The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1874-03-05
HOW D.,

HOW
Our new board of sclcctmcn have a diff.
cult financial problem to solve-onc which
will task their abilities to the utmost Ii
is probable that our grand list, for tbc pur-
pose of assessing taxes for town expenses,
will, remain about the same as last year
that is at forty thousand dollars 4 tax Of
fifty cents on the dollar was voted. Tues
day, for town purpose With the caus.s
that led to this result, sc nave nothing 60
dot is sufficient that the people 80 de-
cided. In the hope and prospect of large
addition to Our grand list in 1875, it may
have been. perhaps. the wisest and most
economical course In reference to this we
have, now, nothing to say-thc time for
discussion is passed, the result was obtain
ed in the desire for retrenchment and econ
omy, and nothing is left for US, the select
men, the creditors of the town and the
people, but to take things as they are. TAX
ing, then, the grand list as it was last year.
making the same allowances for costs of
collection, attachments and nou-colcctablc
taxes, fifty cents Oh the dollar will realize
and place in the treasury of the town be-
tween eighteen and nineteen thousand dol
lars. In addition to this. the selectmen
were authorized to borrow thirty thousand
dollars, payable in seven, eight and nine
years. The result is, that if our bonds and
notes are sold at par, we will find ourselves
next year, at least, ten thousand dollars
worse off than we now are. to say nothing
about interest, With this thirty thousand
dsllsrs, authorized to be borrowed, the Sc
lectmen, in one sense, have nothing to do.
1t can be used only for one purpose, that
is, what is called, for the payment of our
Indebtedness. 1t will not operate to pay
that Indebtedness, or any part thereof. 1t
will be only change of securities, putt
ing off of the evil day, an additional bur
then of some two thousand dollars wear
for the next seven years-that is additional
to what would have been if a tax had been
voted to pay a part of our debt. SO this
borrowing business don't permanently help
'''i tOiltlltiOIl. OIIlN DIlNGt5 us
over another year. Next year we will have
the same, or worse, condition OF affairs
staring us in the face, and with, probably,
the same result. The town. however. saw
fit so to act, and we bow totheir Judgment.
This is but one portion of the problem to
be solved.
Let us look at the other part. \ reso-
luton, introduced by Governor Page, was
adopted instructing the selectmon to apply
one half of the amount of money raised by
tax in payment of our Indebtedness. If
this is OF binding force and means anything
il is specific appropriation of that amount
for the payment Of indebtedness which ex-
isted and had accrued on or prior to that
day with the exception. perhaps, of bonds
heretofore issued and 10 become due during
the current year. Ii it does not mean this,
1t means nothing and is of no binding force.
II ii means Indebtedness hereafter TO be In
curred u was "A work of supercrogatiOn.
because il would be instructing the select.
men and treasurer to do that which the law
compel5 tnem to do. If there Is a thousand
dollars in the treasury, the treasurer is
bound to pay an order for that amount IS
sued and dated 10 day. in preference to one
issued and dated one, two or three years
ago, provided the former order is present.
ed for payment first. First come first
served is the rule and the law. An order
Lii 1 4. 1. 4.
to-day is rs much indebtedness. a debt
against the town, when SO signed, as Il one
issned AT any time before Tuesday It is
not, for moment, 10 be thought that Mr.
Page or the other voters Of Rutland intend
ed to go through WITH the idle form of re.
"nacting well settled law. The resolution
must, therefore, mean ''accrIcd indebted
ness, not Indebtedness IN be incurred
Then, the resolution takes out of the trea
sury some nine TIL ousand dollars to pay Ole
town orders or past due coupons. If tits
OF binding force, and we assume that it is
81 far as current expenses, for the present
year, are concerned 1t is useless. 1t goe!
forth with the thirty thousand dollars for
specific purpose. The town has, or will
have sometime within the year, Mint
thousand dollars, and only that sum, Will
which to pay current expenses, and they
may not have even that sum. We take i
that so fast as money is paid into the trea
sury, the treasurer is bound to pay 1t out OF
town orders as they are prescnted-wheth
er issued this year, last year or at any othe
time If we are right in this-and is ther
any doubt about it?--the town is left with
out one cent with which to pay their cur
rent expenses, the interest on their bonds
or the interest on the surplus revenue
funds. But suppose by stretching
point" the selectmen and treasurer ishoul,
refuse to pay old orders-that Is accrued