The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1875-04-24
VILLAGE FINANCES.

The report of the financial affairs of the
village of Rutland is, perhaps, as satisfac-
tory as could be reasonably expected. The
debt has been decreased $3,529.8S against
a decrease of S,7SS. 66 in 1874, and All in
crease of $9,0l0.43 in 1873. Both of these
decreases are, however, more apparent than
real. To offset the figures given, and to
show the exact financial situation of the
village, 1t must be stated that in 1874, the
village owed for interest ON reservoir bonds
fifteen hundred and ninety dollars more
than it did in 1878, and that there is a sim
liar and an additional amount of accrued
and unpaid interest over and above that
due one year age, neither of which sums
have been taken into account, so that the
actual decrease of Indebtedness, as shown
by the report this year, is 81 ,226.S7 of prin-
cipal and interest Of orders, while last year
it was S6,530.S5. 1t must be remembered,
also, that last year the village tax was fif-
teen per cent more than for the present
year, netting an additional sum of nearly
three thousand dollars. The current ex-
penses of 1874 were, moreover, limited to
the money received from the fifteen per
cent. tax, the village, exasperated by the
lavish expenditures of 1878, voting that the
money raised at the annual meeting-fifty
cents on the dollar-shonld be "paid into
'ihe treasury and applied to the cxlin-
punishment of the debt" The current ex-
penses of that year were, therefore. only
S2,521 90, against So, 424. 35 this year, when
the trustees were authorized to expend two
fifths of the tax-thirty cents on the dol
lar-tQward current expenses.
From a comparison of these figures, it
will be seen that, in reality, although there
has been a less actual decrease of debt
than last year, the same policy of reduc-
ton las been pursued, and the results are
equally favorable and justify the state
ment, made at the annual meeting one year
ago, that the village is getting out of debt
with fair prospects ahead. The experience
OF three years shows that it is as much an
act of folly on the part Of the village to
attempt to place too low limit ON cur
rent expenses, as it would be to leave them
entirely unlimited. A reasonable calcula-
ton will enable the trustees to make an
approximate estimate of the necessary and
legitimate sum required for current ex-
penses, and this sum should be placed at
their disposal, and they should be held to a
strict accountability for its expenditure.
Parsimony is as rnwise as extravaganza.
Indeed, in the long run, we do not know
but what we should prefer occasional en-
travagance-for that can be corrected.
But occasional or continued parsimony en-
tails large future expenditures. Parsl-
mony is but saving at the spigot and vast
ing at the bung.hole. 1t is as different
from wise economy as it IS from extraya-
gance. What we need is that wise econo.
my which is mean between the two.
We know not whether that golden mean
has been reached-if it has, let us remain
there. II not, let us reach 1t as speedily
as possible. 1t will never be attained OF
retained by simple votes in village meet
ings. Capable and honest trustees arr
wanted, and they can be had. If we hay,
them now, let them be retained if not