The daily gazette., 1875-05-29
MuNIfIPAx FxTRAyAGAyCE.
From the Pitisburg Dispatch.

From the Pitisburg Dispatch.
1t is astounding vita what reskless-
ness municipal corp orations are rushing
INTO ruinous debt. The sxtravaganoe
and want Of caution OF the authorities
in towns and cities are alarming, but
the apathy and in difference OF the peo-
pie to the const, ntly increasing and ac-
cumulating indebtedness of ths nuni-
clpalities ia wniuh they live is absolute
ly inexplicable. II they run on as they
have been doing for the past few years,
uIthing but absolute bankruptcy will be
the fate of many cities in the countr, :.
It would seem as if those to whom have
been committed the management and
oversight Of their affairs are Actueted by
nothing but desire to bring them into
financial ruin Yet the Taxpayers look
calmly on. and never utter protest
nor devise means to prevent the fearful
catastrophy wuich must necessarily fol.
low the wiiful waste that Ia now being
made of the public money. Men who
will howl over the malanproprlation OF
few Thousand dollars hy q State or
National Legislature, have not word
to say when their representatives in city
governments sqnander money by tine
million every year.
Tue Hon. Edward L. Pierce made
speech, within short time, in the Mas
sachusetts Legislature on the subject OF
municipal indebtedness and extrava-
gance, in which he said that while the
debts the several counties is only $780,
UO0, ,00U. of the several States less than
S40O, ,000, 900, and the United States S2,-
l40, 900 900, that of cities and towns au-
cunts to $50, 900 900, thus showing that
nearly one sixth OF the entire indebted
ness of the country il owed by the towns
- L. A. L.. L.
corporations in debt with $50, 900,
which would at time not far back i'll
the past have been considered too great
L burden for the United States to carry
Next comes Philadelphia with an indeb-
tedhess of titty-four millions, and a de.
mand for further loans. New Orlean,
claims the next position on the roll Of
corporations with debt of only one half
t that OF Pnilndelphia. amounting to
the considerable sum If twenty. .sevei
millions. Boston follows with tw,n nty-
Two millions; Baltimore with nineteen
millions; Chicago and Washington Cat!
each with fifteen millions; st Loui.
fourteen millions; Atlanta and CincIn.
1ati, each ten millions; Louisville. Jerse!
City a. d Charleston. FIVE millions each
and Pittsburg Thirteen millions of direc;
debt and endorsement. Here, then, ar,
fourteen citIes with an indebtedness oi
1851, ,000, ,005, equal to nca'ly the entir,
Indebtedness OF ali the States in the
Union, and about ous-sixCh oil that o.
the General Government.
Tie worst feature Of the case Is that
it shows no diminution, but il con
stantly increasing ttom year to year,
anc the people. il they Gle not totally
blind, must sos that The several cor
porations are rushing headlong int
bankruptcy yet never enter prOtes
in conceit, nor enc tavOr TO stay the
hand of those who are piunging then
iGto financial ruin. When ii stringent
money market presses upon the natiuL
there are some inei chants uld manu-
tacturers so foolish u to expect thai
Congress and the administration Car
and should furnish all the relief nredts
and therefore do nothing themselves Il.
Dring about more healthy condition
Vt affairs. SO in corporations, tle citi
zens rely upon those whom they have
elected to attend to tinunt ial and ether
| matters, und pay no attention 10 them
They grumble when the amount vi
ihcir taxes is presented, aud inquire,
"Whcre is this thing going to end?'
but Hs soon as the. money Is paid thcA
think no more about it for another
year, when they pay an increased sum
iih sigh, and sink again into indii
ference. This may 40 ON Tor few
years until tn taxpayer shall be un-
able 10 mcet the demands made upo,
him, and the property have to he solo
under the hammer of the Sheriff. :