoRED ANswER-HIs STATEMENTS QUESTIONED.
(BY TELEGRAPH THE TRIBCSE.l
WASHINGTON, Oct. 24.-Gov. Shepherd pub
fishes to-day the following correspondence IN regard to
the finances Of the District Of Columbia;
WfRsBADES. Oct. 6. 1873.
To The Hon. 4. r. SHEPHERD. Gorern0r Of me D'"rof &"
6TtRSfR: Although stranger to you. under the cir
c,Imstauces hope You viii pardon me Tor imposing on
your most valuable time take the liberty OF address
ing and ask. in return, KIND answer 10 ny qSe
tons hoping to be able at some future day 70 nh yo
personally Three years age m5so nd ha ir fo faF
change OF climate on account OF my w'le noi.I tt1
the warm springs here t0oh 1,v o''q Is7o OF
pass myself at washington 0n 1"J 4 eSs' and
course. living out here without business anu
far from home, il expensive. Therefore ZOOS s1no
money out with me In United States bonds a.
fortunately for me those bonds were Cou III, uiu III
place OF them bought ln , ~ fine eantaI OF
and Dstrci bonds, thinking me cIedt .. .o
our glorious Republic being NO l. ana wiIhpu' uo1'
Since then different rumors S0t and cnuseomently
ing 10 the far credit OF your District an IT, sai
its bonds went down more than 70 per cent ~ - 9I
the District OF Columbia would be WholS 10 py tne
;ntarst ON s debt Now SIR II this should turn OUT 10
i've trne would be almost ruined, aud my position NVu
be awful dnetIoie rSS as oasibe knowing that IN
ynnr honorable position you are enabled TO sno" the
financial condition OF your district, or, IN Iact are
Identified with IT, aud can therefore, io"o'o ~ anu
family Of our anxiety. -. .,,o ,,ohu;,, of porr
n tr to nav fs honorable debts false or not, and viii
the coupons OF said bonds he regularly palh -,
honds and not sell them with considerable loss or now
ANY other information regarding the security Oh sau
pUanLiuIIy received Hoping these rumors, which can
SgrdIv believe all uniOunded, ana Only thrown ou
1er as early a. possible and thank y0u beforehand;
and in the mean time remlir, most re-pectlulf SoI
feliow-ciuzcn, u. ShnAa.9 ~ Gar,,1,,,r
EXECUTIVE OFFICE, DISTRICT OF COLUMBIA,
WAsIuSGrOS, OCT. 49, 1871.
Cu,ptrs OTTER esq.,. Hiesbddea, GeTHdtV
DEAR SIR; Yours of the 6th INST Is ieeoVeu tn,nh
an Tor NJ and take pleasure In replying TO the ques
s 49, confotned therein You ask, Are those runOrs
ohout the inability OF your District paying us nohorhpe
Hogs7 =, In answer assure you that there is not
particle OF doubt the subject Inc coupons VIII o.
bc ta1abe property District aggregate s5OCl IN
excess Of the appropriations 10 your v.nor %
Wonn SSu WITH considerable loss ~ have hesita
Ton in stating the bonds are worth dollar of do
fnr less than par The District OF Columbia bas never
failed 10 pay its interest and believe IL nesea VIM.
To- rum6rs Won refer TO started by an unscrupuous
d 81 con :prators VINO can no HARM except whore
tier characters unknown Very rfsP ssHRm2hp
Governor District or Columbia
Gam. q, t,e statements contained IN this letter OF GOV
are 40 VIGOROUSLY untrue that they nave al
,raeted much attention IN Washington tonay' Inc "'
eruor saws that the annual assessments GU Tue
nroperty Of the District aggregate sSoooo III
the appropriations" From hgdres OBTAIN Gu as INC az
cttax Office It ia found that the amount OF taxaoe
-. u, washington and Georgetown at the assessed
raIuatou for they fiscal year 1873 and ls7l' Is
Goa an. 100 which, at the rate Of " on 800 he
highest rate allowed by law Of Congress gives
Al S. The assessed valuation Oh property ih tne
county is 49, which, at 81 So on $780, gives sooi' a.
The ,oal amount OF tax that possibly be collected
,bis VI ar therefore, allowing nothing for deuquence'
coat OF collecting, or discount for prompt pay neh
a, sss $50 60 The amount OF the cash appropfiioh'
made during the last session OF the DlSirIo'
legislative Assembly for the hscal year io'd
ns 1874 and for deficiencies taken from the puo'ed
laws. amounted to s2OO7,3uo The excess oil the ap
nroprations the largest possible amount from
annual taxation is therefore, sil9o52 10 Tue actual
dencency will be more than $4,000 In tina statement
neither the appropriation Of bonds for special improve
,ent. nor the income from special assessments ior lne
sap,e purpose is included. as the mtter 7is ho'
an "annual" assessment aud us income can
NOT be applied to the payment Of the prin
final or interest OF the District debt ihe
nnropriaion of bonds during the Last session OF the
District Legislature amounted 90 seyerh muhons o
a,ars Some idea of tho financial standing Of the DIS
,rct may be cleaned from the fact that the lss ut
known as the Emery bonds. due July 1879 ah|
amounting TO s5ooOO have not yet been psid. Amour
,so 900 worth OF them taken up with money Sau
An nave been borrowed from the banks here aud Al IL
reported on good authority chat the banks hoa e re
nsning a9s000 VI them. aud that Gov ehoP"c'u' uo'