, 1877-01-31
COUNTY FINANCES.
THE &101.010 LOAN.

COUNTY FINANCES.
THE 100000 LOAN.
The action Of the County Board Monday in
resolving to make q Temporary loan nf et00, 900
shows to what s,ratghts the proflIgacy and cor
rupt'on Of the "Rtng" has driven II. The
proposition 10 borrow WAS lcgitImatcly the
property Of the Finance Committee, hut tho
"Rtng " said no, md tho matter WIS crowded
through, tho Chairman OF tho Board getting
down from Ills chair to bolstcr It up with hi,
cloqncncc. The necessity OF making loan was
imaginary, to some extent, and was suggested
to the 'RIng" BY tho 'fact thai. 1t had
foolfshfy entered upon contracts and assumed
obligations beyond tho capacity Of On exhausted
Treasury. It was pressed By stcClcycy, Sexton,
Hogan. and tho whole list OF favored contract-
ors, and for no other purpose.
Whether or not the proposed 1oau could be
elected WAS the great question With tho
"itns" yesterday, for although, thu Board hal
committed the Outrage Of ordering the gang
found themselves ia . SERIOUS dilemma.
Tic most that tucy were certain That they could
do was 10 advertise for tile tonn. for they wesc
carly Informed TINT neither AYara,, Chairman,
nor Fitzgerald, both Of tho Finance Committee,
would Sign tho ''proInfsc to pay,h anl were
also slspicious. from lnti,nations dropped that
THE 7kEAsoHsH, WOULD Also WITHHOLD MS
thcis mind the highly probable and umlcsirctl
situation OF the banks and capitalists utterly
rsfa9sing ,,a9a to advance tie COUNTY any oney
not without hope; first, that both Ayars aud
Fitzgerald woul.l yield, aud, ALSO, thnt tue fortn
or expressions Of Mr. fiuek might he rcconsId-
out their signatures would 30 accepted by BID
Their dist dcluston on the subject Ia circctu.
ally dlspcllcd, for Messrs. Ayars, Fitzgerald,
parties 10 tic :schr,ne 10 impoyersI
the pcup1c to accommodate and reward the fa-
vored contractors and hanErrs-Uh Of The
Nng.n' Each Of them gives tho same general
osIt!on is cxtsasarant, actua!ly .nnneecssary,
and that tho county tax-warraut for. tho yenr,
considering the present Indebtedness and the
extent to which temporary loans hare already
been made, will not Justify tho lncurriug Of tho
obligation. They appear to have
PROOF or IT,
too, In figures, which arc appended: The
aS" q .11ss fxten8eI sIne for S or
collections OF last year. and considering the un-
collected tax Of former years, amounting 70
$3H,FF:74, ~ available, tho most that cali bc
s oat q hs fe Is e soms n ysat "i s
coilntys credit must further suffer, siGl. .35,
being tic amount Of temporary 1oans md in.
tcrcst DUO and parable between June II
:1unc II, s1Q ,ooo July 10. aud s5o,0oo Oct, ii.
Deducting thtso loans and interest from tho
estimated mid possible collections, the total
amount left tho County Isourd to be applied fur
s it Keierng usthea q the nppfopa.sos pF ps d.
ready made by tho board for The year, tho fol-
lowing itcHIs appear:
sGGrt, li"ns 9nts ~ ooo
GoHnfg pns1 tOee3. n.F QUO
!nhile chari ACKNOWLEDGEMENTS. I'm. 0O0
Aascc|!RncQ I4...... 1~~I, 4au
Total..". ....,"..............St. 81. 1h2, 480
nl1 to hc pt Id from s6at, ,ooG9s99 To say nothing
at incurri,rg an additional debt Of t100GD0. pro-
poscd b5 tlc p" ilinF - the prospect Is now tlat
new debts, provision l,as BEEN alrendy made By
the ringst.rs to leave tho county In arrcars fDr
tho year nearly s5ooooo, and this In brief
aol i tic psoof ot tho a'x inpoey sas '0o''i u
borrowing more money, md tho reason why
.Nessrr. Fitzgerald, Ayars, und lT,lck decline
to he parties to the Loan. Aside from this.
they say that It would to extremely doubtful,
" It'll or without tho additional lont,,
" IETuEl. THE LOANS ALNEApY MADE CAN nE
NET
rs t2leY become due, md tho latter Eocs 70 far
,sa1e ulasug to let the loan due In June 70 by
!lefs zllt and all the loaus Tor thut matter nj.
less the courts decide that that body
haa y = ts1s " right % to ifsus thc coveted
dIilct INT, OF cuursc, for the $4H,oo0 nct nsilc
from tho general warrant for the tourt-flnusc
would. l,c turnrd to tho General Fund, and the
Cnurt House Fund supplied from tho result of
tho 81 10 Of the bonds. ThIs would, however, be
borro' ring from Peter to pay Paul, for whlle tho
rrslllt ut the end OF the year would appear Diff
same, ;tnd thc expenditures would bear really
greater ratio OF increase over the receipts tiiau
Ii predicted asNf shown.
r11E sEconn THEORY
OF tho hgstcaH, whIcl IL Hint tlrcre will be no
trouble In negotiating tho loan Of $4,000 on q
'spront ~ to ply" signed by o plaIorltY Of tho
F'nancc Committee. ant nut by tho Treasurer,
!. nlso pretty thoroughly demolished by express
talIsts yestcndy; on tho tuft tiect by reporter,
lon that It woult! 10 good tliing
for tho County, Il the loan coul1
wcEo puck uf spcndthrttta, who did not enter
tain u shadow o respect for tho intcscsta Ut the
public They further intinsated that unless tue
loan wero In ar Ct ascordais g with law, and tho
tho Commissioner crs would ot be able to get the
monGy, Is no tunkcr wuI it'd advance Il aud
take tho S!ls.nce Of being obliged to
Tho bankers ". 3uld rathc,' keep thclr MONEY
Idle than loan Il. IN any sccnrttirs which arc
1iclgcd with ia nn|cntlont, ami cntanyIcn,cntA.
When these expressions Of opinion wcre OH
lica of tbs real cun1lt Ion Ut the rounty's
finances, as given above, consequently what
they sa!l was based on the s!fnpie proposition
nf tho BoaHl to Bccuro tie rnoncy without oh.
serypg the rules customary In making loans
heretofore. They did not consider tho prob
ability thut II they lhancA thu money tho
chances were TINT tic county would he lnalyle
to meet Its nloat:t to rc,'ay tho amount four
already made wcAtl not he met unless thu
t,osnscd debt OF u, county could he Increased
Looking at tile 81 tuition In tho light uf tnesu
facts, they will ,io doubt bU even more 10th,
under any circumstances, to empty their vaults
into tho laps Ut tic "Rlug" Of couuy spend.
thrifts.
JAMES a, I}EpIEn.
CHARGED WITH Tie NuNDBA or JAAE3 swRE.
NEf.
Tho trial Of Jaracs 4. ncplcr under an indict-
mcnt charging lin with the murder OF james
Sweeney commenced III the Crl,ninal Court ycs-
tcr.iaY afternoon. Thu killing took bl,ce (,ct