, 1875-05-16

NkhAI N-&6.. Gun ~
ARRfeRaH o. sAzAaou. Co. III 60
Tbs debt was eouAl to $3.50 and th
Konun tax to $21.55, per head OF the popu
htion of ths twenty four cite. Tnes.
debts and the annual taxation ars on the in
crease. The debt Of these cities, ia OYER II
per cent Of the asBsssed value Of their taxs
bic property.
This condition Of things, VII sch makes liv.
ing IN cities 50 costly, is tho IT suit of an am.
h:tion On the part Of Municips Governments
to expend sl1 the money tfy 81 can raise bv
bos7oTingor otherwise On P ahHc credit In
tds meantime, taxation ia pr shed To tho ut
most Limit, and, between pr ,seat taxation and
The coastantl5-growing d ,bt, the owners Of
frups7ty in large citi Is are taxed down 20
close to thsir incomes rom such. property
Kant it ceases 70 bs Of value. No more fatal
policy csa ba followed in cities than heavy
taxation aad the cre:.6, m Of laree debts. 4
iii ses away population and business. Ta1a-
ton IN New York City first drove the manu-
tact11es to New 9eu ,ey, and has driven a
lTgs population: 1T merchants to reside in
the 5a1ne STATE and. t,ver the line in Connect.
cut When labor. eau be IS we'll na;d elsa.
There, and can 1la ze house-rent and living
cheaper. it will . 5andon the heayilv-taxed
nzAd debt~5urde:.efi cities.
Our Municipal Governments have M fifth
II ths wisdom OF successors They engage
N costly ro:sxz. of Improvement which in
o:ner eou2Hie's would be slow OF ereo-
son' be pald Gar BY 9maN snnusl taxation.
eao' ~heA COZ ipleted- would Be Of durable
construction while here they uust bs CON-
Fieted In ths shortest possible tine. To raisa
tie money tor thcse works bonds a~e issued.
enormous ca ntracts granted, half the money
s s'olen or squan1ared in imperfect work.
hoo inc 1u sure generations have either to do
II aA over on abandon it altogether. The
ns'ory o1 tho debt Of al cities in this coun-
" VIII a sc!ose that this is tbs uniform ru1e.
1~en7} ysara ago, the great evil was the
enorml! Of the State debts. Forty years
ago, thu ststes plunged heavily into tho debt
eoau@ ting business, and have ever since
been struggling to get frse. Notwithstand.
ing ehs liabilities incurred during tho War,
most Of the Northern States have made ereat
p1ogT ess In paying of their debts, and many |
oi than cru now free Taxation for Stnto
usioses II now, as q general thing, quite ]
hgha While the Stato Governments hsre
eesn paying off their dobta and reducing
taaaslon, minor municipalities hnvs Rone
heavily into debt. Twenty ye.u $50, tho
State Of Illinois staggered under debt of
1en mathons OF dollars, and tha taxation re-
CURED 70 n:set it. There VIVA then compare
o7elT 40 municipal dsbt- The magnitude Of
lbs STATE, debt seemed appalling. Now the
state h out OF debt, and thu minor munich
psnaes--the cities, towns, districts, md
souae1e s--owa an aggregate exceeding e4o,-
So,uo. 6tats tax.tion hsa declined 10
'ain1r aum, while local taxation has assumed
l"sn ease proportions The aggregate an
aua' taxation ct nj kinds In this stats il
aac1ty less than &25, ,ooo, 900.
"ase1y, the people of Illinois hay,e put s
<aop 70 the ancreasa ot municipal debt, and
osSe paeed limit thereon. Though Chicago
A.71 Inc nre was sorely ambarr assed and
c<'pp1eo 1or tho want ct money, it is parhnns
Ioteo1ase taat she was under the rstrai.tz ~
II" consas sutaond limit Had tht.re been no
sacA raftactiou, and the rnunic,na1 onvrrn. |
ne1t vas tree 70 borrow money On bonds. Il
= n1et5 ftsat cur municipal bonded debt Il
A1s atno woctd reach the exact tsun, Of MONEY
hat the world could hive be.n ;ndncad -
CAL As It i, without tie addibon Of A dol.
g. to tee city dsbt sinoe ths adoption Of th.
IN 1870. Chicago bae got along.
Embarrassed, 'tistrue and se'aor.s pe.ple1ed
'as nererthe}eas successfully. Her bonds .rs
ieoTs par and her credit ~1s happily shown
ts~ days eince, when tha oomptroller made
1empoFnry loan of over tw o millions Of dol.
a9a At & per cont interest," II
-. - y not probable, thsrefors, taa. thu
.en" a Tho &nunicipa1 &i,,s Of Illinois III, la
resa Il they sts increasing in New
.o.x and Various e.1.sr statas, Tho tsta, !,
-. estans Eerasy On bonds, and thu !.
'>'@'<2ee mania ser H!,sadine asAsz teoplst