The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1875-02-26
WHICH AND WHAT J


town with a credit unimpaired
WHICH AND WHAT
The Taxpayers of Rutland will be called
upon, Tuesday to decide whether the town
shall continue to live from hand to mouth,
and pay by borrowing, or whether they
will inaugurate the policy OF paying as we
90. The town has, for several years, acted
upon the policy of putting off the payment
of its Just debts until a more convenient
season and although we have been wait
ing for fourteen years, that convenient
season has not yet come. and is, in fact, as
far off as it was in 1862. Instead of get
ting out Of the mud, we are getting deeper
and deeper in the mire. Instead of money
being M re plenty it or vs. scalcer every
day. Instead of getting out Of debt, We
either remain stationary, or become more
and more in debt. Iasead of lessening the
amount Of interest sc are, annually COM
PEELED to pay, the interest is becoming
larger and larger as the years roll on. In
otNeNt VI tHN tdAdtlOH
ened, they are beco hing more and more
oppressive. To pay tax of fifty cents on
the dollar taxes the capacity 81 the tax
payer-be the amount larger OF smaller
far more than tax of one hundred cents
on the dollar did i've or ten years ago.
Will it ever be any better? Does anyone
ever expect to see the day when it will be
entirely convenient TO pay large taxes A
cheerful giver may be blessed, but cheer
full tax payer would be rdra ais indeed.
What course will Rutland pursue? 1t is
not or duty to urge the adoption of given
policY-we have done that in years past
but only to state the facts, believing, as we
do that these will be suggestive enough
without added comment of our own.
To fully understand the situation, it is
necessary to go lack year. Preparatory
to the annual March meeting, in 1874, the
seectmen and auditors reported the indebt-
edness of the town at 1921, ROB. 14-over
and above amount of collectable tax then
due and unpaid, amount due from village
of Rutland, and value of old town hall lot,
thelat,er being estimated worth 81 ,oos. ob,,
and that these liabilities for the current ear
were, including current expenses, into rest
on the debt, and principal OF the debt due
and to become due during the ycai. $685.
40604. To meet this, the town authorized
loan of thirty thousand dollars, the prin-
.cipal payable in 1881, 1882 and 1888, and
tax of tiftyscents on sdollar-raising
some seventeen or eighteen thousand dol
lars-one-half to be used in the payment Of
Indebtedness, and the remainder to pay
current expenses. If twenty-five cents on
the dollar was sufficient to pay the current
expenses of the town, there would have
been something over thirty-eight thousand
dollars to apply on Indebtedness, although
the debt would have been actually reduced
only some eight or nine thousand dollars, the
payment of the remaining thirty thousand
dollars being deferred to the supposed more
convenient season of 1881, 1882 and 1888.
But the Indebtedness was not reduced some
eight or nine thousand dollars, but. on the
contrary, it has only been " slightly re-
duced,' that is $176.33 A part of this
debt, thus provided for and expected to be
paid during the year, consisted of ten bonds
of five hundred dollars each, and fifty bonds
of one hundred dollars each, all amounting
to ten thousand dollars, and all maturing
during the year 1874. But of this only one
thousand dollars was paid, and we are left
with nine thousand dollars Of past due
bonds to pay, in some way, this year
Shall we tax ourselves, or borrow again?
But this is not all or the worst. Not
withstanding the loan of last year, we are
this year, confronted with the question Of
raising thirty-nine thousand dollars-or, t.
be exact, $36, 952. 81 with which to NEE
the Indebtedness due and to become due
and to pay the estimated current EXPENSE
decreased grand list. To meet it will re
quire, if We pay as we go, tax OF ovel
one hundred cents ON the dollar. If W.
again put off payment to that tabled mor'
convenient season, we must not only Dor
row again, but to keep the debt from in
creasing too fast, we must tax ourselves
nifty cents on the dollar, all of which will
be necessary to pay the interest on GU
bonded debt and the current expenses fol
the coming year. We assume that tn,
town Will, as matter of course, vote Ia,
of fifty cents on the dollar, in order to pa,
its interest and current expenses, but wha
will it do with the other nine or ten ihous
and dollars? Nine thousand dollars of ou
bonds are overdue and still unpaid, and tel
thousand dollars more comes due durinl
the present year. To meet these, will the,
vote an additional tax Of some sixty cent
on the dollar, or will they authorize the is
suing Of some twenty thousand dollar
more of bonds When the subject Of Dor
rowing is being considered, il will be wei
TO remember that we have already obi
gated ourselves to pay ten thousand dollar
year for each and every year to and in
GLIDING the year 1883 And in asking our
selves the question twill it pay" to borrow
and thus put off the evil day of payment
perhaps until all of Rulland's present tax
payers are gathered to their fathers. /
would not be out of place to recall the fac
that, since 1862, we have paid more none,
for interest than the whole amount of GU
present Indebtedness. 1t may behoove us
also, to consider the question whether thi
large ebtedness-which must be pan
some day-will allure or repel others iron
casting their lot and establishing their bus
mess in Rutland. But shall it be taxes 0
borrowing?