National Republican., 1873-11-14
A Word 10 Csniractor-.

To hs Editor a tie National RepsbiicaH.
SIR; Permit me the use Of your columns to
say word or two to the contractors engaged In
the extensive street improvements now being
made In this city. A one OF their number my
interests are identical with theirs, and my mo-
tive for thus addressing them is, that there may
he brought about q harmony Of action which
would be conducive alike TO the protection OF the
credit Of the city and the contractors. would
suggest that the principal contractors have a
meeting for the purpose OF consultation. In the
present financial distress It is very dliticuit to
obtain money. Capital Is locked up, and there Is
In the market hardly suficlent to carry on the
ordinary business transactions Of the commu.
nifty. or course, under these peculiar circum-
stances the Board OF Public Works finds itself,
necessary to meet In iulI its liabilities. This is 4
matter OF serious Inconvenience TO the contrac-
tors, who are all In q measure dependent upon
the scttlement OF their accounts In the payment
The members composing the board have the
entire confidence OF the best and larger portion
Of the community. They are men OF well known
verso circumstances In which they Unexpectedly
ind themselves are doing the very best they can
to SO arrange matters that there may bc an
which the street and sewerage contractors may
have against the city.
The most important question to the contrac-
tors Is, What Is best 70 be done during this tem-
want OF concerted plan Of action, some OF our
number are seriously damaging their own and
our interests. Instead OF SO arranging It that
there shall be fxed valuation at which to dis
pose OF bonds and certificates OF Indebtedness,
each contractor goes upon the streets In his indl
vidusl capacity and sells or hypothecstes them
at whatever torms some broker may bc willing
The purchaser makes the best terms he can
for himself. He knows that Saturday night the
laborers expect their pay, and the contractor Is
VI n In mn Raf
these demands, as the poor laboring mon cannot
DO retained upon the works unless ut certain
stated Intervals they receive their wages.
The Investment 10 the brokers Ii q secnro one,
and II there was q stock exchange, ut which
the price OF the city bonds and certificates were
daily nxed and quoted, there would be no trouble
In negotiating them. But unfortunately there Is
not so many OF the contractors submit 70 the
most extortionate discount, dlspt sin Of their
bonds and certificates At times as low as thirty
or forty cents on the dollar-a discount Of slxty
per cent. and over. or course when brokers mud
that purchases have been made at this low rate
they are unwilling 10 give q higher price, and
thus any contractor who, In moment OF nnan-
his bonds or certificates makes his prices OF sale
the market value, and entails heavy loss on
other contractors, This Ia ruinous alike 10 the
whole body OF contractors Ind the credit Of tho
city. Some plan ought to be devised To counter
act all this, and TO prevent hereafter one man
underselling another.
IL is our own fault that some means to that
end have not been devised before this. Blaming
the Board Of Public Works, as some Of the con-
tractors have lately got into the habit OF doing,
Is not only unjust but detrimental 10 our own
interests. In after years, when this city has
become famous for It's well-paved and beautiful
streets and public buildings, and the pride Of
the nation, the members OF the board will re-
Ceiye their proper need Of praise for enterprise
and the energetic manner In which they carried
out these great improvements In the face OF all
the absurd clamor raised against them. No In
telligent contractor participates In that clamor
or entertains the slightest feeling OF distrust In
the ability, integrity and business Judgment OF
Governor Shepherd, Mr.. Magruder, the financial
agent, and the other members.
Taking into consideration all the obstacles
which have been thrown In their way, not only
by the chronic growlers, which are found in
every community, and whom nothing can sat
isfy, but even by persons from whom they had
right to expect generous support, and whose
property has been made largely more valuable
by these improvements, which they have 80 un-
wisely decrled, 1t must be conceded that the
board have not only done well, but Rrandly.
Let US, then, as contractors, do everything in
our power TO strengthen them and the credit OF
the city, and In this we will the better protect
ourselves. CONTRACTOR.