Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1875-08-27
POLICE AND FIRE R
Facts for Merchants and Business
Ven 10 COnsfder-BrOkers VS.. PO-
lice FireSeFfp-The rruehtaGe-
ment of the Matter.

W. TUT WTWTTWWWTW WHW hWTTWUTN
Men TO Conslder-BrOkers We. PO-
lice and eReFip-The rruehtaGe-
ment of the Matter.
We have frequently had occasion to
refer to the wisdom and propriety Of the
merchants purchasing direct from the
police and 6remen the scrip with which
these employees of the city are at present
paid. By doing so the men, as a matter
Of course, get a better price, whilst the
merchants are not expected to give any
more than they have 20 pay to bankers
or eurbstone brokers, and receiving also
interest on their investment from the
date the scrip is issued, and a further
rebate Of one and a half per cent. per
month from this time to January 18th.
Some knowing ones, seemingly well
posted. are circulating a rumor that so
much of this scrip is being issued that
it must necessarily fall from the present
rate at which it is bought and sold. Be-
lieying that, instead Of falling, it should
be current at its face value, we have pro-
cured information at the Mayors office
which must be, we think, entirely salts
factory, The Mayor is opposed to the
issuance Of any scrip, but the action
of the Legislature suspending the col
lection Of taxes necessitated the present
and only feasible course by the General
Council The appropriation for the
present year for the Police Department
is $4,000 and for the Fire Department
$50, 900, making a total of 1922, 900, for
the payment Of which the entire v
nue. arising from taxes on merchants,
licenses and.privileges is set apart, aud
the amount Of income from these sources
have not been under Sl45, 900 during the
past six years, and that, too, at a time
when cur merchants capital was not
shown by report to be vel three and
one-half million dollars, whereas this
year. under the wise and equitable adj
justment Of the Board of Equalization,
it is over SIX millions, and from the
manner in which the merchants are com
ing forward and paying their taxes in
advance, it is evident they are well eatis-
fed with this mode Of assessment. Whilst
treating on this subject we will present a
few figures, which must convince
every thinking mind that police
and Gremen's scrip must and should be
par. Up to the first Cay of the present
month the city is only indebted to the
policemen 1886 IS, and to the 6remen,
$6l92 So; total due, 1859 30. There
have been issued, up to the close Of bust
ness yesterday, $92,47O of police scrip
and $23,46O Of fire department scrip
in all $55, $50, and of that amount
1913, 100 have been already retired and
Cancelled, leaving $27,83O outstanding.
Again, the revenue to be collected this
year, as fixed upon in the budget, is, in
round figures, for city purposes, 1886, 900.
Of this amount 1922 900 is for police and
fire department expenses. Now, it is
evident that one-third of the entire in
come is for the police aud Ere depart
ments; hence, the real estate owner who
owes for the present year, for city pur-
poses, one hundred dollars, can pay one
third'of it in police or fire department
scrip. Are we not, therefore, justified
in saying that it is the duty and the in
terest of every taxpayer to purchase at
least sufficient scrip to pay one-third of
the city's portion of the general tax.
And thus, it is plain to be seen, that mer
chants taxes to the amount Of one hun
dEed and fifty thousand dollars, and gen
eral taxes to the amount of $l22, 900 can
be paid with this scrip. And not one
dollar over that directed by ordinance
will be issued; ana that is only 1872, 900.