National Republican. (Washington City (D.C.)) 1872-1888, 1874-12-08

We have been requested by different influential
parties to make some suggestions in regard to
the funding Of the Indebtedness Of the District,
committee Of Congress I'd connection with the
question Of a permanent form Of government,
District and its obligations we deem It out Of
L place to do more than make a general recon
mendation to that effect, not including in this
now being issued under direction Of Congress.
Calling your attention, however, to the numerous
forms IN which the debt Of the District and late
corporations is evidenced, as exhibited In the
| statement hereto appended, We trust that some
| measure will be adopted looking to its
| conversion into a harmonious shape, pro-
| vided with such guarantees as to interest
and sinking fund as shall secure simplicity In
| management, uniformity, and such full credit as
will cause District bonds to rank with those Of
other well-managed municipalities, and Justify
! the conversion Of the present varied and incon-
Venient forms Of debt.
moments consideration will show the i'm
possibility Of placing in any other than the
home market, a number of small loans ma
turing at different times bearing different rates
| ofinterest and under different designations.
We forbear to express any opinion whether 1t
would be better for the Government TO assume
the debt under such equitable conditions as Con-
gress in its wisdom might determine, or tc au-
thoriZe the District government to issue bonds
under the proper guarantee Of the United States,
both to the principal and interest but certain
ly feel justified in recommending that one uniform
bond ito be either registered or coupon, at the op
tion Of the holder,) be authorized into which our
The following account will show the amount Of
money and bonds which have been received by
the commissioners from the District Of Columbia
authorities and from other sources, and the dis
position which has been made Of the same, to the
date Of this report. In closing our report we
would acknowledge our Indebtedness to the gen.
tlemen detached from your office for their able as
sistanee in the arduous duty Of its preparation,
and in more special manner to Mr.. Guthrie, the
chief Of the division Of accounts Of the United
states Treasurer's office, and his corps Of assist
ants, for their aid during the past four weeks in
reviewing and more perfectly systematiZing the
manifold accounts Of our commission from its first
beginning to this date.
We have the honor to be, very respectfully,
your Obedient servants,
IL. NJ. SwEENY,
LEWIS ]. DAVIS,
W. W. CORCORAN,
MOSES KELLY,
Commissioners of the Sinking Fund.
To The Commissioners Ofthe District Of Columbia.
Exhibit Of funded indebtedness of the District of
Columbia and Of the late corporations of Wash |
ington and Georgetown.
or the District of Columbia.
Permanent improvement coupon
bonds issued under act of Legisla-
tive Assembly approved 10th July.
ISIS per cent gold interest. q 100000 90
Permanent improvement coupon
bonds, issued under act OF Assem-
bly, approved sd June, 1871 per
cent. currency interest. 100000 90
Permanent improvement coupon
bonds, issued under act Of Assem-
cent. currency interest. $4,000 90
Chicago relief bonds, Coupon issued
under act Of Assembly approved
18th October. ISL per cent. cur
rency interest. 10000 90
Market stock coupon bonds, issued
under act of Assembly approved
rency interest .....t..... mn. I52, 400 90
Water stock coupon bonds, issued
under act of Assembly approved
10th July, ISL per cent. currency
interest ......... $4,000 90
Water stock coupon bonds, Issued
under act of Assembly approved
interest. . r ................. $500 90
'ounty school coupon bonds, issued
under act of Assembly approved
Interest. .oO ~, ''. 1870 90