The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1875-04-09
NUNICIPAL INDEBTEDNESS.

will force itself upon the attention of the |
people and, their representatives, the law |
makers of Vermont. The evils of our pres
ent system, or want of system, in reference
to this subject is yearly, almost daily, be-
coming more and more apparent. The in
debtedness of the several towns, cities, vii
lagos, etc, in Vermont that is, the NUM-
cipal indebtedness--is equal TO about
double of the grand list In order to pay
it at once, there would be required tax of
nearly two hundred per cent, provided the
Indebtedness was equally distributed among
the several municipalities of the state. But
it not being 80 dstribIted-some towns
beng entirely free of debt, while others
are indebted in an amount many times the
amount of the grand list-a general pay
mcnt of the debt would be harshly oppres-
sive to the taxpayer For instance the
town of Rutland, with grand list of thir-
ty-nine thousand five hundred dollars, owes
some one hundred aud thirty-three thous-
and dollars, to pay which, at once, would
require tax of some three hundred and
fifty per cent. In addition to this, the VII
lage of Rutland is indebted to the amount
of some thirty thousand dollars, which
must, also, be paid by taxation. Rutland
is not alone. The village Of St. Adams has
a constantly increasing debt, now amour t.
ing to some ten times the amount of her
grand list ; and other towns, villages, or
school districts, are IN the same boat.
The deLt of Rutland and of st. Adams
has been incurred entirely for municipal
purposes, as is the case, also, with many
other towns and villages, as well as with
all school districts who are blessed with a
debt. 1t ought to he no particular hard
ship to pay this class of Indebtedness. 1t
was incurred with the eyes open, and with
full knowledge of the self-cvident fact
that it must be pad. The municipality,
and every person within it, has received
the benefit of the expenditure of the money
so raised and those who dance must pay
the fiddler But benefits procured in this
way are not appreciated. The benefit is
too widely distributed to become personal
matter. When the memorable day of pay
ment comes, as come it must, IT seems like
paying for our neighbours dead horse-not
like meeting a just debt, not like paying
for that which We have enjoyed, not like
rendering qutd pro quo. But there the
debt stands, and it must be paid, and
so we pay it by borrowing again. If voters
and tax payers feel in this way relative 10
debts for which they, in their collective ca
pacity, are primary liable, is it any wonder
that towns, when called upon to pay debts
for which they consider themselves only ac-
commodation endorsers, and which they
had been made to believe they would never
have to pay, hesitate, defer, resort to the
courts, and finally borrow again? And
yet large number of our Vermont towns
are LARGELY irdah'od in tito ~vay. thy
'lent their credit" to railroads, being guar
anteed, with fine promises and glowing
prospects, against the payment of principal
and interest. They did not endorse IN
form, but believed they were doing so in
fact, They issued their bonds, but this
mattered not, they thought, as they would
never be called upon to pay them. The
town of Bennington, with grand list of
some nineteen thousand dollars, owes about
one hundred and forty eight thousand dol
sued to aid in building railroad. The
past due interest on these bonds WILL in
July, be equal to double of her grand list,
and she is cndeavoring to escape the pay
ment thereof by resort to the courts.
Her situation is no different from that of
many another town in the state. Rutland
just escaped being in a similar position.
There is no particular harm, there may, be
much good, in the the issuing of the bonds
of a town to aid in building railroad
under certain circumstances. We believe
that Rutland would have been benefited
by contributing TO the building of rail
road to give us an eastern outlet, by way
of Woodstock or Bethel But the great
harm is that these class of debts are con-
tracted without any intention OF incurring
any liability except in name. We venture
to say that but few towns in Vermont
could even be persuaded to 'lend their
credit to a railroad, if they were not con
WINGED that the railroad would "take care
Of" the principal and interest of their debt
They are easily persuaded of this, and de-
string new railroad connections, bonds arc
issued debts are incurred, and the day OF
Reckoning finds deluded people unwil
ling, and perhaps unable, TO pay. Litiga
ton follows, strife is stirred up, and the
debt is finally paid, but only by mourning
another debt The country is full of these
instances and a remedy is demanded. The
power to contract Indebtedness must bt
limited or entirely Withheld, and the obliga
ton of prompt payment must be enforced
Massachusetts is alarmed at the amour
of the Indebtedness of the towns and cite
of that commonwealth, and is already
moving in the matter. Yet her municipa
Indebtedness is not, proportionately, an,
larger than that of Vermont. A bill is nov
before the state legislature, limiting tn,
whole amount of Indebtedness that can b,
incurred by municipality, providing tina
such Indebtedness shall not be contracted
except for supplying the Inhabitants will
pure water and for general sewers, tow
and city halls, aims houses and other ex
traordnary and permanent improvement
of like character and for these purpose
only "by vote of two-thirds of the legs
voters present. and voting by ballot an
using the check list at the meeting at whic
such expenditures are voted" The object
for which Indebtedness may be incurred
it may be seen, are limited solely to thos
affecting the municipality directly as mt