, 1876-04-03

The Official organ OF tho Chicago ring OF
tax-eaters attests its appreciation Of the in
auonoo Of TIM On1oAoo TRIBUNE by charg-
ing thnt tho impairment Of tho oity's crodit,
ns shown BY Comptroller HA1Es' difficulty in
borrowing money In Now York on certificates
Of indebtedness, is oil owing to tho attacks
VIC have made on tho continued practice Of
removing certificates for which the taxea
have long since been lost, Of purporting to
issue them under a charter That no longer
governs the city, and Of appropriating money
for tho current expenses In oxcess Of what
can bo collected. Wlilo this testimonial
would be complimentary to tho power Of
The TRIBUNE if 1t came from moro trust-
worthy source, it 1ossH much of its val1o,
though none Of it's venom, from the fact that
it is not true. Tho impairment Of tho efty's
credit ia not owing to anything TIE Tn1upsE
has said, nor anything that Inns been
sail by any other newspaper or porson, but
to tho reckless aud vicious management OF
tho city's affairs by the Mayor md Common
Council, which has received support only
from tho ta1-eaters' organ. It is folly to
suppose that this condition OF things could
have been concealed. A solemn compact
n1nong all tho newspapers to suppress tho
facts, md fayorably misreproseut the oficid
abuses aud proaigato waste of money that
have been going on for two years, would fail
utterly to docciye the capitalists Of New York,
Boston, md other Eastorn cities as to tho
truth. steam aud lightning hayo brought
tho great cities ns noRr toBothor as Chicago
and Hyde Park. Tho mon in New York or
Boston who arc investing their money in
Chicago securities aro Just as we'll informed
Of tho condition Of Chicago finances md tho
character OF our City Government ns 1t tloy
lived in Chicago. Thoy nre not ai1np1etons,
and do not send out thoir money without
close examination Of tho probabilities OF
its return at the timo specified in the
contract. They know rs woll as Chicago
nowspapors that tho certificates, instead Of
that the volume Of the Issue Is constantly
and rapidly inoroasing. They know TINT tho
tax-levy for tho current year Is IN o1cous Of
tho surplus RESOURCES Of tho Taxpayers, and
that tho consequence will be another do
ticiency in tic collections md q correspond
ing addition to tho amount Of outstanding
certificates. They know that this manage
ment Of municipal at1alrs must in the ond be
NJ disastrous aa similar management Of
privnte aflairs, and that, sooner OF later, some
Of the creditors must suffer- for it, either iu
tho actual loss OF the moneys they havo ad.
vanccd, or in serious delay aud the cost oi
litigation. Tho policy Of deception which
tho tax-thieves' organ advocates, to aay moth.
ing Of its immortality, would fail lamentably
in it's purpose.
The aileuce Of tho pross-tho suppres,io
rfrt-is not the essential thing to IN i'm
proyement In Chicago finances. The Chi
cago pross might bo as close ns clam about
tho abuses, or It might picture tho otllcia
bummerism In the most glowing co!ors, or Il
| might MAINTAIN that Mr.. GOWN Is holding
tho Office Of Mayor beyond his term at sh'
earnest solicitation OF tho taxpayers, or i
might compare our Common Council to tht
Roman Senate, and cxtol tho individua
Aldermen rs tho purost Of patriots, all
would not avail. The bankers Of Now YoTl
would know NIL these to be lies, as we'll a
tho bankers Of Chicago. There ia but ont
Pnpor III Chicago, fortunately, which ha
consented to this d!areputable course, md |
is forced to admit Its failure 1t l,aa earne,
its part Of the tax-eating (which consists 0
tho official printing! by this prostitution o
Its columns, but the motive has been ~ an
parent ~ tho deception, md tho fniIure
attestcl by It's own confession.
The credit Of the City Of Chicago con oul
bo revived by tho samo process as would b
necessary to restore tho failing credit Of
family who Ind boen living beyond thel
means and had been plunderel by thu
agcnts. These plundering agents must civ
way, and the municipality must ba conaue
in it's expenditures to tho ability Of the ta
payers to pay without oppression, II Ii
ahall not bo done, the time is not far dists'
when tho City Of Chicago will be unablo
borrow money on any terms, and will have
oonfess itself bankrupt. But II the cham
Ia made ssoto, very few yeass will suffice