The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1874-08-28
s. G.
Friday Morning. August %. 1874.
How to Ruin a city.

Caibs tu6E6 Hae UUuuou QeUt OF
$3.50. .0Q0. Thero-was~also . floating
debt, but not too large TO be paid of
By the Charlotte Railroad stock q aaniG
gas sEo6KtEeE owned By The sis;."'-1rr city" II
those days. a'ta1 OF Std,tsr Std,tsrpperIde pper deht:: was
levied Oh areab essate,', estimated at
$500. 900. and ., moderate sum was
also received into the city Treasury
from licenses. No tax was levied on
personal property at ALL The two
sce-cea ef income to the city realized
about $55. 900, $685. 900 being from
the tax on real estate and $40, 900
from licenses. We have now levied q
: tax Of ~ cents on real estate and per-
sonal property, realizing from the
former $52. 500, and from the latter,
assessed at So. $50. 600. $32, $50, and a
license tax which brings In about
$50. 900. aggregatiDg $114. 75O, and
showing an increase of annual receipts
into the city Treasury Of $50. 600 under
Kadical rule over what was previously
collected. Notwithstanding this liberal
and abundant income. the city govern
ment is in state OF perpetual embar-
rassment. At the very time ths taxes
were paid in, and when We would have
supposed the Treasury should be over
flowing, the Council borrowed, or was
trying to borrow, money at ~ per
cent. month. and they have been
compelled to part with several of the
mules and horses belonging to the
city. and necessary to do the street
work and keep them in a cleen aud
healthy condition. In running over
the proceedings of the last meeting of
Connoil, we observe several claims re-
ported back without accommodation
or postponed for future consideration,
and others ordered to be paid by city
notes. receivable for taxes. a resolu-
ton was introduced by Alderman
Purv;s, to empower the Committee Of
Ways aud Means to borrow 81, 600 to
pay OF city employees. This was
ordered for future consideration, but
by another motion, the committee was
empowered to make arrangements, Ito
borrow money. we supposp,) to pay of
the city employees and feed the city
mules. The poor old city is suffering
from prolonged and sharp attack OF
impecuniosity. With a fine income,
1t lives from hand TO mouth. Now,
what becomes of the money?
The City Treasurer reports the debt
of the city, as far as he has been able 10
ascertain, to be from: Bonds, $685.
600; interest on above, due and m
paid. 53.28l.5O; bills payable. &C.,
128 36; bills ordered for payment and
salaries and wages. ESTIMATED. J
9.805.27; water contract; IL, 1893; total,
703. 1913. Or an addition of over
1858. 900 to it in four years. or nearly
$50, 900 year. Add this annual debt
thus contracted to the income from
taxes aud licenses, and welget 1908 1000
as the sum OF annual expenditure-a
aum quite sufficient to run The State
Government, if conducted on basis
of economy corresponding to it's dege.
nerated and scanty means. When the
Radical Legislature, in March, 1872,
authorized the Mayor and Aldermen
of Columbia to borrow money, it went
to the extreme limit of extravaganza.
in allowing them to issue bonds to the
amount of $500. 900. They authorized
them to borrow money in the terma OF
the Act, "by issuing city bonds, from
time to time, to an amount which, to.
gether with the outstanding indebtedness.
of the city of Columbia, shall not er
ceed The sum Of $500, 900, it being
thereby intended that the aohole indebs
edaess thereof, whether by bonds O,
otherwise, shall at no time be Increased
beyond the said sum OF $500. 900. ;
What will the City Council do aboni
the excess over the amount which they
were empowered to contract? What
will the sapient Legislature do about
it? The Radical Council has bank
rupted the city, and driven away bust
ness from it by its taxation, its extra