The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1875-01-12
GheGntelIigetl1rle,e:r' i
Municipal indebtedness.


In looking over the indebtedness Of the
cities OF the country, the average per capita
shows that Wheeling ia rather enviably
situated as compared with cities Of her
grade. The sixteen largest cities OF the
country Those having over 100000 inhab'
itants) show per capita Of debt Of $50.
Forty cities having population Of $4,000
each show per capita Of $40, Fifty
cities. having a population Of 10000 each,
show per capita Of $50, while twenty
two cities having a population under 90
900 each show per capita OF $92 each.
Wheeling belongs to the third grade of
cities-ylz,-those having over 10000 In
habitants (her population being q, ,OOO)
and counting her debt at $4,000 (which
INCLUDES three.toprths Of the county dsbD
her per capita Is only s2s, while the av'
eruge for cities Of her grade Is $50,
The average OF the aggregate city debts
Of the country Is S5S for every man,
woman aud child living under Wupielpal
corporations, In New York City tho
average is. upwards Of $3.50 per capita,
Its q fortunate thing that in some States
tour own among the number) there are
Constitutional provisions prohibiting the
increase Of municipal indebtedness be-
yond certain per cent OF the taxable
value Of property, for 1t now appears
that the people Of this country are
actually loaded down with nearly twelve
hundred millions Of dollars Of municipal
indebtedness. And thiSin addition to the
National debt Of two thousand millions
OF dollars. Such an amount Of debtas this
seriously interfCrcg with the prosperity
Of the country In connection with the
vast amount Of private Indebtedness 1t
rests like d great dead weight upon the
labor Of the land, for all the tax
to pay the interest Of this debt comes
off the producing capacity Of the eoun-
try. II Is estimated that the people of
this country now pay between ak and
seven hundred millions OF dollars per
annum In nthelway 6fNaxcs aud interest,
This they must pay in addition to sup
porting themselves, and they must sup
port themselves and pay these immense
charges before they can add q dollar to
the wealth Of the country. 1t Is evident
from the vast number Of deprecated sc.
curities on the market that the people in
many parts Of the country have grown
very weary Of taxation, Some towns and
counties levy very reluctantly for the
amounts necessary to meet the interest on
their Indebtedness. There il disposl'
tton to plead technicallues as 10 the legit-
imacy Of the debts, just as there was In this
county and in Washington Co.. Pa, some
years ago, in relation to the Legitimacy
Of the 1IempAelL railroad bonds As a
matter Of course these debts will have to
be generally paid, for the disgrace Of re-
pudiation, like Gains punishment, Is
greater tliah most communities can bear
--grealer than the burden Of taxation
still, the fact that they hesitate and
plead poverty dcprcclates their securities
and fills the country with cheap bohdS
A few years ago Washington county
bought up portion Of her HempGcll
debt at fifty and sixty cents on the dol
lar, simply because hollerSOt her bond
becume alarmed at her evident unwil
linguess to pay. And few years ng'
the ecity Of Wheeling compromised, u larg
amount Of debt ut fifty cents OH the dol
lar because the holders saw she was over
loaded and in poor plight to pay.
Such instances as these show the wis
dom Of constitutional provisions In ever,
State prohibiting cities and counties iron
running in debt beyond their well assur
ed ability to pay. The curse Of Tie da
in which we live Is the extrayagant idea
which have sprung up under the inAuer
Ces growing ont Of the flush times Of III
war. Communities have got 10 abando
their Wild ideas their fancy schemes 70
immense railroad subscriptions and tn
like, and come back to old fashiOne
principles OfeConOmy. wa,ate glad thu
the city Of Wheeling Is 80 well otH Of III
woods in this respect and we hPpe All
will keep out. .'i