The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1875-06-30
The Finances of the City.

ultlOh "a lAC Clty vi Dy 1tS
property-owners and taxpayers will cx-
cuse me for again participating in this
discussion by calling attention to some
things Hon. l.. Cass Carpenter has to say
concerning it. Before taking up any Of
his figures, take the liberty of placing
in one group several admissions made by
Mr.. Carpenter, as follows:
at is true that the city debt has been
increased by n large amount since 1870"
81 nm quite we'll aware that the rate of
taxation has been increased nearly dou-
ble whit it was in 1870" "There has
been waste, extravaganza, mismanoge-
ment and other kindred evils accom-
panyinS the administration Of city at
fairs. "
These admissions embrace much that
has been charged by the Citizens Com
mittee, and ought to close the contro-
versy. The set of men who have brought
so many evils on tho city, should make
way for others, who might manage mat
ters better. \ new set, of whatever pu-
litical party they might be composed,
could do no worse 1t is probable that
they could ut least work reform of
"other kindred evils" by which must be
meant bills for ''sundries," water pipe
contrncts, taken by the Mayor ut six
cents per pound, that could have been
lOI lcSo tllilll lOul CtDtS, tIlu
other jobs gotten up ut the expense of
the Taxpayers for the benefit of the City
Council. Honesty, economy and good
management arc wantcd-nothing else
The amount of the debt Mt the begin
ming of the administration of Mayor
Alexander, seems to trouble Mr.. Carpen-
ter very much, and every new statement
varies from all the preceding ones
Three statements present the following
contrast:
Debt obtained from city re-
cords. $500, 324 10
Gen. Stolbrand's statement 499, 600 90
Mr.. Carpenters statement. 5OG, ,453 30
The coupons supposed to be unpaid
at the beginning of the administration
are thus variously given:
Gen. Stolbrand's S statement. $50, 600 90
Mr.. Carpenter, Mt Parkers
Hall. 45.175 90
Mr.. Carpenter, i'll PHGNIX. 80, 476 90
AS neither of these gentlemen take
into account the large amount of coupons
funded into bonds and paid IN that way
prior to 1870, it is certain that the figures
of both are gross exaggerations, and that
the actual amount of coupons unpaid was
very much less than the smaller of these
three estimates.
Referring to Mr.. Carpenters Parker
Hall speech and his statements relating
to payments of coupons generally, in
vite the public to the following state
ment he then made. He calculates the
interest unpaid at the beginning of
Mayor Alcxander's administration to be
S45, 175. He then estimates that during
the next four years there were over-pay-
ments of interest to the amount of
ST., lit over the amounts falling due in
those years; that is, during these four
years, coupons to the amount of S25, 942
were paid beyond the total amount due,
including all arrcnrages. This could
have happened only by paying this
amount of coupons twice. 1 make no
charges, but simply deducc from Mr.
Carpenters own figures their logical
conclusions If, then, to this over-pay-
ment, be added the S60,0OO of unpaid
coupons admitted to be outstanding ut
this time. the Taxpayers have good rca-
son to wish n change and reform in the
financial management Of the city.
The account for special interest was
kept separately from and after the lst of
january, 1873. Mr.. Carpenter asserts
mot only WAS all the money realized
from the specinl tax paid for the purposes
for which it was levied, but hundreds OF
dollars i'll addition, SO that not dollar
OF special interest WAS ever used for any
other purpose For the two years, en-
bracinS the period from january !, 1873,
to December 81. 1874. the account
stands AS follows, taken from the records
of the City Treasurer:
Special tax collected .. sci, ATS -
Coupons paid. ........... 3D., 500 10
Balance Dec. 81, 1874. .... S5,S 40
The balance on April 80, 1874, which
may be regarded rs the financial close of
Mayor AleXander's second term, was
So, ,914.3 80, direrted to other uses during
the period when AIr. Carpenter WAS
Chairman of the Finance Committee,
and had the whole management of the
finances of the city under his official
charge.
The report of the Citizens Committee
makes the balance of city currency out
standing May 81, 1870, at SIG, ,2Ol.1O.
41r. Carpenter asserts that the true ba-
lance was $31 ,877.55, and that "during