Port Tobacco times, and Charles County advertiser. (Port Tobacco, Md.) 1845-1898, 1875-10-01


First the debt in the aggregate, is $32,-
095, ,225.77. Of that sum, $S,104, 500, was
contracted since 1867, under votes OF the
people to whom the matter was referred
by laws of the State. Deducting this
there is left balance of $23,991 ,225.77 ;
against which the City holds investments
which yield to her at least six per cent.
upon $25, 1871 This leaves debt
to be met by taxation of only $6,257 $40
t95.
A strange misapprehension seems to ex-
ist in the minds of some, even merchants,
that profitable investments increse the
debt of those who make them instead OF
being sources of gain. Does merchant
who has funds not required by his bust
ness add to his debts by investing his sur
plus in profitable stocks? Certainly not
And. yet, this is what the City has done,
and it has done it for the purpose of ben
citing the people.
The improvements for which this money
was advanced were Railroads, Turnpikes,
Parks, Water Supply, and other like mat
tcrs, all of which increase the trade of the
City and promote its interest and wealth.
Now, as to the taxation. 1t was, as be-
fore stated, $1.4O in 1867, when the Re-
Ipublicans were in power. and it is now
$3.50. What has caused this increase 3
The eight millions referred to, of which
the floating debt left by the Republicans
is part, bears an interest of six per cent,
and has to be met by taxation. To pay
the interest thereon, requires tax of
about 30 cents on the 800. And this ac-
counts within twenty cents, for the in
crease of the Republican tax of $1.4O in
1867. The result must be admitted to be
not only as good, but better than that of
any of the large cities OF the country.
/ Nor, is there anything startling or alarm
/ ing in the rate of taxation here, as compar-
ed with that of other cities. For example,
( in 1874, taxes were as follows: In New
( York, $3.50; in Philadelphia, 1920; in
Cincinnati, $233. All these cities are un-
derstood TO be in a prosperous condition.
( If this view be correct, (and upon ex-
animation | am sure it will be found so, }
the apprehensions which are entertained
by some good men cannot but be seen by
( themselves, to be groundless, if they in
vestigate the subject. And in conclusion
on this head, there is one fact which
proves the confidence of the public in the
City-which is, that its six per cent. stock
is readily sold at from three to four and
even six per cent. premium. A remark
or two, in relation to the financial condi-
tion of the State.
do not recollect exactly what is the a
mount Of her debt-a portion of it was,
no doubt, contracted during the war.
The charge that unnecessary extravaganza,
amounting, it is said, to corruption, has
characterized the State Government since
it came into Democratic hands is made in
general terms, and cannot, therefore, be
specifically met 1t is mere railing ac-
cusation, easily made, but impossible to
be rcfuted except by positive denial. In
the words of Mr.. Webster when meeting
an insinuated charge of want of loyalty to
his country, n railing accusation, is IAN
imputation without time, fact, or circum-
stance" But it is conclusive evidence
that there is no want Of confidence in the
management of the State finances, that her
stock sells at premium of from six to ten
per cent, depending upon the character
Of her different stocks, some of them being
payable at an earlier and some at later
date.
+ Fellow Citizens. it is possible, and per-
haps probable, that there may be bad men
in the Democratic party in office in this
State, as well as in other States, but the
way to deal with the fact, is to expel them,
and not to abandon the party. Such men
have been found in the Republican ranks
and their conduct has been brought to
public view and public indignation as
we'll in Congress as in the District OF
Columbia and elsewhere. And, yet, the
Republicans would consider it a gross
outrage to charge the party with their
misdeeds.
/ Whatever ground there may be for i'm
putting misconduct to individual members
of the City Council since 1867, l do not
believe that any intelligent and fair mind
ed citizen las ever challenged the integri-
ty of Mayors Banks and Vansant. On
the contrary their integrity has been ad-
mitted and their devotion to the interests
of the city conceded. The only objection
that have ever heard urged against Mayor
enough His fault was stated to be that
he does not see how certain it is that ex,
penditures of money for any Improvement
are sure to benefit the city. 1t is no doubt
true that he watches the treasury with q
never ceaslng vigilance, and that his OBJ
ject is to save the people from any unne,
cessary taxation. He may not be as fal
seeing as the friends of progress, but if he
! falls short, he errs on the right side as fa1
as taxation is involved. Assuming now
as possible that the Republicans may get
the control of the city, what will they do
with the present rate of taxation? To re-
duce it would be, to that extent, to leave
portion of the citys engagements unli-
quidated and that would be repudiation
and a dishonor to the city, greatly lnjuri-
Gus to its financial credit No merchant
who is alive to his own honor would for
a moment sustain party that would a
dept such a measure.
Lastly. I have before said that intrinsi-
callv important as our local elections are
they possess an additional importance in
the bearing they will have upon the next
presidential election. Should your nomi-
nees for Mayor, Governor, Attorney Gen
eral and Comptroller be defeated, encour-
agement will be given to the now waning
prospects ~of the Republican Party
Maryland and Baltimore,-Republican-
will be said to be conclusive evidence that
the people are being satisfied with the
wisdom and purity of the administration
of the general government, that credit
Mobillier and Pacific Mail corruption arc
forgotten or not credited that the Presi
dent was right in dismissing by force from
the Legislature of Louisiana part of its
members, and was right in his avowed
purpose to overturn by force the legally
adopted Constitution of Arkansas, and
was right in not condemning the course
intended to have been pursued by Gen
Sheridan in three Southern States, to try
by drum head Court Martial thousands OF
their citizens upon the allegation that they
were banditti; and was also right in not
rebuking the Secretary of War for tele.
graphing Sheridan that ''the President
and all of us approve ofyour course"
1t is, therefore, the clear duty of every
Marylander who loves his State and coun-
i I 4