Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1874-11-27
City Water W0rks-An Important
Suggestion.
EditOr Hindicnknr

ElttOf FtH0tCttt0f.
Everybody acknowledges the necessity of
securing Tor our city a bountiful supply of
water. On this subject there is no differ
ence OF opinion; but in regard to the best
mode OF Erecting the object, there is diver
sity of sentiment.
Our little city has already incurred
debt of about $150.00O. When the Valley
railroad Company performs the conditions
precedent to the subscription of the addi-
tlonal SUM OF $4,000 to its stock, our cor
pofate debt will be sWelled to $500 900. If
TO this we add $50 for water works,
and say, $4,000 for the improvements in
contemplation, and which Will soon be ne
cessary, the aggregate of our city debt will
pe S3o0 1000, or near 20 per cent. of the ag-
gfegate value of the real estate within its
limits. These are rather startling figures,
put they are approximately correct,
A good deal of this debt bears s per
cent. interest, and is exempt from city
taxation. The annual tax to pay interest
alone will, therefore not fall much short
of $40, 900.
Is there not danger, therefore, that this
large debt may render rate of taxation
necessary, which will be very burthensome
TO the people; which will discourage i'm
provement and impair the value of proper
ty.! May we not only arrest new enter
prlses, and deter people with capital from
coming here, but actually induce those who
are here to move out of town to escape it's
onerous taxation?
The enquiry, then, presents itself, what
are we to do! Must we give up the pro-
ject of watering the city? By no means
It does not follow, because one mode of
effecting it is obnoxious to objection, that
another cannot be found which is, if not
free from it, at least, less liable to it.
The city of Danvile has, as we learn
from the newspapers, entered into con-
tract with capitalists, outside of the State,
to supply her people with an amply supply
to pay interest on cost, and a fair profit.
Why may we not follow her example p
Why might we not have a water company
incorporated which would undertake the
work on fair terms. An Incorporated cou-
pany IA large portion of the stock OF which
was subscribed for abroad) now supplies
the town with gas. 1t is true that in con-
sequence Of the war, the stock of that
company was for five CT six years unprofit-
aole, put IL no" pays 10 per centum per
annum.
1t seems to the writer of this article,
that the stock of water company would
yield good return. Gas is luxury: water
is necessary of life. Everybody, there
| fore, will be bound to Use water, and eyerv-
body will be willing to pay for it, because
| they know that it is not only essential for
health and domestic comfort, but the best
insurance against loss of life and property
| by fire.
1t we organize such company, we can
have it (as in the case of Danville), in q
large measure, done by foreign capital
Let the city guarantee to the stockholders
dividend OF 8 per cent, and we presume
there would be no difficulty in having the
stock taken.
1t seems to the writer that these sugges
lions are, at least. worthy of consideration
and they are now respectfully submitted
| to the sober Judgment Of the corporate au
thorltles and of the people by one who, al
though he is an ardent friend of improve
ment, likes to see the spirit of progress
tempered by PRUDENCE.