Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1875-06-01
Meeting Of the Common Council.

An adjourned meeting of the Common Coun.
Gil was held last ughi, for he official proceed
ings of which see another column Of to.day's
Gazette. Twelve members Of the Board we're
present, with three spectators without the bar
to watch their proceedings.
The consideration of the bill to appropriate
the cltys revenue for the next fiscal year being
the first business in order, the question was
upon an amendment offered by Mr. Hug hes
striking out S6l, 800 Tor paying the interest
on the funded debt ard inserting in lew thereof
$4,000.
Mir. Hopkins moved to amend by striking
ont SCI, 500 aud inserting S5G, 500, as that sum
he thought would be sufficient to pay the inter
est that would be demanded, aud if the uon
resident boudholders could be taxed, which he
thought was possible, or ii any meaos could be
devised for bringing back to the city the bouds
owned by residents but sent away TO AVOID be-
10y taxed, aud the tax on them be collected,
there would BE- surplus i'll the treasury.
Mr.. Broders would like TO see foreign bond
holders taxed, or if that be uol possible 10 have
the tax collected upon the interest due them.
He had heard il stated that the courts had de-
cided that foreign boudholders could not be
taxed aud had read u decision, III which the
case was one 10 which State had attempted
to levy tax un d foreign bondholder, but he
was not certain that the decisions referred to
would apply to tax levied 10y municipality
He, however, favored tho lcVylng OF the iull
amount TO pay the interest on the bouds, aud
if there should be any surplus 1t Guild be ap-
propriated to the redemption OF the bonds. -,
Mr.. llopkius Was also IN favor OF !evylng all
that would be required to pay the interest
that intercs; vas uuc aud should be pad-but
there was no reason why more than would be
needed should be levied. The estimate OF the
Finance Committee showed that there would
be surplus, and II by his motion that surplus
wGu,i be reduced $4,000, it was the duty ot
CouucI TO make that reduction and 10 make
| taxation SO much tighter.
Mr.. Eichuerg SAID it was folly to talk abou!
making people who had gene 10 the trouble oil
sending their bonds out Of the city 10 avoid pay
| iug taxes gu them bring them back just to nave
them taxed He was 10 favor OF ievylng the
whole amount stated in the bi-not because
he was personally interested, for he had not a
dollars worth of the bouds-had always been
able to invest his money more prohlabIy-but
because when Contract Was made With bond
| holder to pay him SIX per cent II Was but right
and just to fulfil the terms OF that contract ln
an interview he had with the member from the
Second Ward (Nlr. Broders) that gentleman
| had favored taxing the Interest paid to foreign
bondhoders, and impressed by what he had
heard he had consulted a lawyer OF the city,
who told him that such an attempt could but
result 10 failure r. sideut bondhuders could
be taxed but non-residcnts could not be, and
to endeavor to do SO would involve Us in law
suits that would certainly be decided against
| US aud add to our iDdebte iuess by heavy COSTS.
| MIR. Mckenzie said that all the bouds OF the
| Corporation were registered, aud 1t Was merely
necessary 10 look at tho books 10 the Auditor
Office to find out who owned them. tie did
not believe that SOU, 900 OF them were owed
here but were sent out Ut the city to uyold pay
| ing the tax GU m, but if desired bill could
| be proposed by which the holders OF the bonds
would be compelled to swear that they were
the bona hic owne,s before they could draw
| the interest. As to taxiog foreign boudhOlders
the thing was impossible, and Judge Waite of
South Carolina had just issued a mandamus
compelling municipal corporation to levy q
lax 10 pay legal interest on debt contracted
by it. However. it made no real difference
whether SCI 800 or $5G, 900 was appropriated,
for either would do, and il the latter amount
should prove insufficient Council could easily
pass subsequent bill making up the deficiency
Mr.. RishIell thought it better TO appropriate
the whole sum required at once aud not be
compelled TO borrow money at cXhcrbtant III
lerest later 10 the year to make up the rcqu-
site SUN.
MIR. Hopkins was not satisfied that the bonds
held outside oil the city could not be taxed and
mentioned that Mr. IiooH, cashier Of the First
National Bank had told him that the bonds OF
the city OF Baltimore were OF several kinds,
some Of which he thought were liable to taxa
ton even though held out Of that city.
Mr. Hughes said that the object OF his mo-
ton was to enable the city to pay four per cent
Oh its bonds that was as much as 1t Was able
TO pay-and if that was reputation he couldn' t
help it, Republication or not, 1t was fair legls-
lation, and it was not fair to grind down the
owners Of the real estate in the city to an ex-
tent almost amounting to cOnlScatlOn 10 oruer
to raise money with which to pay bonuholders
six per cent on bonds which many OF them had
bought for half their par value. Bonds ought
to bear their just proportion OF the depreciation
which effected all other property 10 the city.
As one of the effects of high taxation on real
estate he would be said point to the unoccupied
property on uuon street and its gaeatly deprc-
ciated value Everything that could DC seen
and those that we're not seen were huuled Tor
TO be taxed to pay the bondholder.
The President said the city had not very
take four per cent when SIX had been promised
bin, and the heavy costs attending that effort
and it's entire failure he thought had been su6i
cient to prevent second attempt in that dl'
rection.
Mr.. Hughes responded that things had
arrived at 80 bad condition that even
if the attempt were unsuccessful We would
not be much worse off, and that If
the suits were against US We could surrender
the city charter.
The President said that surrender would not
relieve Us from the debt. The contract made
with the holders Of the bonds was plain and
emphatic, and The Courts had added their au.
thorty to the obligation to pay the bond
holders.
Mr.. Shinn- Suppose the Superintendent Of
Police agrees to pay meu 5 per day for work
and they work week, cant he put them Of
by paying tbcm 81 Instead OF Sc, just as we'll