The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1874-04-02
our CitY Finances.

tcoNMuSicArEn.l
We regret to notice the action OF the City
Council at itsmeeting OF the enty-fonrth.
We regret il, because so far from correcting
the existing evils complained OF, they SAW
fit TO proceed further in the same direction
We hope this action viii not be sustained,
but that when we can get full council sc
the board the same win be corrected, and
our finances, both for the present and in fu-
ture, win be placed on a firm basis.
Three things are reported as occurring at
the meeting which attract attention.
1. A petition Of the police to have their
salaries raised, which was referred 10 the
Committee on the Police. There was no
proposition to reduce the police force nor 20
reduce any expenditure whatever.
9. The City Council agreed TO sell
$50, 900 coupon bonds Of the city bearing
ten per cent. interest and payable in twenty
years, TO be negotiated at not less than sew
enty-fye cents on the dollar; thus permas
nently increasing the debt, and calling for
an ultimate taxation of 500, 600 topay these
bonds and their interest.
g. They created an additional office, max
ing Forster & Co. financial agents, agreeing
to pay them one and one-haf per cent upon
the negotiation; by which means the
$50, 900 bonds, exclusive Of the expense of
L
ury $14, 200.
Then It appears that for $14, zoo to be
paid into the treasury now, we are to be
taxed to the extent of $50, 600 within the
course of twenty years.
A proposition was offered and adopted
that no work be done or contracted for till
the city was able to pay. That was a move
in the right direction. But how is the city
to be ever able TO pay for any work. unless
the expense of maintaining officers and
Offices is reducedg We have already
shown that half of the revenue goes that
way, and that by the charterit is imperative
that half the revenue at least shall be appro-
priated TO the back debts, if such an amount
exists, and it appears that we have such
debt to the amount of $13,5 500. So oil the
revenue must now be paid out, and the Coun-
ell having reduced the tax to three-fourths
OF one per cent, the sum to be raised under
the law will cover no more than to pay the
debt now due and the pay Of the officers
and maintaining the expenses attached to
their offices.
What is the consequence Under the
rule adopted, that no work shall be con-
tracted for or done unless the money is at
hand, there will not be, from revenue alone,
a dollar to pay for any work whatever on
the streets or for improvements. Hence the
expedient is resorted to OF borrowing money
again at high rates of interest and creating
an additional officer to procure the money.
For what purpose was our corporation
created2 Was it for the people, or for the
benefit of those who administer the afIairsl
If it was created for the people, they viii
feel benefited when they see the money psid
in taxes devoted to keeping up and repair
ing the Streets erecting necessary bridges
and public buildings; when it is spent for
the preservation of the city from fire to sup
ply the city with water and light. These
are the objects which the peoples of the city
want, but under the present auspices, these
things are all to be postponed unless we can
borrow money at ruinous rates.
From the appearance OF things, we think
1T was probably mistake to reduce the tax
of one per cent, and we kiiote it was q mis-
take to authorize borrowing more money,
for, practically, that Is done TO continue
our extraYagant police, rents, expenses and
salaries to officers.
II the police are not satisfied with the
pay they receive, let them resign; they are
not compelled to serve. Again, cut down
the number Of employees; reduce or abolish
all salaries where there are fees attached to
the Office; curtail in stationery, printing,
etc.; devote the taxes to the payment Of
the debts due, and appropriate the remain
der Of the money to the improvement Of
the city.
If this is done honestly and energetically,
we warrant that an amount Of work will be
done that has never been done before In this
city. II threo-fourths Of one per cent. Is
not sufficient for these purposes, raise the
tax to one per cent, and we guarantee that
the action Of the city authorities viii meet
the approval Of the TAXPAYERS.