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

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
MIR. Carpenter, rs follows:
cit is true that the city debt has been
increased by large amount since 1870"
81 am quite we'll aware that the rate of
taxation has been increased nearly dou-
bic what it was in 1870" "There has
been waste, extravaganza, mismanage-
ment and other kindred evils accom-
panyinS the administration of city at-
fairs. "
These admissions embrace much that
hns 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. a new set, of whatever po-
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
contracts, taken by the Mayor Mt six
cents per pound that could have been
furnished for less than four cents, and
other jobs gotten up Mt 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-
r, coras. ;;,....:.: .S3!3,324 10
Gen. Stolbrands statement. 499,OOO 90
MIR. Carpenters statement SOC, ,453 80
The coupons supposed to be unpaid
at the beginning of the administration
nre thus variously given:
Gen. Stolbrand's $ statement. $50, 900 90
MIR. Carpenter, ut Parkers
Hall. ................ 45, 175 90
MIR. Carpenter, in PHGNIX S9,476 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 Alexander'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 arrcarages. This could
have happened only by paying this
amount of coupons twice. l make no
charges, but simply deducc from Mr..
Carpenters own figures their logical
conclusions. If, then, to this over-pny-
ment, be added the 5000 of unpaid
coupons admitted to be outstanding Mt
this time, the Taxpayers have good rea-
son to wish II change and reform in the
financial management Of the city.
The account for special interest was
kept separately from and after the Ist of
january, 1873. Mr.. Carpenter asserts
mot only WAS I'LL the money realized
from :hc special tax paid for the purposes
for which it was levied, hut hundreds OF
dollars III addition, SO that not dollar
OF special interest was ever used for any
other purpose For the two years, cm-
bracinS. the period from january ], 1873,
to December 81, 1874. the account
stands rs follows, taken from the records
Of the City Treasurer:
Special tax collected .SG1,47S 10
Coupons paid. ............... %, ,GO0 75
Balance Dec. 81, 1874 $5,SGS 40
The palance on April 30, 1874, which
may be regarded as the financial close of
Mayor AleXanders second term, was
So, 9l4.39, diceHed t.. other asses during
the period when Mr.. 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 Sl6,2Ol 10.
Alr. Carpenter asserts TINT the true ba-
lance was $3l ,877.55, and that .duriny
the first year of Mayor Alexander's adj