Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1877-11-28

i am more than convinced Of the fully, eye,
madness. of longer continuing on the downward
road 10 inevitable bankruptcy proper man
apement of our municipal affairs durlng the
war, and an honest aud judioiOu' expenditure
Of the public revenues would have retired
large part of our Indebtedness AID thereby
placed the city on sound foancial basis; but,
instead, the debt Was la,g' ly augmented, pr!n',
cipally, 40 far as We know, by arrearages CT H.
terest aod even after conservative msJorlly
obtained contro! Of affairs our condluoD grew
worse every year until, by dreadful financial
bunder, we reobligated ourselves IN the issue
Of new consolidated bond made up of oil out
standing obligations at par, including interest
then in default. Now your committee, acting
uoder your instructions, have submitted to the
proposition is set forth 10 the act prepared by
us, and which is now before you for ratification.
We have labored iDdustriously, amid difhcul'
ties which beset us on every hand, Aopposl'
ton from non resident bundhodefs, fro4t resist
aucc, and, We are sorry to say, prevaricatiop, on
the part Of some of the resident holders. mis-
representation from many, and studied effort
to make odious an honorable transaction char
actcrz,d The cOuduat of not few; still, 90 the
whole, We have reason to feel greatly eDoour.
aged, as about four hundred thousand dollars
have already sienifed willingness to accept
our proposition, bet should the decision Of the
courts 10 tho case now pending, involving the
right of the City Council to discriminate against
coupous when rendered for taxes be adverse TO
the city--not an improbable contingency, as
iudges, like other ordinary mortals, generally
lean towards individuals as against corpora
tions-it may become necessary to resort to ex-
treme legislation in order to compel acquies-
c,nce and at the same time protect the Cor
poration against consequences likely to result
from 40 uniavorablc decision. Now, Mr.. Pres
ident, the result of our labor is before you, end
it remains for you to carry forward the plan
made ready for your hands; and here VIC would
kindly warn you against hesitancy-thc slight
est waver on your part would most certainly
defeat the very measure you are 80 anxious 10
perfect. Our knowledge Of certain facts will
Justify us 10 saying this much at least We all
realize the fact that Alexandria can never rise
under the present Incubus, nor will there ever
be any Improvement in her condition as long as
her debt exceeds tho actual cash value OF all
Ter real estate, as ascertalned by sn average OF
tho sales Of property during the last twelve
months. A levy Of two dollars and fifty cents
on the present assessment would barely meet
your wants even if there wero no arrearagcS TO
provide for. Next year the Corporation as
sessment must be reduced to conform to that
of the state which moro nearly represents the
true value OF properly, and then, as a matter
Of course, your percentage OF tax must be
raised to meet the deficiency. You have in
your hauds now. We verify believe, the only
remedy, viz the ratification Of The act sub
mitted by your committee. Of course opposl
ton will follow, and it may, and doubtless will,
require year or two 10 consummate the sr
rangement, but personal contact with some OF
the most violent opponents of the scheme JUST
fes the conclusion that a little courage and
perseverance will carry you beyond breakers
ADD leave sufficient momentum 90 which to
predicate reasonable hope Of future prosperity
aud greatness. 1t is proper, Mr. President, in
closing cur labors to suitably reoogniz, tie 10
valuable aid We received from the Corporation
Attorney and Auditor Of the city. 10 those
gentlemen our thanks arc due, and We willingly
concedc to them a large share Of credit for
sasF u Bs f Ss q as9a 81
know rot, Mr.. President. how the members Of
Council feel with regard to this proposition,
but to your committee it is matter of trans.
cendant importance, involving, as We honestly
believe, the veal or voc Of our city. 1t is
humiliating position to occupy, but it is one
from which We canuot escape, and though We
now humble ourselves before our creditors, and
on Bonded knees implore their leDlency, still
the consciousness Of having done the very best
thiog possible, under the circumstances, will
sustain US 10 the effort and nervo US to perso-
we're until beoe foent Providence again smiles
90 us contented and prosperous community.
Then, and not till then, will our people of
meaDs, instead Of throwing their money to the
winds 10 wild cat schemes promising heavy re-
turus of interest," emulate the example of Robt.
Portner and few. other enterprising men in
our midst by building up the waste places of
our city, so long kept desolate by bllehtiog tax.
atop then, and not till then. will your iacto.
ries, which have 81 long remained idle
and gone to decay, cheer us by their
busy hun. and all of us, rich and Door,
share in tho general prosperity which,
| trust 10 God, to be in store for the
people of old Alexandria. You may, MIR. Pres.
idcnt, consider this gratutous tender OF ad'
vice from one of your humblest follow citizens,
an intrusion. if you please, on n prerogativc of
Council, but do assure you it is offered 10 no
tuoh spirit. Feeling as do that We are now 10
the midst of crisis of such tremendous mo.
ment to all Of US; crisis 10 which IL involved
the very existence of our people, and which, OF
necessity, must effect every material Interest,
present and prospective. and every enterprise
out OF which ought to flow thrift and content
ment, should be rcoreant to the trust which
you have confded 10 me. as member of this
commission, did not urge on you the impor
lance of energetic action, and as 4 reward may
the financial cloud, which appeared in 1857, ap.
parenty of small magnitude at first, but which
has spread until it now hangs like a pail over
and around about our city, be speedily dlSslpat.
ed, aud the raicbow of promise and plenty ap.
pear agaiu to gladden. the hearts of the dcst
tute, and the cry of distress for want of employ
ment be hushed forever within the borders of
our town.
After some remarks touching the report, the
city debt, interest, &C.. from MIR. Mckenzie
and other members of the Commission.
Mr. Stuart said this Was subject Of 80 much
importance that although he had not intended
to speak upon the subject he felt impclled to
urge upon them lis importance. He adverted
to the fact that there were men in this COM
munity who had said this was not an honest
proposal, and showed that all civilized systems
of government provided methods of bankruptcy
ADD Of compromise with creditors, and there
never was case calling for the application Of