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

dltlon of the city of Columbia by its
propcrty-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
Mr.. Carpenter, rs follows:
cit is true that the city debt has been
increased by large amount since 1870"
81 nm quite well aware that the rate Of
taxation has been increased nearly dou-
bic whit it was in 1870" ''Thcre has
been waste, extravaganza, mismanagc-
mcnt and other kindred evils accom-
panyinS the administration of city at-
fairs.
These admissions embrace much that
has 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. 4 new set, of whatever po-
litical party they might be composed,
could do no worse. 1t is probable that
they could ut least work n reform of
"other kindred evils" by which must be
meant bills for ''sundries," water pipe
contncts. taken by the Mayor ut six
cents per pound, TINT could huve 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. Cnrpcn-
ter very much, and every new statement
varies from all the preceding ones.
,fofa a.. II
contrast
Debt obtained from city re-
cords. s........... S399,32i 10
Gen. Stolbrands statement. 499,00 90
Mr.. Carpenters statement. 50G,4 35
The coupons supposed to be unpaid
at the beginning OF the administration
arc thus variously given:
Gen. Stolbrand'S statement $40 600 90
N1r. Carpenter, ut Parkcrs
Ilail. ....:... 40, 10 w
Mr.. Carpenter, in PHENIX S9,47G 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.
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 ut the beginning of
Mayor Alcxander's administration to be
S45, 10. 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. ! make no
charges, but simply deducc from Mr..
Carpenters own figures their logical
conclusions. If, then, to this over-pay-
ment, be added the SG0, 900 of unpaid
coupons admitted to be outstanding at
this time, the taxpayers have good rca-
son to wish IL 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 all the money realized
from the special tax paid for the purposes
for which ii WAS levied, hut hundreds of
dollars i'll addition, so that not dollar
of Special interest was ever used for any
other purpose. For the two years, cm-
bracin2. the period from january ], 1873,
to December II, 1874. the account
stands rs follows, taken from the records
of the City Treasurer:
Special tax collected - .SGI,i7S -
Coupons paid. d............ 55, G0J 10
Balance Dec 81, 1874 So, SIS 10
The balance on April 30, 1874, which
may be regarded rs the financial close of
Mayor AleXandcr's second term. was
50, 914.39, direrted to other uSes 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 ont
standing May 81, 1870, ut 6,2O1. 10.
Alr. Carpenter asserts that the true bn-
lance was S3l ,877.55, and that during